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The global chain drives market was valued at US$ 4.9 Billion in 2021.
We expect the global chain drives market to exhibit a CAGR of 3.8% during 2022-2027.
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, Renold, Rexnord, SKF,
The Timken Company, Tsubakimoto Chain Co., Brammer, John Kings Chains, Diamond Chain Company,
Inc., Kraftmek, Ramsey Products Corporation, Rambo Chain, etc.
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