Rockville, MD -- (SBWire) -- 06/29/2018 --About 75,000 Elevators can Spur the Demand for Worm Reduction Gearbox in Following Years

Rapid urbanization across the globe, especially in emerging economies, is expected to fuel the adoption of elevators and lifts. For example, in India, the demand for lifts and elevators is expected to cross 75,000 units by the end of 2020, owing to favorable real estate reforms and growth in the construction sector. In addition, demand for elevators and lifts in the country is also influenced by growing aging population (according to UNFPA, India will witness above 12 million senior citizens by 2020) that has prefers to use high quality lifts. This has influenced the elevator and lift manufacturers to develop safe, smart and reliable equipment, which is expected to support the growth of worm reduction gearbox in the coming years. Worm reduction gear box provide speed reduction in medium to low speed applications, for instance lifts and elevators, where they are used to regulate the torque of the lift. Moreover, their mechanism offers efficient energy utilization as they have higher counter balancing effect.

However, development of hydraulic elevators, is expected to hinder the growth of the worm reduction gearbox market. In hydraulic elevators, hydraulic systems are used instead of traction gears. They have gained high traction owing to their easy installment, less space requirements and can lift high loads as hydraulic fluid mechanism can offer greater lifting force as compared to traction elevators.

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Steady Demand From the Automotive Industry to Contribute to the Growth of the Global Worm Reduction Gearbox Market

Automotive sector has been witnessing significant growth since past several years. This growth is fuelled by the increasing preference for self-owned vehicles coupled with increase in GDP per capita in emerging as well as developed economies. The led to increased production of vehicles, typically passenger cars (In 2016, the number of passenger cars produced in China were 24,420,744 units and it reached a count of 24,806,687 in 2017. Similarly, in Russia, passenger cars production reflected a count of 1,124,774 units in 2016 and it increased to 1,348,029 units in 2017). This is expected to drive the sale of worm reduction gearbox as they are widely used to regulate the torque of the vehicle and used for speed reduction applications. In vehicles, worm reduction gearbox produces torsion differentials in four wheelers thus supporting in direction change, when the wheels turn with higher force, where it reduces the vehicle speed to its threshold limit, without stopping the vehicle. Moreover, worm reduction gearbox is also used in huge trucks and off road vehicles to deliver varying torque levels to each wheel. This is anticipated to fuel the growth of the global worm reduction gearbox market during the period of forecast.

Combination of Higher Reduction Ratio and Low Reverse Power to Intensify the Use of Worm Reduction Gear Box

Worm reduction gearbox offers huge reduction ratio as compared to standard motors. This allows huge turning of the main gear with a little directional shift of the worm gear in the worm reduction gear box. This permits the user to decrease the speed while simultaneously increasing the torque. This enables efficient handling, convenient direction change and reduced downtime of the engine. In addition, need for a backstop is eliminated as the set up is easily simplifies with a worm reduction gearbox. This is due to its low reverse power that enables the gear to move in one direction. Relatively in a standard gear set up, power reversing more components in the machine along with a backstop. Worm reduction gearbox is ideal preference for a machine that requires less speed and more torque, for example, a conveyor belt system. Second benefit lies in its simplicity as additional gears are not required to carry out to increase or decrease the speed of the machine.

The key stakeholders in the global worm reduction gearbox market include Precision Gears Inc., Gear Manufacturing Inc., ESSOR Precision Company, HPC Gears, Avon Gear and Engineering, Berg, Mitsubishi and Gear Motions among others.

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Key highlights and incisive insights with respect to various market developments and trends are compiles in this analytical research report. The research report on global worm reduction gearbox market can be a used as a comprehensive business document for gaining in-depth understanding of the global market with a view to achieve competitive advantage in the coming years.