The worm gear drives market size is projected to grow from US$ 2,963.17 million in 2022 to US$ 3,810.13 million by 2030; it is expected to grow at a CAGR of 3.2% during 2022–2030.
Analyst Perspective:
An ever-growing demand for minerals and natural resources propels mining activities worldwide. The mining sector requires worm gear drives to optimize the utilization of industrial machinery. A few instances that indicate a rise in mining activities across the world are mentioned below:
- The government of China has implemented a series of policies and incentives to encourage the construction of green mines, resulting in the listing of 1,254 mining companies on the national green mine directory till 2021. With nearly 40,000 mines in China, the green mining sector records a rise in mining activities and associated services.
- Austria extracts ~80 million metric tons of mineral resources annually through mining activities above and below ground. The nation attains self-sufficiency in raw materials that are essential in construction activities such as sand and gravel. Such mineral extraction significantly boosts regional value added, contributing ~25% to Austria's GDP.
- Finland claimed the top position as the world's leading peat producer in 2019, contributing to 37% of global production. Additionally, the country stands as the second-largest producer of mica, accounting for 18% of worldwide production. It has emerged as the sixth-ranked producer of selenium—contributing to 4% of global production. These numbers highlight the country’s notable presence in the global mineral landscape and its significant contributions to peat, mica, and selenium production.
As mining activities expand across various regions, the demand for specialized machinery tailored to the unique challenges of mining operations has widely increased. Worm gear drives play a key role in the extraction and processing of minerals. The scale and complexity of modern mining operations necessitate the use of advanced machinery equipped with cutting-edge technologies to enhance efficiency, safety, and productivity. Thus, the increasing mining activities present significant growth opportunities for the worm drive gear market growth in the future.
Market Overview:
A worm gear is made of a shaft with a spiral thread that connects to and drives a toothed wheel. Worm gears are a unique type of gear and a variant of one of the six simple machines. They run smoothly and silently when properly installed and oiled. Typical applications of worm gear uses include presses, small engines, lifts and elevators, rolling mills, conveying engineering, mining industry machinery, rudders, and worm drive saws.
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Worm Gear Drives Market: Strategic Insights
Market Size Value in US$ 2,963.17 million in 2022 Market Size Value by US$ 3,810.13 million by 2030 Growth rate CAGR of 3.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Worm Gear Drives Market: Strategic Insights
| Market Size Value in | US$ 2,963.17 million in 2022 |
| Market Size Value by | US$ 3,810.13 million by 2030 |
| Growth rate | CAGR of 3.2% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Surge in Automotive Sales Fuels Worm Gear Drives Market Growth
Worm gears are widely used in steering systems, power seats, convertible tops, sunroofs, and HVAC systems, among other automobile parts. In steering systems, worm gears are used in rack-and-pinion designs. The worm gear converts the circular motion of the steering wheel into the linear motion required by the steering system. The self-locking feature of the worm gears is beneficial for the steering systems, as it helps keep the system stable and in the appropriate position. Worm gears are also used in power seat adjustments to ensure smooth and controlled movement. They offer the torque and precision required to modify the seat position, recline angle, and height as per drivers’ specifications.
Worm gears are utilized in vehicle HVAC systems to manage airflow and temperature. These gears aid in the adjustment of the air blend doors and recirculation flaps, resulting in efficient climate management within cars. Increased vehicle production and sales directly impact the demand for steering systems, HVAC systems, and power seats, ultimately triggering the sales of worm gears. As per the data published by the International Organization of Motor Vehicle Manufacturers in 2023, 57 million passenger cars were sold in 2022 globally, an increase of 1 million units from 2021. Countries such as the US, Germany, China, and India are a few of the top automotive industry markets.
According to the American Automotive Association, the automobile manufacturing sector accounted for 11% of the US GDP in 2022. The US has the world’s eighth-largest automotive manufacturing industry, which generates US$ 1 trillion annually for the US economy. The manufacturing of motor parts and vehicles represents 3% of the US GDP, according to the Alliance for Auto Innovation Report in 2022. The US car and automobile manufacturing sector was valued at US$ 104.1 billion in 2023. In 2021, nearly 9.2 million vehicles were produced in the country, recording an upsurge of 4.5% compared to 2020. Rising vehicle production has created a massive demand for automobile products and services. Also, according to the Society for Indian Automotive Manufacturers (SIAM) Report, India's Motor Vehicle Production reached 5.45 million units in 2022, compared to 4.4 million units produced in 2021. Thus, a jump in the demand for automotive worm gears contributes to the overall growth of the worm gear drives market size.
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Segmental Analysis:
The worm gear drives market analysis is carried out on the basis of the following segments: operation type, material type, and product type. The market, by operation type, is segmented into cylindrical worm gears and single- and double-enveloping worm gears. A worm gear drive is a gear arrangement wherein a worm (a screw-shaped gear) engages with a worm wheel (which resembles a spur gear). The components are also known as the worm screw and worm gear. A worm gear is just a screw attached to what seems to be a regular spur gear with slightly inclined and curved teeth. It alters the rotational movement by 90 degrees, and the plane of movement changes depending on the position of the worm on the worm wheel. Thus, the cylindrical worm gears\segment holds a larger worm gear drives market share.
Regional Analysis:
The scope of the worm gear drives market report encompasses North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). In terms of revenue, Asia Pacific dominated the worm gear drives market share in 2022. Europe is the second-largest contributor to the global worm gear drives market, followed by North America.
Key Player Analysis:
Boston Gear, Kohara Gear Industry Co. Ltd., Delroyd Worm Gear, Tracey Gear and Precision Shaft, Cleveland Gear Company Inc., and TWG Inc are among the key players profiled in the worm gear drives market report. The report includes growth prospects in light of current worm gear drives market trends and driving factors influencing the market growth.
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Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the worm gear drives market. The market initiative is a strategy adopted by companies to expand their footprint across the world and to meet the growing customer demand. The companies in the worm gear drives market are mainly focusing on product and service enhancements by integrating advanced features and technologies into their offerings. A few recent developments by key the worm gear drives market players, as per their press releases, are listed below:
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October 2023 | Boston Gear introduced the next generation of its market-leading 700 Series Worm Gear Speed Reducer. The SS700 Gen2 stainless steel speed reducer is an upgrade to its first-generation series that served the food and beverage industry for over 10 years. |
November 2022 | NN, Inc., a global diversified industrial company, and Nylacast Automotive announced their collaboration for the manufacturing of electric power steering (EPS) worm wheels and worm shaft gearsets. |
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Operation Type, Material Type, Product Type, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Robotics is one area where worm gears have a lot of potential in the future. As robots are becoming more prominent in industrial settings, the demand for high-performance gear systems will keep growing. Worm gears enable precise motion control, allowing robotic devices to position themselves accurately and move with control. The combination of worm thread and worm wheel teeth enables for fine adjustments and smooth operation, resulting in precise and repeatable movements.
Worm gears are widely utilized in automobiles for a variety of applications, such as steering systems, power seats, convertible tops, sunroofs, and HVAC systems, among others. In the steering system, worm gears are used in rack-and-pinion designs. The worm gear converts the circular motion of the steering wheel into the linear motion required by the steering system. The self-locking feature of the Worm gears is very beneficial for the steering systems, as it helps keep the steering system stable and in the appropriate position. In power seat applications, worm gears are used in power seat adjustments to ensure smooth and controlled movement.
The water treatment industry valves market in Europe is undergoing significant growth and transformation, mainly driven by countries such as the UK and Spain. The UK provides opportunities for market players through its AMP 7, the 2020–2025 Water Sector Investment Cycle in England and Wales. Investments and expansions such as Kemira's move to expand its capacity of water treatment chemicals production indicate the increased demand from the water treatment industry, further signifying the elevated scales of operations of this industry. As the UK magnifies its efforts to meet water sector objectives, the demand for cutting-edge valve solutions within water treatment processes is poised for growth.
Boston Gear, Kohara Gear Industry Co. Ltd., Delroyd Worm Gear, Tracey Gear and Precision Shaft, Cleveland Gear Company Inc., and TWG Inc are the key market players operating in the global worm gear drives market.
Worm gear technology has advanced significantly in recent years, with a variety of styles emerging. These advancements are intended to improve the performance, efficiency, durability, and versatility of worm gear systems. Manufacturers are coming up with novel materials and coatings to improve the strength, wear resistance, and efficiency of worm gears.
The List of Companies - Worm Gear Drives Market
- Kohara Gear Industry Co.,Ltd.
- The Timchen Company
- Tracey Gear & Precision Shaft
- Delroyd Worm Gear
- R A Rodriguez (UK) Ltd
- CLEVELAND GEAR COMPANY, INC.
- TWG, Inc
- BJ-Gear A/S
- Boston Gears
- Nozag AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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