Industrial and Automotive Power Transmission Products Market Analysis

The industrial and automotive power transmission products market is segmented by application into industrial and automotive, and by end-user, the market is segmented into OEM and aftermarket. Under application type, the industrial segment accounted for highest share by 2028, and is further estimated to hold this position and attain 61.49% of the market share in 2036.  The industrial segment attained revenue of USD 120,098.8 Million in 2021 and is estimated to garner USD 215,212.4 Million in 2028. Starting from conveyor belts to transportation vehicle cargo, the majority of the industrial processes run on power transmission products. Over the years, with the development in technologies, engineers have modified existing types of machinery with better components such as gear drives, valves, belts, couplings, and others power industrial power transmission. As a result, it is expected to witness significant growth over the forecast period.

Among the end-users, the OEM segment is estimated to garner highest industrial and automotive power transmission products market revenue by the end of 2028 owing to the fact that products delivered by OEM segment are superior and limited at competitive pricing according to consumer preference. The OEM segment attained revenue of USD 150,877.4 Million in 2021 and is estimated to garner USD 263,160.1 Million in 2028. Furthermore, different regions have different level of penetration of market segments. For instance, in North America, the market size for industrial segment and OEM segment were USD 27,953.7 Million and USD 34858.4 Million in 2021, respectively. Additionally, in APAC, the industrial and automotive power transmission products market size for industrial segment and OEM segment were USD 43,767.4 Million and USD 53,986.7 Million in 2021, respectively.

Our in-depth analysis of the global market includes the following segments: