Press release
Top Market Shifts Transforming the Metal Power Transmission Chain Market Landscape: Key Insights
Metal Power Transmission Chain
What Is the Expected CAGR for the Metal Power Transmission Chain Market Through 2025?
There has been substantial growth in the metal power transmission chain market in the past few years. The market size is projected to expand from $8.83 billion in 2024 to $9.32 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.5%. This surge during the historical period is linked to the escalation in steam engines and power machinery utilization, upsurge in industrial mechanization, greater demand for heavy-duty machinery, a boosted need for lightweight chains, and a growing demand in the consumer electronics sector.
What's the Projected Size of the Global Metal Power Transmission Chain Market by 2029?
The market size for metal power transmission chains is anticipated to experience robust growth in the coming years. The market is projected to expand to $11.88 billion by 2029, growing at a compound annual growth rate of 6.3%. Factors contributing to this growth over the forecast period include the rising demand for high-efficiency manufacturing systems, growth in the renewable energy sector, an expansion in electric vehicle production, wider adoption of e-mobility solutions and the advancement in infrastructure projects. The future trends that will characterize this period include the use of advanced materials and coatings, the application of smart monitoring and predictive maintenance, the rise in additive manufacturing, enhanced integration in manufacturing, and the advancement in lubrication technologies.
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Top Growth Drivers in the Metal Power Transmission Chain Industry: What's Accelerating the Market?
Anticipated growth in the metal power transmission chain market is linked with the upsurge in construction activities. Construction activities constitute activities ranging from development, modification, repair, to the destruction of infrastructure such as buildings, roads, and other structures. The market's expansion can be attributed to consumers' increasing inclination towards spending more on renovation, restoration, and retrofitting tasks. Metal power transmission chains contribute to the enrichment of construction activities by providing high durability and strength, making them a perfect choice for heavy-duty machinery and equipment. They guarantee a trustworthy power transfer, augmenting operational efficiency and decreasing downtime at construction spots. For instance, the US Census Bureau, a US government establishment, reported in June 2024 that the monetary worth of construction activities climbed from $1,970.8 billion in 2023 to $2,099.0 billion in 2024, showing a growth of 10.0 percent. Hence, the escalating construction activities are fueling the expansion of the metal power transmission chain market.
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Which Fast-Growing Trends Are Poised to Disrupt the Metal Power Transmission Chain Market?
Leading firms in the metal power transmission chain market are concentrating on creating compact roller chains that offer effective power transmission for precise performance in space-limited and high-demand situations. Compact roller chains are miniature power transmission chains engineered to provide dependable performance in restricted areas, while retaining qualities like strength, durability, and smooth functionality. For example, in September 2024, Tsubakimoto Chain Co., a power transmission and roller chain producer based in Japan, launched the Epsilon Chain Stainless Steel Series (Model RS6) - the smallest roller chain worldwide with a pitch of approximately 1.905 mm - around half the pitch of their RS11 model. This groundbreaking chain guarantees reliable power transmission in tight spaces, presents an extended lifespan due to reduced wear, and attains a tensile strength of 0.36 kN. Its stainless-steel structure also assures resistance to corrosion, making it perfect for use in medical devices, healthcare equipment and industrial robotics.
What Are the Main Segments in the Metal Power Transmission Chain Market?
The metal power transmission chainmarket covered in this report is segmented -
1) By Type Of Chain: Standard Roller Chains, Heavy-Duty Roller Chains, Short Pitch Chains, Leaf Chains, Slat Chains
2) By Material Composition: Steel Chains, Stainless Steel Chains, Plastic Chains, Alloy Chains
3) By Drive Mechanism: Single Strand Drive Chains, Double Strand Drive Chains, Multi-Strand Chains
4) By Application: Industrial Machinery, Automotive, Aerospace, Food Processing, Mining And Construction
Subsegments:
1) By Standard Roller Chains: Single Strand Chains, Double Strand Chains, Triple Strand Chains
2) By Heavy-Duty Roller Chains: Heavy-Duty Single Strand Chains, Heavy-Duty Double Strand Chains, Heavy-Duty Triple Strand Chains
3) By Short Pitch Chains: Precision Short Pitch Chains, Conveyor Short Pitch Chains
4) By Leaf Chains: AL Series (Light Duty Series), BL Series (Heavy Duty Series)
5) By Slat Chains: Steel Slat Chains, Plastic Slat Chains
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Which Top Companies are Driving Growth in the Metal Power Transmission Chain Market?
Major companies operating in the metal power transmission chain market are Aktiebolaget SKF, Rexnord Corporation, Tsubakimoto Chain Co., KOBO LLC, Daido Kogyo Co. Ltd., Renold Jeffrey, Hangzhou Qianjiang Chain Industries Co. Ltd., SENQCIA Corporation, Designatronics Inc., Shining Industrial Holdings Ltd., Katayama Chain Co. Ltd., CAN-AM Chains, PEER Chain, Tsubaki India Power Transmission Pvt. Ltd., TIDC Industrial Chains Division, Asar Engineering Pvt. Ltd., Dhaval Engineers, MAXCO Chain Ltd., Asian Engineering Works, Tripcon Engineering Pvt. Ltd.
Which Regions Will Dominate the Metal Power Transmission Chain Market Through 2029?
Asia-Pacific was the largest region in the metal power transmission chain market in 2024. The regions covered in the metal power transmission chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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