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London, United Kingdom, 2007/06/05 - New analysis from Frost & Sullivan, European Belts and Chain Drives in the Industrial Automation Sector, finds that the belts and chain drives markets in Europe earned revenues of $1058.6 million in 2006 and estimates this to reach $1100.5 in 2013.
While the European market for belt and chain drives is mature, original equipment manufacturers (OEMs) are continuing to focus on improving the design and the performance of their products. Retrofitting of parts and maintenance as well as servicing operations are likely to generate business, particularly in regions showing signs of market saturation.
New analysis from Frost & Sullivan (industrailautomation.frost.com), European Belts and Chain Drives in the Industrial Automation Sector, finds that the belts and chain drives markets in Europe earned revenues of $1058.6 million in 2006 and estimates this to reach $1100.5 in 2013.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the European Belts and Chain Drives in the Industrial Automation Sector, send an email to Joanna Lewandowska, Corporate Communications, at joanna.lewandowska[.]frost.com with your full name, company name, title, telephone number, email address, city, state, and country. We will send you the information by email upon receipt of the above information.
“The belt and chain drives market in the industrial automation sector in Europe is being driven primarily by the end users’ need for increased accuracy in motion control,” Frost & Sullivan Research Analyst Satheesh Natarajan. “In addition, retrofitting of existing units and inadequate maintenance is likely to sustain after sales market.”
End users are looking at ways to increase their manufacturing efficiency and productivity while maintaining low costs and are thus switching to synchronous belt drives. These belt drives allow better motion control and also increase productivity by synchronising different plant functions. The concept is popular in processing plants where the final product is a result of several progressive steps. A good example is the mixing of chemicals for pesticides.
In the context of retrofitting, as most of the end users do not follow the recommended operation and maintenance instructions that are provided by manufacturers, the life of belt and chain drives is reduced. Failure to keep a proper maintenance schedule is thus resulting in greater wear on the belt and chain drives. Accordingly, an increase in unit shipment and revenues is expected.
While the above trends augur well, the absence of advanced technology is affecting the market. With the market being mature, there is little potential for expansion and manufacturers are finding it difficult to increase their market share.
“Competing for the existing customer base offers the only possibility for growth, apart from the few opportunities to focus on sophisticated technology such as direct drives,” explains Natarajan. “However, manufacturers are experiencing challenges in penetrating and establishing themselves in these niche markets.”
The reduction in the price of direct drives is making the market more competitive for belt and chain drives. Moreover, the manufacturers of variable-speed drives are more affected by this restraint than those producing V-belt and flat belt drives.
European Belts and Chain Drives in the Industrial Automation Sector is part of the Power Transmission Growth Partnership Service, which also includes research on European belt and chain drive components market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.