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Chain Drives Market Report by Product Type (Roller Chains, Silent Chains, Leaf Chains, and Others), End-User (Industrial Sector, Heavy Equipment Industry, Agricultural Equipment Industry, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A1368
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Market Overview:
The global chain drives market size reached US$ 5.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.
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Report Attribute
|
Key Statistics
|
|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 5.3 Billion |
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Market Forecast in 2032
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US$ 7.1 Billion |
| Market Growth Rate 2024-2032 | 3.2% |
A chain drive, also known as roller chain or transmission chain, is a power transmitting mechanism that consists of chain links meshed with the teeth of a sprocket gear. It is an instrument that is used to transmit speed and torque from the engine to the wheels using a looped chain, particularly in motorcycles and chain-driven vehicles and equipment. Chain drives are suitable for small lengths and operate at high velocity. Smooth and efficient functionality even in extreme temperatures, easy installation and resistance to water, oil, chemicals and sunlight are some of the key advantages of chain drives. They have wide industrial applications for various purposes such as rigging and moving heavy materials, and operating conveyor belts.
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The increasing number of construction activities owing to rapid industrialization is the key factor driving the global market. Additionally, advancements in the automotive engineering sector and the implementation of innovative designs and technologies are also driving the demand for chain drives. Manufacturers are opting for mechanical units consisting of basic chain drives to ensure maximum utilization of resources and smooth operations. Furthermore, the rise in the demand for timing chain drives in the manufacturing industry along with the availability of efficient chain lubrication products and increasing automation in the end use industries are expected to catalyze the market growth. Other factors including product innovations, such as the development of roller chains, wide application of inverted tooth drive chains and the availability of low-cost raw materials are further expected to drive the market growth.
IMARC Group’s latest report provides a deep insight into the global chain drives market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global chain drives market in any manner.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global chain drives market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on product type and end-user.
Breakup by Product Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Roller Chains
- Silent Chains
- Leaf Chains
- Others
Breakup by End-User:
- Industrial Sector
- Heavy Equipment Industry
- Agricultural Equipment Industry
- Others
Breakup by Region:
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- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Regal Beloit Corporation, Renold PLC, Rexnord Industries, LLC, AB SKF, The Timken Company, Tsubakimoto Chain Group, Brammer PLC, John King Chains Ltd., Diamond Chain Company, Inc., Kraftmek Oy, Ramsey Products Corporation and Rambo Chain.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Product Type, End-User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Regal Beloit Corporation, Renold PLC, Rexnord Industries, LLC, AB SKF, The Timken Company, Tsubakimoto Chain Group, Brammer PLC, John King Chains Ltd., Diamond Chain Company, Inc., Kraftmek Oy, Ramsey Products Corporation and Rambo Chain |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global chain drives market was valued at US$ 5.3 Billion in 2023.
We expect the global chain drives market to exhibit a CAGR of 3.2% during 2024-2032.
The rising demand for chain drives in industrial applications for numerous purposes, such as rigging and moving heavy materials and operating conveyor belts, is catalyzing the global chain drives market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of chain drivers across diverse sectors, to automate numerous operations and limit human interaction for reducing the risk of coronavirus infection.
Based on the product type, the global chain drives market has been segmented into roller chains, silent chains, leaf chains, and others. Currently, roller chains hold the majority of the total market share.
Based on the end user, the global chain drives market can be divided into industrial sector, heavy equipment industry, agricultural equipment industry, and others. Among these, industrial sector accounts for the largest market share.
On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global chain drives market include Regal Beloit Corporation, Renold PLC, Rexnord Industries, LLC, AB SKF, The Timken Company, Tsubakimoto Chain Group, Brammer PLC, John King Chains Ltd., Diamond Chain Company, Inc., Kraftmek Oy, Ramsey Products Corporation and Rambo Chain.
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