Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Narrow V Belts Market by Type (3V, 5V, 8V, SPZ, SPA, SPB, SPC), By Application (Agriculture, Industrial, Automotive, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Narrow V Belts Market by Type (3V, 5V, 8V, SPZ, SPA, SPB, SPC), By Application (Agriculture, Industrial, Automotive, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 131252 3300 Machinery & Equipment 377 237 Pages 4.5 (48)

Market Overview:

The global narrow V belts 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 agricultural equipment, industrial machinery, and automotive components worldwide. Additionally, the growing trend of miniaturization in various industries is also propelling the demand for narrow V belts globally. Based on type, the global narrow V belts market can be segmented into 3V, 5V, 8V, SPZ, SPA, SPB and SPC segments. Among these types 3V belt segment is expected to hold a dominant share in terms of revenue contribution followed by 5V belt segment over the forecast period from 2018 to 2030 owing to its widespread applications across various industries such as agriculture equipment manufacturing industry and automotive component manufacturing industry. However 8v belt type is projected register highest CAGR over the forecast period due its increasing adoption in material handling application across different regions worldwide. Based on application area Agriculture sector held largest share in terms of revenue contribution followed by Industrial sector in 2017; however Automotive component manufacturing industry would register highest CAGR over next 10 years owing rising demand for automobiles globally coupled with miniaturization trend witnessed particularly in developed economies such as North America and Europe region . Other applications such as power transmission etc are also anticipated witness healthy growth rates during forecast period .

Global Narrow V Belts Industry Outlook

Product Definition:

A narrow V belt is a belt that has a width of less than 1 inch. These belts are often used to power small engines and machines. They are also used in applications where space is limited.


Narrow V Belts are used in a wide range of applications such as food processing, agriculture, mining and construction industries. The product is manufactured using steel and plastic composite materials. They have low to medium strength with high flexibility required for application in structural parts.

The global market is expected to grow at a CAGR of XX% from 2016 to 2024 on account of increasing demand across the end-use industries coupled with technological advancements by key players in the industry.


Narrow V Belts are used in a wide range of applications such as food processing, agriculture, mining and construction industries. The product is manufactured using rubber and steel materials which are vulcanized to form an elastic belt. They have high tensile strength and low elongation giving it an edge over other belts available in the market.

The product has various uses including packaging material for electronic products transportation of goods on roads or railways etc.

Application Insights:

The global narrow V belts market has been segmented on the basis of application into agriculture, industrial, automotive and others. The agricultural application dominated the overall industry in terms of revenue share in 2017. Narrow V-belts are widely used for power take-off applications in various farm machinery such as tractors and harvesters. They are also used to drive auxiliary equipment such as pumps and sprayers on these vehicles which aid farmers with efficient crop cultivation by providing greater power transfer efficiency from engine to machine components.

Regional Analysis:

Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rapid industrialization, increasing automobile production, and expanding end-use industries in emerging economies such as China, India, Indonesia, Vietnam among others. Moreover rising population coupled with growing disposable income will boost demand further.

The Asia Pacific regional market is anticipated to grow at a CAGR of XX% from 2018 to 2030 owing to increasing application areas across various industry verticals including automotive & transportation; consumer goods; electronics & electrical; energy & power generation; aerospace & defense among others. In addition developing infrastructure coupled with rapid urbanization will also drive product demand over the forecast period.

Growth Factors:

  • Increasing demand from the automotive industry for fuel efficiency and lightweight components
  • Growing popularity of minimalist fashion and accessories
  • Rising consumer awareness about the health benefits of wearing a narrow belt
  • Innovative design and functionality of narrow belts that appeal to a wider audience
  • Greater availability of affordable narrow belts in different styles and colors

Scope Of The Report

Report Attributes

Report Details

Report Title

Narrow V Belts Market Research Report

By Type

3V, 5V, 8V, SPZ, SPA, SPB, SPC

By Application

Agriculture, Industrial, Automotive, Others

By Companies

OMFA Rubbers, KAIOU, Dharamshila Belting, N.K. Enterprises, Vinko Auto Industries (VAIL), ZHEJIANG SHINE RUBBER, Gates, MITSUBOSHI, Taizhou Tianou Rubber

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Narrow V Belts Market Report Segments:

The global Narrow V Belts market is segmented on the basis of:


3V, 5V, 8V, SPZ, SPA, SPB, SPC

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.


Agriculture, Industrial, Automotive, 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:

  1. OMFA Rubbers
  2. KAIOU
  3. Dharamshila Belting
  4. N.K. Enterprises
  5. Vinko Auto Industries (VAIL)
  7. Gates
  9. Taizhou Tianou Rubber

Global Narrow V Belts Market Overview

Highlights of The Narrow V Belts Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. 3V
    2. 5V
    3. 8V
    4. SPZ
    5. SPA
    6. SPB
    7. SPC
  1. By Application:

    1. Agriculture
    2. Industrial
    3. Automotive
    4. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Narrow V Belts 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
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  • Understanding Competition Scenario
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Global Narrow V Belts Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Narrow V belts are a type of belt that is made from a narrower width of webbing than the standard belt. They are often used to reduce the amount of material that needs to be used in order to create a strong and durable belt, while also reducing weight. Narrow V belts can also provide increased stability when worn, as they tend to be more resistant to stretching or kinking.

Some of the key players operating in the narrow v belts market are OMFA Rubbers, KAIOU, Dharamshila Belting, N.K. Enterprises, Vinko Auto Industries (VAIL), ZHEJIANG SHINE RUBBER, Gates, MITSUBOSHI, Taizhou Tianou Rubber.

The narrow v belts market is expected to register a CAGR of 5.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Narrow V Belts Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Narrow V Belts Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Narrow V Belts Market - Supply Chain
   4.5. Global Narrow V Belts Market Forecast
      4.5.1. Narrow V Belts Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Narrow V Belts Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Narrow V Belts Market Absolute $ Opportunity

5. Global Narrow V Belts Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Narrow V Belts Market Size and Volume Forecast by Type
      5.3.1. 3V
      5.3.2. 5V
      5.3.3. 8V
      5.3.4. SPZ
      5.3.5. SPA
      5.3.6. SPB
      5.3.7. SPC
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Narrow V Belts Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Narrow V Belts Market Size and Volume Forecast by Application
      6.3.1. Agriculture
      6.3.2. Industrial
      6.3.3. Automotive
      6.3.4. Others
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Narrow V Belts Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Narrow V Belts Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Narrow V Belts Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Narrow V Belts Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Narrow V Belts Demand Share Forecast, 2019-2029

9. North America Narrow V Belts Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Narrow V Belts Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Narrow V Belts Market Size and Volume Forecast by Application
      9.4.1. Agriculture
      9.4.2. Industrial
      9.4.3. Automotive
      9.4.4. Others
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Narrow V Belts Market Size and Volume Forecast by Type
      9.7.1. 3V
      9.7.2. 5V
      9.7.3. 8V
      9.7.4. SPZ
      9.7.5. SPA
      9.7.6. SPB
      9.7.7. SPC
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Narrow V Belts Demand Share Forecast, 2019-2029

10. Latin America Narrow V Belts Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Narrow V Belts Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Narrow V Belts Market Size and Volume Forecast by Application
      10.4.1. Agriculture
      10.4.2. Industrial
      10.4.3. Automotive
      10.4.4. Others
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Narrow V Belts Market Size and Volume Forecast by Type
      10.7.1. 3V
      10.7.2. 5V
      10.7.3. 8V
      10.7.4. SPZ
      10.7.5. SPA
      10.7.6. SPB
      10.7.7. SPC
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Narrow V Belts Demand Share Forecast, 2019-2029

11. Europe Narrow V Belts Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Narrow V Belts Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Narrow V Belts Market Size and Volume Forecast by Application
      11.4.1. Agriculture
      11.4.2. Industrial
      11.4.3. Automotive
      11.4.4. Others
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Narrow V Belts Market Size and Volume Forecast by Type
      11.7.1. 3V
      11.7.2. 5V
      11.7.3. 8V
      11.7.4. SPZ
      11.7.5. SPA
      11.7.6. SPB
      11.7.7. SPC
   11.8. Basis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Tpe
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Narrow V Belts Demand Share, 2019-2029

12. Asia Pacific Narrow V Belts Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Narrow V Belts Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Narrow V Belts Market Size and Volume Forecast by Application
      12.4.1. Agriculture
      12.4.2. Industrial
      12.4.3. Automotive
      12.4.4. Others
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Narrow V Belts Market Size and Volume Forecast by Type
      12.7.1. 3V
      12.7.2. 5V
      12.7.3. 8V
      12.7.4. SPZ
      12.7.5. SPA
      12.7.6. SPB
      12.7.7. SPC
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Narrow V Belts Demand Share, 2019-2029

13. Middle East & Africa Narrow V Belts Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Narrow V Belts Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Narrow V Belts Market Size and Volume Forecast by Application
      13.4.1. Agriculture
      13.4.2. Industrial
      13.4.3. Automotive
      13.4.4. Others
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Narrow V Belts Market Size and Volume Forecast by Type
      13.7.1. 3V
      13.7.2. 5V
      13.7.3. 8V
      13.7.4. SPZ
      13.7.5. SPA
      13.7.6. SPB
      13.7.7. SPC
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Narrow V Belts Demand Share, 2019-2029

14. Competition Landscape
   14.1. Global Narrow V Belts Market: Market Share Analysis
   14.2. Narrow V Belts Distributors and Customers
   14.3. Narrow V Belts Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. OMFA Rubbers Overview Financials Developments Strategic Outlook
      14.4.2. KAIOU Overview Financials Developments Strategic Outlook
      14.4.3. Dharamshila Belting Overview Financials Developments Strategic Outlook
      14.4.4. N.K. Enterprises Overview Financials Developments Strategic Outlook
      14.4.5. Vinko Auto Industries (VAIL) Overview Financials Developments Strategic Outlook
      14.4.6. ZHEJIANG SHINE RUBBER Overview Financials Developments Strategic Outlook
      14.4.7. Gates Overview Financials Developments Strategic Outlook
      14.4.8. MITSUBOSHI Overview Financials Developments Strategic Outlook
      14.4.9. Taizhou Tianou Rubber Overview Financials Developments Strategic Outlook
      14.4.10. COMPANY 10 Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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