Power Transmission Market by Type, Component, Power Range, End-User

Description

List of Tables

[183 Pages Report] The Power Transmission Market size was estimated at USD 740.40 billion in 2023 and expected to reach USD 828.88 billion in 2024, at a CAGR 12.14% to reach USD 1,652.04 billion by 2030.

Power transmission is a process of transferring energy from its source to a mechanism that performs a specific task. In the context of machines and vehicles, this involves conveying mechanical power from an engine or motor to different parts of the machine to facilitate motion or operation. Power transmission systems are critical for the functioning of various mechanical systems and are designed to deliver power in an efficient, controlled, and safe manner. The growing shift towards electric and hybrid propulsion systems that necessitates the usage and development of novel transmission designs tailored to electric motors' characteristics is driving the growth of the market. Ongoing automation in vehicles and industrial equipment, coupled with the rise of the Internet of Things (IoT) that demands smarter transmission systems capable of communicating with other components, is increasing the usage of power transmission components. Stringent environmental regulations across the globe that demand higher efficiency and lower emissions from machines and vehicles drive the demand for power transmission technologies. The high cost of development and technical limitations with the usage of power transmission hampers the market growth. The emerging trend of eVtol across the military and commercial sectors is expected to create opportunities for the market. Rising innovations in materials science, computer control systems, and alternative power sources are continually expanding the scope of power transmission in both industrial machinery and vehicular technology. Rising advancements in transmission systems for reducing emissions and improving energy conservation across industries are expected to create opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 740.40 billion
Estimated Year [2024]	USD 828.88 billion
Forecast Year [2030]	USD 1,652.04 billion
CAGR (%)	12.14%

Regional Insights

The American power transmission market is characterized by a high level of technological innovation and integration, particularly in North America. The ongoing advancements in the automotive industry and the presence of major manufacturers of off-highway vehicles, such as loaders and trucks used in construction and mining, are creating a platform for market growth in the Americas. Rising demand for electric vehicles (EVs) that propel the requirement for efficient and reliable power transmission systems is expanding the usage of power transmission in the Americas. Additionally, South America is gradually expanding in the power transmission market, with increasing agricultural machinery advancements and rising production of bio-fuel-powered vehicles. The Asia-Pacific region is expected to witness growth in the power transmission market, driven by rapid industrialization and the expansion of the automotive sector in countries including India, China, and Japan. The region's booming manufacturing industry, large population base, and increasing income levels are contributing to the growth of the machinery and vehicles market. Additionally, many countries are investing in improving infrastructure and construction activities, necessitating robust and efficient power transmission systems for heavy equipment and machinery. Europe's power transmission market is growing with a strong focus on energy efficiency and sustainability. The region is witnessing increased adoption of electric and hybrid vehicles, influencing the power transmission sector to develop systems that are compatible with these new energy sources. The Middle East shows growth potential with its investments in infrastructure development, while Africa's market is emerging, with opportunities in the agriculture and construction sectors, which depend heavily on power transmission in machinery.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Power Transmission Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Growing shift towards electric and hybrid propulsion systems worldwide
- Emerging trend of industry 4.0 with rising initiatives for smarter technologies
- High potential of power transmission technologies across the renewable sector

Market Restraints
- High cost of development of power transmission technologies

Market Opportunities
- Growing innovations in the development of power transmission technologies
- Increasing adoption of eVTOL for commercial and military applications

Market Challenges
- Technical limitations with the usage of power transmission technologies

Market Segmentation Analysis
- Type: Growing usage of hydraulic transmission systems for heavy machinery and industrial settings
- Component: Expanding demand for drivetrain that delivers power to the driving wheels
- Power Range: Growing emphasize on power transimmisionn with 150 - 560 kW power range in medium-sized industrial applications
- End-User: Growing potential of power transmission across the automotive industry that handle high torque and rough operating conditions

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Power Transmission Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Power Transmission Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Toyo Acquires Powertrain Dynamometer Specialist Rototest

Toyo, the precision measurement expert based in Japan, strategically enhanced its global capabilities by acquiring its longstanding collaborator, Rototest, a Swedish innovator renowned for its hub-coupled powertrain dynamometers. This acquisition, a pivotal development for Toyo, signifies a merger of strengths, positioning the company to elevate the provision of advanced automotive testing solutions to global manufacturers on a larger scale. [Published On: 2023-12-01]

ABB to Roll Out Electric Powertrain System for ArcelorMittal Nippon Steel

ABB announced a strategic collaboration with SMS group to deliver a comprehensive electric powertrain system for the new hot strip mill at ArcelorMittal Nippon Steel's Hazira facility in Gujarat. This partnership is set to equip the mill with medium-voltage (MV) motors and drives, integral to the plant's expansion that will catapult its production capacity by an additional 5.5 million tonnes annually, commencing operation in 2025. [Published On: 2023-09-20]

Fortescue Expands Battery and Electric Powertrain Output in UK with New Plant

Australian mining corporation Fortescue Metals Group, through its pioneering renewable energy division, Fortescue Future Industries (FFI), announced plans to enhance its manufacturing footprint in the United Kingdom with an advanced battery and electric powertrain production plant in Oxfordshire. Fortescue's latest facility aims to redefine power transmission in heavy industry, producing state-of-the-art, zero-emission electric powertrain systems while offering sophisticated automated assembly for battery modules and packs. [Published On: 2023-06-19]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Power Transmission Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Power Transmission Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., AISIN CORPORATION, Alstom SA, Analog Devices, Inc., AVL LIST GMBH, Avnet, Inc., BorgWarner Inc., Continental AG, Cummins Inc., Dana Incorporated, DENSO Corporation, Dr. Ing. h.c. F. Porsche AG, Eaton Corporation PLC, Evolito Ltd., General Electric, Hitachi Energy Ltd., Hyundai Motor Company, Infineon Technologies AG, Magna International Inc., Mahle GmbH, Marelli Holdings Co., Ltd., Mitsubishi Electric Corporation, Nidec Corporation, Nissan Motor Co., Ltd., NXP Semiconductors N.V., Panasonic Holding Corporation, PCS Instruments, Punch Powertrain nv, Robert Bosch GmbH, Rolls-Royce plc, Safran Group, Siemens AG, Tata Motors Limited, Tenneco Inc., Toshiba Energy Systems & Solutions Corporation, Toyota Industries Corporation, Valeo Group, VERNET GROUP, ZeroAvia, Inc., and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Power Transmission Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Electric
- Hydraulic
- Mechanical
- Pneumatic

Component
- Couplings, Clutches, & Brakes
- Drivetrain
- Gears & Shafts
- Prime Mover
- Pulleys, Belts, & Chains

Power Range
- 1,500 kW & Above
- 151 - 560 kW
- 561 - 1,500 kW
- Up to 150 kW

End-User
- Aerospace & Defence
  - Commercial
  - Military

Agriculture
Automotive & Transportation
- Commercial
- Military

Construction
Energy
Oil, Gas & Mining

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-986F8D8B4751

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing shift towards electric and hybrid propulsion systems worldwide
  - 5.1.1.2. Emerging trend of industry 4.0 with rising initiatives for smarter technologies
  - 5.1.1.3. High potential of power transmission technologies across the renewable sector
- 5.1.2. Restraints
  - 5.1.2.1. High cost of development of power transmission technologies
- 5.1.3. Opportunities
  - 5.1.3.1. Growing innovations in the development of power transmission technologies
  - 5.1.3.2. Increasing adoption of eVTOL for commercial and military applications
- 5.1.4. Challenges
  - 5.1.4.1. Technical limitations with the usage of power transmission technologies
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing usage of hydraulic transmission systems for heavy machinery and industrial settings
- 5.2.2. Component: Expanding demand for drivetrain that delivers power to the driving wheels
- 5.2.3. Power Range: Growing emphasize on power transimmisionn with 150 - 560 kW power range in medium-sized industrial applications
- 5.2.4. End-User: Growing potential of power transmission across the automotive industry that handle high torque and rough operating conditions
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Power Transmission Market, by Type

6.1. Introduction
6.2. Electric
6.3. Hydraulic
6.4. Mechanical
6.5. Pneumatic

7. Power Transmission Market, by Component

7.1. Introduction
7.2. Couplings, Clutches, & Brakes
7.3. Drivetrain
7.4. Gears & Shafts
7.5. Prime Mover
7.6. Pulleys, Belts, & Chains

8. Power Transmission Market, by Power Range

8.1. Introduction
8.2. 1,500 kW & Above
8.3. 151 - 560 kW
8.4. 561 - 1,500 kW
8.5. Up to 150 kW

9. Power Transmission Market, by End-User

9.1. Introduction
9.2. Aerospace & Defence
9.3. Agriculture
9.4. Automotive & Transportation
9.5. Construction
9.6. Energy
9.7. Oil, Gas & Mining

10. Americas Power Transmission Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Power Transmission Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Power Transmission Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Toyo Acquires Powertrain Dynamometer Specialist Rototest
- 13.3.2. ABB to Roll Out Electric Powertrain System for ArcelorMittal Nippon Steel
- 13.3.3. Fortescue Expands Battery and Electric Powertrain Output in UK with New Plant
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio