Industrial Chain Drives Market to Grow by USD 831 Million from 2024-2028 with APAC End-User Investments Boosting Growth, AI Impact Report- Technavio

NEW YORK, Sept. 3, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global industrial chain drives market size is estimated to grow by USD 831 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 3.51% during the forecast period. Growing end-user investments in APAC is driving market growth, with a trend towards rise in M and A. However, high costs with regard to lubrication and related services  poses a challenge. Key market players include 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.

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Market Driver

The industrial chain drives market is expected to experience significant growth during the forecast period, driven by mergers and acquisitions (M&A) and strategic alliances between key players. To expand their businesses in developing regions, chain and sprocket manufacturers are making increased investments. This strategy aims to enhance revenue growth and provide advanced chain drives to maintain a competitive edge. Notable M&A activities include John King Chains' acquisition of Precision Chains, enabling heavy series chain production. Rexnord Corp's legacy process and motion control manufacturing business being spun off to Regal Beloit Corp is another example. These strategic moves will strengthen market growth by providing an effective commercial platform and boosting sales for the vendors. 

The Industrial Chain Drives Market is experiencing significant trends in various sectors. Flat-top chains are gaining popularity due to their versatility in assembly lines and robotics. Steel plates ensure durability and efficiency in power transmission for machines and processes. The automotive industry is heavily investing in robotics and B2B trade for semiconductor shortages. Big data and cloud computing are driving digitization, with cybersecurity a top concern. The economy's composition is shifting towards higher levels of automation. Exponential smoothing helps forecast demand for chain drives. Mechanical systems use flexible looped chains and sprockets for rotational motion. Roller chains, drive chains, and transmission chains are essential for bicycles, motorcycles, and conveyor systems. Efficiency and loads are crucial factors in selecting the right chain drive. The semiconductor shortage impacts the automotive industry, leading to increased demand for robotics. The B2C market also benefits from these trends. Overall, the Industrial Chain Drives Market is evolving, focusing on efficiency, durability, and digitization. 

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Market Challenges

• Industrial chain drives are essential components in various industries for power transmission. However, they come with hidden costs, primarily related to lubrication and frequent maintenance. Traditional industrial chain drives require continuous lubrication to reduce energy losses from friction and extend their service life. The manual process of lubrication adds to labor costs, and the frequent monitoring required increases operational expenses. In high-load applications, such as offshore and mining, the challenges of lubrication are even more significant. Advances in technology have introduced lube-free industrial chain drives, which eliminate the need for lubrication and reduce operational costs. However, the initial investment for these advanced chains can be high. Improper lubrication can lead to increased friction, link wear, energy consumption, and potential breakdowns, resulting in unplanned production costs and decreased profits. Automated lubrication systems have been a significant benefit for end-users by reducing manpower costs. However, the costs of servicing or replacing damaged chains and the accompanying maintenance hours during breakdowns remain high. These factors may negatively impact the industrial chain drives market during the forecast period. In conclusion, while industrial chain drives are crucial for industrial processes, the associated costs, particularly those related to lubrication and maintenance, must be carefully considered.
• The Industrial Chain Drives market encompasses various types of chains used for power transmission in mechanical systems. These include roller chains, drive chains, transmission chains, and sprocket gears. Challenges in this market include efficiency and durability under heavy loads. Flexible looped chains, such as bicycle and motorcycle chains, require low friction and high temperature resistance. Conveyor systems demand chains with chemical resistance and anti-static properties. Vehicles use roller chains for conveyor chain drives, while hoisting chains require silent operation and inverted tooth chains offer magnetic attributes. Materials like plain carbon steel and steel alloys are used, with components such as bushes, pins, and links varying from oval link chains to coil chains and stud link chains. Applications range from textiles to lifts, lift trucks, and forklifts.

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Segment Overview

This industrial chain drives market report extensively covers market segmentation by  

1. End-user
• 1.1 Industrial sector
• 1.2 Agricultural sector
2. Product Type
• 2.1 Roller chains
• 2.2 Silent chains
• 2.3 Leaf chains
• 2.4 Others
3. Geography
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Industrial sector- The Industrial Chain Drives market refers to the production and sale of mechanical components used to transmit power and motion between linked machinery. These drives include sprockets, chains, and related accessories. Companies in this sector cater to various industries such as manufacturing, mining, and construction. Market growth is driven by increasing automation and demand for efficient production processes. Key players include Bosch Rexroth, Schaeffler, and Dana Incorporated.

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Research Analysis

The Industrial Chain Drives market encompasses power transmission solutions that facilitate rotational motion in mechanical systems. These drives include flexible looped chains, which are essential in various applications such as bicycles, motorcycles, and conveyor systems. The market prioritizes efficiency, reliability, and durability in the face of challenges like high temperature, chemical resistance, and magnetic attributes. Cloud computing and cybersecurity are increasingly important in the industry, enabling remote monitoring and management of chain drives. The semiconductor shortage and automotive industry robotics are significant factors influencing market growth. B2B and B2C sales channels leverage trade data for market analysis, while digitization and automation levels continue to rise. Exponential smoothing techniques help forecast market trends, ensuring businesses stay competitive.

Market Research Overview

The Industrial Chain Drives market encompasses power transmission solutions that facilitate rotational motion in mechanical systems. These drives include flexible looped chains, sprockets, and various types of roller and transmission chains. The market caters to diverse industries such as bicycles, motorcycles, conveyor systems, and vehicles. Key features of industrial chain drives are efficiency, durability, and ability to handle heavy loads. Chain drives come in various forms like roller chains, conveyor chain drives, oval link chains, coil chains, and stud link chains. They are made of materials such as plain carbon steel, steel alloys, and special alloys for high temperature, chemical resistance, anti-static properties, and magnetic attributes. Applications span textiles, hoisting chains, pneumatic, electrical, and manual systems. Industrial chain drives are integral to machines and processes in sectors like textiles, assembly lines, industrial robotics, and material handling equipment such as lifts, lift trucks, forklifts, straddle carriers, and flat-top chains. The market is influenced by factors like level of automation, digitization, economy composition, semiconductor shortage, and industry trends like Big Data, Cloud Computing, Cybersecurity, and the Automotive Industry Robotics. B2B and B2C trade data are crucial for market analysis.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Industrial Sector
• Agricultural Sector
• Product Type
• Roller Chains
• Silent Chains
• Leaf Chains
• Others
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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