Automotive Timing Belt Market Overview
The global automotive
timing belt market can experience expansion across the review period,
reveals Market Research Future (MRFR) studies. Different factors that can
impact the automotive timing belt market are discussed in the report, along the
COVID 19 analysis of the market. The rise in the application of automotive
timing belt is expected to cause the market to thrive at a high CAGR in the
analysis period and generate substantial annual turnover for the market across
the study period. The rise of automotive industry can significantly impact the
automotive timing belt market. The increase in the popularity of motor sports due
to the high demand for diverse and high performing vehicles can support the
rise of the automotive timing market across the analysis period. The growing need
for fiber-reinforced materials can support the expansion of automotive timing
belt market in the forecast period.
The rapidly rise in investment made
by major OEMs can support the expansion of the automotive belt market in the
years to come. The increase in awareness about features of automotive belt such
as strength and durability can impact the expansion of the automotive timing
belt market through the analysis period. The shift in focus towards lightweight
components in the automobile sector can impact the expansion of the market in
the years to come. The increase in number of timing belt manufacturers can
impel the expansion of the market in the years to come. The quick development and
innovations in lighter timing belts for different vehicles can support the rise
of the market. In addition, the ingoing
trend of direct injection for automobiles can support the growth of the
automotive timing belt market in the analysis period.
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Segment Study
The segment evaluation of the
automotive timing belt market is done by type, vehicle, and component.
The type based segments of the
automotive timing belt market are belt in oil, chain, and dry belts. The belt
in oil segment can stir up high revenue in the years to come.
The vehicle type based segments
of the automotive timing belt market are passenger vehicle and commercial
vehicle. The commercial vehicle segment can generate high turnover for the
automotive timing belt market in the analysis period.
The component based segments of
the automotive timing belt market are timing shield, sprocket, idler pulley,
and tensioner. The increase in the adoption of idler pulley can impel the rise
of the automotive timing belt market across the study period.
Global Automotive Timing Belt Market Regional Study
The automotive timing belt
systems market trends are studied across North America, EU, APAC, and MEA. The
increase in the demand for automobile across the U.S. can cause rise in the
valuation of the market in the years to come. The rise in the demand for commercial
vehicles across Mexico and Canada can impel the expansion of the regional
market in the years to come.
The established automotive
industry can ace Europe automotive timing belt market across the analysis
period. The rise in the demand for vehicle product can drive the expansion of
the market in years to come. APAC automobile timing belt market can rise owing
to the growth of the automobile industry. The presence of powerful start-up can
promote the market in years to come.
Key Players
Continental (Germany), BorgWarner
(US), SKF (Sweden), Canadian Automobile Association (CAA), Tsubakimoto Chain
(Japan), Korea Automobile Manufacturers Association (KAMA), European Automobile
Manufacturers Association (ACEA), and japan Automobile Manufacturers
Association (JAMA) are some reputed names in the Automotive global Timing Belt
market as listed by MRFR.
Read more:
electric light commercial vehicles
Gasoline
Direct Injection (GDI)
cyber security in automotive industry
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