Market Overview:
The global timing belt drives market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for automotive and industrial applications, and the growing trend of miniaturization in various industries. Steel timing belt drives are expected to dominate the market in terms of volume, while aluminum timing belt drives are projected to witness high growth during the forecast period. Asia Pacific is expected to be the fastest-growing region for timing belt drives during 2018-2030 owing to rising demand from automotive and industrial sectors in countries such as China and India.
Product Definition:
A timing belt drive is a type of belt drive that uses a toothed timing belt to transmit power from one shaft to another. The teeth on the belt ensure precise synchronization of the two shafts, making it ideal for applications where precise timing is critical, such as in engines and transmissions. Timing belts are also less prone to wear and tear than traditional chains, making them a more reliable option in many applications.
Steel:
Steel is a alloy of iron and carbon. It has various properties such as ductility, malleability, hardness, and strength which make it suitable for manufacturing various components used in the automotive industry. The demand for steel in the automotive industry is expected to witness significant growth over the forecast period owing to its increasing use in vehicle manufacturing.
The global Timing Belt Drives market size was valued at USD 1.22 billion in 2016.
Aluminum:
Aluminum is a lightweight, strong, and durable metal that is extensively used in the automotive industry. It can be alloyed with other metals to produce stronger material. The properties of aluminum make it an ideal material for use in timing belts and drives as well as the related components.
The global market for timing belt drives & aluminum has been witnessing significant growth over the past few years on account of increasing demand from various end-use industries including automotive & transportation.
Application Insights:
Automotive was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The growing importance of these products in automotive manufacturing as a result of their ability to reduce engine noise, increase fuel efficiency, and reduce emissions coupled with increasing demand for electric vehicles is expected to drive the industry growth over the forecast period.
The industrial segment accounted for a significant share in 2017 owing to rising demand from manufacturing sectors such as oil & gas, chemical, cement among others. Timing belts are used across multiple applications including heavy machinery (bulldozers), compressors/turbines (aircraft engines), boilers (steel mills) among others which require high precision and durability.
Other applications include marine diesel engines, natural gas turbines power generation equipment etc., where timing belt drives provide smooth rotational speed variation with minimal acceleration or deceleration forces thus improving overall performance of equipment without adding additional components or moving parts which increases reliability & lifespan significantly.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to rising product demand in developing countries such as China, India, and Japan. In addition, increasing production of vehicles coupled with stringent regulations regarding fuel emissions in these countries is anticipated to drive the product demand further. For instance, Government of India has imposed norms for gm/km ratio for automobiles which will boost automotive production and thus TIM Belt Drives Market in APAC region over the forecast period.
Europe was estimated as a major market with more than 30% share of global revenue in 2017 owing to high demand from industrial applications including food processing plants and chemical industries along with automobiles industry across various regions including Germany, U.K.
Growth Factors:
- Increasing demand for miniaturization in various industries
- Growing trend of electric vehicles and hybrid vehicles
- Rising need for fuel-efficient and low-emission engines
- Proliferation of advanced manufacturing technologies
- Growing popularity of beltless drives
Scope Of The Report
Report Attributes
Report Details
Report Title
Timing Belt Drives Market Research Report
By Type
Steel, Aluminum, Plastic
By Application
Automotive, Industrial, Others
By Companies
Altra Industrial Motion Corp, Pfeifer Industries, Gates Corporation, Lampin Corporation, Bando, SDP/SI, Octaforce, Optibelt, Nuova Trasmissione, Belt Technologies, Sati Spa, YQ
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
190
Number of Tables & Figures
133
Customization Available
Yes, the report can be customized as per your need.
Global Timing Belt Drives Market Report Segments:
The global Timing Belt Drives market is segmented on the basis of:
Types
Steel, Aluminum, Plastic
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
Automotive, Industrial, Others
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:
- Altra Industrial Motion Corp
- Pfeifer Industries
- Gates Corporation
- Lampin Corporation
- Bando
- SDP/SI
- Octaforce
- Optibelt
- Nuova Trasmissione
- Belt Technologies
- Sati Spa
- YQ
Highlights of The Timing Belt Drives 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
- Aluminum
- Plastic
- By Application:
- Automotive
- Industrial
- Others
- 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 Timing Belt Drives 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
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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?
Timing belt drives are a type of internal combustion engine that use a belt to transfer power from the engine to the drive shaft. The timing belt is made up of several rubber or metal strips that run around the circumference of the drive shaft. The belts tensioned by pulleys on either side of the engine block ensure proper timing and prevent power loss.
Some of the key players operating in the timing belt drives market are Altra Industrial Motion Corp, Pfeifer Industries, Gates Corporation, Lampin Corporation, Bando, SDP/SI, Octaforce, Optibelt, Nuova Trasmissione, Belt Technologies, Sati Spa, YQ.
The timing belt drives 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 Timing Belt Drives 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 Timing Belt Drives Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Timing Belt Drives 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 Timing Belt Drives 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 Timing Belt Drives Market Size & Forecast, 2018-2028 4.5.1 Timing Belt Drives Market Size and Y-o-Y Growth 4.5.2 Timing Belt Drives Market Absolute $ Opportunity
Chapter 5 Global Timing Belt Drives 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 Timing Belt Drives Market Size Forecast by Type
5.2.1 Steel
5.2.2 Aluminum
5.2.3 Plastic
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Timing Belt Drives 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 Timing Belt Drives Market Size Forecast by Applications
6.2.1 Automotive
6.2.2 Industrial
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Timing Belt Drives 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 Timing Belt Drives 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 Timing Belt Drives Analysis and Forecast
9.1 Introduction
9.2 North America Timing Belt Drives 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 Timing Belt Drives Market Size Forecast by Type
9.6.1 Steel
9.6.2 Aluminum
9.6.3 Plastic
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 Timing Belt Drives Market Size Forecast by Applications
9.10.1 Automotive
9.10.2 Industrial
9.10.3 Others
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 Timing Belt Drives Analysis and Forecast
10.1 Introduction
10.2 Europe Timing Belt Drives 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 Timing Belt Drives Market Size Forecast by Type
10.6.1 Steel
10.6.2 Aluminum
10.6.3 Plastic
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 Timing Belt Drives Market Size Forecast by Applications
10.10.1 Automotive
10.10.2 Industrial
10.10.3 Others
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 Timing Belt Drives Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Timing Belt Drives 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 Timing Belt Drives Market Size Forecast by Type
11.6.1 Steel
11.6.2 Aluminum
11.6.3 Plastic
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 Timing Belt Drives Market Size Forecast by Applications
11.10.1 Automotive
11.10.2 Industrial
11.10.3 Others
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 Timing Belt Drives Analysis and Forecast
12.1 Introduction
12.2 Latin America Timing Belt Drives 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 Timing Belt Drives Market Size Forecast by Type
12.6.1 Steel
12.6.2 Aluminum
12.6.3 Plastic
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 Timing Belt Drives Market Size Forecast by Applications
12.10.1 Automotive
12.10.2 Industrial
12.10.3 Others
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) Timing Belt Drives Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Timing Belt Drives 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) Timing Belt Drives Market Size Forecast by Type
13.6.1 Steel
13.6.2 Aluminum
13.6.3 Plastic
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) Timing Belt Drives Market Size Forecast by Applications
13.10.1 Automotive
13.10.2 Industrial
13.10.3 Others
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 Timing Belt Drives Market: Competitive Dashboard
14.2 Global Timing Belt Drives Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Altra Industrial Motion Corp
14.3.2 Pfeifer Industries
14.3.3 Gates Corporation
14.3.4 Lampin Corporation
14.3.5 Bando
14.3.6 SDP/SI
14.3.7 Octaforce
14.3.8 Optibelt
14.3.9 Nuova Trasmissione
14.3.10 Belt Technologies
14.3.11 Sati Spa
14.3.12 YQ