Fact.MR, a market research and competitive intelligence provider, says that the global mechanical power transmission market would reach US$ 65.25 Bn in 2022 and have a linear growth rate of 6% between 2022 and 2032. Fact.MR highlights that automotive OEMs are emphasizing on reducing weight of the vehicle for improving fuel efficiency.
This is actually increasing demand for the lightweight components, and also helping with growth of several mechanical power transmission products like chain drives and belt drives. As such, the global Mechanical power transmission market is projected to reach US$ 108.3 Bn by the year 2032.
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Mechanical power transmission is of utmost importance in the industries manufacturing products for executing proves in a smooth manner. The major advantage is that it is capable of changing rotational speeds and well-equipped with reversing of rotational direction from motor. IT could also split as well as distribute power sources.
Key Takeaways from Market Study
- North America holds 23.1% of the market share.
- Europe is expected to contribute for 21.3% of the market.
- Rapid technological advancements to keep up the momentum for mechanical power transmission market
“Increasing initiatives regarding improvement of power transmission to keep the cash registers ringing for Europe and North America” says a Fact.MR analyst.
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The key participants are looking through cutting-edge technologies for curtailing the downtime, enhancing output, and bettering the system value.
- AmTech International does have a plethora of the custom-made gears to facilitate mechanical power transmission. The gears include bevel gears, spur gears, and worm gears. They have been designed as per specifications stated by customers. High-quality materials like stainless steel, iron, carbon steel, and bronze are used by the company.
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
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