Power Transmission and Motion Control Market by Component (Services, Solutions, Others), Product (Motors, Gearings, Clutches & Brakes, Belts & Chain Drives, Hydraulics/Pneumatics, Others), Application (Mining, Automotive, Aerospace & Defense, Power Generation, Pulp & Paper, Oil & Gas, Others), and Region - Global Market Size Estimation, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2030
Overview
Power Transmission and Motion Control Market is expected to reach US$ 461.28 Bn. by 2030 at a CAGR of 18.03 during the forecast period.
Power transmission and motion control market Definition
Power transmission is the process of moving energy from its place of generation to a location where it is useful to perform work and motion control is a sub segment of automation which surrounded by the systems or sub-systems involved in moving parts of machines in a controlled means. It is enclosed by a wide variety of electrical, mechanical and fluid-driven equipment such as belts, bearings, motors, drives, gears, clutches, couplings, brakes, linear motion, pneumatics and hydraulics.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
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Power transmission and motion control market Dynamics
Growing advanced technologies in automotive and power generation industries is major driving factor behind the growth of market. Surge in the demand of highly developed and automated processes for factory automation, increased productivity in industries concerning safety, rising need of industrial robots in manufacturing industries, simple handling and addition of components in motion control systems are propelling the growth of market. In addition, development of motion control systems with PLC and HMI and requirement of high performance, high quality solution methods which can enable the machinery to run more efficiently are expected to witness fast growth during forecast period.
Nevertheless, high maintenance and replacement cost could hamper the growth of market. Also no overload protection, high installation and manufacturing accuracy could hinder the growth of market.
Power Transmission and Motion Control Market: Segmentation Analysis
By product, motors and gearings segments dominated the market in 2023 and are expected to maintain their dominance at CAGR of xx% during forecast period. Electric motors and gearings are most accepted choices for power transmission and motion control systems throughout industrial, commercial and automation applications. Motors are the electric machines which convert electrical power to useful mechanical power.
Motors categorized into AC and DC motors. The market of AC motors is expected to witness fast growth at CAGR of xx% during forecast period. AC motors are widely used in motion control system applications which involve high-accuracy positioning equipments, for instance, modern robots, ammonia and air compressors, continuous rolling mills, motor-generator sets with paper and cement industries.
Power Transmission and Motion Control Market: Regional Analysis
Region wise, North America held the largest market share in 2023 and is expected maintain its dominance at CAGR of xx% during forecast period. The US and Canada are major key contributors behind the growth of market. The growth is attributed to the high adoption of power transmission and motion control components in variety of industries such as power, generation, automotive, metal and manufacturing, healthcare, mining, aerospace and others.
Also, massive presence of power transmission and motion control product distributors across the region is improving the growth of market. There are more than 81,500 industrial distribution companies in the U.S. and Canada which includes small and medium businesses to large global enterprises.
Power Transmission and Motion Control Market: Market Strategies
In Oct 2018, Altra Industrial Motion Corp a global manufacturer and marketer of electromechanical power transmission and motion control products announced the completion of Altra’s grouping with four operating companies from Fortive’s Automation & Specialty platform including market leading brands Kollmorgen, Thomson, Portescap and Jacobs Vehicle Systems.
With the completion of grouping, Altra is positioned to drive growth and value creation through its industry-leading positions in the precision motion control market, a stronger position at the higher end of the technology spectrum, increased exposure to higher growth, higher margin end-markets and an enhanced financial profile.
The objective of the report is to present a comprehensive analysis of the Global Power Transmission and Motion Control Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Power Transmission and Motion Control Market dynamics, structure by analyzing the market segments and projects the Global Power Transmission and Motion Control Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Power Transmission and Motion Control Market make the report investor’s guide.
The Scope of Global Power Transmission and Motion Control Market: Inquire before buying
| Global Power Transmission and Motion Control Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 20118 to 2023 | Market Size in 2023: | US $ 144.55 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 18.03% | Market Size in 2030: | US $ 461.28 Bn. |
| Segments Covered: | by Product | Motors Gearings Clutches & Brakes, Belts & Chain Drives Hydraulics/Pneumatics Others |
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| by Component | Services Solutions Others |
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| by Application | Mining Automotive Aerospace & Defense Power Generation Pulp & Paper Oil & Gas Others |
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Power Transmission and Motion Control Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Power Transmission and Motion Control Market, Key Players are:
1. Altra Industrial Motion Corporation
2. Cangro Industries, Inc.
3. Forbes Engineering Sales, Inc.
4. Poklar Power Motion, Inc.
5. Custom Machine & Tool Co., Inc.
6. Plastic PowerDrive Products, LLC
7. E&E Special Products LLC
8. C-Flex Bearing Co., Inc.
9. Servo2Go.com Ltd.
10. NMB Technologies Corporation
11. Applied Motion Products Inc
12. Galil
13. Air Hydro Power
14. Applied Machine & Motion Control, Inc
15. Allied Automation
16. Advanced Motion & Controls
17. Clayton Controls, Inc.
18. Cross Company
19. Electromate Inc
20. Motion Solutions
21. Olympus Controls
22. Braas Company
Frequently Asked Questions:
1. Which region has the largest share in Global Power Transmission and Motion Control Market ?
Ans: Asia Pacific region held the highest share in 2023.
2. What is the growth rate of Global Power Transmission and Motion Control Market ?
Ans: The Global Power Transmission and Motion Control Market is growing at a CAGR of 18.03% during forecasting period 2024-2030.
3. What is scope of the Global market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global market ?
Ans: The important key players in the Global market are – Altra Industrial Motion Corporation, Cangro Industries, Inc., Forbes Engineering Sales, Inc., Poklar Power Motion, Inc., Custom Machine & Tool Co., Inc., Plastic PowerDrive Products, LLC, E&E Special Products LLC, C-Flex Bearing Co., Inc., Servo2Go.com Ltd., NMB Technologies Corporation, Applied Motion Products Inc, Galil, Air Hydro Power, Applied Machine & Motion Control, Inc, Allied Automation, Advanced Motion & Controls, Clayton Controls, Inc., Cross Company, Electromate Inc, Motion Solutions, Olympus Controls, Braas Company.
5. What is the study period of this Market?
Ans: The Global market is studied from 2023 to 2030.