Dublin, March 24, 2021 (GLOBE NEWSWIRE) -- 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.
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Description:
Where is the largest and fastest growing market for mechanical power transmission equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Mechanical Power Transmission Equipment market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider mechanical power transmission equipment market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The mechanical power transmission equipment market section of the report gives context. It compares the mechanical power transmission equipment market with other segments of the engine, turbine, and power transmission equipment market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, mechanical power transmission equipment indicators comparison.
Major companies in the mechanical power transmission equipment market include ABB; Altra; Timken; SKF and Gardner Denver.
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%.
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. The mechanical power transmission equipment market is segmented into plain bearings; joints; clutches; couplings; pulleys; chains and sprockets; and other mechanical power transmission equipment.
Asia Pacific was the largest region in the global mechanical power transmission equipment market, accounting for 50% of the market in 2020. Western Europe was the second largest region accounting for 29% of the global mechanical power transmission equipment market. Africa was the smallest region 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.
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
3.1. Market Definition
3.2. Key Segmentations
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)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
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, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.2. Global Mechanical Power Transmission Equipment Market, Segmentation by End-User Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.3. Global Mechanical Power Transmission Equipment Market, Segmentation by Sales Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
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
13. Asia-Pacific Mechanical Power Transmission Equipment Market
14. Western Europe Mechanical Power Transmission Equipment Market
15. Eastern Europe Mechanical Power Transmission Equipment Market
16. North America Mechanical Power Transmission Equipment Market
17. South America Mechanical Power Transmission Equipment Market
18. Middle East Mechanical Power Transmission Equipment Market
19. Africa Mechanical Power Transmission Equipment Market
20. Mechanical Power Transmission Equipment Market Competitive Landscape
20.1. Competitive Market Overview
20.2. Market Shares
20.3. Company Profiles
20.3.1. ABB
20.3.1.1. Company Overview
20.3.1.2. Products and Services
20.3.1.3. Strategy
20.3.1.4. Financial Performance
20.3.2. Altra
20.3.2.1. Company Overview
20.3.2.2. Products and Services
20.3.2.3. Strategy
20.3.2.4. Financial Performance
20.3.3. Timken
20.3.3.1. Company Overview
20.3.3.2. Products and Services
20.3.3.3. Strategy
20.3.3.4. Financial Performance
20.3.4. SKF
20.3.4.1. Company Overview
20.3.4.2. Products and Services
20.3.4.3. Strategy
20.3.4.4. Financial Performance
20.3.5. Gardner Denver
20.3.5.1. Company Overview
20.3.5.2. Products and Services
20.3.5.3. Strategy
20.3.5.4. Financial Performance
21. Key Mergers and Acquisitions in the Mechanical Power Transmission Equipment Market
22. Market Background: Engine, Turbine, and Power Transmission Equipment Manufacturing Market
22.1. Engine, Turbine, and Power Transmission Equipment Manufacturing Market Characteristics
22.2. Engine, Turbine, and Power Transmission Equipment Manufacturing Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F Growth, by Segment, Value ($ Billion), Global
22.3. Global Engine, Turbine, and Power Transmission Equipment Manufacturing Market, 2020, by Region, Value ($ Billion)
22.4. Global Engine, Turbine, and Power Transmission Equipment Manufacturing Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
22.5. Global Engine, Turbine, and Power Transmission Equipment Manufacturing Market, 2015-2020, 2020-2025F, 2030F, Segmentation by Type, Value ($ Billion)
23. Recommendations
23.1. Global Mechanical Power Transmission Equipment Market in 2025- Growth Countries
23.2. Global Mechanical Power Transmission Equipment Market in 2025- Growth Segments
23.3. Global Mechanical Power Transmission Equipment Market in 2025- Growth Strategies
24. Appendix
24.1. NAICS Definitions of Industry Covered in This Report
24.2. Abbreviations
24.3. Currencies
24.4. Research Inquiries
24.5. About the Publisher
25. Copyright and Disclaimer
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