Mechanical Power Transmission are Reach to Attain a Market Valuation of US$ 108.3 Billion by 2032
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.
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Key Takeaways from Market Study
- North America holds 23.1% of the market share.
- Europe is expected to contribute for 21.3% of the market.
- Rapid technological advancements to keep up the momentum for mechanical power transmission market
Market Developments
The key participants are looking through cutting-edge technologies for curtailing the downtime, enhancing output, and bettering the system value.
• AmTech International does have a plethora of the custom-made gears to facilitate mechanical power transmission. The gears include bevel gears, spur gears, and worm gears. They have been designed as per specifications stated by customers. High-quality materials like stainless steel, iron, carbon steel, and bronze are used by the company.
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Competitive Landscape
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.
For instance :
- AmTech International has a variety of custom-made gears for mechanical power transmission. This gear range includes spur gears, bevel gears, and worm gears; these gears are designed according to specifications given by the customers. The company uses high-quality materials such as iron, stainless steel, bronze, and carbon steel.
Key Companies Profiled:
- ABB
- Altra Industrial Motion
- Regal Beloit Corporation
- TSUBAKIMOTO CHAIN CO.
- Renold
- Rexnord Corporation
- Gates Corporation
- AB SKF
- The Timken Company
- OPTIBELT GROUP
- ContiTech AG
- ELECTROMATE INC.
- Weasler Engineering
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Key Segments Covered in Mechanical Power Transmission Industry Research
- By Product :
- Belt Drives
- V-belt Drives
- Synchronous Belt Drives
- Chain Drives
- Couplings
- Clutches
- Others
- By End User :
- Automotive
- Construction
- Food & Beverages
- Metals & Mining
- Others
- By Sales Channel :
- OEMs
- Aftermarket
Key Questions Covered in the Mechanical Power Transmission Market Report
- What is the projected value of the Mechanical Power Transmission factors Industry in 2022?
- At what rate will the global Mechanical Power Transmission factors market size grow until 2032?
- Which are the factors hampering the growth of Mechanical Power Transmission factors?
- Which region is expected to lead in the global Mechanical Power Transmission factors market By 2032?
- Which are the factors driving the Mechanical Power Transmission factors Industry during the forecast period?
- What is the expected market value of the Mechanical Power Transmission factors market during the forecast period?
Regional Analysis For Mechanical Power Transmission Market:
- APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
- Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
- North America (USA, Canada and Mexico)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (Saudi Arabia, United Arab Emirates, South Africa)
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This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on mediarelations@xherald.com.
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