About Drive Chains
The global Drive Chains market is expected to witness high growth in the forecasted period due to increasing the automobile industry across the world. Drive Chains is composed of the inner links and the outer links. It is also constituted by five constituents which are the inner chain plate, outer chainplates, pins, sleeves, and roller. It is generally used in the low speed and heavy duty economic power transmission apparatus. It is often used to convey power to the wheels of a vehicle, particularly bicycles and motorcycles. It is also used in a wide variety of machines besides vehicles.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 3.59% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of a competitive advantage through combined collaborations. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Drive Chains market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tsubaki (United States), Ketten Wulf (Germany), DONGHUA (United Kingdom), Zhejiang Hengjiu (China), CHALLENGE (United Kingdom), Rexnord (United States), iwis group (Germany), W.M. BERG (United States), RENOLD (United States) and Wantai chain (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Regina (Italy), Suzhou Universal Group (China) and Diamond Chain (United States).
Segmentation Overview
AMA Research has segmented the market of Global Drive Chains market by Type (Roller Chain, Detachable Chain, Pintle Chain, Silent Chain, Leaf Chain and Laminated Metal Chain), Application (Industry, Motorcycle, Agriculture and Others) and Region.
On the basis of geography, the market of Drive Chains has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Direct Sell will boost the Drive Chains market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Expansion of Automotive Industries and High Adoption for Agriculture Industry
Market Growth Drivers:
The Growing Adoption of Bicycles due to Environmental Concerns and The Increasing Demand due to Qualitative Product Offerings
Challenges:
They require frequent lubrication and maintenance to avoid failure.
Restraints:
Fluctuating Raw Material Prices and The Increasing Concern Regarding Machine Complexities
Opportunities:
The Growing Demand from Developing Countries due to Increasing Demand for Automobiles and Increasing R & D Expenditure for Product Innovations
Market Leaders and their expansionary development strategies
In April 2024, Herbalife India, a global health and wellness company and community partnered with the Indian Institute of Management Bangalore (IIMB) to establish a Supply Chain Sustainability Lab. Launched in 2023, this collaborative effort aims to advance sustainable supply chain practices, dissemination, and advocacy though research and development initiatives.
In September 2020, BMW Motorrad has announced the introduction of a new maintenance-free chain called the ‘M Endurance’ chain (image above). The motorcycle manufacturer claims that the chain neither needs tension adjustment nor lubrication. While BMW is known for its almost no maintenance shaft-driven bikes, they have decided to turn their attention to drive chains.
Key Target Audience
Drive Chains Manufactures, Drive Chains Suppliers, Drive Chains Distributors, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.