US demand for industrial power transmission equipment will grow 6.1 percent annually through 2008. Clutches and brakes, along with pulleys and sheaves, will lead gains. Rapid growth in construction and metalworking machinery will help make the industrial machinery segment the fastest growing major market.

This study analyzes the $2.8 billion US industrial power transmission component industry. It presents historical demand data for 1993, 1998 and 2003 and forecasts to 2008 and 2013 by product (e.g., sprockets and chains, clutches and brakes, couplings and universal joints, pulleys and sheaves); and by market (e.g., industrial machinery, nonautomotive transportation equipment).

The study also examines the market environment, reviews industry structure and market share, and profiles 34 competing producers including RBS Global, Rockwell Automation, Colfax, and Emerson Electric.

                           TABLE OF CONTENTS
                                    
  
  SECTION                                                          PAGE
  
         INTRODUCTION                                              viii
  
   I.    EXECUTIVE SUMMARY                                            1
  
  II.    MARKET ENVIRONMENT                                           4
         General                                                      4
         Economic Environment                                         6
           Cyclical Trends                                            6
           Long Term Trends                                           9
         Nonresidential Fixed Investment Outlook                     11
         Industrial Output Trends                                    13
         Market Volatility                                           16
         Pricing                                                     19
         Technology                                                  21
         Competitive Products                                        25
         World Outlook                                               27
         Trends in US Foreign Trade                                  29
           Imports                                                   31
           Exports                                                   33
  
 III.    PRODUCTS                                                    35
         General                                                     35
         Sprockets & Chains                                          39
           Drive Chains                                              43
           Sprockets                                                 46
         Clutches & Brakes                                           48
           Braking or Engaging Modality                              49
              Friction                                               50
              Electromechanical                                      52
           Actuation Modality                                        53
              Electromechanical                                      54
              Hydraulic & Pneumatic                                  56
              Self-Actuated                                          57
         Couplings & Universal Joints                                58
           Couplings                                                 60
              Flexible Couplings                                     62
              Rigid & Fluid Couplings                                64
           Universal Joints                                          64
         Pulleys & Sheaves                                           66
         Other Power Transmission Components                         68
  
  IV.    MARKETS                                                     70
         General                                                     70
         Industrial Machinery                                        73
           Sector Overview                                           74
           Industrial Power Transmission Components Demand           77
              Special Industrial Machinery                           79
              General Industrial Machinery                           87
              Farm & Garden Machinery                                90
              Construction Machinery                                 91
              Material Handling Equipment                            93
              Metalworking Machinery                                 94
              Oilfield & Mining Machinery                            96
              Other Industrial Machinery                             98
         Nonautomotive Transportation Equipment                      99
           Sector Overview                                          100
           Industrial Power Transmission Components Demand          103
              Aerospace & Defense                                   106
              Ship & Boat Building                                  109
              Railroad Equipment                                    111
              Other Nonautomotive Transportation Equipment          112
         Other Original Equipment Markets                           114
         Maintenance, Repair & Operations                           115
         Regional Markets                                           118
  
   V.    INDUSTRY STRUCTURE                                         121
         General                                                    121
         Industry Composition & Market Share                        122
         Leading Industrial Power Transmission Components
           Producers                                                124
         Mergers, Acquisitions & Industry Restructuring             128
         Product Development & Manufacturing                        129
         Marketing & Distribution                                   132
         Financial Issues                                           134
         Cooperative Agreements                                     136
         Company Profiles                                           137
           Airflex, see Eaton Corporation                              
           Ameridrives Couplings, see Colfax Corporation               
           AMSTED Industries Incorporated                           138
           ArvinMeritor Incorporated                                139
           Berg (WM) Incorporated, see RBS Global Incorporated         
           Boston Gear, see Colfax Corporation                         
           Browning, see Emerson Electric Company                      
           Carlisle Companies Incorporated                          141
           Colfax Corporation                                       142
           Crane (John) Americas, see Smiths Group plc                 
           Danaher Corporation                                      145
           Deltran PT, see Danaher Corporation                         
           Demag Cranes & Components Corporation, see Demag
              Holding
           Demag Holding SARL                                       147
           Diamond Chain Company, see AMSTED Industries                
           Dings Company, see Venturedyne Limited                      
           Dodge, see Rockwell Automation Incorporated                 
           Drives Incorporated                                      148
           Eaton Corporation                                        149
           Electroid Company, see Valcor Engineering Corporation       
           Emerson Electric Company                                 151
           Falk Corporation, see United Technologies Corporation       
           Formsprag Clutch, see Colfax Corporation                    
           Gates Corporation, see Tomkins plc                          
           General Electric Company                                 154
           Haldex AB                                                155
           Hilliard Corporation                                     156
           Illinois Tool Works Incorporated                         158
           Ingersoll-Rand Company Limited                           159
           ITW Spiroid, see Illinois Tool Works Incorporated           
           Jeffrey Chain Corporation, see Renold plc                   
           Kop-Flex Incorporated, see Emerson Electric Company         
           Magnetek Incorporated                                    160
           Marland Clutch, see Colfax Corporation                      
           Martin Sprocket & Gear Incorporated                      161
           Mondel Engineering ULC, see Magnetek Incorporated           
           Morse Industrial, see Emerson Electric Company              
           Nexen Group Incorporated                                 163
           Ogura Clutch Company Limited                             164
           Philadelphia Gear Corporation                            165
           RBS Global Incorporated                                  166
           Renold plc                                               168
           Reuland Electric Company                                 170
           Rexnord Corporation, see RBS Global Incorporated            
           Rockford Powertrain Incorporated                         171
           Rockwell Automation Incorporated                         172
           Siemens AG                                               174
           Smiths Group plc                                         175
           Stearns, see RBS Global Incorporated                        
           Timken Company                                           176
           Tomkins plc                                              178
           Torrington Company, see Timken Company                      
           Tsubakimoto Chain Company                                180
           Twin Disc Incorporated                                   182
           United Technologies Corporation                          183
           US Tsubaki Incorporated, see Tsubakimoto Chain Company
           Valcor Engineering Corporation                           185
           Venturedyne Limited                                      186
           Warner Electric Industrial Products, see Colfax
           Wichita Clutch, see Colfax
           Wood's (TB) Corporation                                  187
         Other Companies Mentioned in Study                         188
  
    

                            LIST OF TABLES
                                   
    TABLE NUMBER                                                   PAGE
  
         SECTION I -- EXECUTIVE SUMMARY
         Summary Table                                                3
  
         SECTION II -- MARKET ENVIRONMENT
    1    Economic Environment                                         9
    2    Nonresidential Fixed Investment                             13
    3    Manufacturers  Shipments                                    16
    4    Industrial Power Transmission Components Market Volatility  18
    5    Industrial Power Transmission Components Pricing            20
    6    World Industrial Power Transmission Component Demand        29
    7    Trends in US Foreign Trade                                  31
  
         SECTION III -- PRODUCTS
    1    Industrial Power Transmission Components Shipments & Sales  38
    2    Sprockets & Chains Demand                                   43
    3    Clutches & Brakes Demand                                    49
    4    Clutches & Brakes Demand by Braking Modality                50
    5    Clutches & Brakes Demand by Actuation Modality              54
    6    Couplings & Universal Joints Demand                         60
    7    Couplings Demand                                            62
    8    Universal Joints Demand                                     66
    9    Pulleys & Sheaves Demand                                    68
   10    Other Selected Power Transmission Components Demand         69
  
         SECTION IV -- MARKETS
    1    Industrial Power Transmission Components Demand by Market   72
    2    Industrial Machinery Shipments by Type                      76
    3    Industrial Machinery Markets for Industrial Power
           Transmission Components                                   78
    4    Special Industrial Machinery Markets for Industrial Power
           Transmission Components                                   80
    5    Pulp & Papermaking Machinery Market for Industrial Power
           Transmission Components                                   82
    6    Printing Trades Machinery Market for Industrial Power 
           Transmission Components                                   83
    7    Food & Beverage Machinery Market for Industrial Power 
           Transmission Components                                   85
    8    Other Special Industrial Markets for Industrial Power
           Transmission Components                                   86
    9    General Industrial Machinery Market for Industrial Power
           Transmission Components                                   88
   10    Farm & Garden Machinery Market for Industrial Power 
           Transmission Components                                   91
   11    Construction Machinery Market for Industrial Power
           Transmission Components                                   92
   12    Material Handling Equipment Market for Industrial Power
           Transmission Components                                   94
   13    Metalworking Machinery Market for Industrial Power
           Transmission Components                                   96
   14    Oilfield & Mining Machinery Market for Industrial Power
           Transmission Components                                   98
   15    Other Industrial Machinery Markets for Industrial Power 
           Transmission Components                                   99
   16    Nonautomotive Transportation Equipment Shipments by Type   103
   17    Nonautomotive Transportation Equipment Markets for
           Industrial Power Transmission Components                 105
   18    Aerospace & Defense Equipment Market for Industrial Power 
           Transmission Components                                  107
   19    Ship & Boat Building Market for Industrial Power
           Transmission Components                                  111
   20    Railroad Equipment Market for Industrial Power Transmission
           Components                                               112
   21    Other Nonautomotive Transportation Equipment Market for 
           Industrial Power Transmission Components                 113
   22    Other Original Equipment Markets for Industrial Power 
           Transmission Components                                  115
   23    MRO Markets for Industrial Power Transmission Components   117
  
         SECTION V -- INDUSTRY STRUCTURE
    1    Revenue Data:  Selected Industrial Power Transmission
           Component Manufacturers, 2003                            123
    2    Selected Acquisitions & Divestitures                       129
    3    Capital Spending Patterns:  Selected Power Transmission
           Components Manufacturers                                 132
    4    Selected Cooperative Agreements                            137
  
    

                            LIST OF CHARTS
                                   
    CHART NUMBER                                                   PAGE
  
         SECTION II -- MARKET ENVIRONMENT
    1    Industrial Power Transmission Components Market Volatility  18
    2    Industrial Power Transmission Components Pricing Deflators  21
    3    US Imports by Region, 2003                                  33
    4    US Exports by Region, 2003                                  34
  
         SECTION III -- PRODUCTS
    1    Industrial Power Transmission Components Demand by Type     39
  
         SECTION IV -- MARKETS
    1    Industrial Power Transmission Components Demand by Market   73
    2    Industrial Machinery Markets for Industrial Power
           Transmission Components, 2003                             79
    3    Nonautomotive Transportation Equipment Markets for
           Industrial Power Transmission Components, 2003           106
    4    MRO Markets for Industrial Power Transmission
           Components, 2003                                         118
  
         SECTION V -- INDUSTRY STRUCTURE
    1    Industrial Power Transmission Component Market Share, 2003 125