What is Power Transmission Belts Market Scope?
Power transmission belts also named as drive belts, gear belts, or automotive belts, transmit power between two components, such as from a motor or driver to a drive shaft or pulley. Round belts are mostly used in bending drives, line shaft conveyors, and commercial sewing machines. Connectors are used to join two ends of a round belt that has been cut to size or needs to be connected without disassembling the drive system.
Influencing Trend:
Technological Advancement in Power Transmission Belt
Market Growth Drivers:
Increasing Demand from Automotive Industry and Rising Use of Fiber-Reinforced Materials in Automotive Timing Belts
Challenges:
Damaged Sprockets Can Burn the Belt Material
Restraints:
Power Transfer Capacity Is Comparatively Less
Opportunities:
Infrastructure Development in Emerging Economies
The Power Transmission Belts market study is being classified by Type (Flat Belts, V Belts, Round Belts, Timing/Toothed Belts and Others), by Application and major geographies with country level break-up.
Analysts at AMA predicts that Vendors from German will contribute to the maximum growth of Global Power Transmission Belts market throughout the predicted period.
Forbo (Germany), Habasit (Switzerland), Fenner Drives (United States), DRB (South Korea), ISC Companies (United States), Gates Corporation (United States), The Timken Company (United States), ContiTech AG (Germany), Volta Belting Technology (Netherlands), SKF Group (Sweden) and Optibelt GmbH (Germany) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Power Transmission Belts market by Type, Application and Region.
On the basis of geography, the market of Power Transmission Belts 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).
Market Influencers and their Development Strategies
On November 1, 2019 - The Timken Company, a global leader in engineered bearings and power transmission products, has completed its previously announced acquisition of BEKA Lubrication (BEKA), a leading global supplier of automatic lubrication systems. This acquisition positions Timken as the world's second largest producer of industrial automatic lubrication systemsi, which extend equipment life and improve reliability over manual lubrication methods, reduce the environmental impact caused by over-lubricating and lower total costs for equipment and machine owners. and On October 31, 2019 - SKF has completed the previously announced acquisition of Presenso Ltd. Presenso is a company that develops and deploys artificial intelligence (AI)-based predictive maintenance software.
On October 14, 2019 - Optibelt Material Handling has expanded its in-house production for the product groups optibelt ALPHA LINEAR and ALPHA V as well as ALPHA FLEX. They are now able to produce endless PU timing belts with sections T20, HTD5M and H with a highly flexible steel tension cord, as well as section H with a stainless steel tension cord.
Key Target Audience
Manufacturers of Power Transmission Belt, Suppliers of Power Transmission Belt, Wholesalers, Distributors and Retailers of Power Transmission Belt, Oil & Gas Industry, Paper & Printing industry and Regulatory Bodies
Power Transmission Belts Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (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 |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Power Transmission Belts Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Power Transmission Belts industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.