Industrial Sheaves and Pulleys Market : Global Industrial Analysis and Forecast (2023-2029)

Global Industrial Sheaves and Pulleys Market was valued $ 749.6 Mn in 2022 and is expected to reach $ 1054.90 Mn by 2029, at a CAGR of 5% during the forecast period.
Industrial Sheaves and Pulleys Market Introduction
Sheaves and pulleys are wheels with a flat or grooved edge that transmits rotational force from one shaft to another when connected with a V-belt or gear belt. They are used to power fans, pumps, and conveyors. Idlers maintain consistent tension on belts to reduce slippage and move belts away from obstacles.

Industrial sheaves and pulleys are tools provided with belts that form a mechanical linkage along with cross-sections generally used in industries such as construction, manufacturing, and others. The shape of the belts differs with the type of pulley. They are used for power transmission between machines and axles. Sheaves and pulleys combined provide high-speed transmission of power.To Know About The Research Methodology :- Request Free Sample Report
Industrial Sheaves and Pulleys Market Dynamics
The high-quality industrial pulley is witnessing a surge in demand from the aerospace industry. There has been an increase in the usage of blends of resin compounds and cotton fibers to produce high-pressure laminated phenolic material to ensure uniform strength. These materials are further machined into industrial pulleys. The application of industrial sheaves and pulleys aids industries in conforming to energy-efficient norms that help in increasing their productivity. One such beneficial application of industrial sheaves and pulleys is in conveyor systems. Conveyors are prone to damages from exposure to harsh and extreme weather conditions. The damages can increase stoppage time and downtime, thereby decreasing plant productivity and increasing overall operational costs. But conveyors run smoothly with regular belt cleaning systems, belt guiding systems, and pulley lagging systems.

Technological innovations and automation are set to create huge growth opportunities for the industrial sheaves and pulleys market. 3D printing technology is one of the major trends in the industrial sheaves and pulleys market. Manufacturers, such as Stock Drive Products & Sterling The instrument has focused on manufacturing 3D printed pulleys, which consist of only a single part and do not involve any assembly parts. The one-piece pulley is made of plastic, metal, or others. Such new technologies and products can create huge growth opportunities for the industrial sheaves and pulleys market over the forecast period.
Industrial Sheaves and Pulleys Market Segment Analysis
Industrial pulley has been witnessing fast-paced developments, such as the addition of a vast variety of industrial pulley types with varying breaking load capacities. Today, industrial pulleys are available with sheave diameters ranging from 16 mm to 150 mm. Industrial pulley has also been finding increasing applications in theatrics, cable laying operations, stunt work, towing, and securing loads. These applications have also been contributing to the demand growth of industrial pulleys.

In the global Agricultural Equipment segment, USA, Canada, Japan, China, and Europe will drive the market growth. These regional markets accounting for a combined market size of US$210.5 Million in the year 2022 will reach a projected size of US$235.4 Million in the forecast period. China will remain among the fastest-growing in these regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$200.6 Million by the year 2029, while Latin America will expand at an xx% CAGR in the forecast period.
Regional Insights
Europe accounted for a major share of xx% of the Industrial sheaves and pulley market in 2022 and is likely to maintain its dominance throughout the forecast period owing to the increase in e-commerce, which has expanded the demand for material handling equipment in the region. This is expected to drive the growth of the industrial sheaves and pulleys market in Europe in the forecast period.

The market in the Asia Pacific is expected to grow significantly in the upcoming years. Growing adoption of industrial sheaves and pulleys across numerous manufacturing industries for power transmission, equipment construction, packaging and material handling applications is one of the key factors driving the demand for industrial sheaves and pulleys.
Industrial Sheaves and Pulleys Market Scope: Inquire Before Buying



Industrial Sheaves and Pulleys Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 749.6 Mn.


Forecast Period 2023 to 2029 CAGR:
5%
Market Size in 2029:
US $ 1054.9 Mn.


 Segments Covered:
by Type
Industrial Sheaves
Industrial Pulleys


by Product
V-Belt Sheaves
Timing Belt Sheaves


by Application
Agricultural Equipment
Material Handling
Industrial Machinery



Industrial Sheaves and Pulleys 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)
Key Players are:
1.AB SKF
2.Arntz Optibelt Group
3.Fenner
4.Regal Beloit Corporation
5.Timken Company
6.U.S. Tsubaki
7.DMM International
8.Brecoflex
9.Mitsuboshi Belting Ltd
10.SAR products
11.Kaman Industrial Technologies Corporation
12.PIX Transmissions Ltd
13.Tsubaki of Canada Ltd
14.Harken Industrial

Frequently Asked Questions:

1. Which region has the largest share in Global Industrial Sheaves and Pulleys Market?
Ans: Europe region held the highest share in 2022.

2. What is the growth rate of Global Industrial Sheaves and Pulleys Market?
Ans: The Global Industrial Sheaves and Pulleys Market is growing at a CAGR of 5% during forecasting period 2023-2029.

3. What is scope of the Global Industrial Sheaves and Pulleys Market report?
Ans: Global Industrial Sheaves and Pulleys Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Industrial Sheaves and Pulleys Market?
Ans: The important key players in the Global Industrial Sheaves and Pulleys Market are – AB SKF, Arntz Optibelt Group, Fenner, Regal Beloit Corporation, Timken Company, U.S. Tsubaki, DMM International, Brecoflex, Mitsuboshi Belting Ltd, SAR products, Kaman Industrial Technologies Corporation, PIX Transmissions Ltd, Tsubaki of Canada Ltd, and Harken Industrial

5. What is the study period of this Market?
Ans: The Global Industrial Sheaves and Pulleys Market is studied from 2022 to 2029.