Industry Background:
Timing belt are also known as timing chain or cambelt that usually made of polymers, rubbers and metal chains. Timing belt market is expected to mark significant growth over forecasted period owing to increased preference for high mileage vehicles and rising vehicles parking propelled the timing belt market. Timing belt allows Power transmission efficiency is not lost with regular use and there is no need for lubrication as the operation of the timing belts is very clean. The major companies are adding more proven technologies systematically and strategically in Asia-Pacific countries as these countries are focused on technological changes in the engines, emission norms and regulations, electrification of automobiles, safety and security changes and connectivity among others.
According to AMA Research, the market for Timing Belt is expected to register a CAGR of 5.8% during the forecast period to 2028. This growth is primarily driven by Increase Number of High Mileage Vehicles and Vehicle Parks Driving the Growth of Timing Belt Market.
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Auto Parts & Equipment sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as B&B Manufacturing (United States), ContiTech (Germany), The Carlstar Group (United States), Gates Corporation (United States), J.K. Fenner Limited (India), ACDelco (United States), Federal-Mogul Motorparts Corporation (United States), Bando USA (United States), Dayco (United States), Ningbo Beidi Synchronous Belt (China) and MAHLE Aftermarket (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2018, Megadyne Group announced to acquire Challenge Group. This acquisition is beneficial in providing competitive advantages in worldwide positions into the power transmission sector and to increase its market share into the various regions.
The demand for timing belts is rising as the vehicle industry in developing nations develops. Furthermore, the need for timing belts has grown over time as a result of consumers' preference for high-mileage cars.In timing belt market, it has been observed that most of the companies are innovating automation technologies with stainless steel belts that provides ideal materials choice for variety of industries. These belts are endured in extreme temperatures, heavy loads and even caustic chemicals without warping, breaking the positional accuracy.
Regulatory Insights:
“According to FDA and European regulations , its provide new BRECO protect product line that offers , offers timing belts with steel tension carriers completely embedded in polyurethane for protection against corrosion. The choice of material for the timing belts complies with FDA regulations and the blue color is consistent with current requirements in the food processing industry.”
Influencing Trend:
Growing applications of timing belts in automobile industry. and Increased demand of fiber reinforced for better longevity timing belts.
Market Growth Drivers:
Increase Number of High Mileage Vehicles and Vehicle Parks Driving the Growth of Timing Belt Market. and Rapid Demand Of Automobiles In BRIC Countries Fueled Up The Timing Belt Market.
Challenges:
Limitation on the Motion Transfer Anticipated the Challenge The Market. and Adverse Impact Due To Lower Bearing Loads and Slippage.
Restraints:
No Protection Against Overloading Hampers the Timing Belt Market., High Cost Associated with in Timing Belt Market. and The demand for pure battery electric vehicles restrains the timing belt market.
Opportunities:
Rise in Consumer Disposable and Increasing Vehicle Ownership Leads to Boost the Timing Belt Market. and Technological Advancements Such as Light Weight Components.
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Timing Belt Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Timing Belt Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Timing Belt players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Timing Belt Study Sheds Light on
The Timing Belt Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Timing Belt industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Timing Belt industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.