Global Mechanical Power Transmission Equipment Market Trends, Strategies, And Opportunities In The Market 2021-2030
The Business Research Company’s Mechanical Power Transmission Equipment Global Market Report 2021:COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, August 24, 2021 /EINPresswire.com/ — According to the new market research report ‘Mechanical Power Transmission Equipment Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the 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 growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. 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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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.
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 contact-less, 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, the Asia-Pacific mechanical power transmission equipment market accounts for the largest share in the global mechanical power transmission equipment 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.
Read Mechanical Power Transmission Equipment Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Mechanical Power Transmission Equipment Market Organizations Covered: ABB, Altra, Timken, SKF, Gardner Denver.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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