A recent report published by Infinium Global Research on industrial V-belt market provides in-depth analysis of segments and sub-segments in the global as well as regional industrial V-belt market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional industrial V-belt market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global industrial V-belt market. According to the report, the global industrial V-belt market is projected to grow at a CAGR of 4.1% over the forecast period of 2019-2025.
Industrial V-belt is transmissions belts used to transmit mechanical power efficiently between different parts of a machine. The power is transmitted from one pulley to the other by means of the friction between the belt and pulley. V-belts are available in a variety of standard size. They are easily installed and removed and required low maintenance. Rubber is used as the base material for industrial V-belt. Industrial V-bels belts are widely used in various industries such as food and beverages, metals and mining, agriculture, power, and energy, automotive and many others.
The growth of industrial V-belt the market has driven due to growth in end-user industries. Industrial V-belt is helping transportation of goods, raw materials, or other consumables from one point to another point within the locality of the site. Moreover, V-belts also helps in protecting and controlling the entire process of manufacturing, distribution, and transportation. Furthermore, increasing usage of V-belts for spooling machines in the textile industry also augments the growth of the market. However, the availability of substitutes could be restraining the growth of industrial V-belt market. Going further, increasing adoption of automation in industrial sector creating growth opportunities for the Industrial V-belt market in the coming years.
Geographically, the global Industrial V-belt market is segmented into North America, Europe, Asia Pacific, and RoW. The Asia Pacific region is expected to hold maximum share in the global industrial V-belt market due to growth in oil refineries and mining sector. Countries such as India, China are responsible for the high growth of the industrial V-belts market in the Asia Pacific region. The growth in food and beverages, construction and automotive industries also escalates the growth of the market. North America and Europe are anticipated to hold moderate CAGR during the forecast period owing to growing manufacturing industries.
The report on global industrial V-belt market covers segments such as end use industries. On the basis of end use industries, the sub-markets include food and beverages, metals and mining, agriculture, power and energy, automotive, and other end use industries.
The report provides profiles of the companies in the market such as Montana International, Industrial belts corporation, Gates Corporation, Dayco IP Holdings, LLC, Fenner (India) Limited, ContiTech AG, Optibelt, Belt Technologies, Inc., Volta Belting Technology Ltd., and Mitsuboshi Belting Ltd.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of industrial V-belt market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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