Global Chains and Sprockets Market in Material Handling Equipment Gaining Significant Growth at a CAGR of 3.52% till 2022

Market Research Hub (MRH) has freshly announced the addition of a new study to its wide database, which offers a holistic outlook on the chains and sprockets market covering market trends, factors along with industry growth prospects from 2012 to 2018, and forecast to 2022. The study is titled as “Global Chains and Sprockets Market in Material Handling Equipment 2018-2022” in which data has been included from the input of industry experts. Company background and performance are also highlighted, enabling readers to comprehend the growth aspects of various companies that are mentioned in the study.

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Geographically, the regional outlook offered in the report offers analysis and insights on the markets in Americas, Asia Pacific, and Middle East & Africa (MEA). In these regions, the research highlights current and forecast demand for chains and sprockets market in material handling equipment for the period 2018 to 2022. In order to calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. As per the study key findings, the global chains and sprockets market in material handling equipment anticipated to grow at a CAGR of 3.52% during the period 2018-2022.

Major Insights from the study

In the initial section, the report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered in the scope of the study. In addition, the report provides intelligence on the drivers, restraints, opportunities and major threats influencing the growth of the chains and sprockets market.

In general, a chain and sprocket drive is one way of conveying power to the wheels of a vehicle. Chains are used for carrying out basic functions, such as power transmission and conveying materials, within industries. They are used across different end-user industries according to the type of processes adopted to ensure optimum productivity. On the other hand, sprockets are wheels with teeth around the outer edge, with the help of which they get attached to chains easily.

According to the report, the advantages of chains and sprockets such as superior durability in extreme conditions, low vibration, high-load capacity, and provision of noise-free operations in industries, induce manufacturers to use these products in material handling equipment, propelling the market’s growth.

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For a clear understanding, the market has been segmented on the basis of product type, and end user. From a geographical standpoint, analysts find that the increased utilization of chains and sprockets in the food and beverage, oil and gas, and mining industries will drive the market’s growth in the APAC region speedily. On the basis of product type, during 2017, the chains segment accounted for the major share of the chains and sprockets market in material equipment and also expected to remain as well.

The study also offers a broad scrutiny of the prominent players and important strategies devised by the companies to succeed in this market. Some of the major companies profiled in the study include Regal Beloit, TSUBAKIMOTO CHAIN, Rexnord, Timken and Renold.

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This release was published on openPR.