Global Mechanical Drive Market for Mining Industry 2017-2021

The key findings from our mechanical drive market forecast report for mining industry  are summarized below

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Global Mechanical Drive Industry Outlook for Mining Industry

According to the mechanical drive market for mining industry analysis, the rise in demand for coal and other metals and minerals will be one of the major factors that will have a positive impact on the growth of the market. Technavio’s market research analysts predict that this market will grow at a CAGR of almost 3% by 2021. China, the UAE, India, and Brazil are investing heavily in oil and gas production and coal mining activities to meet the energy demand, which will, in turn, drive the demand for mechanical drives. The utilization of coal for electricity production in APAC is more than 50% and coal accounts for almost 80% of the electricity generated in China and India. Additionally, the increased construction activities of buildings, roads, and bridges drive the demand for coal, as it is used in steel and cement manufacturing. This will positively influence the investments in the mining industry, which in turn, will drive the mechanical drives demand for the mining industry.

The advancement in the belt drive technology is one of the latest trends that will contribute to the growth of this market in the forthcoming years. The emergence of new improvements in the belt drive industry will result in the development and introduction of stronger, cleaner, and efficient belts. Some of the major vendors have introduced polyurethane and carbon-reinforced belts that can withstand bulkier materials and have a power transmission capacity that is five times higher than a conventional belt. These high technology polyurethane belts can be used in end-user sectors such as industrial machinery, agriculture, and material handling, in turn, boosting the mechanical drives for mining market growth.

Competitive landscape and key vendors  

The mechanical drive market for mining industry consists of many international players with customer bases across national borders. The market also has smaller regional vendors who cater to the needs of the local customers. In addition to the major vendors, numerous regional and local vendors have also started manufacturing customized and energy-efficient mechanical drives for the mining industry. The market is quite competitive and with the introduction of products with new features and technologies, the level of competition among the market players will become more intense.

The report offers a detailed analysis of several leading companies, including:

• ABB
• Nidec
• Siemens
• SKF

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Segmentation by product and analysis of the mechanical drive market for mining industry

• Gear drive
• Belt drive
• Antifriction bearing
• Chain drive
• Coupling

During 2016, the industrial gear drive segment accounted for the largest mechanical drive market for mining industry share. Benefits such as the reduction in the complexity and cost of designing and constructing machines, power tools, and appliances used in the mining industry will contribute to the growth of this market segment.

Geographical segmentation and analysis of the mechanical drive market for mining industry

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the mechanical drive market for mining industry throughout the forecast period. The presence of major developing economies such as India, China, Indonesia, and the Philippines and the high requirement for energy and infrastructure development, will drive the growth of the market in this region, in turn, gaining the largest mechanical drive for mining market share during the predicted period.

Key highlights of the global mechanical drive market for mining industry for the forecast years 2017-2021:

• CAGR of the market during the forecast period 2017-2021
• Detailed information on factors that will accelerate the growth of the mechanical drive market for mining industry during the next five years
• Precise estimation of the global mechanical drive market size for mining industry  and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• Growth of the mechanical drive market for mining industry across various geographies such as the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive information about factors that will challenge the growth of mechanical drive companies

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