Global Industrial Chain Drives Market 2018-2022
About Industrial Chain Drives
An industrial chain drive is commonly used for the transmission of machine driven power from industrial and agricultural machinery. These chain drives are used commonly in low-speed to mid-speed applications and a few highspeed applications.
Technavio’s analysts forecast the global industrial chain drives market to grow at a CAGR of 3.20% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial chain drives market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of industrial chain drives.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Chain Drives Market 2018-2022
Technavio recognizes the following companies as the key players in the global industrial chain drives market: Regal Beloit, Renold, Rexnord, SKF, The Timken Company, and TSUBAKIMOTO CHAIN
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rise in mergers and acquisitions (M&A). M&A and market alliances between vendors will provide considerable market growth momentum for industrial chain drives during the forecast period. Chain and sprocket manufacturers are trying to expand their businesses in developing regions through more investments in new avenues to sustain a competitive advantage over the other key industrial chain manufacturers.”
According to the report, one of the major drivers for this market is Growing end-user investments in APAC. The demand for industrial chain drives in APAC has increased due to the growing investments in the end-user industries. The availability of low-cost raw-materials, easy availability of labor resources, advantageous demographic conditions, high demand for industrial products, and low manufacturing costs are the factors that support the high growth potential of industrial chain drive manufacturers in Asia.
Further, the report states that one of the major factors hindering the growth of this market is High costs with regard to lubrication and related services. ndustrial chain drives have some hidden costs like lubrication, frequent maintenance, and fast wear. Most industrial chain drives require lubrication and frequent services to increase their service life; however, the latest lube-free industrial chain drives are an exception. For instance, conveyor chains require continuous lubrication during their operation to reduce energy losses arising from friction.
Regal Beloit, Renold, Rexnord, SKF, The Timken Company, and TSUBAKIMOTO CHAIN
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook