Global Industrial Roller Chain Drives Market 2017-2021
About Industrial Roller Chain Drives
An industrial roller chain drive is a type of chain drive that is commonly applied for transmission of machine-driven power from industrial and agricultural machinery. It is used in machinery to drive with the help of a sprocket. These industrial roller chains are commonly used in low-speed to mid-speed drives, and a few high-speed drive applications.
Technavio’s analysts forecast the global industrial roller chain drives market to grow at a CAGR of 3.38% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial roller chain drives market for 2017-2021. To calculate the market size, the report considers the sales, retrofit, replacement, spares, and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Roller Chain Drives Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial roller chain drives market: iwis, Renold, Rexnord, and Tsubakimoto Chain.
Other Prominent Vendors in the market are: Chiaravalli Group, Diamond Chain Company, DID, Dong Bo Chain (DBC), Ewart Chain, Fenner, HangZhou DongHua Chain Group, HONGSBELT, LEWCO, Martin Sprocket & Gear, SKF, Tesmec, Timken, and YUK Group.
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 and market alliances by leading vendors are trends that will gain considerable momentum during the forecast period. Vendors are trying to diversify their businesses through increased investments in new avenues to sustain a competitive power. The purpose is to intensify revenue growth and prevent dependence on a single segment of chain drives. Many manufacturers are also enhancing their current product portfolio through M&A. Some international vendors are establishing strategic alliances and partnerships with local vendors to explore the indigenous market.”
According to the report, one of the major drivers for this market is increasing revenue in the replacement market. Industrial roller chain drives are implemented in machines with continuous lubrication activities to have a high service life. The service life is a major factor where the industrial roller chain drives require suitable and timely lubrication for a smoother process and extended lifespan. Most end-user industries do not follow proper maintenance procedures, and other human errors lead to early breakdowns of industrial roller chain drives. Industrial chain drive vendors take this opportunity to generate additional revenue by convincing clients to place replacement orders or offering additional after-sales services. In Europe and North America, there is considerable scope for replacement activities, as they are the forerunners in replacement activities of industrial chain drives.
Further, the report states that one of the major factors hindering the growth of this market is slowdown of market in major economies. The global industrial roller chain drives market has a major slowdown from the economic recession in 2008, which hindered the growth in countries worldwide, especially the greenfield and brownfield projects in industrial sectors. These projects require large capital investments for the assets, especially industrial machinery and this recession affected those investments. This weakening factor considerably influenced the demand patterns of the industrial users.
iwis, Renold, Rexnord, Tsubakimoto Chain, Chiaravalli Group, Diamond Chain Company, DID, Dong Bo Chain (DBC), Ewart Chain, Fenner, HangZhou DongHua Chain Group, HONGSBELT, LEWCO, Martin Sprocket & Gear, SKF, Tesmec, Timken, and YUK Group.