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The Industrial Roller Chain Drives Market is estimated to grow by USD 824.75 million at a CAGR of 3.59% between 2022 and 2027. The growth of the market depends on several factors, including growing end-user investments in APAC industrialization, the availability of low-cost raw materials and easy access to labor, and ample opportunities for the adoption drives the growth. The market offers essential components like double-pitch roller chain and conveyor chains. These chains are integral to various sectors, including the auto parts electric electronic and precision machinery industry, where they ensure smooth operation and efficient power transmission.
Engineers and investors alike recognize the importance of these components, often consulting an Investor's guide to understand market dynamics and investment opportunities. Key features like pin link plate and roller link plate contribute to the chains' reliability and durability, ensuring high fatigue strength and tensile strength even under demanding conditions. From automotive assembly lines to industrial conveyors, these chains are essential for the seamless movement of materials and products. Furthermore, the report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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In 2017, in terms of market size, APAC dominated the market with a share of USD 2141.43 million. Additionally, the US was the largest contributor of market share USD 708.24 million. The market segment industrial sector recorded the largest contribution in market share of USD 3.24 billion and continued to grow.
The market share growth by the industrial sector segment will be significant during the forecast period. The sector comprises the industrial chain drives that are used in industrial machinery. These include those used in both mobile and non-mobile applications; the industries covered under the sector are oil and gas, chemical and petrochemical, food and beverage, metals and mining, paper and pulp, cement, and fertilizer.
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The industrial sector segment showed a gradual increase in market share from USD 3,242.65 million in 2017 and continued to grow by 2021. The industrial chains that are used in forklifts, excavators, and other bulk material handling operations also contribute to the growth of the global market in the industrial sector. The industrial sector in Asia and Latin America has high growth potential due to the adoption of the latest machinery in heavy-duty applications. The growth in trade through seaports is increasing year after year, and it has increased the use of heavy-duty chains at port terminals, which, in turn, will add to the demand for industrial chain drives.
Growing end-user investments in APAC are notably driving the market growth, although factors such as the high costs with regard to lubrication and related services may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Market Driver
Growing end-user investments in APAC is a key factor driving the market growth along with the demand for in APAC has increased due to the growing investments in end-user industries. The availability of low-cost raw materials, the easy availability of labour resources, advantageous demographic conditions, high demand for these products, and low manufacturing costs are the factors that support the high growth potential of the market in Asia. Apart from that, the advantage of low manufacturing costs in Asia has encouraged end-user companies from developed regions to invest in new projects, which will provide ample opportunities for the adoption of these drives.
The growing number of projects in end-user industries helps drive manufacturers in APAC to gain or retain their competitive edge in the global market. Key developing economies in Asia, such as China, India, Indonesia, Malaysia, and the Philippines, have witnessed an increase in demand. These countries will play a key role due to the huge number of projects during the forecast period.
Market Trend
The rise in M&A will fuel the global market growth. M&A and market alliances between vendors will provide considerable market growth during the forecast period. These chain and sprocket manufacturers are trying to expand their businesses in developing regions through more investments in new ventures to sustain a competitive advantage over other key chain manufacturers. The aim is to enhance revenue growth and provide advanced drives in the global market.
Some international vendors are establishing strategic alliances and partnerships with local vendors to explore domestic markets. Such successful partnerships by key players in the global market are likely to increase during the forecast period and strengthen market growth. M&As will provide an effective platform for the commercial positioning of the vendor and enhance its sales. These factors will positively impact the growth of the global market during the forecast period.
Market Challenge
The high costs of lubrication and related services are a major challenge to global market growth. The use of lubricating material is both advantageous and disadvantageous for end-users, but the high cost involved in the frequent monitoring of these drives in 24/7 operations increases the service cost. Lifetime lubrication is possible for chains where the load, as well as the overall operation time, is low. In addition, improper chain lubrication will lead to an increase in friction and link wear, which, in turn, not only increases energy consumption but could also lead to breakdowns, thus resulting in production losses. Thus, cost and physical challenges, especially those related to lubrication for chains, are high in offshore oil and gas and mining applications.
The need for servicing these at frequent intervals reduces alignment issues. However, continuous lubrication of active chains increases operational costs, especially where the costs also include oil or lubricant and other related monitoring and repair services. Advances in automated lubrication systems have benefitted end-users by lowering the related manpower costs. But the high cost of servicing or replacing damaged chains and the long maintenance hours following a breakdown increase costs and reduce profits for the end user.
Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Chiaravalli Group Spa - The company offers which are used to transmit power between two components that are at a greater distance but may also be used for short distances. Also, the company is primarily engaged in the manufacturing and distribution of industrial machinery and equipment.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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APAC is projected to contribute 64% by 2023. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Industries in APAC are the leading end-users of these drives. APAC is currently undergoing rapid economic growth. Developing countries such as India and China are the key countries for the growth of the global market in APAC. Initiatives like 'Make in India' and 'Make in China,' which aim at strengthening the respective countries' domestic manufacturing industries will support the growth of the market in APAC. SMEs in Asian countries will play a vital role in increasing domestic demand, along with the growth in cost-effective industrial chain drive products.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027. The market has been segmented by type, product, distribution channel, and region.
The Market encompasses roller chains and their applications in various industries. Factors such as corrosion and fatigue impact the performance of these chains. The market is driven by the demand for automation equipment and power transmission solutions, especially in the mining and agricultural machinery sectors.
Key participants in the market include Regal Beloit, The Timken Company, Brammer, John Kings Chains, Diamond Chain Company, Inc, Kraftmek, Ramsey Products Corporation, and Rambo Chain. These companies cater to end users in material handling applications, motion systems, and other engineering fields.
The market is segmented based on lubrication type (external lubricating and self-lubricating) and standards like ANSI B29, ISO 1275-A, and JIS B 1803. Regions such as Asia Pacific, Middle East & Africa, and industrial manufacturing hubs like construction and transportation & logistics are major stakeholders in this market. Decision-makers rely on Porter analysis, PESTEL analysis, and micro-economic factors for competitive analysis and strategic decisions.
Industrial Chain Drives Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.59% |
Market growth 2023-2027 |
USD 824.75 million |
Market structure |
Fragmented |
YoY growth (%) |
3.27 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 64% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
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 |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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