Market Overview:
CVT belt is a key component of CVT (continuously variable transmission) system. It helps in transmitting power from engine to the wheels. CVT belt market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. Steel belts are expected to dominate the global CVT belt market by type, owing to their high strength and durability as compared to other types of belts such as plastic belts. Passenger vehicles are expected to be the largest application segment for CVT belts, followed by light commercial vehicles and heavy commercial vehicles segments respectively.
Product Definition:
CVT belt is a very important component of CVT (continuously variable transmission). It transfers power from the engine to the transmission.
Steel Belt:
Steel Belts are used in Constant Velocity Tractors (CVT) to transmit the driving force from the engine to drive the vehicle. CVT’s use a continuously variable transmission, which is made up of several belts and pulleys. The number of teeth on each belt represents its speed; thus, by changing the speed of these belts it is possible to change the gear ratio and achieve higher or lower speeds respectively.
Plastic Belt:
Plastic Belt and it's usage in CVT Belt market is used to transmit the power from the engine to drive the vehicle. It is also known as a Clutch Belts or Power Steering Belts. The material of this belt depends on its application but generally it’s made up of plastic and steel wire reinforced with fiberglass or aluminum.
The size, shape, design.
Application Insights:
The passenger vehicles segment held the largest share of over 60.0% in 2017. The growth can be attributed to increasing demand for passenger vehicles with improved fuel efficiency and reduced emissions, coupled with stringent government regulations regarding reduction in vehicular pollution.
The light commercial vehicle (LCV) application segment is expected to witness significant growth over the forecast period owing to rising demand from developing countries such as India, Indonesia and others for their LCVs being equipped with aftermarket manufactured using Chinese or Japanese technology which leads to lower operating costs along with improved performance and durability of the engine. These factors are anticipated to drive product demand from LCV applications over the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% in terms of revenue and is likely to grow at a significant rate over the forecast period. This growth can be attributed to rising demand from developing countries such as India, China, Indonesia, Malaysia, Thailand etc.
The Asia Pacific automotive industry has witnessed an increasing adoption of continuously variable transmission (CVT) belts since 2010s due to their benefits such as fuel savings and reduced emissions along with improved engine efficiency compared to conventional automatic transmissions used in passenger cars & light commercial vehicles. Moreover, these belts offer high torque capacity with low speed variation which makes them suitable for heavy-duty applications including off-highway trucks & buses etc., thereby boosting product demand across this region significantly.
Growth Factors:
- Increasing demand for fuel-efficient vehicles: The global market for CVT belts is expected to grow at a CAGR of over 7% from 2016 to 2024, owing to the increasing demand for fuel-efficient vehicles. CVTs offer better fuel economy as compared to traditional automatic transmissions and this is expected to boost the growth of the CVT belt market.
- Rising popularity of hybrids and electric vehicles: The popularity of hybrids and electric vehicles is rising rapidly across the globe due to their superior performance and low emissions. This is likely to create opportunities for CVT belt manufacturers in the coming years.
- Growing automotive industry: The global automotive industry is growing at a rapid pace, thanks to rising income levels and urbanization in emerging economies such as China and India. This will lead to an increase in demand for CVT belts, thereby boosting the growth of the market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
CVT Belt Market Research Report
By Type
Steel Belt, Plastic Belt
By Application
Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
By Companies
Bosch, JATCO, GETRAG, Chongqing Tsingshan, Aisin, Zhejiang Wanliyang, Shaanxi Fast, Honda, Chery, Anhui Xingrui, Bosch, Continental
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
208
Number of Tables & Figures
146
Customization Available
Yes, the report can be customized as per your need.
Global CVT Belt Market Report Segments:
The global CVT Belt market is segmented on the basis of:
Types
Steel Belt, Plastic Belt
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bosch
- JATCO
- GETRAG
- Chongqing Tsingshan
- Aisin
- Zhejiang Wanliyang
- Shaanxi Fast
- Honda
- Chery
- Anhui Xingrui
- Bosch
- Continental
Highlights of The CVT Belt Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Steel Belt
- Plastic Belt
- By Application:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the CVT Belt Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
CVT belt is a type of drive belt that helps power the engine in a CVT transmission. It is made of synthetic materials and has several pulleys attached to it. The belt moves through the pulleys, which in turn rotate the engine.
Some of the major players in the cvt belt market are Bosch, JATCO, GETRAG, Chongqing Tsingshan, Aisin, Zhejiang Wanliyang, Shaanxi Fast, Honda, Chery, Anhui Xingrui, Bosch, Continental.
The cvt belt market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 CVT Belt Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 CVT Belt Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 CVT Belt Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the CVT Belt Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global CVT Belt Market Size & Forecast, 2020-2028
4.5.1 CVT Belt Market Size and Y-o-Y Growth
4.5.2 CVT Belt Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Steel Belt
5.2.2 Plastic Belt
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Vehicles
6.2.2 Light Commercial Vehicles
6.2.3 Heavy Commercial Vehicles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global CVT Belt Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 CVT Belt Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Steel Belt
9.6.2 Plastic Belt
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Vehicles
9.10.2 Light Commercial Vehicles
9.10.3 Heavy Commercial Vehicles
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Steel Belt
10.6.2 Plastic Belt
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Vehicles
10.10.2 Light Commercial Vehicles
10.10.3 Heavy Commercial Vehicles
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Steel Belt
11.6.2 Plastic Belt
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Vehicles
11.10.2 Light Commercial Vehicles
11.10.3 Heavy Commercial Vehicles
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Steel Belt
12.6.2 Plastic Belt
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Vehicles
12.10.2 Light Commercial Vehicles
12.10.3 Heavy Commercial Vehicles
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Steel Belt
13.6.2 Plastic Belt
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Vehicles
13.10.2 Light Commercial Vehicles
13.10.3 Heavy Commercial Vehicles
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 CVT Belt Market: Competitive Dashboard
14.2 Global CVT Belt Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bosch
14.3.2 JATCO
14.3.3 GETRAG
14.3.4 Chongqing Tsingshan
14.3.5 Aisin
14.3.6 Zhejiang Wanliyang
14.3.7 Shaanxi Fast
14.3.8 Honda
14.3.9 Chery
14.3.10 Anhui Xingrui
14.3.11 Bosch
14.3.12 Continental
