Latest News- Round Link Chains Market: Alloy steel is expected to lead the Type segment during 2025-2029

The Round Link Chains Market is being driven by Expansion in trade activities

The Round Link Chains Market is expected to grow at a CAGR of 5.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 218.9 million. The global round link chains market is witnessing robust growth, primarily driven by the expanding renewable energy sector. In 2023, there was a remarkable surge in global renewable capacity additions, with approximately 510 GW added, marking a 50% increase from the previous year. This growth was predominantly fueled by the Chinese solar photovoltaic (PV) market. Round link chains are indispensable components in various applications within the energy sector, making this expansion a significant catalyst for market demand. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Alloy steel
  • Stainless steel
  • Carbon steel
• End-user
  • Construction
  • Mining
  • Oil and gas
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • South America
    • Brazil
  • 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: 

• Expansion in trade activities
• Increase in infrastructure development
• Industrial development

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

• Volatility in prices of steel
• Environmental regulations and sustainability concerns
• High manufacturing cost

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Market Scope in Round Link Chains Market Research Report

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Research Analysis Overview

The Round Link Chains Market encompasses a range of applications including Mining, Cement, and Glass industries. It offers Detachable and High-strength link chains made of High-strength steel and Corrosion-resistant materials. Automation and Precision engineering ensure durability. Security applications utilize Steel wires, Diamond, and advanced coatings like Vinyl and Galvanized steel. Smart technologies and Aluminum link chains cater to Construction and Marine sectors. Perimeter security solutions provide Corrosion resistance and Deterrent features. Installation services are available for various link chain types.

Market Research Overview

The Round Link Chains Market is a segment of the larger Industrial Machinery and Supplies and Components Market. This market encompasses businesses involved in the production of machinery and components, including Detachable Link Chains, used in various industries such as Mining, Cement, Glass, and others. The Industrial Machinery and Supplies and Components Market's size is determined by the consolidated revenue generated by manufacturers of machinery and components utilized in industrial settings. The market's expansion will be fueled by the increasing industrial output in process and discrete industries, driven by the growing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in developing countries. High-strength link chains are essential components in several industrial applications, making them a significant contributor to the market's growth.. 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/