LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global industrial chain drivers market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global industrial chain drivers market will grow at a CAGR of above 3% during the forecast period. The growing end-user investments in APAC is a major factor driving the market’s growth.
Due to the growing investments in the end-user industries, the demand for industrial chain drivers market in APAC has increased. Factors that support the high growth potential of industrial chain drive manufacturers in Asia are the availability of low-cost raw-materials, easy availability of labor resources, advantageous demographic conditions, high demand for industrial products, and low manufacturing costs. Asia has encouraged end-user companies from developed region invest in new projects, which will provide ample opportunities for the adoption of industrial chain drives, apart from the advantage of low manufacturing costs.
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Rise in mergers and acquisitions: a key trend in the market
M&A and market alliances between vendors will provide considerable market growth momentum for industrial chain drives during the forecast period. Through more investments in new avenues to sustain a competitive advantage over the other key industrial chain manufacturers, chain and sprocket manufacturers are trying to expand their businesses in developing regions. The aim is to enhance revenue growth and provide advanced chain drives in the market. To explore indigenous markets, some international vendors are establishing strategic alliances and partnerships with local vendors. With the aim of expanding their business in these foreign markets and establishing a global presence, many chain drive players in APAC, especially in China, are being acquired by European and North American manufacturers.
“In the market, large vendors are acquiring smaller and local vendors. To reinforce their presence in the global industrial chain drives market, players such as TSUBAKIMOTO CHAIN are acquiring or making new contracts. During the forecast period, successful acquisitions by key players in the market are likely to increase and strengthen market growth. For commercial positioning of the vendor and to enhance its sales, M&As will provide an effective platform,” says a senior analyst at Technavio for research on automation.
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Global industrial chain drivers market segmentation
This market research report segments the global industrial chain drivers market into the following two major end-users (industrial sector and agricultural sector) and three major regions (Americas, APAC, and EMEA).
Oil and gas, chemical and petrochemical, food and beverage, and metals and mining covers the industrial sector. The agricultural sector covers the mobile and non-mobile machinery used in agricultural applications.
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