Drag Chain for Machine Market Size, Share & COVID-19 Impact Analysis, By Type (Open, and Closed), By Material (Plastic, Steel, and Others), By Application (CNC Machine Tools, Glass Machinery, Electric Machinery, and Others), and Regional Forecast, 2022-2029

The global drag chain for machine market size was valued at USD 80.36 million in 2021. The market is 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. North America dominated the global market with a share of 29.97% in 2021.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global Market had exhibited a decline of -2.3% in 2020 as compared to 2019.

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

COVID-19 IMPACT

Discontinuation in Supply Chains amid COVID-19 Pandemic to Act Hindrances for Market Growth

COVID-19 was declared a global pandemic on March 11, 2020. As of February 6, 2022, over 392 million cases have been reported worldwide, including over 5.7 million deaths. The spread of Covid-19 poses a significant threat to the global drag chain for machine industry. The drastic action taken to reduce the spread of the virus has created challenges in working conditions for many of the sectors. The revenues of the manufacturers also reduced significantly. For instance, Cavotec generated USD 159.6 million in 2020 as compared to USD 221.6 million in the previous year. The workers are required to maintain social distancing while working in confined spaces. Also, restrictions such as travel bans, which reduce the company's working number, create uncertainty in reassuring a historically volatile industry. However, the sector is likely to display immediate revival and return to pre pandemic growth rate of around 4% to 5% in 2022.

LATEST TRENDS

Increasing Focus on Manufacturing & Processing Industries to Boost Market

The increasing investments in industries such as oil & gas, chemical, and power generation in the developing economies will fuel the demand for cable chains for machines. In addition, governments are focusing on improvising industrial policies and regulations to create a conducive environment for exploring new industries and improving sustainability amongst competitors. Strategic investment policy priorities, entry and establishment of foreign investors, and promotion and facilitation of investment policies are supportive regulations that help increase industrial machinery, creating huge opportunities for the drag-chain market.

Increasing Inclination toward Adoption of New & Enhanced Material Will Drive Market

The rising reception of new material incorporated in the manufacturing of drag cables will certainly drive the cable chain for machine infiltration. Material with good mechanical properties such as bio-oil and microbial-resistant drag cables are being utilized to resist abrasion and biofuels. They are also environmentally friendly, as they are made of recyclable materials. 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.

DRIVING FACTORS

Need for Safe Operations and Growing Application in Corrosive Environments to Boost Demand

Growing measures to ensure workplace safety, along with stringent government norms to connect and regular monitoring of the safety of electrical components, are likely to foster the industry size. Various types of cable trays also help to effectively organize the facilities by lifting heavy-duty cables to provide more space and save overall costs by extending the durability and life of wires. Furthermore, numerous emerging economies and many developed nations have significantly invested in expanding the chemical production and processing plants.

Growing Installations of CNC Machines to Augment Market Size

The growing industry demand for more efficiency in complex machining products is expected to positively impact the market. In addition, the increasing demand for high precision and reduction in operating costs and technological advances in production processes continue to influence the popularity of CNC machines.  The advantages that computer-controlled machines offer, including the ability to quickly and efficiently produce different products in one batch, are becoming increasingly popular. This growing installation of CNC machines is anticipated to drive the adoption of cable chains across all the regions during the forecast period.

RESTRAINING FACTORS

Degrading Operational Characteristics with Elevating Temperature to Limit Market Growth

The easy obtainability of various raw materials like plastic, aluminum, steel, and stainless steel to manufacture cable carriers is significant. These materials perform well at ambient temperatures (0°F to 100°F) along with certain application and strength benefits. However, once the specified rating of these materials reaches the defined temperatures, the materials start to react differently. As temperatures increases, the tensile strength of the material decreases, which leads to a decrement in strength, stiffness, and loading capacity. Plastic cable carriers reduce ductility, embrittlement, chalking, and cracking when exposed to high temperatures. Such instances restrict the growth of drag chains in the machinery market.

SEGMENTATION

By Type Analysis

Open Type Units to Dominate Market Share through 2029

The market can be majorly categorized into open and closed based on type. The open drag chains segment is projected to hold the leading position in value over the forecast period. Open cabling offers high power transmission, and the damage or fault in cables is easily locatable, facilitating ease of cable replacement. Additionally, open drag chains for machines show better penetration in developing economies due to lower costs. These key features promote the adoption of open-type cables for machines during the forecast period.

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

By Material Analysis

Plastic Segment Size to Underpin Substantial Growth over 2022-2029

The market forecast can be primarily categorized into plastic, steel, and others based on material.

The installation of plastic cable carriers is highly preferred owing to their utilization in CNC machine tools, electronic equipment, doors & windows machinery, injection molding machines, robots, and other industries. Substantially rising utilization of 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 utilized in food processing industries are anticipated to complement the plastic drag chain demand.

The steel drag chain is expected to capture a substantial growth rate owing to their utilization in high-end industries. The stainless-steel material has good wear & tear properties and can work at higher temperatures in different industries according to the need.

By Application Analysis

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

The four major segments present across this industry based on application are CNC machine tools, glass machinery, electric machinery, and others.

Encouraging directives to propel cable carriers installation across CNC machines and expansion of process and automation equipment sector underpinned by industrialization are set to favor the heavy duty CNC machine tools segment size.

A rise in the drag chain for machine market share for the glass machinery segment is expected to witness during the study period owing to the increase in the adoption of installing such chains across glass machinery applications. Also, glass machinery requires cable hose carriers to reduce wear and stress on cables and hoses, while also preventing entanglement which is anticipated to further drive the products adoption.

Drag chain for electric machinery is designed to guide and surround hydraulic or pneumatic hoses and flexible electrical cables connected to mobile automated machinery. These factors are expected to boost the prerequisite of the product in the electric machinery segment.

REGIONAL INSIGHTS

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The market has been studied geographically across five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America's market size was estimated at USD 24.09 million in 2021 and is projected to account for the major share in terms of value. A long-standing presence in the manufacturing and industrial sector and a constant need to upgrade the production capacities will favor the U.S. industry outlook. Increasing investments in the machine tool industries sector will increase the national production, growing automatic equipment and 3D printing industries, further fostering the cable carrier’s demand.

Additionally, the European market size is supported by the growing funds for installing these chains in electronic equipment, including injection molding machines, robots, overweight transportation equipment, and automated warehouses application. These wide range of applications offer valuable opportunities for the manufacturers by enhancing their market footprint and product portfolio.

China, India, Japan, and other Southeast Asian countries are projected to be the leading territories in the market in the Asia Pacific region. Rapidly migrating population towards urban localities, expanding industrial infrastructure, the introduction of new high-speed railway networks, flourishing marine sector, and investments in large hydrocarbon assets are some of the key factors augmenting the industry growth

KEY INDUSTRY PLAYERS

Igus GmbH is Focusing on Acquiring New Contracts Through its Branches to Fortify its Position

The global drag chains for the machines market are heavily fragmented, with many small and large players maintaining a competitive landscape. The manufacturers operate at local, regional, and global levels to provide cables for machines and customer services across the applications.

Igus GmbH is estimated to account for a significant market share due to its wide range of cable product offerings, i.e., cable carriers designed for utilization in CNC tools. Additionally, it offers reliable chains with anti-corrosion properties for industrial equipment. Moreover, the company’s cable carriers for machines are well-suited for local infrastructural activities across industrial parks and sub-stations. These factors, in turn, will propel the company’s growth in the market.

LIST OF KEY COMPANIES PROFILED:

• 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)

KEY INDUSTRY DEVELOPMENTS:

• October 2021 – 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 towards the long-term stabilization of the company, proving the company’s consistent efforts of continuing to implement advanced focus on the Wiring System Division.


• September 2021 – Cavotec announced the inaugural 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.

REPORT COVERAGE

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The Drag Chain for Machine Market statistics research report offers an in-depth analysis of the industry. It further details the adoption of such chains for machines systems across several regions. Information on trends, drivers, opportunities, threats, and market restraints can further help stakeholders gain valuable insights. The report offers a detailed competitive landscape by presenting information on key players and their strategies in the market.

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