Latest News- Industrial Chain Market: Roller chains is expected to lead the Type segment during 2025-2029

The Industrial Chain Market is being driven by Rising industrialization and urbanization

The Industrial Chain Market is expected to grow at a CAGR of 4.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 970 million. The industrial chain market is experiencing noteworthy progression, driven by groundbreaking product launches from key players. On September 17, 2024, Tsubakimoto Chain Co. announced the introduction of the Epsilon Chain Stainless Steel Series, featuring the world's smallest roller chain with a pitch measurement of 1.905 mm. Set for official unveiling on October 1, 2024, this game-changing chain is meticulously designed to deliver dependable power transmission in confined spaces. Anticipated to boost efficiency in medical devices, healthcare equipment, and industrial robots, the Epsilon Chain supersedes conventional belts and wires. By offering more precise, efficient, and compact power transmission, this innovation significantly reduces labor requirements and enhances energy efficiency in manufacturing processes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Roller chains
  • Leaf chains
  • Others
• End-user
  • Automotive
  • Food and beverage
  • Agriculture
  • Mining and construction
  • Oil and gas
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising industrialization and urbanization
• Infrastructure development investments in emerging economies
• Growth of e-commerce and logistics sector

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in raw material prices
• Strict regulatory compliance requirements
• Growing shift from chain drives to belt drives

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Market Scope in Industrial Chain Market Research Report

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Research Analysis Overview

The industrial chain market encompasses various sectors including consumer goods, mining, agricultural equipment, construction, and more. Key components include lightweight materials, electric vehicles (EVs), roller chains, leaf chains, and chain drives. Material handling tools such as conveyors and sorting systems are also integral. E-commerce and cargo transportation are growing markets. Industrial chain drives are essential for power transmission in upstream, midstream, and downstream processes. Outdated machinery in industries like mining and construction can be updated with cost-efficient materials and automation. Raw materials and finished products flow through this intricate chain, with transportation playing a crucial role. Cheap raw materials are a significant factor in the market's growth.

Market Research Overview

The global industrial machinery and supplies and components market encompasses businesses involved in the production of machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and metal fabrications. According to Technavio, market size is determined by the consolidated revenue generated by manufacturers supplying equipment for industrial applications. Factors driving growth in this sector include expanding industrial production in process and discrete industries, necessitating capacity enhancements in sectors such as energy, chemicals and petrochemicals, pulp and paper, and processed food and beverages, primarily in developing economies. Additionally, the increasing demand for lightweight materials, agricultural equipment, mining machinery, and electric vehicles (EVs) will contribute to market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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