Global Chain Drives Market 2016-2020

Overview of the global chain drives market

Technavio’s market research analyst predicts the global chain drives market to grow at a CAGR of around 3% by 2020. The rise in the replacement activities across several industries is primarily driving the growth of this market. Chain drives require adequate and timely lubrication for smoother operation and longer lifespan. This has prompted vendors to offer additional after-sales services to the customers. Replacement activities enable the providers to communicate and interact with their customers and develop better-customized drives and maintain their loyalty to the brand. The servicing and replacement activities are turning out to be important models for revenue generation in the global chain drives market.

The manufacturers in the market are coming up with innovative features in chain drives to increase their utility. They have introduced inverted-tooth chain or a silent chain drive which is designed to transfer high loads in small spaces. Silent chain drives are more compact than gear drives, and can operate at loads and speeds that exceed the capability of belts and other types of chains. Also, these chains operate smoothly at reduced vibration, noise, and frictional losses, thereby increasing their usage in several industries.

Segmentation by end-users and analysis of the chain drives market

• Industrial sector
• Heavy equipment industry
• Agricultural equipment industry

The industrial sector is the largest end-user of chain drives and is expected to occupy 59% of the total market share by 2020. The cement industry is the primary user of chain drives owing to the increase in the construction activities across the globe. The industrial chain drives are used to execute several functions which include hot clinker conveyors, crusher feeder, scraper, bucket wheel excavator, reclaim conveyors, elevators, drying kilns, and apron feeders. With the growing cement consumption, there are high growth prospects for the industrial segment in the coming years.

Geographical segmentation and analysis of the chain drives market

• Americas
• APAC
• EMEA

By 2020, the APAC will dominate the market and is expected to account for more than 43% of the overall market share. The rise in construction activities and growing investments in the process industries are accelerating the demand for chain drives in the region. Factors such as continued investments in capacity additions and plant infrastructure upgrades from cement, pulp and paper, oil and gas, and automotive industries will boost the demand for chain drives over the next four years.

Competitive landscape and key vendors

Intense competition prevails in the market where vendors compete in terms of product features, prices, customized solutions, and the services offered. The established vendors are focusing on their geographical expansion, increasing production capacities, and upselling products by upgrading the existing ones. These key players are making huge investments in developing latest technologies for chain drives, which has led to the development of the modern chain drive system primarily designed to address and fulfil the needs of end-users.

Key vendors in the market include -

• Chiaravalli
• Renold
• Rexnord
• Timken
• Tsubakimoto Chain

Other prominent vendors in the chain drives market are Brammer, Diamond Chain, Ewart Chain, FB Ketjutekniikka, John King Chains, KettenWulf, Ramsey Chain, Rockman Industries, Rombo Chain, TIDC India, US Tsubaki, Webster Industries, and Wippermann.

Key questions answered in the report include

• What will the market size and the growth rate be of the global chain drives market in 2020?
• What are the key factors driving the global chain drives market?
• What are the key market trends impacting the growth of the global chain drives market?
• What are the challenges to market growth?
• Who are the key vendors in the global chain drives market?
• What are the market opportunities and threats faced by the vendors in the global chain drives market?
• Trending factors influencing the market shares of the global chain drives market in Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global chain drives market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

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• Global Chains and Sprockets Market for Material Handling Equipment 2016-2020
• Global Chain Drives Market 2015-2019