Industrial Chain Drives Market| Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast, 202

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 a

Originally published on Technavio:Industrial Chain Drives Market Analysis Across APAC, North America, Europe, South America, Middle East, and Africa - US, Canada, China, India, Germany - Size and Forecast 2023-2027

Forecast for Industrial Chain Drives Market 2023-2027
The Industrial Roller Chain Drives Market is anticipated to expand by USD 824.75 million, with a Compound Annual Growth Rate (CAGR) of 3.59% projected between 2022 and 2027. Market growth is influenced by various factors, including increased end-user investments in APAC industrialization, the availability of cost-effective raw materials and abundant labor, and ample opportunities for drive adoption. Key components such as double-pitch roller chains and conveyor chains play vital roles across sectors like automotive, electric electronics, and precision machinery, ensuring smooth operations and efficient power transmission.
Industrial Chain Drives Market Size

In 2017, APAC dominated the market with a share of USD 2141.43 million, while the US emerged as the largest contributor with a market share of USD 708.24 million. The industrial sector segment recorded the highest contribution in market share, amounting to USD 3.24 billion, and continues to grow.

Market Segmentation
Significant growth in market share is expected in the industrial sector segment during the forecast period. This sector encompasses industrial chain drives used in various industrial machinery, including both mobile and non-mobile applications. Industries covered under this sector include oil and gas, chemical and petrochemical, food and beverage, metals and mining, paper and pulp, cement, and fertilizer.

Industrial Chain Drives Market Size

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The industrial sector segment has shown a gradual increase in market share from USD 3,242.65 million in 2017 and continues to grow through 2021. Industrial chains used in forklifts, excavators, and other bulk material handling operations also contribute to the global market growth in the industrial sector. The industrial sector in Asia and Latin America holds high growth potential due to the adoption of cutting-edge machinery in heavy-duty applications. The rise in trade through seaports has led to increased utilization of heavy-duty chains at port terminals, further driving demand for industrial chain drives.

Market Dynamics and Customer Landscape
The significant growth in end-user investments in APAC is a key driver of market growth, although challenges such as high lubrication costs may hinder growth. Our researchers analyzed data using 2022 as the base year, alongside key drivers, trends, and challenges, to help companies refine their marketing strategies for a competitive advantage.

Market Driver

The growth in end-user investments in APAC is a major factor driving market growth, driven by increased demand in various industries. The availability of low-cost raw materials, easy access to labor, favorable demographic conditions, high demand for products, and low manufacturing costs support the high growth potential of the market in Asia. Additionally, the advantage of low manufacturing costs in Asia has encouraged end-user companies from developed regions to invest in new projects, creating ample opportunities for drive adoption.

The growing number of projects in end-user industries encourages manufacturers in APAC to gain or maintain their competitive edge in the global market. Key developing economies in Asia, including China, India, Indonesia, Malaysia, and the Philippines, have witnessed increased demand and will play a crucial role due to the numerous projects anticipated during the forecast period.

Market Trend

The rise in mergers and acquisitions (M&A) will fuel global market growth. M&A activities and market alliances among vendors are expected to drive considerable market growth in the forecast period. Chain and sprocket manufacturers aim to expand their businesses in developing regions through increased investments in new ventures to maintain a competitive advantage. Strategic alliances and partnerships between international vendors and local counterparts are being established to explore domestic markets. Successful partnerships by key players in the global market are likely to increase during the forecast period, strengthening market growth. M&A activities will provide an effective platform for vendors to enhance their commercial positioning and boost sales, positively impacting global market growth.

Market Challenge

High lubrication costs and related services pose a significant challenge to global market growth. The use of lubricating materials offers both advantages and disadvantages to end-users, but the high cost associated with frequent monitoring of drives in 24/7 operations increases service costs. Lifetime lubrication is possible for chains with low loads and overall operation times. However, improper chain lubrication can increase friction and link wear, leading to higher energy consumption and potential breakdowns, resulting in production losses. Therefore, cost and physical challenges, particularly related to lubrication for chains, are high in offshore oil and gas and mining applications.

Frequent servicing at regular intervals reduces alignment issues. However, continuous lubrication of active chains increases operational costs, including oil or lubricant costs, monitoring, and repair services. Although advances in automated lubrication systems have reduced related manpower costs for end-users, the high cost of servicing or replacing damaged chains and the long maintenance hours following breakdowns increase costs and reduce profits for end-users.

Market Customer Landscape

The report covers the market adoption lifecycle, from the innovator's stage to the laggard's stage, focusing on adoption rates in different regions based on penetration. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to assist companies in evaluating and developing their growth strategies.

Global Market Customer Landscape
Companies are employing various strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to strengthen their market presence.

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Chiaravalli Group Spa - The company offers products used to transmit power between components at various distances. Primarily engaged in manufacturing and distributing 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 analyses of vendors have been conducted to help clients understand the broader business environment, as well as the strengths and weaknesses of key market players. Data analysis categorizes vendors based on various criteria, including pure play, category-focused, industry.

For more information please contact.

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]



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