Industrial Chain Drives Market Size to Grow by USD 824.75 Million From 2022 to 2027, Assessment on Parent Market, Five Forces Analysis, Market Dynamics & Segmentation

May 12, 2023

NEW YORK, Nov. 15, 2022 /PRNewswire/ -- The Global Industrial Chain Drives Market share is set to increase by USD 824.75 million from 2022 to 2027. Moreover, the market's growth momentum will accelerate at a CAGR of 3.59% as per the latest market forecast report by Technavio. The market will also record a 3.27% Y-O-Y growth rate during the forecast period. To know more about the historic market size– Request a Free Sample Report!

Global Industrial Chain Drives Market - Parent Market Analysis

Technavio categorizes the global industrial chain drives market as a part of the global industrial machinery market. The parent market, the global industrial machinery market, covers companies engaged in manufacturing industrial machinery and components, including presses, compressors, machine tools, elevators, escalators, insulators, pollution control equipment, roller bearings, pumps, and other metal fabrications. This market is expected to grow at a moderate pace. Technavio calculates the global industrial machinery market size based on combined revenue generated by manufacturers of machinery and components used in the industrial environment.

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Global Industrial Chain Drives Market Characteristics with Five Forces–

The Global Industrial Chain Drives Market is fragmented, and the five forces analysis by Technavio gives the accurate vision –

Bargaining Power of Buyers

The threat of New Entrants

Threat of Rivalry

Bargaining Power of Suppliers

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Global Industrial Chain Drives Market – Customer Landscape

The disruption threats are strategic in nature, and operational risks for suppliers have been mapped based on their negative business impact and probability of occurrence.

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Global Industrial Chain Drives Market - Segmentation Assessment

Geography Segment Overview

Technavio's market research report entails detailed information on regional opportunities in store for vendors, which will assist in generating sales revenues. The Global Industrial Chain Drives Market as per geography is categorized into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides an accurate prediction of the contribution of all regions to the growth of the Global Industrial Chain Drives Market size and actionable market understandings.

Regional Highlights

APAC is the fastest-growing region in the global industrial chain drives market compared to other regions. 64% growth will originate from this region. APAC is experiencing rapid economic growth. India and China are the key countries for the growth of the industrial chain drives market in APAC. SMEs in Asian countries will play a vital role in increasing the demand for industrial chain drives, along with the growth of cost-effective industrial chain drive products.

Type Segment Overview

The Global Industrial Chain Drives Market as per end-user segmentation is categorized into Industrial Sector and Agricultural Sector.

Revenue Generating Segment - The industrial chain drives market share growth by the industrial sector segment will be significant during the forecast period. The industrial sector covers industrial chain drives that are used in industrial machinery. These include those that are used in mobile and non-mobile applications. The industries covered under the industrial sector are chemical and petrochemical, oil and gas, metals and mining, food and beverage, cement, paper and pulp, and fertilizer.

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Global Industrial Chain Drives Market – Market Dynamics

Major Driver Boosting the Market

Growing end-user investments in APAC are driving the global industrial chain drives market growth.

The availability of low-cost raw materials, demographic conditions, the easy availability of labor resources, high demand for industrial products, and low manufacturing costs are driving market growth in Asia. Moreover, low manufacturing costs in Asia have encouraged end-users from developed regions to invest in new projects. The growing number of projects in end-user industries helps manufacturers in APAC gain a competitive edge.

Major trends influencing the growth of the market

The rise in M&A is a key trend in the global industrial chain drives market.

Industrial chain and sprocket manufacturers are expanding their businesses in developing countries through investments in new ventures to enhance revenue growth and provide advanced chain drives.

Some international vendors are entering into strategic alliances and partnerships with local vendors. Such partnerships are expected to increase during the forecast period and strengthen market growth.

Major Challenges interrupting the market growth

The high costs related to lubrication and related services are challenging the global industrial chain drives market growth.

In addition, improper chain lubrication can lead to an increase in friction and link wear, which, increases energy consumption and leads 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 high cost of servicing or replacing damaged chains and the long maintenance hours increase costs and reduce the profits of end-users.

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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19-impacted market research reports.

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Industrial Chain Drives Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist industrial chain drives market growth during the next five years

Estimation of the industrial chain drives market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the industrial chain drives market

Analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of the industrial chain drives market vendors

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Industrial Chain Drives Market Scope

Report Coverage

Details

Page number

120

Base year

2022

Historical year

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 the Middle East and Africa

Performing market contribution

APAC at 64%

Key consumer countries

US, Canada, China, India, and Germany

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

AB SKF, Chiaravalli Group Spa, Cross Morse, Daido Steel Co. Ltd., Ditton pievadkezu rupnica AS, Dunbelt Bearings and Transmissions SA., Industrias YUK S.A., KettenWulf Betriebs GmbH, LEWCO Inc., Martin Sprocket & 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 growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our 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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Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global industrial chain drives market 2017 - 2021

4.2 End-user Segment Analysis 2017 - 2021

4.3 Product type Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by End-user

6.1 Market segments

6.2 Comparison by End-user

6.3 Industrial sector - Market size and forecast 2022-2027

6.4 Agricultural sector - Market size and forecast 2022-2027

6.5 Market opportunity by End-user

7 Market Segmentation by Product Type

7.1 Market segments

7.2 Comparison by Product Type

7.3 Roller chains - Market size and forecast 2022-2027

7.4 Silent chains - Market size and forecast 2022-2027

7.5 Leaf chains - Market size and forecast 2022-2027

7.6 Others - Market size and forecast 2022-2027

7.7 Market opportunity by Product Type

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 India - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 Canada - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 AB SKF

12.4 Chiaravalli Group Spa

12.5 Cross Morse

12.6 Daido Steel Co. Ltd.

12.7 Ditton pievadkezu rupnica

12.8 Dunbelt Bearings and Transmissions SA.

12.9 Industrias YUK S.A.

12.10 Regal Rexnord Corp.

12.11 Renold Plc

12.12 Rubix Group Holdings Ltd.

12.13 The Timken Co.

12.14 Tsubakimoto Chain Co.

12.15 Tube Investments of India Ltd.

12.16 Webster Industries Inc.

12.17 Wippermann junior GmbH

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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