Drag Chain for Machine Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Drag Chain for Machine Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Drag Chain for Machine Market

The drag chain for machine market size was valued at USD 80.36 million in 2021, and the market is now projected to grow from USD 84.34 million in 2022 to USD 148.52 million by 2029, exhibiting a CAGR of 8.4% during the forecast period of 2022-2029.

The spread of Covid-19 poses a substantial risk to the worldwide drag chain for machine industry. The severe action taken to decrease the spread of the virus has formed challenges in working circumstances for numerous of the sectors. The revenues of the makers also reduced expressively.

Rising measures to certify workstation safety, along with severe government norms to connect and regular checking of the safety of electrical constituents, are prospective to foster the industry size. Numerous types of cable trays also benefit to efficiently organize the services by lifting heavy-duty cables to deliver more space and save complete costs by prolonging the sturdiness and life of wires. Moreover, several emerging economies and many developed nations have expressively invested in expanding the chemical production and handling plants.

The growing investments in industries such as oil & gas, chemical, and power generation in the developing economies will fuel the demand for cable chains for machines. Additionally, governments are aiming on improvising industrial policies and guidelines to generate a conducive situation for exploring innovative industries and improving sustainability among contestants. Strategic investment policy priorities, entry and establishment of foreign investors, and promotion and enabling of investment policies are supportive guidelines that benefit surge industrial machinery, generating huge opportunities for the drag-chain market which surges the drag chain for machine market growth.

Comprehensive Analysis of Drag Chain for Machine Market

The market can be segmented in various ways, depending on the focus of analysis such as by type, and by application. Based on type, the market is classified into open and closed. Based on material, market is classified into plastic, steel, and others. Based on application, market is classified into CNC machine tools, glass machinery, electric machinery, and others.

North America region is dominating the drag chain for machine market share due to long-lasting occurrence in the manufacturing and industrial segment and a continuous need to upgrading the making capacities.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include HELUKABEL GmbH (Germany), Lapp Group (Germany), Murrplastik Systems, Inc. (U.S.), RR Kabel Limited (India), Arno Arnold GmbH (Germany), Brevetti Stendalto S.p.A. (Italy), Cavotec (Switzerland), igus GmbH (Germany), Dynatect Manufacturing, Inc. (U.S.), Ekd Gelenkrohr GmbH (Germany), Hennig (U.S.), LEONI Factory Automation (Germany) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In September 2021, Cavotec declared the inaugural of a new office in Malaysia to produce a robust occurrence in the neighboring Asian countries. This move by the company is projected to generate further incomes from the rising industrial installations in Asia and universally.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2018-2029

Base Year 2021

Estimated Year 2022

Forecast Period 2022-2029

Historical Period 2018-2020

Unit Value (USD million)

Segmentation By Type, By Material, By Application, and By Region

By Type Open

Closed

By Material Plastic

Steel

Others

By Application CNC Machine Tools

Glass Machinery

Electric Machinery

Others

By Geography North America (By Type, By Material, By Application, By Country)

U.S. (By Type, By Material, By Application)

Canada (By Type, By Material, By Application)

Europe (By Type, By Material, By Application, By Country)

U.K. (By Type, By Material, By Application)

Germany (By Type, By Material, By Application)

France (By Type, By Material, By Application)

Italy (By Type, By Material, By Application)

Spain (By Type, By Material, By Application)

Russia (By Type, By Material, By Application)

Netherlands (By Type, By Material, By Application)

Belgium (By Type, By Material, By Application)

Rest of Europe (By Type, By Material, By Application)

Asia Pacific (By Type, By Material, By Application, By Country)

China (By Type, By Material, By Application)

India (By Type, By Material, By Application)

Japan (By Type, By Material, By Application)

Australia (By Type, By Material, By Application)

Southeast Asia (By Type, By Material, By Application)

Rest of Asia Pacific (By Type, By Material, By Application)

Latin America (By Type, By Material, By Application, By Country)

Brazil (By Type, By Material, By Application)

Mexico (By Type, By Material, By Application)

Rest of Latin America (By Type, By Material, By Application)

The Middle East & Africa (By Type, By Material, By Application, By Country)

GCC (By Type, By Material, By Application)

South Africa (By Type, By Material, By Application)

Rest of Middle East & Africa (By Type, By Material, By Application)

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