Global Belt Drives Market Overview:
A belt drive is a power transmission device which is wound around a pair of pulley so as to transmit power between two or more rotating shafts. Compared to other power transmitting devices, belt drives are more preferred in the mechanical industry due to easy installation, numerous speed ratio selections, less power loss, and comparatively low price. It also protects the rotating machinery from overload fluctuations by absorbing all shocks and vibrations. The belt drive does not need lubrication and thus requires less maintenance. In the coming year’s developing countries such as India, South Africa, and China will see more demand for belt drives owing to growing industrialization and growth in oil refineries and the mining sector. Some of the players profiled in the study are RPM Nigeria Limited (Nigeria), Arntz Optibelt GmbH (Germany), Megadyne Belt Corporation (Italy), Dayco Products LLC (United States), Hutchinson Belt Drive Systems (Germany), Desch Antriebstechnik GmbH (Germany), Schaeffler Technologies AG & Co. KG (Germany), Federal-Mogul Co. (United States), Belt Technologies Inc. (United States) and Gates Corporation (United States).
On the basis of geography, the market of Belt Drives 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 Belt Material, the sub-segment i.e. Leather Belt will boost the Belt Drives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Belt Drives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Increase in Manufacturing Factories, and Innovation in Material Equipment Handling Across the Globe
- Less Maintenance and Cost-effective Solutions
- Improvement in Demand for Conveyor Equipment, Construction Equipment, and Heavy Industrial Equipment
Influencing Trend
- Belts with Carbon Tensile Members, and Heavy-Duty Timing Belts
Restraints
- Limited Speed per Second Compared To Other Mode Power Transmission
- Fluctuation in Raw Material Cost and Short Life Service
Opportunities
- The uptick in Automotive, Industrial and Mining Applications
- Growing Focus of Manufacturing Plants on Enhancing Energy Efficiency
- Strong Demand for Continuously Variable Transmission (CVT) Technology
- Mechanization of Agriculture, and Strong Demand for Combines and Harvesters
Challenges
- Adoption of Electrical Motors and Drives in Industrial Application
- Slip and Creep in Belt
- Premature Belt Failure owing to Misalignment
Key Market Developments:
On October 09, 2020, Italy’s Megadyne, a manufacturer of PU industrial belts, has acquired SATI SpA, components for power transmission system manufacturers.
On December 02, 2020, Goodyear Belts, a licensee collaboration between Adventry and The Goodyear Tire & Rubber Company, has launched a new line of power transmission belts targeting the demands of multiple markets globally.
Target Audience:
Belt Drives Manufacturers, Raw Material Suppliers, Distributors/Traders/Wholesalers/Retailers, End-Use Industries and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Belt Drives market on the basis of product [Flat Belt, V Belt, Circular Belt and Timing Belt] , application [Industrial Machinery, Automobiles, Agriculture, Oil Refineries and Mining Industry], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Belt Drives market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Belt Drives industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are The Goodyear Tire & Rubber Company (United States), Reynold Plc (United Kingdom), Ino Industrial Belting Co. Ltd. (China), SKF (Sweden), JK Fenner (India) and ContiTech (Germany).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Belt Drives market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. 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, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.