Mechanical Power Transmission Equipment Market Is Likely To See A Massive Surge In Growth In The Forecast Period 2023-2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032.

As per the mechanical power transmission equipment market report by The Business Research Company, the government initiatives that followed the Paris Agreement on climate change are expected to increase the global demand for electric vehicles in the forecast period driving demand for mechanical power transmission equipment.

The global mechanical power transmission equipment market grew from $64.92 billion in 2022 to $70.24 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mechanical power transmission equipment market is expected to grow to $92.39 billion in 2027 at a CAGR of 7.1%.

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Major competitors in the mechanical power transmission equipment market include SKF Group, Schaeffler Technologies AG & Co KG, Mitsubishi Heavy Industries Ltd., The Timken Company, Eaton Corporation plc, Tsubakimoto Chain Co, Altra Industrial Motion Corp, Regal Beloit Corporation, Atkore International Group Inc., and Renold Plc.

The mechanical power transmission equipment market is segmented -
• By Type: Plain Bearings, Joints, Clutches, Couplings, Pulleys, Chains And Sprockets, Other Mechanical Power Transmission Equipment
• By End-User Industry: Automotive, Aerospace & Defense, Power Industry, Other End-User Industries
• By Sales Channel: OEM, Aftermarket
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the mechanical power transmission equipment market in 2022.

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Mechanical power transmission equipment refers to the device used to transfer mechanical energy (physical motion) from one component to another machines.

The Table Of Content For The Mechanical Power Transmission Equipment Market Include:
1. Executive Summary
2. Report Structure
3. Mechanical Power Transmission Equipment Market Characteristics
4. Mechanical Power Transmission Equipment Market Product Analysis
5. Mechanical Power Transmission Equipment Market Supply Chain
6. Mechanical Power Transmission Equipment Market Customer Information
……
21. Key Mergers And Acquisitions In The Mechanical Power Transmission Equipment Market
22. Market Background: Engine, Turbine, And Power Transmission Equipment Manufacturing Market
23. Recommendations
24. Appendix
25. Copyright And Disclaimer

The "Global Mechanical Power Transmission Equipment Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.

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