Industrial Roller Chain Drives Market Research, 2031
The global industrial roller chain drives market size was valued at $2.81 billion in 2021, and is projected to reach $4.08 billion by 2031, growing at a CAGR of 3.6% from 2022 to 2031. Industrial roller chain drive is a mechanism used for transferring mechanical power from one component or machinery to another. It includes a sprocket, which drives a roller chain by engaging its tooth between the gap of two consecutive rollers. Thus, when sprocket rotates, it transfers its energy to the chain that is connected to a driven sprocket on the other machine; thereby, transferring mechanical power.
Roller chain drives are widely used for mechanical power transmission in various industries and machineries, owing to its advantages, such as high efficiency in power transmission, high power to weight ratio, and smaller footprint. Moreover, it is inexpensive and easy to maintain. Such advantages of industrial roller chain drives are anticipated to drive their demand during the forecast period.
Manufacturing sector is witnessing a rise, owing to rise in demand for consumer and industrial products, such as consumer durables, packaging media, and metals. This is attributable to rise in disposable income of people in general. Since, the manufacturing industry utilizes industrial roller chain drives for mechanical power transmission, rise in demand for its products is anticipated to drive demand for industrial roller chains during the forecast period. Furthermore, owing to rise in population, demand for energy and minerals is growing rapidly. This is a major factor that drives growth of the mining industry. Machineries in the mining industry are major users of industrial roller chain drives. Thus, increase in demand in the mining industry is expected to fuel growth of the industrial roller chain drive market. Moreover, owing to rapid rise in population, demand for food and other agricultural products is rising; thereby driving demand for agricultural machineries. Agricultural machineries being the major users of industrial roller chain drives propel their, which is projected to drive growth of the industrial roller chain drives industry.
Key market players in the industrial roller chain drive market offer a wide range of offerings to cater to all types of needs from their customers. iwis, a global provider of industrial machineries and components offers a wide range of industrial roller chain drives such as standard roller chains, double pitch roller chains, side bow chains, roller chains with vulcanized elastomer profiles. Furthermore, Renold plc, a manufacturer of industrial machineries and components offers industrial roller chains that are termed as low maintenance chains, abrasion resistant chains, and corrosion resistant chains.
Novel coronavirus had rapidly spread across various countries and regions, causing an enormous impact on lives of people and overall community. It began as a human health condition and later became a significant threat to global trade, economy, and finance. The COVID-19 pandemic had halted production of many components of industrial roller chain drives. The economic slowdown initially resulted in downturn of manufacturing and mining industries. However, owing to introduction of various vaccines, severity of the COVID-19 pandemic has significantly reduced. As of mid-2022, the number of COVID-19 cases have diminished significantly. This has led to full-fledged reopening of industrial roller chain drives manufacturing companies at their full-scale capacities. Furthermore, it has been more than two years since the outbreak of this pandemic and many companies have already shown notable signs of recovery.
Furthermore, introduction of various government initiatives to support growth of small-scale industries in emerging economies is expected to provide lucrative opportunities for the industrial roller chain drives market growth.
The industrial roller chain drives market is segmented into Type, Application and End User Industry. By type, the market is categorized into single-strand chain, double-pitch chain, multi-strand chain, and others. On the basis of application, it is categorized into power transmission, conveyor, and hoisting & hauling. On the basis of end user, it is categorized into manufacturing, mining, material handling, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia Pacific dominated the market in 2021, accounting for the largest industrial roller chain drives market share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to availability of a large manufacturing industry in the region.
Key companies profiled in the industrial roller chain drives market forecast report include AB SKF, Allied-Locke Industries, Diamond Chain Company Inc., Ewart Agri Services Ltd., iwis, HKK Chain Corporation John King Chains Ltd., KettenWulf Betriebs GmbH, Martin Sprocket & Gear Inc, Peer chain, Ramsey Products Corporation, Regal Rexnord Corporation, Renold plc, Rubix,, Tripcon Engineering Pvt. Ltd., Tsubakimoto Chain Co., and Wippermann Jr. GmbH.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the industrial roller chain drives market outlook, current trends, estimations, and dynamics of the industrial roller chain drives market analysis from 2021 to 2031 to identify the prevailing industrial roller chain drives market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the industrial roller chain drives market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industrial roller chain drives market trends, key players, market segments, application areas, and market growth strategies.
Industrial Roller Chain Drives Market Report Highlights
By End User Industry
Key Market Players
Wippermann junior GmbH, Renold plc, rubix, Ewart Chain Ltd., AB SKF, Allied-Locke Industries, Regal Rexnord Corporation, Martin Sprocket & Gear Inc, Ramsey Products Corporation, Diamond Chain Company Inc., Peer Chain, John Kings Chains, iwis, Tripcon Engineering Pvt. Ltd., Tsubakimoto Chain Co., KettenWulf Betriebs GmbH, HKK Chain Corporation
The industrial roller chain drive market has witnessed significant growth in past few years, owing to surge in manufacturing sector and mining industry.
Rise in demand for manufactured products across the world, especially in developed and developing countries such as the U.S., Germany, India, and China has led to growth of the manufacturing sector; which propels demand for industrial roller chain drives. Furthermore, increase in population fuels demand for energy; thereby, driving growth of the mining industry. This trend is more profound in countries witnessing high population growth, such as India and China. Mining industry being a major user of industrial roller chain drives is anticipated to drive growth of the industrial roller chain drives market.
Moreover, various government initiatives to support the manufacturing sector, especially the small-scale manufacturing sector is anticipated to provide lucrative growth opportunities for the industrial roller chain drives market