Mechanical Power Transmission Market Set for Rapid Growth and Trend, by 2028
Design and manufacturing expertise on high-efficiency, high-torque mechanical power transmission systems are highly eyed upon for design developments in high-power electric vehicles, and motorsport applications. In combination with latest finishing processes, a new era of performance has been witnessed in mechanical power transmission systems that impart increased component life, reduced gearbox temperatures, and improvements in efficiency.
Industrial applications are likely to benefit from introduction of advanced mechanical power transmission systems with silent and vibration-free operations, developed by key stakeholders such as Hewland. Extensive know-how and multiple capabilities of mechanical power transmission system developers will continue to aid catering requirements of applications such as in heavy-duty industry, material handling, and water & wastewater treatment.
Increasing demand for optimum performance and trouble free operation of the equipment’s in various end-use industries are assisting the demand for the mechanical power transmission products. Mechanical power transmission primarily refers to the products utilized in the systems with moving parts as opposed to systems powered electrically. Various types of mechanical power transmission products are available in the market such as chains, belts, couplings, pulleys, sprockets etc. These products provide various advantages which include reduced noise and vibration levels, increased output and reduced replacement and repair costs, lower energy consumption etc.
Power transmission products significantly affects the total cost of equipment ownership as well as the customer’s up-time within an end-use industry, thus they demand technical support, better availability, easier installation, reduced energy consumption, easier installation, reduced noise levels and increased service life and stability.
With prominent mechanical power transmission product manufacturers such as SKF offering advanced and comprehensive range of solutions, the industry has seen a remarkable rise in recent years. Most stakeholders in the mechanical power transmission market are offering specific but limited product ranges, by better understanding of interrelation between industrial processes and machine components.
As design variables in mechanical power transmission products, such as diameters of bearings and gears, are associated with certain confinements, design strategies are being developed for an optimal integrated design of mechanical power transmission system. These new designs of mechanical power transmission systems include confinements of every part, with a view to meet an overall optimum for these systems.
Global Mechanical Power Transmission Market: Segmentation
Globally, the mechanical power transmission market can be segmented on the basis of product type and end-use industry
Based on the product type, the global mechanical power transmission market can be segmented into
- Belt Drives
- V-Belt Drives
- Synchronous Belt Drives
- Chain Drives
Based on the end-use industry, the global mechanical power transmission market can be segmented into
- Food & Beverages
- Metals & Mining
Based on the sales channel, the global mechanical power transmission market can be segmented into
Global Mechanical Power Transmission Market: Dynamics
Over the recent past, demand for the power transmission products has grown at significant rate, owing to the growing end-use industries such as automotive, food & beverage, construction etc. Automotive OEMs are focussing on reduction of the weight of the vehicles in order to improve fuel efficiency will boost the demand for the lightweight components and thus in turn supporting the growth of various mechanical power transmission products such as belt drives and chain drives etc.
On the other hand, with the slowdown in the economic conditions across the globe, the mechanical power transmission products have faced a certain impact due to the decline in end-use industries.
Key manufacturers of the mechanical power transmission products are found to be involved in the development of innovative product solutions and cutting-edge technologies in order to decrease downtime, improve the output and enhance the system value. Further, with growing competition in the market, both regional as well as global players are engaged in technological innovation and mergers & acquisition activities to gain the market share.
Global Mechanical Power Transmission Market: Regional Outlook
Considering regions, the global mechanical power transmission market is anticipated to be dominate by Asia-Pacific region owing to the rising demand from various end-use industries across the developing countries such as China and India. North America and Europe are expected to be the most mature markets for the mechanical power transmission products because the manufacturers have limited product offerings in these regions. Middle East & Africa and Latin America are expected to account for small share in the market and anticipated to grow at moderate rate over the forecast period, owing to the slow growth of the end-use industries in various countries.
Global Mechanical Power Transmission Market: Market Participants
Examples of some of the market participants involved in the global Mechanical Power Transmission market include ABB, Altra Industrial Motion, Regal Beloit Corporation, TSUBAKIMOTO CHAIN CO., Renold, Rexnord Corporation, HangZhou DongHua Chain Group Co., Ltd., Gates Corporation, AB SKF, The Timken Company, OPTIBELT GROUP, ContiTech AG, ELECTROMATE INC., Weasler Engineering, BK Power Systems and others.
Globally, the mechanical power transmission market is very fragmented owing to the presence of large number of regional as well as global players across the globe. Prominent manufacturers of the mechanical power transmission products are found to be involved in the product innovation and development in order to gain the significant share and enhance the presence in the global market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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