At 1.8% CAGR, North America Worm Gear Drives Market is Projected to be Worth US$ 695.35 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America worm gear drives market was valued at US$ 601.23 million in 2022 and is expected to reach US$ 695.35 million by 2030, registering a CAGR of 1.8% from 2022 to 2030. Advancements in worm gear manufacturing and growing elevator and escalator installations due to increasing construction activities are among the critical factors attributed to drive the North America worm gear drives market growth.

Worm gear drive manufacturing technology has advanced significantly in recent years, with the emergence of a variety of styles. These advancements are intended to improve the performance, efficiency, durability, and versatility of worm gear drive systems. Manufacturers are coming up with novel materials and coatings to improve the strength, wear resistance, and efficiency of worm gear drives. Advanced alloys such as high-strength steels and composites are being employed to improve load capacity while reducing weight of the component. Diamond-like carbon (DLC) coating and nitriding surface coating, among others, are used to increase durability and minimize friction. In October 2023, Boston Gear introduced second-generation high-strength steel worm gear drive. Its 316-grade stainless steel design provides superior durability along with contributing to compliance with hygiene standards compared to speed reducers made from painted, coated, and aluminum alloys for food and beverage applications. Worm gear drive manufacturers are also increasingly using modern CAD and CAM tools to enhance gear geometry, tooth profiles, and manufacturing processes. This integrated strategy assures precise and efficient production, which leads to enhanced performance and lower costs. Virtual simulation and testing techniques such as finite element analysis (FEA) and computational fluid dynamics (CFD) are used to assess the performance of worm gear drive under various operating situations. These techniques allow engineers to project gear performance, detect potential faults, and optimize designs before actual prototyping, thereby saving time and costs. With the surging demand for smaller and more compact gear systems, advancements in worm gear drive technology are also focused on miniaturization. Smaller gear sizes, optimized tooth profiles, and improved manufacturing techniques allow for the construction of small and lightweight worm gear drive systems in industries such as robotics, aircraft, and medical equipment manufacturing. In May 2023, Elesa+Ganter expanded its product line with two compact and sturdy angular worm gear driveboxes that converts rotational movements by 90 degrees and can transmit large torques with or without a gear ratio. They are appropriate for use in material-handling systems, packaging equipment, and conveyor technology, among other applications. In November 2022, Maxom showcased five new compact worm gear drives suitable for compact and small worm gear drive demands raised by various industries. Thus, advancements in manufacturing technologies are expected to create opportunities for the worm gear drives market.

On the contrary, presence of alternative products growth of North America worm gear drives market.

Based on operation type, the North America worm gear drives market is bifurcated cylindrical worm gears and single & double enveloping worm gears. The cylindrical worm gears segment held 73.8% market share in 2022, amassing US$ 443.95 million. It is projected to garner US$ 519.54 million by 2030 to register 2.0% CAGR during 2022-2030.

In terms of product type, the North America worm gear drives market is categorized into housed units, gearsets, and high speed worms. The gearsets segment held 46.4% share of North America worm gear drives market in 2022, amassing US$ 278.94 million. It is projected to garner US$ 339.51 million by 2030 to expand at 2.5% CAGR from 2022 to 2030.

By material type, the North America worm gear drives market is segmented into stainless steel, cast iron, aluminum, and others. The stainless steel segment held 32.4% share of North America worm gear drives market in 2022, amassing US$ 195.08 million. It is estimated to garner US$ 212.47 million by 2030 to expand at 1.1% CAGR during 2022-2030.

Based on country, the North America worm gear drives market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 78.1% share of North America worm gear drives market in 2022. It was assessed at US$ 469.44 million in 2022 and is likely to hit US$ 522.90 million by 2030, registering a CAGR of 1.4% during 2022-2030.

Key players operating in the North America worm gear drives market are Kohara Gear Industry Co Ltd, Boston Gear LLC, Delroyd Worm Gear LLC, Tulsa Winch Inc, Cleveland Gear Co Inc, and The Timken Co, among others.

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