The latest report on Timing Belt Market by Infinium Global Research gives complete coverage of the timing belt market by vehicle type (belt-in-oil, dry belts, and chains), hybrid (passenger vehicle, commercial vehicle), vehicle type (plug-in hybrid electric vehicle (PHEV) and hybrid electric vehicle (HEV)), component (idler pulleys, timing shield, tensioner, and sprocket) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of timing belt such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Using the Timing Belt is that The Power Transmission Efficiency is Not Lost with Regular Use
The timing belt is the belt that controls the camshafts in your engine along with opening and closing valves at just the right time for the smooth operation of the car. However, the use of a timing belt as an alternative of direct gear drive allows engine designers to keep the camshaft away from the crankshaft. In modern engines, manufacturers recommend replacing the timing belt from between every 40,000-150,000 kilometers depending on the engine.
The major advantage of using the timing belt is that the power transmission efficiency is not lost with regular use and there is no need for lubrication as the operation of the timing belt is very clean. Some cars and trucks use timing chains or gears that are more durable. However, timing belts, made of rubber compounds are quieter and more efficient. They also do not need lubricants to work.
The factors such as an increased preference for high mileage vehicles and increased Vehicle Parks are driving the growth of the timing belt market. Increased demand for automobiles from emerging countries such as BRIC countries is strengthening the growth of the timing belt market. Additionally, growth indirect injection engines is likely to escalate the demand for automotive timing belts. However, the demand for pure battery electric vehicles is restraining the growth of the timing belt market.
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Strategic Developments in the Global Automotive Industry
Furthermore, the shift from dry belt to belt in oil timing belt is anticipated to create several growth opportunities for the key players in the timing belt market over the years to come. Participation in racing events is on the rise, the market for a high-performance vehicle is very promising. This, in turn, is projected to boost the overall demand for the timing belt during the forecast period. Automotive timing belt manufacturers, as well as OEMs, are exploring various research and development activities to intensify the durability and life of automotive timing belts.
The Asia Pacific Prevailed to be the largest market for the automotive timing belts and chains due to the growing vehicle production in China followed by India. China and India are among the fastest-growing markets in the world for automotive manufacturing and accessories manufacturing owing to low production costs. Increasing the production of automobiles in the European region has led to an increasing demand for automotive timing belts.
Moreover, the global automobile industry has undergone several structural changes such as technological changes in the engines, electrification of automobiles, emission norms and regulations, safety and security changes, and connectivity among others. The overview of hybrid vehicles has led to substantial changes in the internal structure and functioning of the vehicles. This has resulted in strategic developments in the global automotive market.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the timing belt.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.