Press release
Drag Chain for Machine Market to reach USD 153.20 Bn by 2029, emerging at a CAGR of 8.4 percent and forecast 2023-2029
Drag Chain for Machine Market
Maximize Market Research Pvt Ltd, a leading market research firm, has published a comprehensive market research report on the Global Drag Chain for Machine Market. The report reveals that the market was valued at USD 80.35 Million in 2021 and is expected to reach USD 153.20 Million by 2029, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 8.4% during the forecast period from 2022 to 2029.
The Global Drag Chain for Machine Market report provides insights based on extensive research and analysis. The market is segmented by type, material, and application. Types include open and closed, materials encompass plastic, steel, and others, and applications range from CNC machine tools, glass machinery, electric machinery, to others. The report covers regional insights for North America, Asia Pacific, Europe, Middle East & Africa, and South America.
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Drag Chain for Machine Market Dynamics:
Cable drag chains, known as energy chains, are crucial components used in various industries to support, guide, and safeguard cables, hydraulic lines, and hoses during machine movement. The report highlights that the market is driven by factors such as growing applications in corrosive environments, increasing focus on processing industries and manufacturing, rising installations of CNC machines, and the adoption of new and enhanced materials. However, it also addresses challenges, including the degrading operational characteristics of drag chains at elevated temperatures.
North America is expected to dominate the Global Drag Chain for Machine Market, with the United States leading the industry due to its strong position in manufacturing and the constant need for production capacity improvement.
Europe is witnessing growth, primarily driven by investments in electronic equipment and automation applications. In the Asia Pacific region, countries like China, India, and Japan are experiencing significant growth, thanks to expanding industrial infrastructure, urbanization, and investments in various sectors.
Drag Chain for Machine Market Regional Insights:
The market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and South America. Key regional highlights include:
North America: The United States is set to dominate the market due to its strong manufacturing and industrial sectors, coupled with investments in machine tool industries and automatic equipment.
Europe: European markets benefit from increasing finances for installing drag chains in electronic equipment, such as injection robotics, moulding machines, and automated warehousing applications.
Asia Pacific: China, India, Japan, and Southeast Asian nations are expected to lead the market growth, driven by expanding industrial infrastructure, population migration to urban areas, and investments in hydrocarbon assets.
Cavotec: The company is expanding its presence in Asia and worldwide by inaugurating a new office in Malaysia, catering to the growing industrial installations in the region.
Igus GmbH: Focusing on acquiring new contracts through its branches to strengthen its position in the market, Igus GmbH offers a wide variety of cable product offerings, including cable carriers for CNC equipment.
Leoni Factory Automation: The company recently sold most of its industrial business to BizLink Holding Inc., marking an important milestone in its path toward long-term stabilization and focusing on the Wiring System Division.
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Drag Chain for Machine Market Segmentation:
by Type
• Open
• Closed
by Materials
• Steel
• Plastic
• Others
by Application
• CNC Machines Tools
• Glass Machinery
• Electric Machinery
• Others
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Drag Chain for Machine Market Key Players:
• igus GmbH (Germany)
• Murrplastik Systems, Inc. (U.S.)
• HELUKABEL GmbH (Germany)
• Brevetti Stendalto S.p.A. (Italy)
• Lapp Group (Germany)
• Hennig (U.S.)
• RR Kabel Limited (India)
• Arno Arnold GmbH (Germany)
• Cavotec (Switzerland)
• Ekd Gelenkrohr GmbH (Germany)
• Dynatect Manufacturing, Inc. (U.S.)
• LEONI Factory Automation (Germany)
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Table of content for the Drag Chain for Machine Market includes:
1. Global Drag Chain for Machine Market: Research Methodology
2. Global Drag Chain for Machine Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3.Global Drag Chain for Machine Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4 . Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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Contact Maximize Market Research:
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Chicago, IL, 60606, USA.
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About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of the majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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