Timing Belt Market Will Generate New Growth Opportunities in the Next Upcoming Years,2019-2026

Global Timing Belt Market 2019–2026 Trends & Forecast Report, Consistent with our stated policy of making available the best research and analysis report.

The timing belt market was valued US $6,594.0 Mn in the year 2018 and is expected to reach US $10,100.7 Mn by 2026, growing with a CAGR of 5.6% during the forecast period. A timing belt is a ribbed belt that runs across a series of pulleys and has belt tensioners that are used to keep the proper tension on the belt. The main advantage of using timing belts is that with regular use, the power transmission efficiency is not lost, and it does not require lubrication, as the operation of the timing belt is clean.

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Fiber-reinforced materials increase the lifespan of a timing belt and the use of these materials is increasing in the industrial sector. This is expected to fuel the industrial timing belt market during the forecast period. Industrial timing belt manufacturers are undertaking various R&D activities to increase the durability and lifespan of industrial timing belts.

The key players in the timing belt market are JK Fenner Ltd., Gates Corporation, NingBo Fulong Synchronous Belt Co., Ltd., ACDelco, B&B MANUFACTURING, Continental AG, SKF, Bando USA Inc., AISIN SEIKI Co., Ltd., Dayco IP Holdings, LLC and others.

Timing belt Market Segment by Reinforcement Type like Rubber, Polyurethane (PU), Kevlar, Steel, Polyester, Fiberglass, Other and by Component Type like Tensioner, Idler Pulleys, Timing Shield/Cover, Sprocket.

Timing belts offer several advantages such as accuracy, smooth operation, non-dusting performance, no slip synchronization, and low maintenance. Timing belts work efficiently and are considered to be durable. However, they wear out faster and last for 60,000 to 100,000 miles. Therefore, customers often prefer timing chains, as they have a longer lifespan compared to timing belts. They can last 150,000 to 200,000 miles.

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Growth in the automotive sector in developing regions is resulting in a rise in demand for timing belts. Further, the preference for high mileage vehicles among consumers is also resulting in the rise in demand for timing belts over the years. However, the presence of substitute products such as timing chain is restraining the overall timing belt market.

The demand for timing belts in Asia-Pacific is derived from the rising demand for passenger vehicles. The production of passenger vehicles in this region is nearly 44 million (as per the record of OICA), which is approximately 60% of the global passenger car production. The availability of cheap labor and adoption of emerging technologies for motor vehicle production are driving the demand for timing belts in the Asia-Pacific region.

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PREMIUM MARKET INSIGHTS REPORT includes
1 Timing Belt Market in Developed Vs. Developing Economies, 2018 vs 2023
2 Global Timing Belt Market: Regional Life Cycle Analysis
3 Timing Belt Raw Material Analysis
4 Price Trend Analysis, by Region
5 Incremental Opportunity Analysis, by Industry Vertical
6 Incremental Opportunity Analysis, by Country

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