Automotive Timing Belt Market Share

Automotive Timing Belt Market Overview

The automotive timings belt market size is expected to worth USD 5900 Million by 2030. During the ongoing forecast period of 2022-2030, the global automotive timing belt market is expected to rise at a CAGR of 5.2%. There has been a substantial rise in the demand and production of vehicle production followed by an increase in the rising degree of adoption of direct injections. These factors are likely to help the market with a positive impact and expand by the end of the forecast period of 2030.

Market Dynamics

Drivers

One of the major factors that will drive the growth for the market during the ongoing forecast period and help in improving the recovery speed of the market post the pandemic is that new and variant products are on the way. The market products have features like being weight resistant and free from any kind of corrosion. This has a major role to play in escalating the lifespan of the products offered by the market to the target audience. This is likely to give a higher degree of importance to the production quantum of the automotive timing belts. All these factors are likely to push the market towards positive growth by the end of the forecast period in 2030. 

Restraints

But, there are restrictions on the way of the global growth of the market as well. One of the major issues that are being faced by the market is the variation in disposable income which hampers the purchasing power of the target audience. The subsequent result of this is that there is a decline in the probable market demand that will impact the ability of the market to maintain equilibrium amongst the demand and supply.

Technology Analysis

The automotive timing belt market trends show that the manufacturers and the OEMs are on the way to exploring various research and development activities. These activities are being undertaken to intensify the degree of durability and life span of these belts since they have been put to use. The new products that are being introduced are made up of fiber-reinforced materials. These materials are inclusive of glass fiber that is known to have a greater strength-to-weight ratio. This fact is likely to target similar needs of the target audience and hence, has positive attributes in store for the market during the forecast period that ends in 2030.

Study Objectives

• The market report aims to highlight the important factors and scenarios prevailing worldwide that will help in stimulating the market growth during the forecast period. Also, to understand the dynamic market factors like drivers and opportunities that will help the market and the possible restraints that might challenge the market working during the forecast period that will be ending in 2030.


• The market report helps in gaining meaningful market insights that help in understanding the basis of the global market segmentation that will help in catering to the rising needs of the target audience during the period. Also, the market segments will help in increasing the market’s chances of reaching the predicted market revenue by the end of the period.


• To understand the reason behind the rising market competition and the efforts of the market like mergers and acquisitions, collaborations, and joint ventures along with the recent developments that will help the market attain excellent growth during both the regional and the international market scale during the forecast period that will end in 2028.

Segment Overview

The automotive timing belt market value is expected to rise during the forecast period that ends in 2030 is because of the growing productivity of the market segments in the global market scenario. The market has been segmented based on the following factors:

Based on the drive type

The driver-type segment includes dry belts, belt-in-oil, and chains.

Based on the ICE vehicle

The market segment includes commercial and passenger vehicles.

Based on the hybrid vehicle type

The global market deals in functions like hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV).

Based on the market components

The market is inclusive of components like a sprocket, idler pulleys, timing shields and covers, and tensioners amongst others.

Based on the geographical regions

The market has been divided into 4 major mushrooming regions across the globe. The regions are APAC, the North American region, the European nations, and the rest of the world (RoW).

Regional Analysis

The automotive timings belt industry is witnessing huge competition and the APAC region is acing this degree. There has been a huge rise in the population of the APAC region followed by an increase in the rising consumer disposable income followed by vehicle ownership. There has been a high degree of production and adoption of HEVs which is leading the development of this segment in the region.

Also, the North American region is showing signs of great improvement during the forecast period. The high vehicle parc and average miles that have been driven by the vehicles are likely to have positive attributes for the market in the North American region. Mexico and Canada have the highest contributions that amount to 9% and 5.6%.

Competitive Landscape

The rising degree of competition can be understood by having an idea about the prominent market players. The key players for automotive timing belt market are as follows:

• B&B Manufacturing


• Ningbo Fulong Synchronous Belt


• ContiTech


• MAHLE Aftermarket


• Federal-Mogul Motorparts Corporation


• Bando USA


• The Carlstar Group


• Ningbo Beidi Synchronous Belt


• Gates Corporation


• K. Fenner Limited


• ACDelco


• Dayco


• Goodyear SKF


• Tsubaki

Recent Developments

Intended Audience

• Automotive associations and organizations


• Timing belt kit distributors and manufacturers


• Timing chain manufacturers


• Tensioner pulley and idler pulley manufacturers


• OEMs


• Timing belt kits raw material suppliers


• OES and independent aftermarket suppliers

Report Overview

The report aims to have a basic understanding of the prevailing trends in the market. The report highlights the attractiveness of the multiple market segments in the forecast period that will help in enhancing the demand degree of the market during the period. The report features both a qualitative and quantitative assessment and judgment of the available data for the market that has been put forward by the market leaders and industry analysts. Also, the technical analysis is covered that will help the market focus on its research and development goals.