Lewes, DE -- (SBWIRE) -- 05/30/2016 -- Report forecast the global chain drives market to grow at a CAGR of 3.02% during the period 2016-2020.

Motors and turbines consume energy to generate rotational mechanical motion in industrial facilities. Chain drives and sprockets among other tools are used to transmit this motion to various components of the machines and machinery. Chain drives comprise chain links, which are connected to each other through toothed sprockets. Such drives perform useful industrial functions such as transmitting power, conveying materials, and synchronizing machinery movements.

The report covers the present scenario and the growth prospects of the global chain drives market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of chain drives, maintenance, and services for calculating market value in the above-mentioned end-user segments.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, a key growth driver for the chain drives market is the growing demand from APAC. The demand for chain drives in APAC has increased due to the manufacturing facilities that require them. Continuous availability of raw materials, a large labor pool, favorable demographic conditions, high demand for industrial products, and low manufacturing costs have led major discrete and process industries to set up manufacturing facilities in countries such as China, India, Indonesia, Thailand, Philippines and Taiwan. There is a significant demand for belt and chain drives in these countries, which has prompted many vendors in the Americas and EMEA to set up manufacturing facilities in APAC.

Further, the report states that one challenge that could restrict market growth is the slowdown in major economies of the world.

Global Chain Drives Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global chain drives market: Chiaravalli Group, Renold, Rexnord, Timken, and Tsubakimoto Chain.

Other Prominent Vendors in the market are: Brammer, Diamond Chain, Ewart Chain, FB Ketjutekniikka, John King Chains, KettenWulf, Ramsey Chain, Rockman Industries, Rombo Chain, TIDC India, US Tsubaki, Webster Industries, and Wippermann.

Market driver
- Growing demand from APAC
- For a full, detailed list, view our report

Market challenge
- Slowdown in major economies
- For a full, detailed list, view our report

Market trend
- Increased focus on innovation through R&D
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 87 pages and 35 Exhibit "Global Chain Drives Market 2015 - 2019" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by end-users, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key takeaways, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-chain-drives-market-2015-2019

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