Allied Market Research

2024

Mechanical Power Transmission Equipment Market

Mechanical Power Transmission Equipment Market Size, Share, Competitive Landscape and Trend Analysis Report by Type and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

CM : Engineering, Equipment and Machinery

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Author's: | Sonia Mutreja
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Mechanical power is the transfer of energy from the source of production to the use of simple equipment, connectors, and mechanical transmitters. Benefit of mechanical power transmission equipment are transmit power effectively, the elements assist in dividing and distributing the source of power to run various mechanisms such as multiple conveyor belts and single motor running to change circular motion speeds, reverse the moving direction from the motor, change movements into linear motion and its reciprocal.

Market Scope and Structure Analysis

The mechanical power transmission equipment market is divided based on type, application, and region. Types of this market are chain drive, gear drive, hydraulic transmission, and other. Based on application, it is categorized as transportation industry, aerospace, automotive and defense, power industry, and others. Based on region, the market is analyzed across North America, Asia-Pacific, LAMEA, Europe. Asia-Pacific has been the largest region in the world of mechanical power transmission equipment, accounting for 50% of the market by 2020. Europe was the other largest area at more than 25% of the global market. Africa was the smallest region in the market for power transmission devices.

COVID-19 Impact analysis

  • COVID-19 virus has closed the manufacturing of many products in the Mechanical Power Transmission Equipment market accolade to the lockdown in worldwide. This has hampered the growth of Mechanical Power Transmission Equipment market from the last few months and is likely to continue during 2021.
  • COVID-19 has so far impacted the sales of Mechanical Power Transmission Equipment Market in the first 4 month of 2021 and is expected to create a negative effect on the growth of market all over the year.
  • By 2020, COVID-19 impact negatively on the Mechanical Power Transmission Equipment Market, leading to a decline in shipping of Mechanical Power Transmission Equipment products as well as revenue received from them. Due to which, the decline in market growth showed in the first half of 2020.
  • During COVID-19, ABB stated that depend on government regulations to limit physical presence level on field, they have made proper arrangements for candidate to work from home, wherever possible. This will continue their management work, but production is closed.
  • Mechanical Power Transmission Equipment companies rely heavily on the supply of raw materials, components, and materials from different countries around the world. With so many governments limiting exports, manufacturers had to stop production due to a shortage of raw materials.
  • The CORONA epidemic has had a devastating effect on Mechanical Power Transmission Equipment Market prices. India, U.S., China, and Japan have been hit hard by the epidemic, are playing a key role in the production of the Mechanical Power Transmission Equipment Products that are being promoted worldwide. Transportation Industry, Automotive, Aerospace and Defense, Power Industry which is expected to continue for a brief period due to land recession.

Top Impacting Factors

The miniaturization of lasers ensures the mobility of the device, and this is expected to be a key factor in driving the global mechanical power transmission equipment market at the time of the weather. however, the decline in the power of laser beams raises doubts among manufacturers to use laser transmitters, thus blocking the mechanical power transmission equipment market at the laser level.

The increase in the manufacture of green cars supported by government efforts will promote a large portion of the population to invest in vehicles run electrically and replace fuel-efficient vehicles, thus driving the market for power transmission market in the coming time, a major supplier of metal car parts to car manufacturers.

Magnetic gears are increasingly being adopted in this industry. Magnetic gears do not touch each other physically, making them 99% or more efficient. Magnetic gear eliminates the need to use any conveyor oil. With less sensitive work environment, gears are more reliable and require less maintenance. The technology also helps prevent damage in the event of an overflow of automatic torque, which means that when the overflow torque is removed, the gears automatically regenerate.

Market Trends

  • In July 2021, ABB has announced it has dealt a memorandum of understanding to split its Transmission power unit from RBC Bearings Incorporate, at a cost of $ 2.9 billion. This will create a growing producer of advanced technology, critical performance, and movement control elements. The process is expected to be completed by the end of 2021, subject to customary closure conditions, including a review of the law.
  • In June 2021, Shanghai Motor Show will attend by Warner Electric, The ERX Brake range is fitted with a pre-designed failsafe Electromagnetic brake for emergency parking and braking. The ERX Brake can be modified to meet application requirements for speed, power or torque, due to 3 different collision factors. In addition to the great braking function, these products can be chosen with diverse options such as lever hand removal, closed protection, detection and restoration of work or a combination of those.

Key Benefits of the Report

  • This study presents the analytical depiction of the mechanical power transmission equipment market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the mechanical power transmission equipment market share.
  • The current market is quantitatively analyzed to highlight the Mechanical Power Transmission Equipment growth market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed Mechanical Power Transmission Equipment Market analysis based on competitive intensity and how the competition will take shape in coming years.

Mechanical Power Transmission Equipment Market Report Highlights

Aspects Details
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By Type
  • Gear Drive
  • Chain Drive
  • Hydraulic Transmission
  • Other
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By Application
  • Transportation Industry
  • Automotive
  • Aerospace & Defense
  • Power Industry
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Timken, ABB, Ingersoll-Rand, Zebra Technologies, Altra, SKF, Gardner Denver, Torotrak, Lufkin Industries, Graham Corporation, Illinois Tool Works

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Mechanical Power Transmission Equipment Market

Global Opportunity Analysis and Industry Forecast, 2023-2032