The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global mechanical power transmission equipment market is surging ahead, marking a robust growth from $64.92 billion in 2022 to $70.24 billion in 2023, at a compelling Compound Annual Growth Rate (CAGR) of 8.2%. The trajectory continues to ascend, with projections envisioning a market size of $92.39 billion by 2027, sustaining a steady CAGR of 7.1%.

Green Drive: Government Initiatives and Electric Vehicles

• Climate Accord Initiatives:
  • Government initiatives following the Paris Agreement on climate change are poised to propel the demand for electric vehicles globally.
  • Initiatives are aligned with sustainable goals, encouraging the adoption of eco-friendly transportation solutions.
• Global Electric Vehicle Demand:
  • China aims for at least 20% of its vehicle production to comprise electric and hybrid vehicles by 2025.
  • Norway anticipates a 100% share of electric vehicle sales among other vehicle types by 2025.
  • California and nine other U.S. states commit to selling “green” vehicles, constituting 35% of total sales by 2025.
• Mechanical Power Transmission Impact:
  • The anticipated surge in green vehicle production, driven by governmental support, will fuel demand for mechanical power transmission equipment.
  • As major suppliers of metal automobile components adapt to the electric vehicle trend, the mechanical power transmission market stands to benefit.

Industry Titans: Leading the Charge
Major players in the mechanical power transmission equipment market are at the forefront, steering the industry’s trajectory:

• Key Industry Players:
  • SKF Group
  • Schaeffler Technologies AG & Co KG
  • Mitsubishi Heavy Industries Ltd.
  • The Timken Company
  • Eaton Corporation plc
  • Tsubakimoto Chain Co
  • Altra Industrial Motion Corp
  • Regal Beloit Corporation
  • Atkore International Group Inc.
  • Renold Plc.

Tech Revolution: Magnetic Gears in Focus

• Rising Adoption of Magnetic Gears:
  • Magnetic gears are gaining traction in the mechanical power transmission equipment industry.
  • Offering a contact-less operation, magnetic gears achieve efficiencies of up to 99% or more.
• Maintenance Advantages:
  • With minimal maintenance requirements, magnetic gears stand out for their reliability.
  • The contact-less nature obviates the need for transmission oil, contributing to cleaner and efficient operations.
• Torque Overload Protection:
  • Magnetic gears prevent damage in case of torque overload by auto-slipping.
  • When the overload torque is removed, the gears re-engage automatically, ensuring operational integrity.

Navigating Segmentation: Unveiling Industry Dimensions
The global mechanical power transmission equipment market unfolds through a meticulous segmentation:

1. By Type:
   • Plain Bearings
   • Joints
   • Clutches
   • Couplings
   • Pulleys
   • Chains And Sprockets
   • Other Mechanical Power Transmission Equipment
2. By End-User Industry:
   • Automotive
   • Aerospace & Defense
   • Power Industry
   • Other End-User Industries
3. By Sales Channel:
   • OEM
   • Aftermarket

Regional Vanguard: Asia-Pacific Driving Growth

• Geographical Momentum:
  • In 2022, Asia-Pacific emerged as the largest region in the mechanical power transmission equipment market.
  • The region is anticipated to sustain its dominance, acting as the epicenter of the market’s fastest-growing trends during the forecast period.

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The Mechanical Power Transmission Equipment Global Market Report 2023 provides an overviewof the mechanical power tansmission equipment market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The mechanical power tansmission equipment market forecast analyzes mechanical power tansmission equipmentmarket size, mechanical power tansmission equipment market share,leading competitor and their market positions.

The Table Of Content For The Mechanical Power Transmission Equipment Market Include:
1. Mechanical Power Transmission Equipment Market Executive Summary
2. Mechanical Power Transmission Equipment Market Segments
3. Mechanical Power Transmission Equipment Market Size And Mechanical Power Transmission Equipment Market Growth Rate
4. Key Mechanical Power Transmission Equipment Market Trends
5. Major Mechanical Power Transmission Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Mechanical Power Transmission Equipment Market
26. Top Mechanical Power Transmission Equipment Companies
27. Mechanical Power Transmission Equipment Market Opportunities And Strategies
28. Mechanical Power Transmission Equipment Market, Conclusions And Recommendations
29. Appendix

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