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The industrial roller chain drives market share is expected to increase by USD 407.16 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 3.74%.
This industrial roller chain drives market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the industrial roller chain drives market segmentation by end-user (industrial, heavy equipment, and agricultural) and geography (APAC, North America, Europe, South America, and MEA). The industrial roller chain drives market report also offers information on several market vendors, including AB SKF, iwis, LEWCO Inc., Martin Sprocket and Gear Inc., Ramsey Products Corp., Renold Plc, Rexnord Corp., The Timken Co., The Tsubaki Group, and Wippermann junior GmbH among others.
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Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The rise in demand for oil and natural gas globally is notably driving the industrial roller chain drives market growth, although factors such as the long life of the industrial roller chain drive even in harsh environments may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial roller chain drives industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Industrial Roller Chain Drives Market Driver
One of the key factors driving the industrial roller chain drives market is the rise in demand for oil and natural gas globally. The demand for energy across the world is increasing steadily with economic growth. Nearly 80% of this growth in demand was met by oil, gas, and coal. The demand for natural gas increased by 60 Mtoe, or 70 billion cubic meters (BCM) in 2019, increasing by 1.8% over 2018 levels. Furthermore, demand for oil, including that for biofuels, jumped by 0.8% in 2019 over the 2018 levels, which was equivalent to 0.8 million barrels per day (mb/d). Therefore, there is a need to explore and produce new oil and gas reservoirs as the existing reservoirs have started to mature or face the depletion of their oil and gas resources. This is leading to the drilling of new wells. As offshore oil and gas reservoirs are larger than onshore reservoirs and the production life of offshore wells is longer than that of onshore wells. Therefore, oil and gas companies are shifting to offshore exploration and production (E&P) activities. These activities are increasing the demand for machinery, which is driving the demand for industrial roller chain drives.
Key Industrial Roller Chain Drives Market Trend
Rising technological advances in roller chains are another factor supporting the industrial roller chain that drives the market growth in the forecast period. The key manufacturers in the global industrial roller chain drive market are working toward adding innovative features to the industrial roller chain drives. This is to extend the utility of these products in extreme temperature and weather conditions. Moreover, under certain conditions, the chains are entirely maintenance-free, can be easily dismantled, and used in corrosive environments. Furthermore, these roller chain drives offer smooth operations in industrial facilities. The products offer excellent wear life qualities, which can reduce lubrication and other service-related costs. In addition, the development of new materials, manufacturing techniques, and design calculations require innovations and R&D on the part of vendors. Key vendors such as Tsubaki are creating modern technologies such as the Tsubaki Ring Coin Technology. The technology overcomes the problem of weak links in chain drives. Moreover, the R&D that the vendors undertake primarily relates to design calculations, fatigue testing, and wear tests. Such developments will continue to favor the growth of the market in focus over the forecast period.
Key Industrial Roller Chain Drives Market Challenge
The long life of industrial roller chain drives even in harsh environments will be a major challenge for the industrial roller chain drives market during the forecast period. Industrial roller chain drives are one of the best-suited equipment for mechanical power transmission in end-user industries as they are widely used in remote applications wherein harsh environments prevail. These industrial chain drives are widely used in the oil and gas, metals and mining, chemical and petrochemical, and cement industries that encounter extreme temperature and corrosive environments. Advances in industrial roller chain drive such as polymer chains, and permanent, water-resistant chains further reduce their wear and tear when being operated under harsh industrial settings. Furthermore, certain advanced chains can function under extreme industrial operations. The other key developments in lube-free industrial chains, such as self-lubricated and pre-lubricated, have eliminated the need for lubrication. This eliminates the problems arising from failure to carry out periodic maintenance. Since these roller chain drives do not wear out soon and have a long life, demand for new roller chain drives remains limited. This is limiting the growth of the market in focus during the forecast period.
This industrial roller chain drives market analysis reports and also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global industrial roller chain drives market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial roller chain drives market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the industrial roller chain drives market encompasses successful business strategies deployed by the key vendors. The industrial roller chain drives market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The industrial roller chain drives market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the industrial roller chain drives market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global industrial machinery market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturer providers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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