Industrial Power Transmission Market Size to Reach US$ 11.0 Billion in 2027, Says Stratview Research

RAIPUR, India, Dec. 29, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Industrial Power Transmission Market by Transmission Type (Belt and Chain), by Application Type (General Industries, Energy & Others, Construction Materials, Food & Beverage, Warehouse & Distribution, Lumber & Aggregates, and Agriculture), by End-User (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027.

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's industrial power transmission market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.

Industrial Power Transmission Market: Highlights from the Report

Industrial power transmission means transfer of energy so that it can be transmitted to the desired application with the appropriate power, speed, and torque. Due to the increasing modernization of existing infrastructure all over the world, the industrial power transmission market is expected to grow significantly. Moreover, considerable R&D investments are pushing the global use of technologically advanced equipment.

Due to increased awareness regarding the reduction of energy loss, manufacturers are focussing on cost-effective and energy-efficient equipment. A favorable business environment has also been created by increased manufacturing operations, especially in developing economies. In 2020, with the abrupt breakout of the COVID-19 pandemic, the market for industrial power transmission suffered a considerable fall of -7.2%. Companies have suffered significant losses because of the lockdown paired with a labor shortage and temporary shutdown of manufacturing plants.

The market is predicted to progressively improve in the coming years, primarily due to rising consumer acceptance. Product demand will be boosted even more by rising investments for technological advancements. Furthermore, favorable regulatory changes and supporting industrial reforms will drive market growth. Overall, in the long run, the industrial power transmission market is expected to grow at a respectable CAGR of 3.4% and reach a value of US$ 11.0 billion in 2027.

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Based on the transmission type, chain is expected to remain the larger transmission type in the market during the forecast period. The wide usage of transmission chains in the chemical, agriculture, oil & gas, pharmaceutical, mining, and construction industries is one of the primary drivers of market expansion. Material handling, manufacturing, and agricultural & food processing equipment are just a few of the applications for industrial roller chains. Roller chains provide machine-driven power to a variety of industrial machinery. It is observed that industrial belts are replacing industrial chains in some applications, owing to certain advantages of belts over chains, such as no requirement of frequent lubrication and reduced noise.

Based on the application type, the market is segmented as general industries, energy & others, construction materials, food & beverage, warehouse & distribution, lumber & aggregates, and agriculture. Warehouse & distribution is expected to be the fastest-growing application type in the market during the forecast period. The warehousing & distribution business is anticipated to grow significantly due to the development of new technologies, increasing imports & exports, and the rapidly expanding e-commerce industry. A boom in commercial activity in rising economies, such as China, India, Indonesia, Russia, and Brazil, is further substantiating the warehousing & storage business.

Based on the end-user type, aftermarket is expected to be the dominant segment of the market during the forecast period. Old chains and belts must be replaced to smooth operations as well as to save manpower, energy, and cost. Manufacturers are switching to new and technologically advanced products.

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In terms of regions, Asia-Pacific is expected to remain the largest as well as the fastest-growing market for industrial power transmission during the forecast period. The market of industrial power transmission will grow significantly due to rapid industrialization in developing nations like China, India, and other South-East Asian countries. Rising energy consumption in emerging economies as well as rising investments to incorporate sustainable and efficient infrastructure are the key factors responsible for the market growth.

Following are the key players in the industrial power transmission market:

• AB SKF
• Bando Group
• Continental AG
• Dayco Corporate
• Gates Corporation
• Optibelt GmbH
• Regal Rexnord
• Regina Catene Calibrate Spa
• Schaeffler Group
• The Morse Chain
• The Timken Company

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

This report studies the industrial power transmission market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:

Industrial Power Transmission Market, by Transmission Type

• Belt (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Chain (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Industrial Power Transmission Market, by Application Type

• General Industries (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Energy & Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Construction Materials (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Food & Beverage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Warehouse & Distribution (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Lumber & Aggregates (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Agriculture (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Industrial Power Transmission Market, by End User Type

• OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Industrial Power Transmission Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Stratview Research has several high value market reports in the engineering industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/engineering.html  

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We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
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