by Corinne Gangloff
February 25, 2022
Cleveland, OH, February 25, 2022 — US demand for power transmission components is forecast to advance 3.8% yearly in nominal terms through 2026, according to Power Transmission Components: United States, a report recently released by Freedonia Focus Reports. Suppliers will benefit from increases in domestic output of durable products such as machinery and motor vehicles that incorporate power transmission components. Durable goods shipments are expected to grow 3.3% per year through 2026. . In addition, ongoing technological developments will boost replacement demand for more efficient and higher-priced power transmission components. However, rising imports of machinery and other equipment are expected to continue to restrain demand growth for power transmission components in products manufactured in the US. Additionally, the increasing penetration of battery-electric vehicles into the motor vehicle market will hamper demand for power transmission components in that market, as fully electric vehicles have much simpler transmissions.
Demand is expected to grow of 2.0% in 2022 as the economy continues its recovery from the effects of the COVID-19 pandemic. Those increases will be supported by 9.0% growth in motor vehicle production and 3.1% growth in machinery shipments.
These and other key insights are featured in Power Transmission Components: United States. This report forecasts to 2022 and 2026 US demand and shipments of power transmission components in nominal US dollars at the manufacturer level. Total demand and shipments are segmented by product in terms of:
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2011 to 2021.
Excluded from the scope of this report are motor vehicle engine bearings and electric motor components, as well as flexure, fluid, and magnetic bearing products. Also excluded are related bearing hardware such as adaptor and withdrawal sleeves, locknuts and washers, lubricators, and retaining plates. In addition, certain types of power transmission components (e.g., ball, swivel, and universal joints) for use in aerospace equipment are excluded from the scope of this report, although bearings for aerospace equipment are included in the bearings segment. Re-exports of power transmission components are excluded from demand and trade figures.
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