Gear motor market to stagnate
齒輪電機市場停滯不前

The global market for geared products has experienced ups and downs in recent years, with a strong recovery in 2010 and 2011 followed by a contraction in 2012 and slight recovery in 2013. The global geared products market is estimated to have been worth over $12 billion in 2014, showing slight growth from 2013. However, the recovery trend is expected to halt market growth and lead to stagnation in 2015 and 2016, primarily because of the poor performance of the gearboxes market, which is predicted to be hurt by the performance of the downstream process industry sectors under the circumstance of a volatile global economy and geopolitical uncertainties.

近年來，全球齒輪產品市場可謂跌宕起伏

，2010和2011年強勁複蘇，2012年收縮
，隨後在2013年略有回升。2014年，全球齒輪產品市場估值超120億美元，較2013年略有增長。然而，預計複蘇態勢將中斷市場增長，並導致2015和2016年市場停滯不前，主要是因為在全球經濟和地緣政治不確定性的情況下
，受下遊過程行業不穩定的表現影響
，齒輪電機市場業績不佳。

IHS predicts the global market for geared products to gradually pick up growth from the middle of the forecast period with a revenue CAGR of 1.6% from 2014 to 2019 to achieve $13.0 billion in 2019. In terms of regional markets, Asia Pacific was still the largest regional market for geared products in 2014, accounting for 46% of global revenues with an estimated value exceeding $5.5 billion. EMEA was the second-largest regional market in 2014 with a value of over $4.3 billion, representing 36% of global revenues.

IHS預測全球齒輪產品市場從預測期內的中期開始逐步回暖，2014年至2019年以1.6％的年均複合增長率增長，到2019年達130億美元。在區域市場方麵，亞太地區仍然是2014年最大的齒輪產品區域市場
，占全球收入的46％，估值超55億美元。 EMEA（歐洲、中東和非洲）地區是第二大區域市場

，2014年價值超43億美元，占全球營收的36％。

The market for gearboxes continued to be much larger than the market for geared motors in 2014, accounting for an estimated 60.3% of market revenues. However, IHS forecasts that the market for gearboxes will grow much slower than the market for geared motors through 2019, with contraction occurring up to 2016; overall, the gearboxes market will generate a revenue CAGR of 0.9% from 2014 to 2019. This will be primarily because of the underperformance of its main downstream process industry sectors, especially mining and cement as well as metal processing. The market for geared motors is forecast to see a 2.8% revenue CAGR from 2014 to 2019, in part because the share of geared motors in discrete industry sectors is higher than that of gearboxes, and the discrete sector for geared products is forecast to grow faster than those of the process sector from 2014 to 2019. The geared motor market is projected to reach nearly $5.5 billion in 2019, accounting for approximately 42% of total geared products, up from 39.7% in 2014.

2014年，變速器市場仍然比減速機市場大得多
，市場營收約占60.3％。但IHS預測
，一直到2019年，變速器市場的增長將比減速機市場慢得多，並有所收縮直到2016年。總體來看，從2014年到2019年
，變速器市場營收將實現0.9％的年均複合增長率，這主要是因為下遊過程行業表現不佳，特別是采礦
、水泥以及金屬加工。而同期的減速機市場預計將取得2.8％denianjunfuhezengchanglv，bufenyuanyinshizailisanxingyejiansujidefenebibiansuqida，erlisanxingyedechilunchanpinjiangbiguochengxingyedezengchanggengkuai。yujijiansujishichangzai2019年將達55億美元，在總體齒輪產品份額的比重隨之從2014年的39.7％上升到大約42％。

The performance of the geared product market is largely dependent on the underlying growth in the industries that use them, which include many machinery and process sectors. The materials handling sector is the largest sector for geared products, accounting for 15.5% of market revenues in 2014 with an estimated value of nearly $1.9 billion and the highest revenue CAGR from 2014 to 2019 at 4%. The food and beverage sector (including machinery and process) is the next largest sector for geared products, especially geared motors, and it is projected to also grow at the second-fastest CAGR of the downstream industries at 3.5% from 2014 to 2019. Mining, one of the major downstream sectors, is forecast to perform the worst across all industry sectors with a revenue CAGR of -3.4%, followed by metal processing.

chilunchanpinshichangdebiaoxianzaihendachengdushangqujueyuqiyingyongxingye
，baokuoxuduojixiehejiagongxingyedeqianzaizengchang。cailiaojiagongxingyeshiyingyongchilunchanpinzuiduodexingye，2014年占了市場收入的15.5％，營收將近 19億美元，2014至2019年的年複合增長率也是最高的4％。食品飲料行業（包括機械和加工）是齒輪產品的第二大應用市場，尤其是減速機，2014年至2019年預計也是年均複合增長率第二快的下遊產業，為3.5％。作為下遊主要行業之一的采礦，將是所有行業中最糟糕的一個，年均複合增長率為-3.4％，其次為金屬加工。

In terms of market landscape, European suppliers continued to lead the total market for geared products in 2014, with eight out of the top-ten companies accounting for an estimated 45% of total global revenues in 2014. SEW-EURODRIVE remained the market leader in geared products, primarily because of its dominance in geared motors. Siemens was the market share leader for gearboxes and held the second -highest total geared product market share.

在市場格局方麵，歐洲供應商在2014年繼續領跑整個齒輪產品市場，擁有前十公司的八家，約占全球總收入的45%。SEW-EURODRIVE仍reng然ran是shi齒chi輪lun產chan品pin的de市shi場chang領ling導dao者zhe，在zai減jian速su機ji領ling域yu占zhan統tong治zhi地di位wei。西xi門men子zi則ze在zai變bian速su器qi領ling域yu市shi場chang份fen額e領ling先xian，在zai齒chi輪lun產chan品pin總zong體ti市shi場chang份fen額e占zhan有you率lv第di二er。