Analysis of Mechanical Power Transmission market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global mechanical power transmission market is valued at around US$ 65.25 billion in 2022 and is projected to increase at a CAGR of 5.2% to attain a market valuation of US$ 108.3 billion by 2032.
Automotive OEMs are focusing on the reduction of vehicle weight to improve fuel efficiency, which is driving the demand for lightweight components, and, in turn, supporting the demand growth of various mechanical power transmission products such as belt drives and chain drives.
Mechanical Power Transmission Market Size (2022E)
US$ 65.25 Billion
Forecasted Market Value (2032F)
US$ 108.3 Billion
Global Market Growth Rate (2022-2032)
North America Market Share (2022)
Europe Market Share (2022)
Key Companies Profiled
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According to Fact.MR, a market research and competitive intelligence provider, the mechanical power transmission market is expected to rise at a CAGR of 5.2% from 2022 to 2032.
Mechanical power transmission is the most essential movement at work stations as it ensures the execution of energy at the outlet as it transfers energy from the energy generation point. Mechanical power transmission is needed in industries that manufacture products to execute the process smoothly.
Mechanical power transmission equipment can change energy. The advantages of mechanical power transmission are that it can change rotational speeds, it is well equipped with reversing rotational direction from the motor and it has elements that help to distribute and split power sources.
There are various types of mechanical power transmissions like power screws, brakes and clutches, chains and sprockets, shafts and couplings, belts, ropes and pulleys.
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“Rapid Advancements in Mechanical Power Transmission Systems”
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 systems. These new designs of mechanical power transmission systems include confinements of every part to meet an overall optimum for these systems.
Power is transmitted at a precise, consistent, and effective pace. Because of the products' long lifespan, the operating costs are kept to a minimum.
Any system that needs to transfer mechanical energy to maintain machines or a product moving can readily use the equipment. The parts meet industry standards and are suitable for the majority of system setups. The sales of mechanical power transmission equipment have increased as a result of all these causes.
Design and manufacturing expertise in 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 the 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 efficiency improvements.
The emergence of high-end mechanical power transmission systems that operate silently and are vibration-free is likely to help industrial applications. The development of mechanical power transmission systems will continue to support the needs of heavy-duty industries, material handling, and water and wastewater treatment applications thanks to their extensive knowledge and wide range of capabilities.
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“Focus of New Companies on Advanced & Comprehensive Range of Solutions”
The task at hand for new entrants in the mechanical power transmission market is to produce high-quality equipment that needs less maintenance and would consume less energy.
The number of equipment used in mechanical power transmission is more. Thus, assembling all the elements is a task. However, with companies rolling out custom-made elements, the market is expected to observe a boost.
“Growing Usage of Products in Industrial Facilities and Rising Initiatives to Improve Power Transmission Driving Market Expansion in North America & Europe”
North America is dominating the global mechanical power transmission market with 23.1% market share. Expansion of the market in North America is being driven by an increase in the use of products in industrial facilities, handling of materials, and water & sewage treatment operations.
This rise in demand is being brought on by numerous end-use sectors' requirements for trouble-free functioning, which is expected to drive up demand for mechanical power transmission products over the coming years.
Europe accounts for 21.3% share of the global mechanical power transmission market. The market in Europe is being driven by an increase in the number of producers of mechanical power transmission devices, a rise in product offerings, and initiatives by government organizations to improve power transmission in industrial sectors.
“Growing Usage of Mechanical Power Transmission Products in Automotive Industry for Effectiveness of Machinery”
Based on end users, the market is classified into automotive, construction, food & beverages, metals & mining, and others.
Demand for mechanical power transmission products in the automotive industry is projected to increase at a significant CAGR over the forecast period.
The automotive industry is where mechanical power transmission equipment is most widely used. Heavy transport vehicles benefit from components such as clutches that minimize noise, boost engine performance, and warm up engines more quickly.
Automotive components can benefit from custom bearings' heat treatment, lubrication, and part geometry. Manufacturing and assembly of equipment parts take place in factories where industrial repairs are performed; in these settings, gearbox and bearing repairs offer improved dependability and performance to run the manufacturing system to new requirements.
This increases the effectiveness of automotive transmission systems in industries. The use of mechanical power transmission equipment has increased due to these considerations on a global scale.
Key manufacturers of mechanical power transmission products are found to be involved in the development of innovative solutions and cutting-edge technologies to decrease downtime, improve output, and enhance system value.
With growing competition in the market, both regional, as well as global players, are engaged in technological innovation and mergers & acquisition activities to gain higher market share.
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The global mechanical power transmission market is valued at US$ 65.25 billion.
Mechanical power transmission sales are projected to increase at 5.2% CAGR through 2032.
By 2032, the market is forecasted to reach US$ 108.3 billion.
China accounts for 10.3% share of the global mechanical power transmission market.
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