Global Machinery and automotive sprockets Market is expected to reach US$ XX Mn by 2026 from US$ XX Mn in 2019 at a CAGR of 3.8% during the forecast period.
Global Machinery and Automotive Sprockets Market Overview
Machinery and automotive sprockets used in the transmission of rotary motion between two shafts, are made of cast iron and other cost-effective material.
The report aims to provide an overview ofthe Global Machinery and AutomotiveSprocket Market with a detailed market segmentation by type, application, end use industries and geography. The global motorcycle chain sprocket market is expected to witness high growth during the forecast period.
Global Machinery and Automotive Sprockets Market Dynamics
Growing adoption of automotive sprockets in automotive industry across the world:
The rising adoption of automotive sprockets due to increasing sales of automobiles across the world is one of the major factors driving the machinery and automotive sprockets market.
Rising population worldwide and large dependency on automobiles is expected to accelerate the growth of the machinery and automotive sprockets market over the forecast period.
Addition to this, rising traffic congestion in developed and developing countries is expected to enhance the demand for the production of motorcycles worldwide. This in turn will fuel the growth of the machinery and automotive sprocket market over the coming years.
Restraints of Global Machinery and Automotive Sprocket Market:
Increase in air contamination and tailpipe emission caused by automobiles is a factor hampering the growth of the machinery and automotive sprockets market.
Also, governments of developed and developing countries are aggressively endorsing electric vehicles for transportation, which in turn can hinder the demand for machinery and automotive sprockets across the world.
Global Machinery and Automotive Sprockets Market Segmentation
Global Machinery and Automotive Sprockets Market, by Product Type:
Sprockets, used to transmit rotary motion between two shafts or to impart linear motion to a track, find application in bicycles, motorcycles, tracked vehicles and other machinery. Sprockets are also increasingly used in machine tools or material handling equipment for mining and construction industries due to high-load capacity, low vibrations, and providing noiseless operations in industries. Sprockets are generally made from non-corrosive and robust materials which ensure a long product life even in harsh industrial environment which in turn increase their demand and favor major growth of the global sprockets market.
Asia Pacific is expected to contribute major revenue growth of the sprockets market owing to rapid industrial growth and increasing motorcycle production. Rising utilization of sprockets in various industries including oil & gas, food & beverages, and mining industries is expected to drive the market growth in the Asia Pacific region. Further, increasing servicing and replacement activities for material handling equipment is likely to propel the growth of sprockets market.
Global Machinery and Automotive Sprockets Market, by Application:
Machinery and automotive sprockets are important in automotive manufacturing to manufacture tracked vehicles, cars, bicycles, motorcycles, and other automotive products. Automotive sprockets are helpful in facilitating the linear motion of automobiles. Moreover, machinery and automotive sprockets have components made of non – corrosive and robust material, so as to ensure long life to automobiles even in harsh industrial environments.
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Global Machinery and Automotive Sprockets Market, by Industry:
• Mining • Construction industry • Automotive • Electronics • Aerospace and defense • Metal fabrication industry
Global Machinery and Automotive Sprockets Market Regional Analysis
Regional Insights
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Asia Pacific is a leading consumer of machinery and automotive sprockets, followed by Europe and North America. India and China are key markets of the Asia Pacific region due to rising purchasing power of consumers for automobiles in the region.
Asia Pacific is seeing continued urbanization owing to increase in population and growing automotive, transportation, and construction industries. This in turn is expected to fuel the machinery and automotive sprockets market over the forecast period. The machinery and automotive sprocket market in Middle East & Africa is projected to expand at a rapid pace. Owing to, increase in investments in automotive and construction sector in Middle East & Africa region.
At the same time, Asia-Pacific, occupied 48.07% sales market share in 2016 is remarkable in the global Sprocket industry because of their market share and low cost of raw material and labor.
Global Machinery and Automotive Sprockets Market
Global Machinery and Automotive Sprockets Market Scope: Inquire before buying
Global Machinery and Automotive Sprockets Market1
Key Players Operating in the Global Machinery and Automotive Sprockets Market
• Rolcon Engineering Co. Ltd. • KettenWulfBetriebs GmbH • J R Engineers • LG Balakrishnan& Bros Ltd. • Omax Autos Ltd. • Felix Enterprises Pvt Ltd. • Tsubakimoto Chain Co. • Martin Sprocket & Gear • Rexnord Corporation
• Sintercom India Limited
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