Learn about the global mechanical power transmission equipment market through The Business Research Company, which provides information on mechanical power transmission equipment market size, mechanical power transmission equipment market drivers and restraints, mechanical power transmission equipment market players, the COVID-19 impact on the mechanical power transmission equipment market, and more.

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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 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.

Global Mechanical Power Transmission Equipment Market Segments Include:

By Type: Plain Bearings, Joints, Clutches, Couplings, Pulleys, Chains And Sprockets, Other Mechanical Power Transmission Equipment

By End-User Industry: Automotive, Aerospace & Defence, Power Industry, Other

By Sales Channel: OEM, Aftermarket

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global mechanical power transmission equipment market, accounting for 50% of the market in 2020.

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.

TBRC’s mechanical power transmission equipment market report covers:

Major Market Players: 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.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Mechanical Power Transmission Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030 Mechanical Power Transmission Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides mechanical power transmission equipment market overviews, analyses and forecasts market size, share, mechanical power transmission equipment market players, mechanical power transmission equipment market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s 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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