Global Chain Drives Market Analysis and Research Report by Arizton Advisory & Intelligence

Hangzhou Donghua Chain Group, Heng Jiu, Renold, Rexnord, Tsubakimoto Chain are the leading vendors in the market. The global chain drives market was expected to reach approx. $9billion in 2016, growing at a CAGR of 5% during the period 2016–2022. The market is majorly driven by innovations, strong distribution networks of major vendors, investment growth in infrastructure, and rise in value-added offerings with an increased launch of compact, better, and powerful chain drives.
The conveyor chain segment is likely to have the largest market share in the overall market, followed by the transmission chain segment. The automotive and industrial machinery sectors are key end-user segments in the market with revenue share of more than 50%. Although the US is the largest market in terms of revenue contribution, China is the largest manufacturer and exporter and is the second largest market.

View Report: https://www.arizton.com/reports/industrial-market-analysis/chain-drives-market

Major vendors profiled in the report are as following:
● Hangzhou Donghua Chain Group
● Heng Jiu
● Renold
● Rexnord
● Tsubakimoto Chain

Other vendors include Timken, Tyma, Brammer, Diamond Chain, Ramsey Chain, John King Chains, Wippermann, Suzhou Universal Group, Chiaravalli Group, and Ewart Chain.

Introduction of innovative designed and engineered product to drive the market

The growth of the construction and manufacturing segment, rise in demand for timing chains in automotive end-users, and availability of better chain lubrication products are the significant factors that are going to drive the market growth during the forecast period. Further, the report includes the leading trends of the market. Strategic shift in the global automotive manufacturing landscape, portfolio diversification and strategic distribution partnerships of vendors, and implementation of innovative designs and engineering for high performance are the latest trends that are going to shape the market during the forecast period.

Automotive segment is going to be the major end-user segment followed by industrial machinery segment

The chain drives market for conveyor chains is expected to grow at a CAGR of 5.5% during the forecast period. The segment is expected to remain a dominant market during 2016–2022. The transmission chain, sprockets, and other parts segments are expected to witness a steady growth during the forecast period.

The automotive end-user segment is likely to have the largest market share, followed by the industrial machinery segment. The automotive and Industrial machinery segments constitute key end-user segments of chain drives with more than 50% revenue in key manufacturing regions such as the US, Japan, China, and Germany.

US to be the largest market followed by China

China, Japan, and the US are the leading countries constituting more than
50% of the sale. However, the APAC region is likely to have the largest market share followed by North America. Also, the US is going to be the largest market followed by China. The chain drives market in Europe is large enough in the region driven by demand from key end-user industries in Germany, the UK, and France. The rise in construction activities in the MEA region is going to drive the chain drives market in the region. Further, the demand for chain drives in the Latin America region is driven by the construction segment, especially on account of the rapid expansion in the public and private infrastructure.

View report details: https://www.arizton.com/reports/industrial-market-analysis/chain-drives-market

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Source: Arizton Advisory & Intelligence Reports

https://www.arizton.com/reports/industrial-market-analysis/chain-drives-market

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