Global Mechanical Power Transmission Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Mechanical Power Transmission Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Mechanical power transmission is widely used in mechanical engineering, mainly referring to the transmission of power and motion by mechanical means. There are two types: one is the transmission of power and friction transmission by the friction between the parts, and the other is the meshing transmission that transmits the power or movement by the engagement of the active part with the driven part or by the middle piece.

Market Overview:

The latest research study on the global Mechanical Power Transmission market finds that the global Mechanical Power Transmission market reached a value of USD 14591.41 million in 2022. It’s expected that the market will achieve USD 16725.96 million by 2028, exhibiting a CAGR of 2.3% during the forecast period.

Opportunities

Mechanical power transmission manufacturing centers are shifting to developing countries to meet lower market demands with lower costs. Many Mechanical power transmission manufacturers are continually entering these fast-growing countries. Markets in developing countries will provide high-speed growth opportunities for the Mechanical power transmission parts industry. In the future, as Mechanical power transmission parts and components are applied in more and more fields, the Mechanical power transmission market will continue to expand. At the same time, with the globalization of automobiles, construction machinery and home appliance industries, many countries and regions will continue to receive capital in the field of automated production. injection. In many ways, the growth of Asian manufacturing has contributed to the growth of the Mechanical power transmission parts market.

With the continuous advancement of science and technology, the increasing demand of consumers, and the increasing competition in the market, the development of the mechanical transmission parts industry has gradually presented two major characteristics: First, high-tech and mechanical transmission zeros such as electronic technology and material technology. The combination of component products gives new functions such as computerization and program control of mechanical transmission parts. The second is the combination of other industrial products such as plastic products, aluminum products and stainless-steel products with the transmission parts and components, so that the transmission parts products become a composite product with comprehensive functions and wider application.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

Parker Hannifin is one of the major players operating in the Mechanical Power Transmission market, holding a share of 10.35% in 2019.

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions. This segment sells its products to original equipment manufacturers and their replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural, and military machinery and equipment industries. The Aerospace Systems segment offers products for use in commercial and military airframe and engine programs, including control actuation systems and components, engine systems and components, fluid conveyance systems and components, fuel systems and components, fuel tank inserting systems, hydraulic systems and components, lubrication components, pneumatic control components, power conditioning and management systems, thermal management products, and wheels and brakes. This segment markets its products directly to original equipment manufacturers and end users.

ABB Ltd manufactures and sells electrification, industrial automation, and robotics and motion products for customers in utilities, industry and transport, and infrastructure worldwide. Its Electrification Products segment provides electric vehicle charging infrastructure, solar power solutions, modular substation packages, distribution automation products, switchboard and panel boards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions. This segment serves building, data center, rail, wind and solar, distribution utilities, food and beverage, marine, e-mobility, and oil and gas industries. The company’s Robotics and Motion segment offers robotics, motors, generators, drives, wind converters, components and systems for railways and related services, and digital solutions for applications in industries, transportation and infrastructure, and utilities. This segment serves machinery manufacturers, process industries, hybrid and batch manufacturers, transportation equipment manufacturers, discrete manufacturing companies, utilities, and customers in the automotive industry. Its Industrial Automation segment provides process and discrete control solutions, advanced process control software and manufacturing execution systems, sensing, measurement and analytical instrumentation and solutions, electric ship propulsion systems, machine and factory automation solutions.

Segmentation Overview:

Among different product types, Chain Drive segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Transportation Industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Mechanical Power Transmission market covered in Chapter 3:

BOSCH REXROTH
ABB
SKF
Timken
Altra Industrial Motion
Ingersoll-Rand
ContiTech AG
Kawasaki Heavy Industries, Ltd.
Eaton
BHGE
Gardner Denver
IWIS
Parker Hannifin

In Chapter 4 and Chapter 14.2, on the basis of types, the Mechanical Power Transmission market from 2018 to 2029 is primarily split into:

Belt drive
Gear drive
Chain drive
Hydraulic transmission
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Mechanical Power Transmission market from 2018 to 2029 covers:

Transportation Industry
Automotive
Aerospace & Defense
Power Industry
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)