Global Industrial Chain Drives Market 2020-2024 | Evolving Opportunities with Michelin Group and Regal Beloit Corporation | Technavio

Technavio has announced its latest market research report titled global industrial chain drives market 2020-2024 (Graphic: Business Wire)

LONDON--()--The industrial chain drives market is poised to grow by USD 753.18 million during 2020-2024, progressing at a CAGR of over 3% during the forecast period. Request free sample pages

Read the 120-page report with TOC on "Industrial Chain Drives Market Analysis Report by End-user (Industrial sector and Agricultural sector), by Geographic segmentation (North America, APAC, Europe, South America and MEA), and the Segment Forecasts, 2020-2024".

https://www.technavio.com/report/industrial-chain-drives-market-industry-analysis

The market is driven by the increasing adoption of customized industrial chains. In addition, the growing use of stainless-steel inverted tooth chains is anticipated to boost the growth of the industrial chain drives market.

Some of the key vendors in the global market, such as The Diamond Chain and pure regional players are involved in the manufacture of customized industrial chains. Customized designs of industrial chain drives cater to the needs of end-users by offering them precision and durability. It enables customization in specifications such as chain type, material, measurement, and attachments, and more. Such designs are associated with minimum wear and slippage. Thus, the increasing adoption of customized industrial chains is expected to drive market growth during the forecast period.

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Major Five Industrial Chain Drives Market Companies:

Michelin Group

Michelin Group operates the business under various segments such as Automotive and related distribution, Road transportation and related distribution, and Speciality businesses and related distribution. The company offers roller chains and sprockets.

Regal Beloit Corporation

Regal Beloit Corporation offers products through the following business units: Chain and Torque Transmission. The company offers Roller Chain Sprockets, Leaf Chain, Inverted Tooth Chain Drives, and Roller Chain.

Renold plc

Renold plc operates under various business segments, namely Chain and Torque Transmission. The company offers inverted tooth chains, transmission chains, conveyor chains, leaf chains, and cycle chains.

Rexnord Corporation

Rexnord Corporation offers products through the following business segments: Process & Motion Control and Water Management. The company offers roller chain, leaf chain, oilfield roller chain, engineered steel chain, welded steel chain, block roller chain, cast chain, and drop forged chain.

SKF

SKF offers products through the following business segments: Industrial and Automotive. The company offers SKF transmission chain and sprockets through the Chain Drives segment.

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Industrial Chain Drives Market End-user Outlook (Revenue, USD Million, 2020-2024)

  • Industrial sector
  • Agricultural sector

Industrial Chain Drives Market Geographic Outlook (Revenue, USD Million, 2020-2024)

  • North America
  • APAC
  • Europe
  • South America
  • MEA

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UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com

Release Summary

The industrial chain drives market is poised to grow by USD 753.18 million during 2020-2024, progressing at a CAGR of over 3%.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com