NEW YORK, March 15, 2024 /PRNewswire/ — The industrial chain drives market is expected to grow by USD 824.75 million between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 3.59% during the forecast period. The increasing end-user investments in the APAC region serve as a pivotal catalyst propelling market growth. Elevated demand in APAC is fueled by increased investments across various end-user industries. Key drivers include cost-effective raw materials, abundant labor resources, favorable demographics, soaring product demand, and competitive manufacturing costs. This dynamic landscape presents lucrative opportunities for market expansion, particularly in Asia, enticing investments from developed regions. With a surge in projects across key economies like China, India, Indonesia, Malaysia, and the Philippines, manufacturers in APAC are poised to fortify their competitive stance on the global stage.
Technavio has announced its latest market research report titled Global Industrial Chain Drives Market
The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.59% |
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Market growth 2023-2027 |
USD 824.75 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.27 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 64% |
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Key countries |
US, Canada, China, India, and Germany |
Key Highlights:
The report recognizes the following as some of the key players in the industrial chain drives market: AB SKF, Chiaravalli Group Spa, Cross Morse, Daido Steel Co. Ltd., Ditton pievadkezu rupnica, Dunbelt Bearings and Transmissions SA., Industrias YUK S.A., KettenWulf Betriebs GmbH, LEWCO Inc., Martin Sprocket and Gear Inc., Ramsey Products Corp., Regal Rexnord Corp., Renold Plc, Rubix Group Holdings Ltd., The Timken Co., Tsubakimoto Chain Co., Tube Investments of India Ltd., Webster Industries Inc., and Wippermann junior GmbH
Industrial Chain Drives Market is fragmented in nature.
Market to observe 3.27% YOY growth in 2023.
The rise in M&A is a primary trend in the market. The high costs with regard to lubrication and related services are a major challenge hindering the global industrial roller chain drives market growth.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Key Segments:
The market is segmented by end-user (industrial sector and agricultural sector) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The market growth by the industrial sector segment is significant during the forecast period. The industrial sector encompasses industrial chain drives utilized in various industrial machinery, spanning both mobile and non-mobile applications. Industries within this sector include oil and gas, chemical and petrochemicals, food and beverage, metals and mining, paper and pulp, cement, and fertilizer. The industrial roller chain drives used in equipment such as forklifts and excavators contribute significantly to the global market’s growth.
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Analyst Review
The industrial chain drives market is propelled by a complex interplay of factors ranging from technological advancements to macroeconomic trends. Roller chains, serving as the backbone of this market, facilitate power transmission across various sectors, including automation equipment, mining, and agricultural machinery. The market’s dynamics are influenced by primary and secondary information, with key participants such as Regal Beloit, The Timken Company, and Brammer leading the charge.
Regal Beloit, The Timken Company, Brammer, and others dominate the global roller chain drive market. Their expertise in manufacturing conveyor chains, double pitch roller chains, and other types has positioned them as key stakeholders in various industries.
The market’s landscape spans regions such as Asia Pacific, North America, Europe, Middle East & Africa, and Latin America. Each region presents unique opportunities and challenges, with Asia Pacific emerging as a hub for industrial manufacturing and material handling applications.
Challenges such as corrosion, wear, and fatigue necessitate robust solutions, including innovative lubrication types like external lubricating and self-lubricating mechanisms. The market also faces constraints from regulatory standards like ANSI B29, ISO 1275-A, and JIS B 1803, particularly in the auto parts, electric, electronic, and precision machinery industry.
To navigate these challenges, industry players are adopting growth strategies focusing on product innovation, regional expansion, and strategic partnerships. Trends such as Industry 4.0 integration and advancements in roller and sprocket technology are reshaping the market landscape.
Competitive analysis based on factors like price, financial position, product portfolio, and regional presence helps decision-makers formulate informed strategies. Stakeholders, including engineers and motion system experts, play a crucial role in shaping the market through their insights and requirements.
As the industrial chain drives market continues to evolve, stakeholders must remain vigilant of microeconomic factors, external influences, and internal dynamics. A comprehensive understanding of market trends, challenges, and opportunities is essential for sustaining growth and meeting the diverse needs of end-users across industries. With robust products, innovative solutions, and strategic partnerships, the industry is poised to overcome challenges and drive towards a sustainable future.
Market Overview
The Industrial Chain Drives Market encompasses a diverse range of applications, including roller chains, which are essential components in various industries. These chains, driven by motors, efficiently transmit power to move loads across different machinery. However, challenges such as corrosion, wear, and fatigue can compromise their performance and longevity. To address these issues, manufacturers continually innovate materials and designs to enhance durability and reliability. The global roller chain drive market reflects this dynamic landscape, with steady growth driven by demand across sectors. As industries prioritize efficiency and productivity, the market responds with advanced solutions to combat corrosion, mitigate wear, and resist fatigue, ensuring robust performance in industrial settings.
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ToC:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
