Industrial Power Transmission Chain Market Report
Industrial Power Transmission Chain Market is Segmented by Application Type (General Industries, Energy & Others, Construction Materials, Food & Beverage, Warehouse & Distribution, Lumber & Aggregates, and Agriculture), by Chain Type (Roller Chain, Silent Chain, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Industrial Power Transmission Chain Market is Segmented by Application Type (General Industries, Energy & Others, Construction Materials, Food & Beverage, Warehouse & Distribution, Lumber & Aggregates, and Agriculture), by Chain Type (Roller Chain, Silent Chain, and Others), by...
Impact of COVID-19 on Industrial Power Transmission Chain Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Industrial power transmission chain is made up of chain links that interlock with sprocket gear teeth. Industrial power transmission chain provides a number of advantages, including smooth and efficient operation even in severe temperatures and resistance to corrosion and chemicals. They have a wide range of industrial applications, including lifting and moving large goods as well as operating conveyors.
The global market for industrial power transmission chains is mainly driven by an increase in industrial production, construction & mining activities, agricultural production, coupled with the advancements in technologies aiming to improve the efficiency of a production unit and ease the operational process. However, in 2020, the industrial power transmission chain market was severely impacted by the COVID 19 outbreak, witnessing a huge decline, owing to the shutdown of manufacturing facilities and halts in industrial activity.
Roller chain is most commonly employed in the manufacturing industry, but it is also widely used in other end-use industries like transportation, construction & mining, agricultural equipment, oil & gas, petrochemical, and logistics. Furthermore, Product advancements, such as the creation of advanced roller chains, and widespread use of inverted tooth chains are all likely to contribute to the market expansion. The industrial power transmission chain market is likely to rebound at a promising CAGR of 3.1% in the long run to reach US$ 7.3 Billion in 2027.
Based on the application type, the industrial power transmission chain market is segmented as general industries, energy & others, construction materials, food & beverage, warehouse & distribution, lumber & aggregates, and agriculture. The general industries segment is expected to remain the most dominant one, whereas warehouse & distribution is expected to be the fastest-growing application type in the market during the forecast period. Power transmission chains are in high demand due to improvements in automotive engineering paired with the deployment of innovative designs and technologies. Widespread use of transmission chains in the chemical, pharmaceutical, mining, and construction industries are the key factors responsible for market growth.
Based on the chain type, the market is segmented as roller chain, silent chain, and others. Roller chain is expected to remain the dominant chain type in the market during the forecast period. Roller chain has a number of benefits that ensure that they do not wear out over their service life in critical industrial environments. These chains are commonly used in industries with high temperatures, pressure, and corrosive conditions.
Based on the end-user type, the market is segmented as OE and aftermarket. Aftermarket is expected to remain the dominant segment during the forecast period because power transmission chains are susceptible to excessive wear and strain. As a result, chains in industrial equipment must be replaced after a period of time. Also, manufacturers prefer to switch to new advanced power transmission chains with the evolution of technology.
In terms of regions, Asia-Pacific is expected to remain the largest as well as the fastest-growing market for industrial power transmission chains during the forecast period due to increased demand for power transmission chains in many end-use industries in countries like China, India, South Korea, Thailand, and Japan. Manufacturers of industrial chains are focusing on expanding in Asia-Pacific, particularly in China, to tap the growing demands. The Asia-Pacific region is being driven by an increase in automobile production and construction activities in developing countries, such as India and China, as a result of rising industrialization.
The following are the key players in the industrial power transmission chain market.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s industrial power transmission chain market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The industrial power transmission chain market is segmented into the following categories.
Industrial Power Transmission Chain Market, by Application Type
Industrial Power Transmission Chain Market, by Chain Type
Industrial Power Transmission Chain Market, by End-User Type
Industrial Power Transmission Chain Market, by Region
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The industrial power transmission chain market is estimated to grow at a CAGR of 3.1% by 2027.
Tsubakimoto Chain Group, Regal PTS, Rexnord Company, Renold, Timken, SKF, Regina Catene Calibrate Spa, The Morse Chain, Schaeffler, and Iwis Antriebssysteme are the leading players in the industrial power transmission chain market.
Asia-Pacific is estimated to remain dominant in the industrial power transmission chain market in the foreseen future.