About CVT Belt
CVT belt is made of various materials such as rubber, nylon, steel, Pu, thermoplastics resin & fiber, and others. Various advantages of using a CVT belt such as provides a smoother ride than an automatic transmission, better emission control, and better fuel consumption than a regular automatic transmission, improved acceleration due to the lower power loss experienced, among others. Increasing usage of CVT belt in passenger vehicles, light commercial vehicles, and heavy commercial vehicles is projected to drive the global CVT belt market over the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The global CVT belt market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. Some of the major players operating in this market are Robert Bosch (Germany) and Jatco Ltd (Japan), Getrag (Germany), Tsingshan (China), among others. Analyst at AMA Research estimates that Chinese Vendors will contribute the maximum growth to Global CVT Belt market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Robert Bosch (Germany), Jatco Ltd (Japan), Tsingshan (China), Aisin Seiki Co., Ltd. (Japan), Zhejiang Wanliyang (China), Shaanxi Fast Gear Co., Ltd. (China), Honda Motor Company, Ltd. (Japan), Chery Automobile Co., Ltd. (China) and Hyundai Mobis (South Korea) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Continental AG (Germany).
Segmentation Overview
AMA Research has segmented the market of Global CVT Belt market by Type (Push Belt CVT, Variable Diameter Elastomer Belt CVT and Others), Application (Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles) and Region.
On the basis of geography, the market of CVT 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). If we see Market by Material, the sub-segment i.e. Rubber will boost the CVT Belt market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement regarding CVT Belt
Market Growth Drivers:
Rising Demand for Eco-Friendly Vehicles and Increasing Demand from Automobiles Industry across the World
Challenges:
Problem regarding Belt-driven CVTs have a Limited Amount of Torque
Restraints:
Issue related to Transmitting Motion by Friction causes Greater Wear
Opportunities:
Growing Demand from Emerging Economics such as China, India, among others
Market Leaders and their expansionary development strategies
In September 2023, Magna International and GKN Automotive announced a partnership to develop and manufacture next-generation CVT belts for off-highway applications. The two companies will combine their expertise in powertrain systems to develop new belts that are specifically designed for the needs of off-highway vehicles.
In July 2023, Aisin Seiki Co., Ltd. acquired BorgWarner's CVT belt business. This acquisition is expected to strengthen Aisin Seiki's position in the CVT belt market and expand its reach into the North American market.
Key Target Audience
CVT Belt Manufacturers, Research and Development (R&D) Companies, Research Organization, Federal Agencies, Raw Material Suppliers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.