Industrial Chain Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.10 Billion |
| Market Size (2029) | USD 4.87 Billion |
| CAGR (2024 - 2029) | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Industrial Chain Market Analysis
The Industrial Chain Market size is estimated at USD 4.10 billion in 2024, and is expected to reach USD 4.87 billion by 2029, growing at a CAGR of 3.5% during the forecast period (2024-2029).
- As manufacturing industries grow to meet the increasing consumer demands, the importance of efficient and reliable industrial chains becomes paramount. These chains ensure the smooth operations of machines, boosting production capacity. The automotive industry has ramped up production with the rising demand for electric vehicles (EVs). Manufacturers, including Tesla and traditional automakers, are enhancing their production lines, heavily relying on industrial chains for both assembly and material handling.
- Owing to the adoption of automated systems in several industries, the demand for high-quality industrial chains that can endure rigorous operational challenges intensifies. Technological advancements in chain materials and design are paving the way for more efficient production processes. In the realm of consumer electronics, companies like Apple depend on automated assembly lines, underscoring the need for precise and durable industrial chains. Innovations, such as self-lubricating chains, not only cut down maintenance needs but also bolster operational efficiency.
- Since Industry 4.0 is on the rise, smart technologies are increasingly embedding themselves into the fabric of manufacturing. For instance, Siemens employs IoT-enabled chains that deliver real-time performance and wear data, facilitating predictive maintenance and significantly reducing downtime. Rapid industrial growth is evident in countries like India and Vietnam. Manufacturers in these nations are turning to industrial chains in sectors like textile production and electronics assembly, aiming to boost productivity and align with international standards.
- Investing in high-quality industrial chains, particularly those tailored for specialized applications, often comes with a hefty price tag. Such costs can pose a challenge for small and medium-sized enterprises (SMEs) contemplating an investment in advanced systems. For instance, a modest manufacturing firm might think twice before splurging on high-performance chains for its automated assembly lines, leaning toward more affordable options that might compromise efficiency and longevity.
- The ongoing Russia-Ukraine War is likely to drive up raw material prices, a consequence of sanctions and diminished availability. These heightened costs are subsequently transferred to both manufacturers and consumers. Firms dependent on Ukrainian steel or Russian raw materials could see a surge in procurement costs, thereby squeezing their profit margins.
Industrial Chain Market Trends
Roller Chain is Expected to Hold Significant Market Share
- Roller chains offer a straightforward method for transmitting mechanical energy. They consist of several cylindrical rollers linked together, constructed similarly to traditional chain link systems. The other end of the chain can be connected to a weight component. Roller chains are known for their minimal slippage and stretching even under heavy loads, and they prove to be more efficient and durable than belt drives. Roller chains boast exceptional strength and longevity due to superior heat treatments and a comprehensive 100% lubrication process.
- Roller chains are crucial in machinery and equipment, enabling power transmission across diverse sectors. As industries increasingly recognize roller chains' adaptability, there has been a surge in design and application innovations. This evolution includes the creation of specialized chains tailored for distinct environments, such as food processing and heavy machinery.
- Roller chains' resilience to heavy loads and challenging conditions minimizes operational disruptions, boosting productivity. A heightened emphasis on materials science has birthed chains that resist corrosion, wear, and fatigue. Such advancements are vital for sectors like mining and construction, where equipment endures extreme conditions. Brand Finance reported that the global brand value of the mining sector reached approximately USD 74.95 billion in 2023, marking a USD 7 billion increase from the previous year. This uptick signals a promising trajectory for the market studied.
- Regions like Asia and Europe are witnessing rapid industrialization, spurring a heightened demand for machinery and equipment and, subsequently, roller chain sales. With governments in these emerging markets channeling investments into infrastructure and industrial projects, the landscape becomes increasingly favorable for roller chain manufacturers aiming to broaden their market footprint.
North America is Expected to Hold Significant Market Share
- North America's diverse industries, starting from automotive to aerospace, are bolstered by a robust manufacturing base. This foundation fuels a steady demand for industrial chains and underscores the importance of reliability and quality. Significant players like General Motors and Boeing expand their operations, integrate advanced industrial chains into their assembly lines, and invest in cutting-edge technologies, seeking enhanced performance and durability.
- With e-commerce reshaping consumer expectations, manufacturers in the industrial chain sector are seizing the opportunity to roll out innovative solutions, enhancing the efficiency and reliability of logistics operations. This trend is especially pronounced in the United States, where the industrial chain market is witnessing significant growth, driven by the rising demands of the expanding e-commerce and logistics sectors.
- With a growing emphasis on sustainability, regional companies are increasingly seeking energy-efficient and eco-friendly industrial chains. This commitment bolsters sustainability initiatives and sparks innovation in chain manufacturing. For instance, Unilever's choice of energy-efficient chains curtails operational costs and resonates with its corporate sustainability objectives, shaping market dynamics.
- Infrastructure projects, by enhancing transportation networks, amplify the demand for industrial chains in construction and logistics. As freight rail systems expand, the need for durable chains in cargo handling grows, prompting investments in specialized chain production.
Industrial Chain Industry Overview
The industrial chain market is highly fragmented, with global and regional players operating across various segments. While several large multinational companies dominate certain high-value segments, numerous regional and niche players contribute to the overall competition, making the market highly diverse.
Leading companies in the industrial chain market include Rexnord Corporation, Wippermann, Peer Chain, MAXCO Chain Ltd, and SKF International. These companies have established strong brand recognition and extensive global operations, enabling them to command significant market share. Their strengths lie in innovation, broad product portfolios, and strong distribution networks. These leaders often engage in strategic acquisitions and partnerships to maintain their competitive edge and expand their market reach.
Companies must prioritize innovation and geographic expansion to vying for larger market share to succeed in the industrial chain market. Companies that invest in emerging markets and adapt their products to regional needs will likely gain a competitive advantage in this fragmented market.
Industrial Chain Market Leaders
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Rexnord Corporation
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Wippermann
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Peer Chain
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MAXCO Chain Ltd.
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SKF International
*Disclaimer: Major Players sorted in no particular order
Industrial Chain Market News
- July 2024: Chiaravalli Group Spa signed a distribution agreement with Wippermann jr GmbH for roller chains in the European market. This partnership allows Wippermann to enhance Chiaravalli's offerings with a broader selection of premium solutions. Chiaravalli will oversee the integration of Wippermann's roller chains catalog into its operations.
- June 2024: The Ministry of Commerce and Industry, through its Department for Promotion of Industry and Internal Trade, issued a directive concerning Precision Roller and Bush Chains, Attachments, and Associated Chains Sprockets. This new directive enforces the mandatory use of the Standard Mark on certain goods that meet Indian Standards. The directive outlines penalties for non-compliance and sets implementation dates tailored to different categories of enterprises.
- June 2024: CHAIN & Conveyor Ltd (manufacturer of Leaf Chain) partnered with Hoverdale UK Ltd to leverage its combined engineering expertise and global stockholding capabilities. This strategic collaboration aims to maximize benefits for its respective customer bases. By deploying joint engineering teams, both organizations will streamline the installation and servicing of customer assets. This partnership will enhance Chain & Conveyor’s extensive inventory of parts and ancillary components, expanding it to all Hoverdale locations both nationally and internationally.
- July 2023: TIDC India designs and supplies high-performance Leaf Chains to global Original Equipment Manufacturers (OEMs) in the Material Handling sector. These chains strictly adhere to international standards, including ANSI, BS, and DIN. TIDC India's Leaf Chains are considered to be a trusted chain in Europe and the USA. TIDC India continually enhances the performance of its leaf chains by emphasizing key design elements.
Industrial Chain Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Impact of COVID-19 Aftereffects and Other Macroeconomic Factors on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Manufacturing Industries and Increasing Usage of Industrial Chain Across the Industries
5.1.2 Increasing Technological Advancements
5.2 Market Restraint
5.2.1 High Initial Costs
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Roller Chain
6.1.2 Engineering Class Chain
6.1.3 Leaf Chain
6.1.4 Other Types
6.2 By End-user Industry
6.2.1 Automotive Manufacturing
6.2.2 Energy and Power
6.2.3 Food and Beverage
6.2.4 Building and Construction
6.2.5 Other End-user Industries
6.3 By Geography***
6.3.1 North America
6.3.2 Europe
6.3.3 Asia
6.3.4 Australia and New Zealand
6.3.5 Latin America
6.3.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Renold Jeffrey
7.1.2 Rexnord Corporation
7.1.3 Wippermann
7.1.4 Peer Chain
7.1.5 MAXCO Chain Ltd
7.1.6 Zexus Chain Co. Ltd
7.1.7 Rolcon Engineering Co. Ltd
7.1.8 SKF International
7.1.9 Katayama Chain (Changzhou) Co. Ltd
7.1.10 Tripcon Engineering Pvt. Ltd
7.1.11 MAXTOP - Ming Chang Chain
7.1.12 KOBO USA LLC
7.1.13 Hangzhou Qianjiang Chain Industries Co. Ltd
7.1.14 Shining Industrial Holding Co. Ltd
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Industrial Chain Industry Segmentation
Industrial chains serve as mechanical devices across diverse industrial applications, facilitating power transmission, material conveyance, and load support. Engineered to endure heavy loads, high speeds, and challenging operating conditions, these chains play a pivotal role in various sectors. This study monitors the revenue generated from industrial chain sales across multiple end-user industries. It examines the driving factors, restraints, growth trends, and macroeconomic influences shaping the market.
The industrial chain market is segmented by type (roller chain, engineering class chain, leaf chain, and other types), end-user industry (automotive manufacturing, energy and power, food and beverage, building and construction, and other end-user industries), and geography (North America, Europe, Asia, Australia and New Zealand, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Roller Chain | |
| Engineering Class Chain | |
| Leaf Chain | |
| Other Types |
| By End-user Industry | |
| Automotive Manufacturing | |
| Energy and Power | |
| Food and Beverage | |
| Building and Construction | |
| Other End-user Industries |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Industrial Chain Market Research FAQs
How big is the Industrial Chain Market?
The Industrial Chain Market size is expected to reach USD 4.10 billion in 2024 and grow at a CAGR of 3.5% to reach USD 4.87 billion by 2029.
What is the current Industrial Chain Market size?
In 2024, the Industrial Chain Market size is expected to reach USD 4.10 billion.
Who are the key players in Industrial Chain Market?
Rexnord Corporation, Wippermann, Peer Chain, MAXCO Chain Ltd. and SKF International are the major companies operating in the Industrial Chain Market.
Which is the fastest growing region in Industrial Chain Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Industrial Chain Market?
In 2024, the North America accounts for the largest market share in Industrial Chain Market.
What years does this Industrial Chain Market cover, and what was the market size in 2023?
In 2023, the Industrial Chain Market size was estimated at USD 3.96 billion. The report covers the Industrial Chain Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Chain Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Industrial Chain Industry Report
Statistics for the 2024 Industrial Chain market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Chain analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
