Large Conveyor Chain Market Size, Share, Growth, and Industry Analysis, By Grade (Belt conveyors, Roller conveyors, Motorized roller conveyors, Overhead conveyors), By Application (Automotive, Mining, Cement, Steel), and Regional Insights and Forecast to 2031

Updated On: 22 April 2024

large conveyor chain market Report Overview

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The global large conveyor chain market size was USD 492.72 million in 2021 and is expected to reach USD 724.79 million by 2027, exhibiting a CAGR of 6.64% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the large conveyor chain market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A large conveyor chain is a type of chain that is used to move various kinds of materials or products along a conveyor system. A conveyor system is a mechanical device that transports items from one place to another, usually within a factory or a warehouse. A large conveyor chain consists of several links that are connected by pins and rollers, and run over sprockets or wheels at the ends of the conveyor. The chain can have different attachments or accessories to suit different applications and environments. A large conveyor chain can handle heavy loads, high speeds, and long distances, and is suitable for industries such as automotive, mining, cement, steel, and others

COVID-19 Impact: Pandemic Increased the Market Demand Owing to Accelerated Digital Transformation

The COVID-19 pandemic has had a significant impact on the large conveyor chain market share. The pandemic has accelerated the digital transformation and innovation of the market. The market players have adopted various smart and digital technologies, such as sensors, controllers, software, and cloud platforms, to improve the efficiency and performance of their conveyor systems. These technologies also help to reduce energy consumption, maintenance costs, and environmental impacts of conveyor systems. The pandemic has increased the demand for them in some segments of the market, such as food & beverages, pharmaceuticals, and logistics.

These segments have witnessed a surge in demand for them due to the increased need for automation and goods transportation during the pandemic. The market players have also diversified their product portfolio and expanded their customer base to cater to these segments. The pandemic has stimulated the research and development activities and collaborations in the market. The market players have invested more in research and development to develop new and improved products and solutions that can meet the changing needs and requirements of the customers. The market players have also formed strategic partnerships and alliances with other players to share resources, expertise, and technologies.

Latest Trends

"Increasing Adoption of Smart and Digital Technologies is expected to Fuel the Growth in the Market"

One of the recent trends in the market is the increasing adoption of smart and digital technologies to improve the efficiency and performance of conveyor systems. The market players are integrating sensors, controllers, software, and cloud platforms to enable real-time monitoring, control, and optimization of conveyor operations. These technologies also help to reduce energy consumption, maintenance costs, and environmental impacts of conveyor systems. Another trend in the market is the growing demand for customized and flexible conveyor solutions that can cater to the specific needs and requirements of different industries and applications. The market players are offering customized large conveyor chains that can handle various types of materials, loads, speeds, and environments.

large conveyor chain market Segmentation

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• By Grade

According to type, the market can be segmented into Belt conveyors, Roller conveyors, Motorized roller conveyors, Overhead conveyors.

• By Application

Based on age, the market can be divided into Automotive, Mining, Cement, and Steel.

Driving Factors

"Rising Industrialization and Urbanization to Foster the Market Growth"

One of the major driving factors for the market is the rising industrialization and urbanization in emerging economies, such as China, India, Brazil, and South Africa. The increasing population and economic development in these countries have led to a rapid growth in various sectors, such as automotive, mining, cement, steel, and others, that require them for material handling and transportation. These sectors are expected to grow further in the future due to the rising demand for vehicles, metals, construction materials, and other products from domestic and international markets. The increasing infrastructure development and construction activities in these regions have also boosted the demand for them. These regions are undergoing massive urbanization and modernization projects that involve building roads, railways, bridges, airports, ports, power plants, and other facilities

"Growing Awareness and Adoption of Green and Sustainable Practices in Various Industries to Result in the Expansion of the Market"

The growing awareness and adoption of green and sustainable practices in various industries is one of the key factors that drives the demand for them. Many industries, such as automotive, mining, cement, steel, and others, are facing increasing pressure from governments, environmental agencies, customers, and stakeholders to reduce their greenhouse gas emissions and environmental impact. These industries use them for material handling and transportation, which consume a lot of energy and generate noise and pollution. Therefore, these industries are looking for eco-friendly and energy-efficient conveyor solutions that can help them achieve their sustainability goals and comply with the stringent regulations and standards regarding emissions, noise, safety, and quality of conveyor systems.

Restraining Factors

"High Initial Investment and Installation Costs to Hamper the Market Growth"

The large conveyor chains require a lot of space, equipment, labor, and maintenance to operate effectively. The market players also face challenges in sourcing raw materials, such as steel, iron, rubber, and plastic, due to their fluctuating prices and availability. These factors may hamper the growth of the market in some regions.

large conveyor chain market Regional Insights

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"Asia Pacific to Lead the Market Owing to Presence of a Large Number of Manufacturing Industries"

The Asia Pacific region has shown the highest large conveyor chain market growth. The presence of a large number of manufacturing industries that use large conveyor chains for material handling and transportation. China is one of the leading producers and consumers of large conveyor chains in the world due to its huge industrial base and population. India is also emerging as a key market for large conveyor chains due to its rapid economic development and industrialization.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market "

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Donghua (China)
• KOBO (Germany)
• Rexnord (U.S.)
• SKF (Sweden)
• Ketten Wulf (Germany)
• Ravi Transmission Products (India)
• DAIDO KOGYO CO. (Japan)
• Galaxy Conveyors Pvt. Ltd. (India)
• Tsubaki (Japan)
• Hangzhou Unibear Holding Group Co. Ltd. (China)
• LTD (U.K.)
• Senqcia (Japan)
• BANDO CHAIN (Japan)
• Asian Engineering Works (India)
• Renold (U.K.)
• Dongyang (South Korea)

Report Coverage

This report examines an understanding of the large conveyor chain market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.