8C-PAINA1 HONEYWELL

The market for gearboxes continued to be much larger than the market for geared motors in 2014,accounting for an estimated 60.3%of market revenues.However,IHS forecasts that the market for gearboxes will grow much slower than the market for geared motors through 2019,with contraction occurring up to 2016;overall,the gearboxes market will generate a revenue CAGR of 0.9%from 2014 to 2019.This will be primarily because of the underperformance of its main downstream process industry sectors,especially mining and cement as well as metal processing.The market for geared motors is forecast to see a 2.8%revenue CAGR from 2014 to 2019,in part because the share of geared motors in discrete industry sectors is higher than that of gearboxes,and the discrete sector for geared products is forecast to grow faster than those of the process sector from 2014 to 2019.The geared motor market is projected to reach nearly$5.5 billion in 2019,accounting for approximately 42%of total geared products,up from 39.7%in 2014.

2014年，变速器市场仍然比减速机市场大得多，市场营收约占60.3％。但IHS预测，一直到2019年，变速器市场的增长将比减速机市场慢得多，并有所收缩直到2016年。总体来看，从2014年到2019年，变速器市场营收将实现0.9％的年均复合增长率，这主要是因为下游过程行业表现不佳，特别是采矿、水泥以及金属加工。而同期的减速机市场预计将取得2.8％的年均复合增长率，部分原因是在离散行业减速机的份额比变速器大，而离散行业的齿轮产品将比过程行业的增长更快。预计减速机市场在2019年将达55亿美元，在总体齿轮产品份额的比重随之从2014年的39.7％上升到大约42％