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 .
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.
3V:
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.
5V:
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
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
237
Number of Tables & Figures
166
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:
Types
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.
Applications
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:
- OMFA Rubbers
- KAIOU
- Dharamshila Belting
- N.K. Enterprises
- Vinko Auto Industries (VAIL)
- ZHEJIANG SHINE RUBBER
- Gates
- MITSUBOSHI
- Taizhou Tianou Rubber
Highlights of The Narrow V Belts 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:
- 3V
- 5V
- 8V
- SPZ
- SPA
- SPB
- SPC
- By Application:
- Agriculture
- Industrial
- Automotive
- 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 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.
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- 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?
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
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. KAIOU
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Dharamshila Belting
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. N.K. Enterprises
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Vinko Auto Industries (VAIL)
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. ZHEJIANG SHINE RUBBER
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Gates
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. MITSUBOSHI
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Taizhou Tianou Rubber
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
