China Industrial Chain Industry Market Development Forecast
According to the China Industrial Chain Market Forecast and Strategic Research Report (2021 Edition) published by Limu Information Consulting, industrial chains offer several advantages, including precise transmission ratios, high transmission efficiency, large load-bearing capacity, strong adaptability, and low maintenance costs with minimal difficulty.
These advantages have led to their widespread application in various industries, including motorcycles, automobiles, ships, agricultural machinery, construction machinery, lifting and transportation machinery, logistics and warehousing, escalators, food and pharmaceutical machinery, light industry machinery, and petrochemicals. The latest Industrial Structure Adjustment Guidance Catalog issued by the National Development and Reform Commission encourages the development of chains for automotive powertrains, construction machinery, and large agricultural machinery.
Countries like the United States and Japan have developed leading enterprises in the industrial chain sector over many years. Notable companies such as BorgWarner in the U.S. and Tsubaki in Japan have reached annual sales revenues exceeding 10 billion RMB. These companies, with their historical foundation and scale advantages. Offering a broad range of products and have established strong brand advantages in the industry.
China’s Industrial Chain Industry Growth
From 1990 to 2000, the Chinese industrial chain industry became a rising star in the global chain transmission market. The country experienced rapid growth in product innovation, variety, quantity, and quality, and gradually expanded into the international market. By competing alongside global industry leaders, China has secured a significant position in the global chain transmission sector. In the 21st century, Chinese companies in the chain transmission industry have focused on developing customized chains, such as industrial chains and non-standard chains, driving product transformation and upgrading. This has helped Chinese chains expand even further into international markets.
Currently, China’s industrial chain market is valued at over 200 billion RMB annually, accounting for over 60% of the global market. The country has firmly established itself as a major global player in the industrial chain sector.
Market Performance and Growth
The following data shows the growth of China’s industrial chain production in recent years:
- 2016: China produced 866,000 tons of industrial chains, a 13.9% year-on-year growth.
- 2017: Production increased to 972,000 tons, a 12.2% year-on-year growth.
- 2018: Production reached 1.077 million tons, a 10.9% year-on-year growth.
- 2019: Production further rose to 1.211 million tons, a 12.4% year-on-year growth.
- 2020: Production surged to 1.4 million tons, with a 15.6% year-on-year growth.
Future Focus and Development
Looking ahead to 2025, the Chinese industrial chain industry is expected to continue its rapid growth, with an emphasis on the following areas:
- Development of Special-Specification Chains: This includes chains for engineering machinery, transmission and conveying chains, stainless steel chains, and other market-specific products.
- Precision Chains for Automotive Timing Applications: High-precision chains, particularly those used in automotive timing systems, will be a key development focus.
- Improvement of Conventional Motorcycle Chains: Efforts will be made to enhance the quality and performance of standard chains. Such as motorcycle chains, to meet international standards.
The industry’s strategy will be focused on product innovation, quality improvement. And market expansion, aiming to elevate the global competitive position of Chinese industrial chain products.
Conclusion
By 2025, China is expected to continue strengthening its position as a global powerhouse in the industrial chain sector. With significant advancements in product variety, quality, and technological development. The Chinese market is set to remain the largest in the world. And the country’s industrial chain industry will be pivotal in meeting the evolving demands of both domestic and international markets. Particularly in the fields of automotive, engineering machinery, and large-scale agricultural equipment.