Global Chain Drives Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Hoisting Chains, Power Transmission Chains, Conveyer Chains), By Application (Agriculture Machinery, Automotive, Building Construction, Material Handling Equipment, Others), And By Geography - Forecasts From 2021 To 2026

Published:  Jun 2021 Report Code: KSI061610785 Pages: 122

The global chain drives market is expected to grow at a compound annual growth rate of 3.21% over the forecast period to reach a market size of US$6.03 billion in 2026, from US$4.83 billion in 2019.

The market is expected to surge in the coming years, because of the rise and growth in the automotive sector, construction and manufacturing sector, agriculture sector, and others, worldwide. In an industry, chain drives are used to perform three functions such as conveying materials, transmitting power, and for several timing purposes.

Some of the chain drive’s industrial applications are hydraulic lift truck fork operation, rigging and moving heavy materials, overhead hoists, and others. With the increasing investments and advancements in the development of the internet of things and artificial intelligence for the industrial and manufacturing sector, the market is expected to surge at an exponential rate, during the forecast period. Growth in the agriculture sector is also expected to be a positive development for the market, because of the increase in food production and the demand for high-quality products.

Growth in the automotive industry

The market is expected to surge in the coming years, because of the growth in the automotive industry, globally. According to the data given by the International Organization of Motor Vehicle Manufacturers, around 92.17 million motor vehicles were produced in the year 2019. According to several official reports, company analysis, and trends, overall car sales will continue to rise and grow by approx. 2%, during the forecast period. There has been a rise in the demand for electric vehicles, which is expected to propel market growth, in the coming years. According to the data given by the International Energy Agency, sales of electric cars or vehicles grew to 2.1 million, globally, in the year 2019.

The electric car and vehicle sales registered and generated an approx. 40% on-year growth, between the years 2018 and 2019. Several countries and unions have been making significant developments in the market. In India, according to the data given by the Indian government, the country manufactures and produces around 26 million vehicles, which includes commercial vehicles, passenger vehicles, two-wheelers, three-wheelers, and quadricycles from April to March 2020. The country is also the world’s biggest manufacturer of tractors and the second-biggest bus manufacturer. Europe is also one of the major manufacturers and producers of automotive vehicles, globally. According to the European Commission, the industry provides direct and indirect jobs to around 13.8 million Europeans, out of which 2.6 million people work in the manufacturing of motor vehicles in the region. The region is one of the world’s largest producers of motor vehicles. The sector also represents the biggest private investor in research and development.

According to the European Automobile Manufacturers Association, 18.5 million motor vehicles were produced in the region, in the year 2019, and it represented about 20% of the total motor vehicle production. The United States is also one of the major players in the market. According to the data given by the US government, the country is the world’s second-biggest market for vehicle sales and production. Since the year 1982, major Korean, Japanese, and European automakers had invested more than US$75 billion in the country. In the year 2018, total foreign direct investment in the country reached US$114.6 billion, in the year 2018. China’s domestic vehicle production had been expected to reach 35 million vehicles by the year 2025, according to data from the country’s Ministry of Industry and Information Technology. This makes the country one of the major markets for chain drives, globally. With these trends, the market is expected to surge at an exponential rate during the forecast period.

Growth in the construction sector

The market is expected to surge in the coming years, because of the growth in the construction sector, globally. Chain drives are used in the lifting of loads and are used to carry material. It is also used in the transmission of power in the construction industry. According to several official reports, the construction sector is expected to grow at a significant rate, during the forecast period. Countries like India, China, and the United States are expected to drive market growth, in the coming years. According to the data given by the Indian government, the country’s construction market is expected to cross Japan, and become the third’s biggest by the year 2025, globally. 

By the year 2020, the country’s construction industry revenue had been expected to reach US&5 billion. In the United States, according to the data given by the AGG (The Construction Association), the industry creates around US$1.3 trillion worth of structures, annually, and is one of the biggest customers for mining, manufacturing, and a variety of services. The World Bank estimated that the construction industry added 25.606% of value to global GDP. These trends are expected to have positive developments for the global chain drives market, during the forecast period.

Company Analysis

The market is expected to surge in the coming years, because the innovation and advancement in the chain drive the market, globally. There has been an evolvement in manufacturing technologies, which includes advanced robotics, artificial intelligence, and the Internet of Things, which are often referred to as Industry 4.0. Major companies have been making significant developments in the market, in the past few years. Iwis has become one of the leading players in the market. The company has been providing advanced and high-performance chain drive products to innovative drive chain systems. Renold also provides high-precision chain drives and power transmission products to its customers, globally. The company has been making and providing products for subway trains to power stations, cement making, chocolate manufacturing, and other industries. The company’s conveyor chain contains a series of journal bearings, which consists of a bush and a bearing pin on which the chain roller revolves. Other companies are also making significant developments in the market, which is expected to drive the market growth, during the forecast period.

Global Chain Drives Market Scope:
Report Metric Details
 Market size value in 2019  US$4.83 billion
 Market size value in 2026  US$6.03 billion
 Growth Rate  CAGR of 3.21% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Iwis, Diamond By Timken, Renold, Drives, Tripcon Engineering Pvt. Ltd.,   KettenWulf,   SFR Chain, Conkord Engineering, Ramsey Chain, HKK Chain
 Customization scope  Free report customization with purchase

 

 Segmentation:

  • By Type
    • Hoisting Chains
    • Power Transmission Chains
    • Conveyer Chains
  • By Application
    • Agriculture Machinery
    • Automotive
    • Building Construction
    • Material Handling Equipment
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • South Africa
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • Others

Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for the chain drives market?
A1. The chain drives market is expected to grow at a CAGR of 3.21% during the forecast period.


Q2. What will be the chain drives market size by 2026?
A2. The global chain drives market is expected to reach a market size of US$6.03 billion by 2026.


Q3. What is the size of the global chain drives market?
A3. Chain Drives Market was valued at US$4.83 billion in 2019.


Q4. Who are the major players in the global chain drives market?
A4. Major industry players profiled as part of the chain drive market report are Iwis, Diamond By Timken, Renold, Drives, Tripcon Engineering Pvt. Ltd., and KettenWulf among others.


Q5. What factors are anticipated to drive the chain drives market growth?
A5. The market is expected to surge in the coming years, because of the rise and growth in the automotive sector, construction and manufacturing sector, agriculture sector, and others, worldwide.

1. Introduction
1.1. Market Definition
1.2. Market Segmentation


2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Global Mirrorless Camera Market Analysis, By Type
5.1. Introduction
5.2. Fixed Lens
5.3. Interchangeable Lens

6. Global Mirrorless Camera Market Analysis, By Distribution Channel
6.1. Introduction
6.2. Online
6.3. Offline

7. Global Mirrorless Camera Market Analysis, by Geography
7.1. Introduction
7.2. North America
7.2.1. North America Mirrorless Camera Market Analysis, By Type, 2019 to 2026
7.2.2. North America Mirrorless Camera Market Analysis, By Distribution Channel, 2019 to 2026
7.2.3. By Country
7.2.3.1. United States
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. South America
7.3.1. South America Mirrorless Camera Market Analysis, By Type, 2019 to 2026
7.3.2. South America Mirrorless Camera Market Analysis, By Distribution Channel, 2019 to 2026
7.3.3. By Country
7.3.3.1. Brazil
7.3.3.2. Argentina
7.3.3.3. Others
7.4. Europe
7.4.1. Europe Mirrorless Camera Market Analysis, By Type, 2019 to 2026
7.4.2. Europe Mirrorless Camera Market Analysis, By Distribution Channel, 2019 to 2026
7.4.3. By Country
7.4.3.1. UK
7.4.3.2. Germany
7.4.3.3. France
7.4.3.4. Italy
7.4.3.5. Others
7.5. The Middle East and Africa 
7.5.1. Middle East and Africa Mirrorless Camera Market Analysis, By Type, 2019 to 2026
7.5.2. Middle East and Africa Mirrorless Camera Market Analysis, By Distribution Channel, 2019 to 2026
7.5.3. By Country
7.5.3.1. Saudi Arabia
7.5.3.2. South Africa
7.5.3.3. Others
7.6. Asia Pacific
7.6.1. Asia Pacific Mirrorless Camera Market Analysis, By Type, 2019 to 2026
7.6.2. Asia Pacific Mirrorless Camera Market Analysis, By Distribution Channel, 2019 to 2026
7.6.3. By Country
7.6.3.1. Japan
7.6.3.2. China
7.6.3.3. India
7.6.3.4. Australia
7.6.3.5. Others

8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. Company Profiles
9.1. Samsung
9.2. Sony Corporation
9.3. Canon Inc.
9.4. Nikon
9.5. Olympus Corporation
9.6. Panasonic Corporation
9.7. Fujifilm Holdings Corporation
9.8. Leica Camera
9.9. Pentax
9.10. Kodak

Iwis

Diamond By Timken

Renold

Drives

Tripcon Engineering Pvt. Ltd.

KettenWulf

SFR Chain

Conkord Engineering

Ramsey Chain

HKK Chain

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