Timing Belt Market To Reach US$ 8.80 Billion by 2027 | CAGR of 5.0%

SHERIDAN, WY, UNITED STATES, October 20, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Timing Belt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global timing belt market size reached a value of US$ 6.51 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.80 Billion by 2027, exhibiting at a CAGR of 5.0% during 2022-2027. A timing belt, alternatively referred to as cambelt, represent rubber belts that are designed to synchronize the rotation between the crankshaft and the camshaft. In terms of the drive type, they can be categorized into dry belts, chains, belts in oil, etc. These timing belt variants are composed of several components, including tensioner, idler pulleys, timing shield or cover, sprocket, etc., and ensure the engine valves open and close at an appropriate time for a smooth driving experience. They even prove highly effective in operating some additional equipment, such as oil pumps, water pumps, balance shafts, etc. Consequently, timing belt products are extensively integrated in passenger and commercial vehicles.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.

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Global Timing Belt Market Trends:

The escalating demand from the OEM segment, on account of the expanding automobile industry, is primarily driving the timing belt market. In addition to this, the elevating requirement from the replacement market across countries is also positively influencing the market growth. Apart from this, the rising focus among the leading players on technological modernization to design new belts that are smaller, lighter, and noise-efficient as compared to their conventional counterparts is acting as another significant growth-inducing factor. Moreover, the introduction of innovative fuel-saving technologies, owing to the implementation of stringent regulations by government bodies to prevent excessive tailpipe emissions, is further catalyzing the global market. Besides this, the growing sales of high-performance vehicles, which include sports utility vehicles (SUVs), monster trucks, dirt bikes, sprint cars, touring cars, etc., integrated with interference engines is expected to propel the timing belt market over the forecasted period.

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Global Timing Belt Market 2022-2027 Analysis and Segmentation:

Competitive Landscape with Key Players:

• B&B Manufacturing
• ContiTech
• The Carlstar Group
• Gates Corporation
• K. Fenner Limited
• ACDelco
• Federal-Mogul Motorparts Corporation
• Bando USA
• Dayco
• Ningbo Beidi Synchronous Belt
• Goodyear SKF
• Ningbo Fulong Synchronous Belt
• MAHLE Aftermarket
• Tsubaki

Breakup by Drive Type:

• Dry Belts
• Chain
• Belt in Oil

Breakup by Component:

• Tensioner
• Idler Pulleys
• Timing Shield/Cover
• Sprocket

Breakup by Distribution Channel:

• OEM
• Aftermarket

Breakup by Vehicle Type:

• Passenger Vehicle
• Commercial Vehicle

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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