LONDON--(BUSINESS WIRE)--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".
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 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 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 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 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
- South America
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