Share:

June 01, 2023|Machinery & Equipment

Harmonic Reducers to Register Considerable Demand Owing to High Reliability

The coming years are expected to record a substantial demand for harmonic reducers. This is mainly attributed to an array of advantages offered by these systems. These include high overloading capacity, low consumption of energy, high reliability, low maintenance cost, and durability.

According to Business Research Insights, the global harmonic reducer market size was USD 487.9 million in 2022 and is anticipated to reach USD 1012.6 million in 2028, exhibiting a CAGR of 12.9% over the forecast period. The rise is driven by the surging product deployment in warehousing, machine tools, aerospace packaging, robotics, industrial process control, and crating systems.

Harmonic reducers are gearboxes built on the strain-wave principle. Some of the major characteristics of these systems include low noise, compact installation, low backlash, and high gear ratio. These reducers are also used in the medical sector for machines such as radar systems and body scanners.

However, the costs associated with the maintenance and repair of harmonic reducers are high. This is because of the involvement of various engineering operations such as heat treatment, turning, grinding, and milling. This is likely to hinder industry expansion to some extent.  

Asia Pacific to be the Leading Region Favoring Business Growth

The Asia Pacific market for harmonic reducers is set to grow at a substantial pace throughout the forecast period. The regional expansion is impelled by the rising investment in industrial development by government and private players in countries such as Japan, China, and India. A rise in new domestic and commercial projects is expected to propel business expansion in the region.

Furthermore, the region of North America is expected to depict considerable growth over the estimated period. The surge is due to the increasing mineral production from mining operations. Besides, the country has registered an increase in the deployment of energy-efficient technologies.

Key Players: An Overview of the Competitive Landscape

Leading companies enter a series of initiatives for the consolidation of their industry positions. These comprise the formation of alliances, merger agreements, acquisitions, and the launch of new solutions. Other steps include a rise in collaborations and partnership agreements. These steps are being adopted for securing a strong position in the market.

Some of the key industry participants driving the global industry landscape include:

These companies are developing and launching a series of products for gaining a competitive edge in the market:

  1. Harmonic Drive Systems Inc.: Harmonic Drive Systems Inc. is a Japanese company specialized in the business of speed reducers. The company is engaged in the sale and manufacturing of precision actuators, precision speed reducers, and control devices. The company is engaged in the production of linear actuators, rotary actuators, and speed reducers. Harmonic Drive Systems distributes products to overseas markets including Europe and the Americas and within the domestic market.

  2. Motoman: Established in 1989, Yaskawa Motoman is a major industrial robotics firm in the U.S. The company has more than 18 million servos, 540,000 Motoman industrial robots, and 30 million inverter drives installed at the global level. The company offers automation solutions and products for every robotic application and industry. This includes material cutting, material handling, dispensing, coating, assembly, material handling, spot welding, material removal, and others.

  3. Beijing CTKM Harmonic Drive: Set up in 1993, China Beijing CTKM Harmonic Drive Co secured tremendous expertise in the trading and supply of harmonic drives. The supplier is based in Shunyi, Beijing, and is one of the greatest sellers of harmonic drives.

  4. Danfoss: Danfoss is a Danish multinational founded in 1933. The company is based in Nordborg, Denmark. In June 2022, the company expanded pacific automation partnership to NSW. The company’s new service area constituted all of NSW for the refrigeration and food & beverage industries. The company will service all areas for water and wastewater applications.

Along with the above initiatives, the company is centered on the adoption of merger agreements and participation in research activities for the development of superior solutions. Additional initiatives include growing participation in trade conferences.

Way Forward

The market share is set to rise in the coming years driven by the ease of affordability, high output, and low cost. The systems offer high output torque which is expected to propel the demand for harmonic reducers over the estimated period. However, the high repair cost of the product may hamper industry growth to a certain extent.