“The Power Transmission Motion Control Market is poised to grow by USD 284.40 billion during 2022-2026, accelerating at a CAGR of 17.41% during the forecast period”

Technavio market report provides a holistic analysis, market size and forecast, trends, growth drivers, challenges, and vendor analysis covering around 15 vendors. This power transmission motion control market research report extensively covers power transmission motion control market segmentation by component (solutions and services) and geography (North America, Europe, APAC, MEA, and South America). The market report also offers information on several market vendors, including Altra Industrial Motion Corp., Cangro Industries Inc., C-Flex Bearing Co. Inc., Custom Machine and Tool Co. Inc., E and E Special Products LLC, Electromate Inc., Forbes Engineering Sales Inc., MinebeaMitsumi Inc., Poklar Power Motion Inc., and Servo2Go.com Ltd. among others.

What will the Power Transmission Motion Control Market Size be During the Forecast Period?

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Parent Market Analysis

Our Technavio Research categorizes the report belonging to Electrical Equipment Industry for the market. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions.

Power Transmission Motion Control Market: Key Drivers, Trends, and Challenges

Technavio Research categorizes the global Power Transmission Motion Control Market belonging to the Capital Goods Industry. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

The market is extremely competitive with all sizes of businesses, including large, medium, and small-sized companies vying to monopolize the market. The tremendous development in various fields such as product innovations and new product launches by manufacturers operating in the market will drive the growth further.

Key Power Transmission Motion Control Market Driver

• One of the key factors driving growth in the power transmission motion control market is the high adoption of advanced and automated processes in the manufacturing sector.
•  The rising need for energy-efficient solutions to improve manufacturing processes in companies all around the world has fuelled the demand for high-precision automated procedures. Automated procedures assist businesses in increasing productivity and lowering product life cycle costs. Therefore, power transmission motion control systems are being used in a variety of industries, with electronics and semiconductors, food and beverage, automotive, and chemical industries leading the way.
• The rising demand for high-quality products is likely to drive the need for industrial automation. As a result, it is expected that the adoption of power transmission motion control systems would increase to reduce energy consumption while increasing output.

Key Power Transmission Motion Control Market Challenge

• The high repair and upgradation costs for machines will be a major challenge for the power transmission motion control market during the forecast period. 
• Maintenance and repair grow more expensive and, in some cases, impossible as machinery ages. A large number of components are necessary to construct a power transmission motion control system, which directly affects the cost of machine replacement and maintenance.
• The more components there are, the more costly the spare parts inventory is. As a result, using a power transmission motion control system is a costly operation.
• The majority of end-users demand effective technology that is also cost-efficient. However, because of the high cost, end-users are unwilling to procure motion control systems. Furthermore, the components needed to use the power transmission motion control system are expensive, which raises the technology's inventory cost. This will impede the growth of the power transmission motion control market during the forecast period. 

Who are the Major Power Transmission Motion Control Market Vendors?

The vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading market vendors such as

• Altra Industrial Motion Corp.
• Cangro Industries Inc.
• C-Flex Bearing Co. Inc.
• Custom Machine and Tool Co. Inc.
• E and E Special Products LLC
• Electromate Inc.
• Forbes Engineering Sales Inc.
• MinebeaMitsumi Inc.
• Poklar Power Motion Inc.
• Servo2Go.com Ltd.

Market Overview

Technavio calculates the global electrical components and equipment market size based on combined revenue generated by manufacturers of water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, and others. In addition, renting and leasing electrical components and equipment to end-users such as industrial, commercial, and residential is also considered while deriving the global electrical component and equipment market. 

Power Transmission Motion Control Market Value Chain Analysis

In this report, we provide extensive information on the value chain analysis for the market. Our data covers all key stages of a market flow and provides a complete understanding of all aspects of the market logistics value chain. This includes an end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies.

Which are the Key Regions for Power Transmission Motion Control Market?

35% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for power transmission motion control in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.

The US and Canada are the major contributors in terms of revenue to the growth of the market. The well-established power transmission motion control manufacturers have a strong market presence in this region. Also, the adoption of automation in North America is higher than in any other region, as there are many end-users, including automotive and aerospace and defense. In North America, consumers prefer personal cars for traveling due to well-laid roads. Also, people in North America spend more time in their cars compared to other regions. Government agencies, including the Environmental Protection Agency (EPA) in the US, are increasingly introducing limits on nitrogen oxide and carbon dioxide emissions, which has led many consumers to switch to EVs. The US is also one of the leading manufacturers of electric vehicles (EVs). The gaining popularity and the increasing production of EVs will drive the growth of the power transmission motion control market in North America during the forecast period. 

What are the Revenue-generating Component Segments in the Power Transmission Motion Control Market?

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The power transmission motion control market share growth by the solutions segment will be significant during the forecast period. Power transmission is the act of transmitting energy from its source to a position where it may be used to accomplish work. Motion control is a subset of automation that is surrounded by systems or subsystems that are involved in moving machine parts in a controlled manner. Belts, motors, bearings, drives, gears, couplings, clutches, brakes, linear motion, pneumatics, and hydraulics encircle it. The increased demand for energy-efficient solutions has fueled the demand for high-precision automated processes. Automated processes help organizations increase productivity and lower product life cycle costs. Thus, automation is expected to grow, which will increase the use of power transmission motion control solutions to minimize energy consumption and increase production.

The report provides a near-term to long-term perspective on the trends and forecasts horizon for the market. It offers an overview of the key market drivers and restraints, enabling precise identification of key opportunities in each region over the coming years.

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What are the Key Data Covered in this Power Transmission Motion Control Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive the growth during the next five years
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industry across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of power transmission motion control market vendors

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