NEW YORK, Jan. 19, 2022 /PRNewswire/ — The Power Transmission Motion Control Market is set to grow by USD 284.40 billion between 2021 and 2026. However, the growth momentum is likely to decelerate at a CAGR of 17.41% as per the latest report by Technavio. The market is segmented by component (solutions and services) and geography (North America, Europe, APAC, MEA, and South America). The report provides detailed insights into how vendors are performing in terms of revenue generation, market position, product launches, and customer base among others.
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Key takeaways from Power Transmission Motion Control Market study
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Power Transmission Motion Control Market size to increase by USD 284.40 billion between 2021 and 2026
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Decelerating CAGR of 17.41%
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19.97% year-over-year growth expected in 2022
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35% market growth to originate in North America during the forecast period
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Dominant vendors include Altra Industrial Motion Corp., Cangro Industries Inc., C-Flex Bearing Co. Inc., Custom Machine and Tool Co. Inc..and others
Power Transmission Motion Control Market: Revenue Generating Segment
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.
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Power Transmission Motion Control Market: Growth Drivers and Restraints
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.
Maintenance and repair grow more expensive and, in some cases, impossible…
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