The global conveyor sprockets market is likely to exhibit at a CAGR of 3.3% through the period of assessment 2020 to 2030. Industrial automation has egressed as a flourishing domain, providing automation machinery to various end-use sectors, comprising food & beverages, electronics, and automotive.
Furthermore, technology integration with material handling systems is offset to emerge as the worldwide trend in conveyor systems. However, conveyor sprockets demand will be impacted all through 2020, due to the stoppage of manufacturing during the COVID-19 outbreak.
“Conveyor sprockets demand will be impacted all through 2020, due to the stoppage of production amid the crisis. However, growing demand for industrial automation solutions will impel the market growth over the assessment period,” says the Fact.MR analyst.
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Conveyor Sprockets Market – Key Takeaways
Conveyor Sprockets Market – Driving Factors
Conveyor Sprockets Market – Constraints
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Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 pandemic has impacted the conveyor sprockets market. Manufacturing plants have halted their warehouse automation and nationwide lockdowns are enforced to contain the spread of the virus.
Although, Fact.MR’s recently published report estimates that the conveyor sprockets market trends are likely to begin exhibiting optimistic signals towards 2020 end, due to an assuring outlook from e-Commerce as well as projects growth in distribution and warehouse activities.
Leading players identified in the conveyor sprockets market include Tsubakimoto Chain Co., Rexnord Corporation, FB Ketju, Senqcia Corporation, KettenWulf Betriebs GmbH, Allied-Locke Industries, Regal Beloit Americas, Inc., Martin Sprocket & Gear, Inc., and Renold PLC. Players are focusing on building up new products to maintain their market share.
For instance, US Tsubakimoto Power Transmission launched pre-set up torque regulator sprockets. End-use sectors could set up the torque limit, set the fully-assembled unit to the shaft, and go ahead with operations.
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More on the Report
The market research report provides in-depth insights into the conveyor sprockets market. The market is scrutinized on the basis of product (roller chain sprockets, drum sprockets, single & double pitch sprockets, idler sprockets, steel split sprockets and others), material (cast iron, plastics, stainless steel and others), and end-use (packaging & warehouse distribution, construction & mining, textiles & paper, consumer electronics, automotive & transportation, chemicals & pharmaceuticals and food & beverages) across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
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