Global Mechanical Power Transmission Equipment Market Trends And Strategies Of Major Players In The Mechanical Power Transmission Equipment Market 2021-2030

17 Mar, 2021

The mechanical power transmission equipment market consists of sales of mechanical power transmission equipment and related services by entities (organizations, sole traders or partnerships) that produce mechanical power transmission equipment (except motor vehicle and aircraft), such as plain bearings, clutches, couplings, joints, and drive chains. The mechanical power transmission equipment market is segmented into plain bearings, joints, clutches, couplings, pulleys, chains and sprockets, and other mechanical power transmission equipment.

Global Mechanical Power Transmission Equipment Market Size And Drivers:

The global mechanical power transmission equipment market is expected to grow from $54.58 billion in 2020 to $56.91 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. The market is expected to reach $77.36 billion in 2025 at a CAGR of 8%.

Government initiatives that followed the Paris Agreement on climate change signed in 2016 are expected to increase the global demand for electric vehicles in the forecast period driving demand for mechanical power transmission equipment.

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Trends In The Global Mechanical Power Transmission Equipment Market

Magnetic gears are being increasingly adopted in the mechanical power transmission equipment industry. Magnetic gears are physically contactless, which make them enable efficiencies up to 99% or more. The magnetic gears obviate the need for using any transmission oil. With the nature of a contact-less operation, the gears are highly reliable and require minimal maintenance. The technology also helps prevent damage in case of a torque overload by auto-slipping, i.e., when the overload torque is removed, the gears also re-engage automatically.

Global Mechanical Power Transmission Equipment Market Segments:
The global mechanical power transmission equipment market is further segmented based on type, end user industry, sales channel and geography.
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
By Sales Channel: OEM, Aftermarket
By Geography: The global mechanical power transmission equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global mechanical power transmission equipment market, accounting for 50% of the total market.

Read More On The Report For The Global Mechanical Power Transmission Equipment Market At:

https://www.thebusinessresearchcompany.com/report/mechanical-power-transmission-equipment-global-market-report-2020-30-covid-19-impact-and-recovery

Mechanical Power Transmission Equipment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides mechanical power transmission equipment market overviews, analyzes and forecasts market size and growth for the global mechanical power transmission equipment market, mechanical power transmission equipment market share, mechanical power transmission equipment market players, mechanical power transmission equipment market segments and geographies, mechanical power transmission equipment market’s leading competitors’ revenues, profiles and market shares. The mechanical power transmission equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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