Press release
Power Transmission and Motion Control Market 2018-2023 Global Key Leaders by Plastic Power Drive Products, Forbes Engineering Sales, Cangro Industries, Poklar Power Motion, Altra Industrial Motion
Power Transmission and Motion Control Market is growing rapidly over 30% of CAGR and is expected to reach at $ 255 Billion by Forecast to 2018, Market Highlights:
Market Synopsis
Market Research Future (MRFR), the global market for power transmission and motor control is expected to reach USD 255 Bn by 2023. With a CAGR of 30 %, the market is expected to expand rapidly over the assessment period (2017-2023). Power transmission and motion control offer high-performance and high-quality solutions which enable machinery to run efficiently.
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Competition Analysis
The prominent players operating the global market for power transmission & motion control are Plastic Power Drive Products LLC. (U.S.), Forbes Engineering Sales Inc. (U.S.), Cangro Industries Inc. (U.S.), Poklar Power Motion Inc. (U.S.), Altra Industrial Motion Corporation (U.S.), E&E Special Products LLC (U.S.), Custom Machine & Tool Co. Inc. (U.S.), Servo2Go.com Ltd. (U.S.), C-Flex Bearing Co. Inc. (U.S), NMB Technologies Corporation (U.S.) and Applied Motion Products Inc. (U.S), and more.
Global Power Transmission & Motion Control Market Segmentation:
Globally, the market for Power Transmission and Motion Control Market can be segmented based on component, product, application, and region.
The market has been segmented into hydraulics and pneumatics, motors, bearings, belts & chain drivers, clutches & brakes, and others based on products.
The market has been segmented into solutions, services, and others based on components.
The market has been segmented into power generation, pulp & paper, automotive, oil & gas, mining, aerospace & defense, and others based on application. Automobiles previously used simple mechanisms to transport people, goods, and creatures from one place to another. Nowadays, the tasks remain the same but they boast high-end and sophisticated features with the help of motion control.
The market has been spanned across Europe, Asia Pacific, North America, and Rest-of-the-World (RoW) based on region.
North America Dominates the Global Market:
North America is one of the leading regions globally in terms of market share owing to its huge demand in sectors like healthcare, mining, automotive, aerospace, and others. Owing to the extend component life, increase efficiency, and reduced long-term operating costs are the major factors driving the market growth. Automation requires smart, safe, and sustainable production and delivery. The motion control helps to improve system operations and performance and helps to gain process effectiveness.
While in European regions, the market is expected to witness rapid growth in the forthcoming period, Asia Pacific countries such as Japan, China, and India is expected to emerge and showcase the highest CAGR over the assessment period.
Drivers and Constraints Affecting the Market Growth:
Power transmission and motion control products are offering environmental friendly business ventures and green products to customers which are fuelling the market growth to a large extent. Power transmission and motion control components comprise timing belts, pulleys, bushings, gearboxes, a host of shaft couplings, linear motion slides and actuators, and bore reducers, which have a high market demand and are extensively used in mechanical drive trains to create movement. These products are gaining momentum as they are utilized in high-volume manufacturing process.
Meanwhile, loss of electrical energy in long-distance transmission is one of the major restraining factor affecting the global market growth for power transmission and motion control.
Industry News:
The Power Transmission Distributor Association welcomed two distributors and manufacturer members. The distributor members include Misumi USA and Verona Industrial Equipment L.L.C., and the manufacturer members include Habasit America, and Jones Bearing Co. Misumi is the supplier for mechanical components for press die and plastic mold components, factory automation, gauges, and cutting tools. Verona sells and distributes drivers and starter controls, electric motors, and gearbox equipment for applications like automotive, machine manufacturers, heavy industrial manufacturing, and process industries. Habasit is a supplier for conveyor belting products and power transmission. Jones is a manufacturer of mounted roller bearings.
Market Research Analysis:
On geographic basis, global power transmission and motion control market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with market share growth in the power transmission and motion control market. The power transmission and motion control is gaining huge demand due to the presence of major players such as Custom Machine & Tool Co., Inc. (U.S.)), Forbes Engineering Sales, Inc. (U.S.) in these regions. In this market, Europe is to be estimated to be the second largest market share for power transmission and motion control during the forecast period due to economic development and industrial production in Europe.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Market Research Future
Office No. 528, Amanora Chambers
Pune – 411028
Maharashtra, India
Phone: +91 841 198 5042
Mail: sales@marketresearchfuture.com
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