What is Toothed Belt Market?
Toothed belts are the flexible belts with teeth at the inner surface. These are driven by crank shaft and controls the precision combustion process in the engine. It controls the camshaft that has to be opened and closed at the correct time. In addition, to this toothed belts are used for driving injection pumps, water pumps and other mechanical devices where high power transmission is required. Moreover, it vital getting from A to B with toothed belt functioning correctly.
The market study is being classified by Type (Trapezoidal, Flat, Ribbed and Round), by Application (Power transmission, Conveyors, Pulley and Others) and major geographies with country level break-up.
Caterpillar (United States), Bando (United States), Optibelt (United States), Contitech (Germany), Dayco (United States), Sumitomo (Japan), Bosch (Germany), Gates (United States), Hwaseung R&A (South Korea) and Hitachi Metals (Japan) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Yokohama Rubber (Japan), Bridgestone (Japan) and Mitsuboshi (Japan).
Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Toothed Belt market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Toothed Belt market by Type, Application and Region.
On the basis of geography, the market of Toothed Belt has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Sales of Automobiles are propelling the Market Growth.
- Wide Range of Application of Toothed Belts
Restraints
- Fluctuating Raw Material Prices
Opportunities
- Growth in Direct Injection Engines
- Technological Advancements are increasing the Market Growth
Challenges
- Increasing Popularity of Electric Vehicles
Market Leaders and some development strategies
In December 2019, Contitech has acquired CRP’s belt kits program. This acquisition includes import and domestic continental automotive multi v belts accessory drive kits and v belts and others.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations