SKF has a unique understanding of rotating equipment and how machine components and industrial processes are interrelated in every major industry worldwide. SKF is therefore particularly well positioned to offer a complete range of power transmission products and solutions in parallel with the already broad industrial product and service platforms. Important players in the global market are ABB (Sweden/ USA), Altra (USA), Regal Beloit (USA), Tsubaki (Japan), Renold (UK), Rexnord (USA), Donghua (China), Gates (USA), Carlisle (USA), Optibelt (Germany), and ContiTech (Germany).
The global industrial mechanical power transmission market includes basic power transmission open-drive products such as V and synchronous belt drives, chain drives and shaft couplings. SKF estimates the total size of the global power transmission market remained at around SEK 150–170 billion. This market encompasses the industries covered by SKF’s other markets.
Growth in the power transmission market over the last 10–15 years has been between 3 to 10% per year. In 2007, SKF began offering a new and comprehensive range of industrial power transmission products, which have seen continuous growth of around 20 to 30% year-on-year. The global power transmission market is quite fragmented with competitors generally being regional and/or industryspecific suppliers generally providing only partial product offerings. Many competitors offer belts or chains (usually not both), and ordinarily they offer limited or no ironware such as pulleys, sprockets, couplings, etc. Other competitors offer only the ironware without the corresponding belts or chains. Regionally speaking, the more mature markets like Europe and North America have strong competitors covering specific but limited product ranges, while the emerging markets are less well attended. As power transmission products greatly affect a customer’s up-time and total cost of equipment ownership, they demand better availability, technical support and know-how, enhanced performance, reduced energy consumption, easier installation, smoother operation, reduced noise levels, and ultimately increased reliability and service life.