LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global off-the-shelf gearbox and drives market report. This research report also lists 18 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the report, the global off-the-shelf gearboxes and drives market hosts well-diversified international and regional vendors. Established vendors, such as Bonfiglioli, Renold, and Sumitomo Drive Technologies, generate revenue via direct and indirect sales and together contributed approximately 26%-28% of the global market share in 2015. Indirect sales are made through local representatives, certified distributors or dealers, contractors, and system integrators.
“The differences in product performance, portfolio and service offerings, applications, knowledge of integrated systems, and quality of products make the market highly competitive and volatile,” says Bharath Kanniappan, lead automation analyst from Technavio.
The report also states that off-the-shelf products are dominating engineered solutions due to distinct advantages such as proven design, easy availability, quick part replacement, and high level of product differentiation in terms of end-user applications. Established OEMs primarily focus on geographical expansion, product and service innovation, capacity expansion, and customer retention. They are reaching out to sell off-the-shelf gearboxes and drives to Southeast Asia, Africa, and South America, in addition to traditional markets such as North America, Europe, China, Japan, India, and South Korea.
Although established international vendors have a large customer base, customer retention has become a major concern for them with new entrants offering products and services at lower price. The growing adoption of off-the-shelf gearboxes and drives by various industries offers ample opportunities for smaller players to thrive in the market.
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Technavio’s industrial automation research analysts identify the following key vendors:
Bonfiglioli is a global leader in power control solution. The company designs and manufactures mechatronics and power transmission products. It provides high quality off-the-shelf industrial gearboxes and mechanical drives to industries such as oil and gas, power, cement, pharmaceutical, and food and beverage. All their products comply with ISO 90001 standards, which dictate product quality ratings.
Renold manufactures off-the-shelf industrial gearboxes and mechanical drives and caters to OEMs and industries such as automotive, cement, oil and gas, and steel and metal among others. The company sells its gearbox and mechanical drives products under the chain division. It also has sales offices and authorized distribution channels in more than 18 countries.
Sumitomo Drive Technologies
The company focuses on megatrends such as demographic change, globalization of goods flows, rapid growth of mega-cities from urbanization, and digitization worldwide. It plans on strengthening its brand with a common market and brand image for all its products and solutions for targeting its customers.
David Brown is a British engineering company specializing in gears, gearbox, and drives manufacturing. The company designs gearbox solutions, particularly for oil and gas, power, mining and metal processing industries. It has a strong foothold in Europe and the Americas and is focusing toward expanding its reach within APAC market.
Timken is a global manufacturer of mechanical gearbox and drives, industrial bearings, couplings, and lubrications systems among others. The company sells off-the-shelf gearbox and drives product under mobile industries and process industries divisions, which together reports the company's overall sales. Timken offers gearbox and drives to both process and discrete industries.
Browse Related Reports:
- Global Geared Motors and Drives Market 2016-2020
- Global Motors and Drives Services Market 2016-2020
- Global Industrial Gear Motors and Drives Market 2015-2019
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