Mar 19, 2021   SOURCE: BusinessWire

Insights on the Mechanical Power Transmission Equipment Global Market to 2030 - Identify Growth Segments for Investment - ResearchAndMarkets.com

The "Mechanical Power Transmission Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global mechanical power transmission equipment market as it emerges from the COVID-19 shut down.

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%.

Companies Mentioned

  • ABB
  • Altra
  • Timken
  • SKF
  • Gardner Denver

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

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.

Many developed and developing economies are imposing restrictions on free trade, which are expected to hinder the growth of the mechanical power transmission equipment market in the forecast period. Post Brexit, trade restrictions between the UK and other European countries are likely to increase, while the new trade agreement between the USA, Canada and Mexico, USMCA, imposed by the USA President Donald Trump, is expected to increase the prices of metal components imported from Mexico. The increase of tariffs on foreign steel especially from China by the USA government in 2018 to 25% has increased the production cost of the mechanical power transmission equipment. Therefore, reduction in the world free trade is expected to hinder the mechanical power transmission equipment market due to expected increase of the production cost and tariffs.

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. For example, China plans to have at least 20% of the vehicle production to be represented by electric and hybrid vehicles by 2025 , Norway's share of sales of electric vehicles among other types of vehicles is expected to increase to 100% by 2025 and California's plan to sell "green" vehicles representing 35% of the total sales by 2025 was signed by 9 USA states. Expected increase in the production of green vehicles supported by governments' initiatives will encourage a significant proportion of population to invest in electric vehicles and replace their existing automobiles that are running on fossil fuels, thereby driving the mechanical power transmission equipment market in the forecast period, a major supplier of metal automobile components to the automobile manufacturers.

Key Topics Covered:

1. Executive Summary

2. Report Structure

3. Mechanical Power Transmission Equipment Market Characteristics

4. Mechanical Power Transmission Equipment Market Product Analysis

4.1. Leading Products/ Services

4.2. Key Features and Differentiators

4.3. Development Products

5. Mechanical Power Transmission Equipment Market Supply Chain

5.1. Supply Chain

5.2. Distribution

5.3. End Customers

6. Mechanical Power Transmission Equipment Market Customer Information

6.1. Customer Preferences

6.2. End Use Market Size and Growth

7. Mechanical Power Transmission Equipment Market Trends and Strategies

8. Impact of COVID-19 on Mechanical Power Transmission Equipment

9. Mechanical Power Transmission Equipment Market Size and Growth

9.1. Market Size

9.2. Historic Market Growth, Value ($ Billion)

9.3. Forecast Market Growth, Value ($ Billion)

10. Mechanical Power Transmission Equipment Market Regional Analysis

10.1. Global Mechanical Power Transmission Equipment Market, 2020, by Region, Value ($ Billion)

10.2. Global Mechanical Power Transmission Equipment Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region

10.3. Global Mechanical Power Transmission Equipment Market, Growth and Market Share Comparison, by Region

11. Mechanical Power Transmission Equipment Market Segmentation

11.1. Global Mechanical Power Transmission Equipment Market, Segmentation by Type

11.2. Global Mechanical Power Transmission Equipment Market, Segmentation by End-User Industry

11.3. Global Mechanical Power Transmission Equipment Market, Segmentation by Sales Channel

12. Mechanical Power Transmission Equipment Market Metrics

12.1. Mechanical Power Transmission Equipment Market Size, Percentage of GDP, 2015-2025, Global

12.2. Per Capita Average Mechanical Power Transmission Equipment Market Expenditure, 2015-2025, Global

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