The Global Mechanical Power Transmission Market Is Projected To Increase At A CAGR Of 5.2% To Attain A Market Valuation Of US$ 108.3 Billion By 2032, States Fact.MR

“Growing Usage of Products in Industrial Facilities and Rising Initiatives to Improve Power Transmission Driving Market Expansion in North America & Europe” says a Fact.MR analyst.

United States, Rockville MD, July 14, 2022 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, says that the global mechanical power transmission market would reach US$ 65.25 Bn in 2022 and have a linear growth rate of 6% between 2022 and 2032. Fact.MR highlights that automotive OEMs are emphasizing on reducing weight of the vehicle for improving fuel efficiency.

This is actually increasing demand for the lightweight components, and also helping with growth of several mechanical power transmission products like chain drives and belt drives. As such, the global Mechanical power transmission market is projected to reach US$ 108.3 Bn by the year 2032.

Mechanical power transmission is of utmost importance in the industries manufacturing products for executing proves in a smooth manner. The major advantage is that it is capable of changing rotational speeds and well-equipped with reversing of rotational direction from motor. IT could also split as well as distribute power sources.

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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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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.

“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.

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 Segments Covered in Mechanical Power Transmission Industry Research

  • Mechanical Power Transmission Market by Product :
    • Belt Drives
    • V-belt Drives
    • Synchronous Belt Drives
    • Chain Drives
    • Couplings
    • Clutches
    • Others
  • Mechanical Power Transmission Market by End User :
    • Automotive
    • Construction
    • Food & Beverages
    • Metals & Mining
    • Others
  • Mechanical Power Transmission Market by Sales Channel :
    • OEMs
    • Aftermarket
  • Mechanical Power Transmission Market by Region :
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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More Valuable Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global mechanical power transmission market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights by product (belt drives, V-belt drives, synchronous belt drives, chain drives, couplings, clutches, and likewise), by end-user (automotive, construction, food & beverages, metals & mining, and others), by sales channel (OEMs and aftermarket), and by region (North America, LATAM, Europe, East Asia, South Asia & Oceania, and MEA).

Fact.MR’s Domain Knowledge in Industrial Goods

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs.

With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial goods division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.

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