Global Industrial Roller Chain Drives Market is set to increase to about USD 4.48 Billion by 2030

07-Dec-2022 | Zion Market Research

The global industrial roller chain drives industry size was nearly USD 2.85 billion in 2021 and is set to increase to about USD 4.48 billion by 2030 with a compound annual growth rate (CAGR) of nearly 3.7% between 2022 and 2030.

Industrial roller chains are a series of cylindrical rollers connected via links. Furthermore, these products are utilized for transmitting machine-driven power to various equipment such as motorcycles, printing presses, conveyors, and bicycles. Apart from this, industrial roller chains find a plethora of applications in material handling, food processing, and manufacturing sectors owing to the numerous benefits provided by these products.

Expansion of the global industrial roller chain drives market over the assessment period can be attributed to the growing demand for automated equipment. Moreover, the onset of industry 4.0 revolution is predicted to bring a paradigm shift in the global industry and will favorably impact the expansion of the global market.

In addition, the use of industrial roller chain drives reduces corrosion and wear & tear occurring in the equipment in extreme climatic conditions and harsh industrial environments. This aspect will increase product sales, thereby spurring the revenue of the global market. All the aforementioned factors are likely to carve a profitable growth curve for the industrial roller chain drives industry in the years ahead.

However, the rise in online promotions on social media, print media, & television and the increase in use of smartphones leading to growing internet use has helped in increasing the demand for duplicate & counterfeit products. This, in turn, is predicted to pose a huge threat to the growth of the global industrial roller chain drives industry. Nevertheless, favorable government initiatives in emerging economies aiding the expansion of small-scale factories will create new horizons of growth for the global industry.

Global Industrial Roller Chain Drives Market

The global industrial roller chain drives market is divided into end-user industry, application, type, and region.

On basis of end-user industry, the global industrial roller chain drives industry is sectored into mining, manufacturing, and others. Furthermore, the manufacturing segment is predicted to account for the major share of the global market during the assessment period. The growth of the segment over the projected timeframe is credited to a surge in demand for consumer goods, metals, and packaging materials. Moreover, industrial roller chain drives find a spectrum of applications in the manufacturing segment with power transmission being one of the key product applications in the segment. This has contributed immensely towards segmental growth.

Based on application, the global industrial roller chain drives industry is divided into conveyor and power transmission segments. Furthermore, the conveyor segment is set to record the fastest CAGR over the forecast timespan. The segmental growth can be attributed to rise in use of double-pitch roller chains in conveyors utilized in auto parts and precision machinery industries. In addition to this, large scale use of eco-friendly and lubrication-free double pitch chain drives in conveyors is predicted to boost the surge of the industrial roller chain drives market across the globe.

The Asia-Pacific region is predicted to account majorly for the global industrial roller chain drives market share by 2030. The growth of the regional market can be attributed to the presence of a large number of industrial roller chain drives manufacturers in the countries such as China, India, and Japan. Furthermore, massive utilization of the product in material handling, transport & logistics, industrial manufacturing, and construction sectors will open new vistas for the industrial roller chain drives industry in the Asia-Pacific zone.

Moreover, the industrial roller chain drives market in Latin America and the Middle East & Africa is anticipated to register the highest CAGR from 2022 to 2030. The rapid growth of the market in these regions can be attributed to the massive demand for product in the manufacturing and mining industries in these regions. Apart from this, easy access to upgraded, lube-free, and wear-resistant roller chains and roller chains with high strength will boost the expansion of the industrial roller chain drives industry in Latin America and the Middle East & Africa.

Key players profiled in the global industrial roller chain drives market include KettenWulf Betriebs GmbH, Martin Sprocket & Gear, Inc., Allied-Locke Industries Inc, Ewart Agri Services Ltd., Tripcon Engineering Pvt. Ltd., PEER chain, Rubix Company, AB SKF, Regal Rexnord Corporation, iwis engine systems India Pvt. Ltd., Diamond Chain Company Inc., HKK Corporation, Renold PLC, Tsubakimoto Chain Co., Ramsey Products Corporation, John King Chains Ltd., and Wippermann junior GmbH.

Recent Developments:

  • In the first quarter of 2019, the Timken Company, a leading manufacturer of engineered bearings and power transmission products globally, made the acquisition of The Diamond Chain Company, a key producer of roller chains, from Amsted Industries. The strategic move is projected to boost the performance of Timken and will contribute majorly to its product portfolio.
  • Moreover, the acquisition will help Timken establish a strong position in distribution activities and will enhance its manufacturing abilities in Asia.

This review is based on a report by Zion Market Research, titled Industrial Roller Chain Drives Market By Type (Single Strand Chain, Multi Strand Chain, Double Pitch Chain, and Others), By Application (Conveyor and Power Transmission), By End User Industry (Mining, Manufacturing, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/industrial-roller-chain-drives-market

The global industrial roller chain drives market is segmented as follows:

By Type

  • Single Strand Chain
  • Multi Strand Chain
  • Double Pitch Chain
  • Others

By Application

  • Conveyor
  • Power Transmission

By End User Industry

  • Manufacturing
  • Mining
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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