The global mechanical power transmission market is valued at around US$ 65.25 billion in 2022 and is projected to increase at a CAGR of 5.2% to attain a market valuation of US$ 108.3 billion by 2032.
Automotive OEMs are focusing on the reduction of vehicle weight to improve fuel efficiency, which is driving the demand for lightweight components, and, in turn, supporting the demand growth of various mechanical power transmission products such as belt drives and chain drives.
Request Sample https://www.factmr.com/connectus/sample?flag=S&rep_id=561
Key Segments Covered in Mechanical Power Transmission Industry Research
Mechanical Power Transmission Market by Product :
- Belt Drives
- V-belt Drives
- Synchronous Belt Drives
- Chain Drives
Mechanical Power Transmission Market by End User :
- Food & Beverages
- Metals & Mining
Mechanical Power Transmission Market by Sales Channel :
Mechanical Power Transmission Market by Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key manufacturers of mechanical power transmission products are found to be involved in the development of innovative solutions and cutting-edge technologies to decrease downtime, improve output, and enhance system value.
With growing competition in the market, both regional, as well as global players, are engaged in technological innovation and mergers & acquisition activities to gain higher market share.
For instance :
- AmTech International has a variety of custom-made gears for mechanical power transmission. This gear range includes spur gears, bevel gears, and worm gears; these gears are designed according to specifications given by the customers. The company uses high-quality materials such as iron, stainless steel, bronze, and carbon steel.