Drag Chain for Machine Market – Size, Dynamics, Regional Insights and Market Segment Analysis and Forecast (2022-2029)

Drag Chain for Machine Market was valued at USD 80.35 Million in 2021, and it is expected to reach USD 153.20 Million by 2029, exhibiting a CAGR of 8.4% during the forecast period (2022-2029)

The Global Drag Chain for Machine Market is segmented by type, material and application. Based on type, the market is segmented into open and closed. Based on material, the market is segmented into plastic, steel and others. Based on application, the market is segmented into CNC machine tools, glass machinery, electric machinery and others. Based on region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and South America.To know about the Research Methodology:-Request Free Sample Report

Cable drag chains, also known as energy chains, cable carriers, or cable chains, are hollow adaptable structures used to support, guide, and safeguard cables, water-powered lines, and hoses when moving. Industry professionals use cable drag chains to prevent cables and hoses from tangling up or incurring damage during machine movement. These two issues can cause accidents and add to interruption or stoppage of work. Common applications for cable drag chains include usage in various industries, including green energy systems, process and automation equipment, port cranes, machine tools, and vehicle transporters and washing systems.

In the report, 2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029.
COVID-19 Impact on Drag Chain for Machine Market
Discontinuation in supply chains during the COVID-19 pandemic caused hindrances for the drag chain for machine market growth. COVID-19 was announced as a global pandemic on March 11, 2020. The spread of Covid-19 poses a significant threat to the global drag chain for machine industry. The extreme measure taken to decrease the spread of the virus has created challenges in working conditions for many sectors. The revenues of the manufacturers also reduced significantly.

For example, Cavotec generated USD 159.6 million in 2020 compared to USD 221.6 million in 2021. The workers were mandated to maintain social distancing while working in confined spaces. Also, restrictions such as travel bans, which reduced the company's working number, created uncertainty in reassuring a historically volatile industry. However, the sector is expected to display immediate revival and return to pre-pandemic growth rate of around 4 % to 5 % in 2022.
Drag Chain for Machine Market Dynamics
Growing Application and Safe Operations in Corrosive Environments
Increasing initiatives to assure workplace safety, along with strict government rules to connect and regular monitoring of the protection of electrical components, are expected to boost the market size. Various cable trays help to effectively manage the facilities by lifting heavy-duty cables to provide more space and save overall costs by extending the durability and life of wires. Moreover, multiple emerging economies and many developed nations have significantly invested in expanding the chemical production and processing plants.

Increasing Focus on Processing Industries & Manufacturing Expected to Boost Market

In industries such as chemical, oil & gas, and power generation, the increasing investments will fuel the demand for cable chains for machines in the developing economies. Moreover, governments are concentrating on innovating and improvising industrial regulations and policies to create a favourable environment for exploring new industries and improving sustainability among rivals. Few supportive regulations that help increase industrial machinery and create huge opportunities for the drag chain for machine market are strategic investment policy priorities, entry and establishment of foreign investors, and promotion and facilitation of investment policies.

Growing Installations of CNC Machines to Increase Market Size

The increasing demand for more competence in complex machining products is expected to impact the market positively. Furthermore, the rising demand for high reduction and precision in operating costs and technological advances in production processes continue to affect the acceptance of CNC machines. The advantages that computer-controlled machines offer are becoming increasingly popular, including the ability to quickly and efficiently produce different products in one batch. This growing installation of CNC machines is estimated to drive the adoption of cable chains across the globe during the forecast period.

Increasing Adoption of New & Enhanced Material Will Boost Market

The rising acceptance of new material included in the manufacturing of drag cables will undoubtedly drive the cable chain for machine infiltration. Material with good mechanical properties such as microbial-resistant drag cables and bio-oil are being utilized to resist biofuels and abrasion. As cable chains are made of recyclable materials, they are eco-friendly. PUR (polyurethane) cables have an operating temperature range of -20 to -80°C for flexing lines. PVC (Polyvinyl Chloride) cables operate between -10 to -80°C. They are flexible, number-coded cable chains with good oil resistance and meter marking.

Degrading Operational Characteristics with Elevating Temperature

The easy obtainability of various raw materials like steel, stainless steel, plastic, and aluminium to manufacture cable carriers is important. Along with certain application and strength benefits, these materials perform well at ambient temperatures (0 to 100℉). However, once the specified rating of these materials reaches the defined temperatures, the materials start to react differently. The tensile strength of the material decreases as the temperatures increases, which leads to a decrement in stiffness, strength, and loading capacity. Plastic cable carriers embrittlement, reduce ductility, chalking, and cracking when exposed to high temperatures. Such cases restrict the growth of drag chains in the machinery market.
Drag Chain for Machine Market Segment Analysis
Open Type Units is estimated to Dominate Market Share through 2029
On type, the market can be segmented into open and closed based. The open drag chains segment is expected to dominate in value over the forecast period. Open cabling delivers high power transmission, and the fault or damage in cables can be easily located, enabling ease of cable replacement. Also, open drag chains for machines offer better penetration in developing countries due to lower costs. These reasons encourage the adoption of open-type cables for machines during the forecast period 2022-2029.

Closed cables are gaining traction due to their application in industries such as oil & gas, power utilities, mining, and chemical. These cables avoid human accidents and protect from debris and dirt, such as metal shavings or woodchips. These key features favor the segment outlook.

Plastic Segment Size to Underpin Substantial Growth over 2022-2029

Based on material, the market forecast is segmented into steel, plastic, and others. The installation o f plastic cable carriers is highly preferred owing to their utilization in CNC electronic equipment, doors & windows machinery, machine tools, robots, injection molding machines, and other industries.
The growing demand for specialized plastic material in drag cables such as electrostatic discharging materials for sensitive electronic device manufacturing, flame retardant materials for environments with combustible materials and magnetically detectable materials whose fragments can be detected by metal sensors used in the food processing industry is expected to boost the plastic drag chain demand.

The steel drag chains is expected to rise at a rapid rate due to their utilization in high-end industries. The stainless-steel material has good wear & tear assets and can work at higher temperatures in different industries according to the need.

Due to Compact Size and Lower Noise during Operation CNC Machine Tools Segment to Dominate

Based on application, the four major segments present are CNC machine tools, glass machinery, electric machinery, and others. Encouraging directions to promote the installation of cable carriers across CNC machines, and the growth of the process and automation equipment sector, are expected to favour the heavy duty CNC machine tools segment size.

Because of the increased use of installing such chains across glass machinery applications, the drag chain for machine market share for the glass machinery sector is expected to grow during the forecast period. Additionally, glass machinery requires cable hose carriers to decrease wear and stress on cables and hoses, while also reducing entanglement, which is expected to increase product use even further. These factors are expected to boost the requirement of the product in the electric machinery segment.
Drag Chain for Machine Market Regional Insights
North America is expected to dominate the Global Drag Chain for Machine Market. North America's market size was estimated at USD 24.09 million in 2021 and is expected to account for the major share in terms of value. The United States' industry outlook will be aided by its long-standing position in the manufacturing and industrial sectors, as well as the constant need to improve production capacities. Increasing investments in the machine tool industries sector will increase the national production, growing automatic equipment and highlight 3D printing industries, which will further help to fuel cable carrier demand.
Additionally, the European market size is supported by the expanding finances for installing these chains in electronic equipment, such as injection robotics, moulding machines, automated warehousing applications, and overweight transportation equipment. These numerous applications provide manufacturers with excellent opportunities by enhancing their product portfolio and market footprint.

In the Asia Pacific region, China, India, Japan, and other Southeast Asian nations are expected to be the leading territories. Expanding industrial infrastructure, rapidly migrating population towards urban localities, flourishing marine sector, investments in large hydrocarbon assets, and the introduction of new high-speed railway networks are some of the significant factors increasing the growth of Drag Chain for Machine Market.

Competitive Landscape of Drag Chain for Machine Market

Cavotec announced the inauguration of a new office in Malaysia to create a sturdier presence in the neighboring Asian countries. This move by the company is anticipated to generate additional revenues from the growing industrial installations in Asia and worldwide.

Igus GmbH is focusing on acquiring new contracts through its branches to strengthen its position. The global drag chains market for machines is highly fragmented, with many small and big manufacturers vying for market share. The manufacturers operate at global, regional, and local levels to provide cables for machines and customer services across the applications.

Igus GmbH is expected to have a considerable market share due to its wide variety of cable product offerings, such as cable carriers developed for use in CNC equipment. It also provides industrial equipment with dependable chains with anti-corrosion qualities. Furthermore, the company's machine cable carriers are ideal for local infrastructural operations in industrial parks and substations. As a result of these factors, the company's market growth will accelerate.

Leoni Factory Automation announced that the company sold most of its industrial business to strategic investor BizLink Holding Inc. This step marks an important milestone on Leoni's path toward long-term stabilization, proving its consistent efforts continuing to implement advanced focus on the Wiring System Division.
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Global Drag Chain for Machine Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 80.35 Mn.


Forecast Period 2022 to 2029 CAGR:
8.4%
Market Size in 2029:
US $ 153.20 Mn.


 Segments Covered:
by Type
• Open
• Closed


by Materials
• Steel
• Plastic
• Others


by Application
• CNC Machines Tools
• Glass Machinery
• Electric Machinery
• Others



Drag Chain for Machine Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Drag Chain for Machine Market, Key Players are:
• igus GmbH (Germany)
• Murrplastik Systems, Inc. (U.S.)
• HELUKABEL GmbH (Germany)
• Brevetti Stendalto S.p.A. (Italy)
• Lapp Group (Germany)
• Hennig (U.S.)
• RR Kabel Limited (India)
• Arno Arnold GmbH (Germany)
• Cavotec (Switzerland)
• Ekd Gelenkrohr GmbH (Germany)
• Dynatect Manufacturing, Inc. (U.S.)
• LEONI Factory Automation (Germany)

Frequently Asked Questions:

1] What segments are covered in the Global Drag Chain for Machine Market report?
Ans. The segments covered in the Drag Chain for Machine Market report are based on Type, Material and Application.

2] Which region is expected to hold the highest share in the Global Drag Chain for Machine Market?
Ans. The North America region is expected to hold the highest share in the Drag Chain for Machine Market.

3] What is the market size of the Global Drag Chain for Machine Market by 2029?
Ans. The market size of the Drag Chain for Machine Market by 2029 is expected to reach USD 153.20 Mn.

4] What is the forecast period for the Global Drag Chain for Machine Market?
Ans. The forecast period for the Drag Chain for Machine Market is 2022-2029.

5] What was the market size of the Global Drag Chain for Machine Market in 2021?
Ans. The market size of the Drag Chain for Machine Market in 2021 was valued at USD 80.35 Mn.