Mechanical power transmission equipment market comprises of the sales of mechanical power transmission equipment & related services by numerous entities (sole traders & partnerships and organizations) that produce mechanical power transmission equipment (except aircraft and motor vehicle), such as clutches, couplings, joints, plain bearings and drive chains. Mechanical power transmission equipment converts or transfers the rotational movement into linear reciprocating motion or circular movement. Mechanical power & movements are transmitted by a range of components including belts, couplings, chains, gears, brakes & clutches, and power screws. These products are commonly small and compact in size.
Mechanical power transmission equipment or machines are generally lightweight, suitable for short distance transmission and possess a compact structure. The rate of transmission of power is stable, accurate, and efficient. These machine’s components have a long life, therefore maintain low operating costs. These types of machines or equipment can be easily installed in any system that requires transfer of mechanical energy to keep the machinery in motion. All machinery components maintain the industry standards and appropriate most installations in systems. All these factors have enhanced the sales of mechanical power transmission equipment. The main use of mechanical power transmission equipment is seen in the transportation and automotive sector. Components including clutches provide fuel economy, increased engine performance, quicker engine warm-up, and reduced noise to heavy transport vehicles like buses and trucks.
As per analysis, “Mechanical Power Transmission Equipment Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global mechanical power transmission equipment market include Timken; SKF; ABB; Altra; Gardner Denver and among others. The major companies are focusing on manufacturing equipment that can control greater speed, require fewer lubricants, slowdown the motion of a running vehicle immediately, and function for a longer span of time.
Based on type, mechanical power transmission equipment market is segmented as joints, pulleys, couplings, clutches, plain bearings, chains & sprockets and others. Based on sales channel, market is categorized as aftermarket and original equipment manufacturer (OEM). In addition, based on end-user industry, market is segmented as aerospace & defense, automotive industry, power industry and others.
The mechanical power transmission equipment market is driven by rise in demand for electric vehicles, followed by increase in the production of green vehicles supported by governments’ initiatives. However, increase of the production cost and tariffs may impact the market.
Based on geography, the Asia-Pacific region holds major share in global market owing to increase in government initiatives for increased power transmission in industries for instance transportation, food & beverages and factory automation in emerging countries such as China, India, Japan, South Korea, and other countries in Southeast Asia. The North-America and Europe regions are estimated to witness higher growth rate due to rise in usage of mechanical power transmission equipment in material handling, heavy-duty industry, and water & wastewater treatment applications over the forecast period. It is anticipated that future of the global market will be optimistic as a result of growth in number of manufacturers producing mechanical power transmission equipment during the forecast period.
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Ankur Gupta, Head Marketing & Communications