Rockville, MD -- (SBWIRE) -- 04/27/2018 -- The global market discussion on mechanical power transmission can be found in an upcoming report titled "Mechanical Power Transmission Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2028", which is going to be published in the wide database of Fact.MR.
Increasing demand for optimum performance and trouble free operation of the equipment's in various end-use industries are assisting the demand for the mechanical power transmission products. Mechanical power transmission primarily refers to the products utilized in the systems with moving parts as opposed to systems powered electrically. Various types of mechanical power transmission products are available in the market such as chains, belts, couplings, pulleys, sprockets etc. These products provide various advantages which include reduced noise and vibration levels, increased output and reduced replacement and repair costs, lower energy consumption etc.
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Power transmission products significantly affects the total cost of equipment ownership as well as the customer's up-time within an end-use industry, thus they demand technical support, better availability, easier installation, reduced energy consumption, easier installation, reduced noise levels and increased service life and stability.
Global Mechanical Power Transmission Market: Dynamics
Over the recent past, demand for the power transmission products has grown at significant rate, owing to the growing end-use industries such as automotive, food & beverage, construction etc. Automotive OEMs are focussing on reduction of the weight of the vehicles in order to improve fuel efficiency will boost the demand for the lightweight components and thus in turn supporting the growth of various mechanical power transmission products such as belt drives and chain drives etc.
On the other hand, with the slowdown in the economic conditions across the globe, the mechanical power transmission products have faced a certain impact due to the decline in end-use industries.
Key manufacturers of the mechanical power transmission products are found to be involved in the development of innovative product solutions and cutting-edge technologies in order to decrease downtime, improve the output and enhance the system value. Further, with growing competition in the market, both regional as well as global players are engaged in technological innovation and mergers & acquisition activities to gain the market share.
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Global Mechanical Power Transmission Market: Regional Outlook
Considering regions, the global mechanical power transmission market is anticipated to be dominate by Asia-Pacific region owing to the rising demand from various end-use industries across the developing countries such as China and India. North America and Europe are expected to be the most mature markets for the mechanical power transmission products because the manufacturers have limited product offerings in these regions. Middle East & Africa and Latin America are expected to account for small share in the market and anticipated to grow at moderate rate over the forecast period, owing to the slow growth of the end-use industries in various countries.
Global Mechanical Power Transmission Market: Market Participants
Examples of some of the market participants involved in the global Mechanical Power Transmission market include ABB, Altra Industrial Motion, Regal Beloit Corporation, TSUBAKIMOTO CHAIN CO., Renold, Rexnord Corporation, HangZhou DongHua Chain Group Co., Ltd., Gates Corporation, AB SKF, The Timken Company, OPTIBELT GROUP, ContiTech AG, ELECTROMATE INC., Weasler Engineering, BK Power Systems and others.
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