35% of Growth to Originate from North America for Power Transmission Motion Control Market | Evolving Opportunities with Altra Industrial Motion Corp. & Cangro Industries Inc. | 17000+ Technavio Reports

NEW YORK, Dec. 29, 2021 /PRNewswire/ -- 35% of the growth will originate from North America for the power transmission motion control market. 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 gaining popularity and the increasing production of EVs will facilitate the power transmission motion control market growth in North America over the forecast period. The power transmission motion control market size is expected to increase by USD 284.40 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 17.41%, according to the latest research report from Technavio.

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The power transmission motion control market covers the following areas:

• Power Transmission Motion Control Market Sizing
• Power Transmission Motion Control Market Forecast
• Power Transmission Motion Control Market Analysis

Power transmission motion control market - Driver & Challenge

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. 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.

However, maintenance and repair costs for machines are more expensive which may hurdle the growth. 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. 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. 

Power transmission motion control market - Segmentation & Revenue generating segment

The Power Transmission Motion Control Market is segmented by Component (solutions and services) and Geography (North America, Europe, APAC, MEA, and South America).

The power transmission motion control market share growth by the solutions segment will be significant for revenue generation. 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.

Companies Mentioned
The power transmission motion control market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

• 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.

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About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

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