Growth Market Reports just released a market analysis with the title, Global Industrial Chain Market Size, Share, Trends and Opportunity Analysis, 2023–2031, by Product Type (Roller Chains, Leaf Chains, Conveyor Chains, Others), by Application (Power Transmission, Wood Working Machinery, Agricultural Machinery, Oil Well Drilling Rigs, Material Handling Equipment, Others), by End-use Industry (Automotive, Industrial Equipment & Machinery, Energy & Power, Building & Construction, Others), and by Region”, the market was worth USD 6.0 Bn in 2022 and is anticipated to reach USD 8.18 Bn by the end of 2031, growing at a CAGR of 3.5%. The market expansion is anticipated to be aided by the increasing adoption of industrial chains in significant industrial operations including the energy & electricity, automotive, and building & construction industries.
Recent Developments:
Renold bought YUK S.A. on August 4, 2022. The businesses want to significantly outperform domestic competitors globally and increase sales of their premium conveyor chains (CVC) in Spain and Portugal. The businesses want to significantly outperform domestic competitors globally and increase sales of their premium conveyor chains (CVC) in Spain and Portugal.
Key Market Players Profiled in the Report
- Renold SKF is TSUBAKIMOTO Chain Company.
- Daido Kogyo Company, Inc.
- KTTENWULF OPERATES GmbH
- Rexnord Corporation, Regal
- jr. Wippermann GmbH
- BANDO Chain Industries, Ltd.
- Chain of PEER
- Donghua Limited YUK Ewart Agri Services Ltd.
- Chain Co. Dongyang Ltd.
- Zexus Chain Company, Ltd.
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In-depth information on new trends, market factors, expansion prospects, and market dynamics-altering constraints are covered in the study. The market segments are thoroughly examined, including kinds, applications, end-use industries, and competition analysis.
Additionally, this study thoroughly analyzes the key players in the industry, including information on recent advancements, product portfolios, pricing, mergers, acquisitions, and collaborations. Additionally, it offers essential tactics that assist industry participants in increasing their market size.
Regional Highlights:
The global industrial chain market is divided into five regions based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Due to the rising government initiatives being done to advance the various nations’ technological capacities, Asia Pacific is anticipated to have quick expansion in the global market during the projected period.
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Key Takeaways from the Study:
- Industrial chains are made from premium metals to accommodate numerous heavy-duty uses in the manufacturing, construction, and industrial industries.
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- The compact ridges coupled with durable materials that produce great load-bearing capacity are what give industrial chains their high efficiency and durability. The mechanism aids in the effective transportation of big goods by industry.
- The global increase in government investment in industrial growth and the automobile industry is causing the industrial chain market to advance quickly.
- The market’s major players are concentrating on strategic brand mergers and acquisitions designed to enhance the perception of their companies around the world.
- Due to growing demand for the product from the construction, culinary, beverage, and automotive industries, the leaf chain segment is predicted to expand dramatically.
- Due to the rising demand for crude oil and its derivatives around the world, it is predicted that the market for oil well drilling rigs would expand quickly.
- With the increase in technical breakthroughs in the industry, the automobile segment is anticipated to rise significantly.
Read 247 pages of research on the global industrial chain market by product type (roller chains, leaf chains, conveyor chains, others), application (power transmission, woodworking machinery, agricultural machinery, oil well drilling rigs, material handling equipment, others), end-use industry (automotive, industrial equipment & machinery, energy & power, building & construction, others), and region (North America, Europe, Asia Pacific). – Worldwide Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2031
Key Segments Covered
Product Type
- Roller Chains
- Leaf Chains
- Chains for conveyors
- Others
Application
- Transfer of Power
- Woodworking Equipment
- Agricultural Equipment
- Rigs for drilling oil well
- Machinery for Material Handling
- Others
End-use Industry
- Automotive Industrial Equipment & Machinery Energy & Power
- Architecture & Construction
- Others
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Market entrance strategies, market size estimates, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research, and consumer surveys are some of our major analysis segments, though they are not limited to the same.
