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Allied Market Research

Industrial Sheaves and Pulleys Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A10038
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Jan 2021 | 26 Views
 
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Industrial sheaves and pulleys are tools provided with belts that form a mechanical linkage along with cross-sections generally used in industries such as construction, manufacturing, and others. The shape of the belts differs with the type of pulley. They are used for power transmission between machines and axles. Sheaves and pulleys combined provide high-speed transmission of power. The belts used for power transmission are resistant to misalignment and slipping. A pulley is simply a wheel on a shaft whose main objective is to support the movement and direction alignment of the belt. A sheave is a pulley provided with a grooved wheel to hold a belt or wire. In the heavy equipment industry, sheaves and pulleys play a crucial role in lifting activities. The components of grooved wheels are used along with chains, cables, or ropes in sheaves and pulleys systems to change the amount of force to lift, lower equipment, and direction.

Market scope and structure analysis :

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD Million)

  Segments covered

  Type, End-user Industry, and Region

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

Timken Company, Tsubakimoto Chain Co., Brecoflex Co. LLC, Harken Industrial, Regal Beloit Corporation, SKF, Kaman Industrial Technologies, Mitsuboshi Belting Ltd., PIX Transmissions Ltd., and Optibelt GmbH

 

COVID-19 scenario analysis:

  • COVID-19 pandemic has shut-down the production of various products in the industrial sheaves and pulleys industry, mainly owing to prolonged lockdown in major global countries. This has hampered the growth of the industrial sheaves and pulleys market significantly from the last few months, and is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020m and is likely to cause a negative impact on the market growth over the year. 
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which have been badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

A growing need for productivity and the less overall cost are fueling the industrial sheaves and pulleys market growth. Factors, such as easy operation, minimal lubrication, simple design, and low cost, are influencing the industrial sheaves and pulleys market growth. Furthermore, increasing demand for high-speed power transmission in different industries is expected to drive the industrial sheaves and pulleys market over the forecast period. However, slow growth in the manufacturing sector will be a restraining factor for the industrial sheaves and pulleys market. New technological advancements and designs, such as smart idlers, are creating opportunities for the industrial sheaves and pulleys market.

Adoption of smart idlers

One of the major trends being witnessed in the industrial sheaves and pulleys market is the concept of smart idlers. An idler is a kind of pulley that is used for material handling, packaging, construction, and power transmission. In the material handling process, the use of idler is in the conveyor system wherein the idler supports the load carried on the conveyor belt. A sufficient number of idlers are used in the conveyor system to ensure smooth operation. Idlers help in providing low friction platforms on which conveyor belts roll. Conveyor operations are vulnerable to many disruptions; therefore, smart idlers are used as a counter for disruptions such as roller failure and others. The use of smart idlers for reducing downtime, reducing damage, and increasing the lifetime of industrial machinery is expected to boost the sales of the product which will eventually fuel the industrial sheaves and pulleys market in the coming years.

Emerging technologies to fuel the market growth

Technological innovations and automation are set to create huge growth opportunities for the industrial sheaves and pulleys market. 3D printing technology is one of the major trends in the industrial sheaves and pulleys market. The load-bearing capacity of sheaves and pulleys decreases gradually with time. Attributed to the presence of many parts that are assembled to form a power transmitting mechanism, the failure of one part can cause huge damage to the entire machinery. Prolonged use of sheaves and pulleys may lead to machinery failure due to less load-bearing capacity. Manufacturers, such as Stock Drive Products & Sterling Instrument, have focused on manufacturing 3D printed pulleys, which consist of only a single part and do not involve any assembly parts. The one-piece pulley is made of plastic, metal, or others. Such new technologies and products can create huge growth opportunities for the industrial sheaves and pulleys market over the forecast period.

 

Key segments covered:

Segments

Sub-segments

  Type

  1. Industrial Sheaves
  2. Industrial Pulleys

  End-user Industry

  1. Construction
  2. Manufacturing
  3. Marine
  4. Military
  5. Others


Key benefits of the report:

  • This study represents the analytical representation of the global industrial sheaves and pulleys market combined with the ongoing trends and future predictions to determine investment opportunities.
  • The present market is thoroughly analyzed from 2019 to 2027 to explain the global industrial sheaves and pulleys market growth.
  • The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global industrial sheaves and pulleys market.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report gives comprehensive analysis based on competitiveness and how the performance of the competitors will take shape in the coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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