Global Chain Drives Market – Introduction
Chain drives are used to transmit power to the sprockets through chains. These machine elements are also responsible for increasing torque and transmitting speed from engines to wheels with the help of looped chains. Demand for chain has been increasing in the last few years, owing to certain advantages offered by chain drives over belt drives. Unlike belt drives, chain drives do not slip, which subsequently mitigates the power loss and increases its operational efficiency. Furthermore, chain drives are more compact, easy to install, and less expensive, as compared to other drives. However, need for frequent lubrication and generation of comparatively higher levels of noise and vibration are some disadvantages that hamper its adoption. Nonetheless, extensive utilization of chain drives in heavy material handling, rigging, and operation of conveyor belts is estimated to boost its market during the forecast period.
Chain Drives Market – Competitive Landscape
Tsubakimoto Chain Co.
Tsubakimoto, a leading company based in Japan, specializes in the manufacture of varied speed drives and corresponding parts, handling equipment that are provided along with its delegated design, construction, and installation. The company also manufactures various electrical and electronic devices. Furthermore, the company also provides construction design, execution, and management services of all its produced goods.
The company was incorporated in 1941, and has its manufacturing facilities in Saitama, Kyotanabe, Nagaokakyo, Okayama, and Hyogo in Japan.
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Wippermann Group of Companies
Based in Germany, Wippermann operates through an array firms involved in manufacturing and marketing of various superior quality industrial sprockets and chains for high performance conveyor systems and drives used across diverse industries. Wippermann Jr. GmbH, Wipperman Jr. GmbH Direkt, Witra (Wipperman Jr. Gmbh Trading), Connex, and Gevag GmbH are brands owned by Wippermann Group of Companies. The company is a prominent supplier of drive components that provide maintenance-free, customizable sprockets and chains.
Regal Beloit Corporation is a global company that is currently based in Beloit, U.S. The company engages in the manufacture of electrical motion controls, electrical motors, and power transmission and generation solutions. Regal Beloit primarily operates through three key business segments: Climate Solutions, Commercial & Industrial systems, and Power Transmission Solutions. The company has sales offices located across North America, Europe, South America, and Asia Pacific.
Renold is a U.K.-based company that was established in 1864, by Hans Renold. The company manufactures a wide range of gearboxes, industrial chains, and couplings specific for the purpose of lifting, conveying, power transmission, and processing. Furthermore, Renold has operations across 20 countries globally.
Other key players operating in the global chain drives market also include The Diamond Chain Company, Rexnoed, The Timken Company, SKF, John King Chains, and Brammer.
Chain Drives Market – Dynamics
Remarkable infrastructure growth in emerging economies is offering opportunities to chain drives market
Rapid growth of infrastructure in some countries in Asia Pacific and the Middle East is expected to offer significant growth opportunities to key players operating in the market. India, China, UAE, Thailand, Malaysia, and Japan are witnessing substantial increase in development of commercial spaces and shopping malls, which have fueled the demand for high performance escalator chains. Furthermore, expansion of the manufacturing industry in APAC is also expected to offer significant opportunities to manufacturers of chain drive.
Advancements in design and manufacturing of product to drive chain drives market
Rising demand for timing chains in the automotive industry coupled with widespread availability of improvised chain lubrication products is expected to drive the chain drives market in the near future. These demands have been predominantly generated by advancements in design and manufacturing of products. The trend is also anticipated to continue to influence the market growth in the following years.
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Chain Drives Market – Segmentation
The global chain drives market can be segmented based on:
- Chain Type
Chain Drives Market Segmentation – By Chain Type
Based on chain type, the chain drives market can be classified into:
- Roller Chain
- Silent Chain
- Leaf Chain
- Others (Flat-top chain, Engineering steel chain, etc.)
Chain Drives Market Segmentation – By Application
In terms of application, the chain drives market can be divided into:
- Hosting and Hauling
- Power Transmission
Chain Drives Market Segmentation – By End-user
Based on end-user, the chain drives market can be split into:
- Food & Beverage
- Heavy Equipment Industry
- Oil & Gas
- Others (Transportation, logistics & material handling, etc.)
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