The Business Research Company’s mechanical power transmission equipment manufacturing global market report, covers the year-on-year growth of the global mechanical power transmission equipment manufacturing market historic and forecast growth. It also includes chapters on the mechanical power transmission equipment manufacturing market trends, geographical analysis, and competitive landscape.
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The mechanical power transmission equipment manufacturing market size is expected to reach a higher value by 2022, growing at a steady CAGR during the forecast period.
Mechanical Power Transmission Equipment Manufacturing Market Trends
The mechanical power transmission equipment manufacturing market consists of sales of mechanical power transmission equipment 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.
Many machine manufacturing companies are using robotics and automation to improve assembly and warehouse operations efficiency. Sensors are being used in various machines to access invaluable data for improving efficiencies and reduce potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG) in 2015, 1.2 million industrial robots are expected to be deployed by 2025, thus indicating rise in automation and robotics technology adoption to improve productivity and reduce production costs.
The global mechanical power transmission equipment manufacturing market is primarily driven by expansion of renewable energy resources across the countries and government initiatives in nations such as China and India.
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The global mechanical power transmission equipment manufacturing market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With increase in positive economic outlook and emerging markets growth, the global mechanical power transmission equipment manufacturing market is expected to increase in potential and scope. TBRC’s report also covers the mechanical power transmission equipment manufacturing drivers and restraints in the market.
The global mechanical power transmission equipment manufacturing market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global mechanical power transmission equipment manufacturing market report are ABB, Altra, Timken, SKF, and Gardner Denver.
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