Mechanical Power Transmission Market Projected to Witness a Single-Digit CAGR During 2018 to 2028

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.

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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
Couplings
Clutches
Others
Based on the end-use industry, the global mechanical power transmission market can be segmented into

Automotive
Construction
Food & Beverages
Metals & Mining
Others
Based on the sales channel, the global mechanical power transmission market can be segmented into

OEM
Aftermarket
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.

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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.

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