Global Chain Couplings Market 2017-2021
About Chain Couplings
Chain couplings are used in power transmission applications and to transmit more than hundreds of horsepower of energy. Chain couplings use sprockets and double wide roller chains to operate as flexible couplings. Couplings are basically required to transmit power smoothly and in an efficient way so that all machinery and industrial processes can operate effectively. There has been a rise in the use of couplings in different industries as these devices provide proper control to shafts, which in turn helps to address power loss problems in industries. In the global chain couplings market, roller and nylon chain couplings are used to protection shafts of the peripheral equipment. Heavy, material handling, and machine tools industries are the major end-users for chain couplings.
Technavio’s analysts forecast the global chain couplings market to grow at a CAGR of 3.21% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global chain couplings market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of chain couplings.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Chain Couplings Market 2017-2021
Technavio recognizes the following companies as the key players in the global chain couplings market: ABB, Cross & Morse, KANA Group, Regal Beloit, and Tsubakimoto Chain
Other Prominent Vendors in the market are: Timken, WMH Herion, Nozag, Linn Gear, Challenge Power Transmission, and Renold.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Customization of chain couplings. Currently, manufacturers are focusing on designing chain couplings to meet end-user requirements. For such customization, manufacturers are focusing on delivering the product within a particular interval of time. The manufacturers are also enjoying loyalty from original equipment manufacturers, which ensures a longer service contract. The trend of customized chain couplings is expected to pick up with the incorporation of better design and material incorporation during manufacturing.”
According to the report, one of the major drivers for this market is Cost savings through chain couplings. A flexible coupling helps in smooth operations and enables mechanical fastening of devices. Chain couplings have a negligible environmental impact and they save a lot of energy, thereby helping end-users in cost savings. These couplings aid in power transmission in devices that helps in completing the industrial process in a comparatively lesser time than the substitute devices. Chain couplings have sprockets that form a very strong connection to chains and the peripheral equipment. The couplings help equipment avoid wear and tear under the harshest conditions even when they are used for long durations. This reduces the overall spend on replacement and installation of new couplings. Chain couplings help the peripheral equipment to work faster and perform well in applications that require frequent transitions in speed. Generally, the equipment wears out or gets contaminated due to the frequent changes in speeds, but the use of chain couplings gives the peripheral equipment a rigid structure and this ensure smooth functioning. Through these measures, the overall lifetime of the assets in the industry increases and the cost spend on frequent servicing also reduces.
Further, the report states that one of the major factors hindering the growth of this market is Highly fragmented nature of market. The global chain couplings market is a highly fragmented as it has a mix of regional and global vendors operating across several locations. The standard and quality of manufacturing also differs from region to region and depends largely on the financial prowess of manufacturers. In APAC, which contributes the highest revenue in the overall market, there are several regional and local unorganized players. These players are basically small and medium scale manufacturers that cater to a limited and loyal customer base.
ABB, Cross & Morse, KANA Group, Regal Beloit, and Tsubakimoto Chain, Timken, WMH Herion, Nozag, Linn Gear, Challenge Power Transmission, and Renold.
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