Chain Drives Market Analysis, Trends, Drivers, Market Size and Growth Forecast

The global chain drives market was expected to reach approx. $9 billion, 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. Hangzhou Donghua Chain Group, Heng Jiu, Renold, Rexnord, Tsubakimoto Chain are the leading vendors in the market.

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

The conveyor chain segment is likely to have the largest market share in the overall chain drives market, followed by the transmission chain segment. The automotive and industrial machinery sectors are key end-user segments in the chain drives 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.

Chain Drives Market: Key Vendor Analysis
The report profiles the leading vendors and provides a complete value chain analysis of the chain drives market. Major strengths, strategies, and opportunities of the major companies are discussed in the report.
Hangzhou Donghua Chain Group, Heng Jiu Renold, Rexnord, Tsubakimoto Chain are Key vendors in the global market.

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.

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