Press release
Modular Chain Drive Market Expand at the Fastest CAGR of 4.2% by 2025
Modular Chain Drive Market
The Modular Chain Drive Market is expected to experience robust growth over the coming years. According to Persistence Market Research, the Modular Chain Drive Market is projected to see a compound annual growth rate (CAGR) of 4.2% by the end of 2025.
Mechanical power can be transferred from one rotating shaft to another using a modular chain drive . It maintains a positive speed ratio between the driven sprockets and the engine and produces positive power transmission in the form of speed and torque ratio. The automotive and manufacturing industries frequently use modular chain drives.
Compared to belt drives, modular chain drives have a number of advantages, including being more compact, performing well at high temperatures, being able to operate in wet conditions, and being able to be used as reversing units. Because there is no power loss due to slippage, it is more efficient than a belt drive.
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Modular chain transmission market: Dynamics
The key driving factor of the global Modular Chain Drives market is the high investment in innovation in Modular Chain Drives to add more features to make it more efficient. Another driving factor of the global modular chain drive market is the growing automotive industry, due to the high demand for vehicles. Manufacturing industries are one of the major drivers of the modular chain drive market across the globe, attributed to the increasing demand for automation in manufacturing industries.
The increasing demand for flat top chains due to their long service life coupled with high strength is a driving factor of the global modular chain drive market. Increased production in the bakery and cheese industry, due to the adoption of modular chain to produce bakery and cheese products, will help boost the modular chain drive market across the globe.
Another important factor driving the global modular chain market is the growing agricultural sector, due to the high demand for modular chains in crop harvesting machines. The rapid growth of the beverage industry due to the high demand for modular chain drive conveyors at the time of the bottle filling process is driving the growth of the modular chain drive market across the globe.
The key restricting factors of the global modular chain drive are the high cost of maintenance and frequent lubrications. Another factor that is restricting the growth of the global modular chain market is the high cost and standards for the modular chain drive market. Large players in the modular chain drive market are focusing on expanding their business by opening a new plant in North America, and increasing mergers and acquisitions with domestic manufacturers are key trends in the global modular chain drive market.
Modular Chain Drive Market - Segmentation
End-use industry
Automotive
pharmaceutical products
Food and drinks
Agriculture
Mining
Defending
Logistics
packaging
Type of material
The plastic
Metal
Kind of product
Spiral
Straight
Radio
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Modular Chain Drive Market: Regional Outlook
Based on the geographies, the modular chain drive market is segmented into seven regions that include Western Europe, North America, Latin America, Eastern Europe, Japan, Asia-Pacific excluding Japan, and the Middle East & Africa. Among the above-mentioned regions, North America boasts a high market share of the worldwide modular chain drive market, followed by Western Europe, due to the high demand for modular chain in agriculture and pharmaceutical industry, while the fast-growing automotive and manufacturing industries in Western Europe are estimated to witness high growth of the modular chain drive market over the forecast period.
The North American modular chain drive market is anticipated to see a high growth rate during the forecast period, attributed to the high investment in research and development of agrosystem modular chain drives. Asia-Pacific is expected to witness positive growth in the global modular chain drive market, due to high demand for industrial purposes in emerging economies such as China and India. Japan will see a great growth of modular chain drive due to the high demand in the automotive industry.
Some prominent players of the modular chain drive market are as follows:-
TSUBAKIMOTO CHAIN CO.
Haberkorn Ulmer s.r.o
KONE NEW ZEALAND
Habasit AG
Regal Beloit Americas, Inc.
Wipperman Jr. GmbH
GEPPERT Band GmbH
Interroll (Asia) Pte. Limited.
Professional Handling Solutions
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Expert analysis, actionable insights, and strategic recommendations - the industrial automation team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on IT & Telecommunications of which 100+ reports specific for IT & Telecommunications. The team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the IT & Telecommunications industry.
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