Gear up: The impact of energy topics on the industrial gearbox market
03 November 2022
Energy is becoming one of the most prevailing topics in the manufacturing industry, and so the situation is also impacting the gearbox and geared motor market.
(Image: Shutterstock)
On one hand, the energy crisis and increasing fuel and raw material prices in Europe are triggering stronger demand for geared products used in power generation, and related sectors such as mining and renewable energy.
On the other hand, global energy conservation and emission reduction acts can restrain the expansion of high energy-consuming, heavy industries in the short term. Meanwhile, the long term requires product upgrades of gearboxes and geared motors to help increase overall plant efficiencies.
Price increases, driven by rising energy and raw material costs, have been the most obvious trend impacting the geared motors and industrial (heavy-duty) gears market.
Prices of geared products rocketed in the first quarter of 2022. Products made in Europe are most heavily affected by energy, while in the US, supply chain issues have been the most important factor pushing prices up. On average, it’s expected that gearbox prices will increase by between five and 10 percent in 2022, with further increases also expected in 2023...
Read the full article in DPA's November issue
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