Parallel Shaft Geared Motors Market size is expected to register a CAGR of around 16% during the forecast period 2022 to 2027. Parallel Shaft Geared Motors type of geared motor which uses gears to accomplish speed reduction. The motor shaft and the speed reducer shaft are on parallel planes in this specifically geared motor. The Parallel Shaft Geared Motor can use three types of gears to accomplish the transmission. Spur Gears are widespread; these are the main factors that have considerably increased the demand for Parallel Shaft Geared Motors in the market, thereby driving the huge growth of the Parallel Shaft Geared Motors market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for Parallel Shaft Geared Motors in the market is mainly due to the Increasing demand for automation to improve productivity, energy efficiency, and labor costs are expected to drive market growth over the forecast period. Precision gearboxes are widely used in machines and systems to automate a variety of processes. Automation reduces the amount of manual operation and ensures minimal human intervention, which is expected to benefit sparsely populated areas with a less skilled labor force. As a result, demand for such automated machines and systems is expected to have a positive impact on market development during the forecast period. Parallel shaft geared motors consume a significant amount of vitality in ventures, resulting in high-vitality costs. In light of rising energy costs, businesses all over the world are focusing on incorporating energy-efficient systems into their manufacturing processes; these are the main factors that have considerably increased the demand for Parallel Shaft Geared Motors in the market, thereby driving the huge growth of the Parallel Shaft Geared Motors market in the upcoming years

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The report is segmented as:

Parallel Shaft Geared Motors Market is segmented on the basis of:

By Shaft Type (Hollow Shaft, Solid Shaft, Splined Hollow Shaft, and Hollow Shaft With Shrink Disc),

By Application (Logistics, Food &Beverages, Chemicals, Others)

Geographical Segmentation:

Parallel Shaft Geared Motors Market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and the rest of the world. North America has the dominant share in Parallel Shaft Geared Motors due to the Rising investments and technological advancements in wind power, food, and beverage these are the main factors that have considerably increased the demand for Parallel Shaft Geared Motors in North America, followed by Europe, Asia Pacific, Latin America, and the Middle East & Africa will register a slower increase in the Parallel Shaft Geared Motors Market

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Impact of COVID-19 on the Market

The COVID-19 started at the end of 2019 in Wuhan china; this has affected many industries from different sectors in various countries and also affected the Parallel Shaft Geared Motors market. The covid-19 pandemic has impacted hugely on the sales revenue of the Parallel Shaft Geared Motors market. Due to the government restrictions like lockdown in many countries have stopped the production of products by the manufacturing companies, In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of coronavirus are expecting to raise the Parallel Shaft Geared Motors market growth

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