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Timing Belt Market Poised to Grow at a CAGR of 4.4% by 2024


Infinium Global Research has added a new report on Timing Belt Market. The report presents analysis of global as well as regional markets of timing belt market over the period of 2016 to 2024. The timing belt is the belt that controls the camshafts in your engine along with opening and closing valves at just the right time for smooth operation of the car. However, the use of a timing belt as an alternative of direct gear drive allows engine designers to keep the camshaft away from the crankshaft. In modern engines, manufacturers recommend replacing the timing belt from between every 40,000 – 150,000 kilometers depending on the engine. The major advantage of using the timing belt is that the Power transmission efficiency is not lost with regular use and there is no need for lubrication as the operation of timing belt is very clean. Some cars and trucks use timing chains or gears that are more durable. However, timing belts, made of rubber compound are quieter and more efficient. They also do not need lubricants to work.



The factors such as increased preference for high mileage vehicles and increased Vehicle Parks are driving the growth of the timing belt market. Increased demand for automobiles from the emerging countries such as BRIC countries is strengthening the growth of the timing belt market. Additionally, growth in direct injection engines is likely to escalate the demand for automotive timing belts. However, demand for pure battery electric vehicles is restraining the growth of the timing belt market. Furthermore, shift from dry belt to belt in oil timing belt is anticipated to create several growth opportunities for the key players in the timing belt market over the years to come. Participation in racing events is on the rise, the market for high performance vehicle is very promising. This in turn is projected to boost the overall demand for timing belt during the forecast period. Automotive timing belt manufacturers as well as OEMs are exploring various research and development activities to intensify the durability and life of automotive timing belts.



Asia Pacific Prevailed to be the largest market for the automotive timing belts and chains due to the growing vehicle production in China followed by India. China and India are among the fastest growing markets in the world for automotive manufacturing and accessories manufacturing owing to low production costs. Increasing production of automobiles in the European region region has led to increase in demand for the automotive timing belts. Moreover, the global automobile industry has undergone several structural changes such as technological changes in the engines, electrification of automobiles, emission norms and regulations, safety and security changes, and connectivity among others. Overview of hybrid vehicles has led to substantial changes in the internal structure and functioning of the vehicles. This has resulted in the strategic developments in the global automotive market. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global timing belt market but also make strategic decisions to capture the most lucrative markets in the near future. The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.

 

Get 15% discount for early purchase of global timing belt market report by clicking the following link, Use code IGRD15 to request the discount in the given form

https://www.infiniumglobalresearch.com/reports/request-discount/1066

 

The recent report identified that Asia Pacific dominated the global timing belt market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the timing belt market worldwide.

 

The report segments the global timing belt market on the basis of Drive Type,  Vehicle Type, Hybrid Vehicle Type and Component.

 

Global Timing Belt Market by Drive Type

·          Belt-in-Oil 

·         Dry Belts 

·         Chains  

 

Global Timing Belt Market by  Vehicle Type

·         Passenger Vehicle

·         Commercial Vehicle 

 

Global Timing Belt Market by Hybrid Vehicle Type

·         Plug-in Hybrid Electric Vehicle (PHEV) 

·         Hybrid Electric Vehicle (HEV)  

 

Global Timing Belt Market by Component

·         Idler Pulleys

·         Timing Shield   

·         Tensioner   

·         Sprocket     

 

Companies Profiled in the Report

·         NTN

·           Goodyear      

·           Fenner

·          Schaeffler 

·          Tsubakimoto 

·           Continental   

·         Aisin 

·         Toyoda

·         SKF   

·         Borgwarner  

 

About Infinium Global Research

Infinium Global Research is a business intelligence company that provides its clients with market information services, solutions, and reports. The intelligence reports include qualitative as well as quantitative information, which are blended using forecasting models in order to project future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and Consultants use numerous data gathering tools in order to provide you with detailed information on the market as well as a preview of its projected growth. Our repository includes the largest and most credible databases, through which we determine various qualitative and quantitative parameters of the market to provide you with an in-depth business intelligence report.

Infinium Global Research reports and consulting services cover numerous sectors, which include healthcare, chemicals, materials, energy, packaged goods, food and beverages, technology, and communications. These reports provide readers with market insights and detailed analysis of market segments to possible micro levels. Our reports, with stratified research methodology and wider scope of analysis, provide clients with crucial insights and information to meet their every requirement.




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