Timing Belt Market estimated to reach a Value of US$ 8.8 Billion by 2024 and CAGR 5.6%

Global Timing Belt Market Share, Size, Growth, Trends and Forecast Till 2024

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Report Description and Highlights

Report Description

Timing Belt Market Report By Drive Type (Dry Belts, Chain and Belt in Oil ), Component (Tensioner, Idler Pulleys, Timing Shield/Cover and Sprocket), Distribution Channel, Vehicle Type, Region Over the past few years, the global timing belt market has witnessed moderate growth. This can be accredited to the growing automotive industry along with the introduction of variants reinforced with fiberglass.

Market Overview: According to the latest report by IMARC Group, titled “Timing Belt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global timing belt market reached a value of US$ 6.3 Billion in 2018. A timing belt is a part of an engine that is used to create sync between the rotation of the crankshaft and camshaft. It aids in opening and closing engine valves during the intake and exhaust strokes of each cylinder. It is a synthetic rubber strap consisting of fiber strands that offer strength and nylon-reinforced cords that assist in extending its lifespan. It also comprises teeth on the inner surface which fit into the grooves on the end of the camshaft and crankshaft to avoid slipping. Apart from being used in automobiles, it is also employed in water and oil pumps and balance shafts.

Report Description and Highlights

Report Description Market Trends:

Rising sales of new automobiles owing to escalating global population and inflating income levels is catalyzing the demand for automotive timing belts. Moreover, these belts require frequent replacement as their expected lifespan is approximately 60,000 and 100,000 miles. Consequently, there is a proliferating demand for these belts from the replacement segment. Apart from this, manufacturers are continually investing in research and development activities in order to introduce improved variants. For instance, the newly launched timing belts come with fiber-reinforced materials containing glass-fiber which offers relatively more durability, strength and corrosion resistance. Owing to the aforementioned factors, the global market is estimated to reach a value of US$ 8.8 Billion by 2024, expanding at a CAGR of 5.6% during 2019-2024.

Timing Belt Market Segmentation: Market Segmentation by Drive Type o Dry Belts o Chain o Belt in Oil Request for a sample report: https://www.imarcgroup.com/timing-belt-market/requestsample

Market Forecast

Sample Figure: Global: Timing Belt Market Forecast: Sales Value (in Billion US$), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description

On the basis of the drive type, the market has been divided into dry belts, chains and belt in oil.

Amongst these, belt in oil type represents the most popular drive type.

Market Segmentation by Component • • • •

Tensioner Idler Pulleys Timing Shield/Cover Sprocket

Based on the component, tensioner holds the dominant market share. Other major segments include idler pulleys, timing shield/cover and sprocket.

Market Segmentation by Distribution Channel • •

OEM Aftermarket

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Market Segmentation

Report Description

Based on the distribution channel, the market has been bifurcated into OEM and aftermarket.

Presently, OEM represents the most popular distribution channel for timing belts.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

On the geographical front, the market has been classified into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Among these, Asia Pacific and North America are the major markets for these belts.

Market Segmentation by Vehicle Type • •

Passenger Vehicle Commercial Vehicle

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description

On the basis of the vehicle type, the market has been bifurcated into passenger and commercial vehicles. Currently, passenger vehicles account for the majority of the total market share.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • • • • • • • • • • •

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

Market Segmentation

Report Description •

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Report Description and Highlights

Report Description

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