Global Mechanical Power Transmission Equipment Market – Introduction
- Transferring of mechanical power implies keeping an object in motion. The equipment which transfers energy to other objects transmits pressure and provides motion. Mechanical power transmission equipment converts the rotational movement into linear reciprocating motion or circular movement. Mechanical power and movements are transmitted through a range of components such as belts, chains, gears, couplings, brakes and clutches, and power screws. These products are generally small and compact in size. The engineered mechanisms of the components provide the essential control of equipment speed, torque, and positioning, which can be used in nearly any machine, process, or application involving motion.
Increased usage in automotive sector, transportation, and in factories driving demand
- One of the most common use of mechanical power transmission equipment is seen in the automotive and transportation sector. Components such as clutches provide fuel economy, quicker engine warm-up, increased engine performance, and reduced noise to heavy transport vehicles such as buses and trucks. Custom bearings are designed to provide heat treatment, lubrication, and part geometry to automotive rear door openings. In factories, where industrial repairs are done, manufacture & assembly of machinery parts takes place; here, gearboxes and bearing repairs provide greater reliability and increased performance to run the manufacturing system on new specifications. This improves the efficiency of industrial equipment and machinery in factories. These factors have led to greater use of mechanical power transmission equipment globally.
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Lightweight & easy to handle components, and low maintenance cost leads to rising opportunities in transmitting power mechanically
- Mechanical power transmission equipment are typically lightweight, possess a compact structure, and are suitable for short distance transmission. The rate of transmission of power is accurate, stable, and efficient. The components have a long life, thus maintaining low operating costs. The equipment can be easily installed in any system which requires transfer of mechanical energy to keep the machinery or product in motion. The components maintain the industry standards and suit most installations in systems. All these factors have increased the sales of mechanical power transmission equipment.
Asia Pacific considered the dominant region in the global mechanical power transmission equipment market
- In terms of geography, the global mechanical power transmission equipment market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
- The market in North America and Europe is anticipated to grow at a moderate rate during the forecast period due to increase in usage of mechanical power transmission equipment in heavy-duty industry, material handling, and water & wastewater treatment applications. This increase in demand is due to trouble-free operation essential in various end-use industries such as aerospace & defense, medical and surgical tools, and oil & gas, in the U.S., Canada, Mexico, U.K., Germany, France, etc., which is projected to surge the sales of mechanical power transmission equipment in the near future.
- Asia Pacific accounted for major share of the global mechanical power transmission equipment market in 2019. The market in Asia Pacific is anticipated to expand at a considerable pace during the forecast period due to an increase in number of manufacturers producing mechanical power transmission equipment, government initiatives for increased power transmission in industries such as transportation, factory automation, and food & beverages, in emerging countries such as India, China, Japan, South Korea, and other countries in Southeast Asia. These factors are projected to fuel the demand for mechanical power transmission equipment in Asia Pacific.
Key Players Operating in the Mechanical Power Transmission Equipment Market
Prominent players in the mechanical power transmission equipment market are expected to face intense competition during the forecast period. Companies such as Regal Beloit Corporation, ABB, ERIKS, and Altra Industrial Motion are focusing on manufacturing equipment which can control greater speed, slowdown the motion of a running vehicle immediately, require fewer lubricants, and function for a longer span of time. Some of the key players operating in the global mechanical power transmission equipment market include:
- Regal Beloit Corporation
- Sedan Engineering Enterprises
- Carlisle Brake & Friction
- Altra Industrial Motion
- The Timken Company
- American Crane & Tractor
- NDE Clark Pitchline Limited
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Global Mechanical Power Transmission Equipment – Research Scope
Global Mechanical Power Transmission Equipment, by Type
- Belt Drives
- Chains & sprockets
- Brakes & Clutches
- Others (Actuators)
Global Mechanical Power Transmission Equipment, by Material
- Stainless Steel
- Others (Plastic etc.)
Global Mechanical Power Transmission Equipment, by Price Range
Global Mechanical Power Transmission Equipment, by End-use
- Aerospace & Defense
- Farm & Agriculture
- Oil & Gas
- Metals & Mining
- Others (Renewable Energy)
Global Mechanical Power Transmission Equipment, by Distribution Channel
- Company-owned Websites
- E-commerce Websites
- Specialty Stores
- Other (Retail Stores etc.)
Global Mechanical Power Transmission Equipment, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.