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Machine element

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A machine element is an elementary component from which a machine is built, and the term is also used for the hardware of a machine in general. Engineers group these parts into three basic kinds: structural components such as frame members, bearings, axles, splines, fasteners, seals and lubricants; mechanisms that control movement, including gear trains, belt and chain drives, linkages, cams and followers, brakes and clutches; and control components such as switches, sensors, actuators and computer controllers. Most elements are standardized to common sizes, though custom versions are common for specialized uses. An element may be a feature of a larger part, like a screw thread, or a discrete part such as a wheel, pulley or gear. Designing machines largely means choosing and combining these elements.

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Source Machine element (Wikipedia)
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Machine element or hardware refers to an elementary component of a machine.
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