“Chains and Sprockets Market Share: Global Industry Analysis, Market Size, Trends, Application Analysis, Growth and Forecast, 2022-2027” provides a deep and thorough evaluation of the global chains and sprockets market based on its segments including type, end use and region. The report comprises the latest trends in the industry and studies their impact on the overall market. It also evaluates the market dynamics by covering the critical demand and price indicators and analyzing the market in accordance with the SWOT and Porter’s Five Forces models.
Historical Year: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
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Chains and sprockets refer to transmission tools utilized in engines as a drive between camshafts and crankshafts. They are made with steel, cast iron, plastic, and forged chains and are highly compact, convenient to install, and can operate in high temperatures.
As a result, chains and sprockets are extensively used across various end-use industries, such as bicycles, car manufacturing, motorcycles, tracked vehicles, etc.
Note: Our analysts are continuously monitoring the influence of the COVID-19 pandemic on the market. This insightful information is included in the report to improve the efficiency, resilience and overall performance of businesses.
Global Chains and Sprockets Industry Trends and Drivers:
The growing automotive industry is primarily driving the growth of the global chains and sprockets market. Sprockets have numerous applications in bicycles, motorcycles, and other vehicles to transmit rotational motion between two shafts that are not suitable for gears.
Besides this, several product innovations, including the launch of self-lubricated chains that are durable and effective for heavy material handling operations, are positively impacting the market growth. Furthermore, consumers are widely opting for two-wheelers over four-wheelers, owing to the escalating prices of natural gas and gasoline and rising traffic congestion in metro and urban areas.
This, in turn, is bolstering the global market. In line with this, the elevating demand for sports bikes due to the increasingly fierce sports competition is acting as another major growth-inducing factor. Moreover, various other factors, including inflating incomes of individuals, and extensive R&D activities, are expected to propel the global chains and sprockets market in the coming years.
Global Chains and Sprockets Market Segmentation:
The market is segmented in on the basis of type, end use and region.
- End use
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The report also provides insights on the competitive landscape of the global chains and sprockets industry with the leading players profiled in the report.
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