What is Belt Drives Market Scope?
A belt drive is a power transmission device which is wound around a pair of pulley so as to transmit power between two or more rotating shafts. Compared to other power transmitting devices, belt drives are more preferred in the mechanical industry due to easy installation, numerous speed ratio selections, less power loss, and comparatively low price. It also protects the rotating machinery from overload fluctuations by absorbing all shocks and vibrations. The belt drive does not need lubrication and thus requires less maintenance. In the coming year’s developing countries such as India, South Africa, and China will see more demand for belt drives owing to growing industrialization and growth in oil refineries and the mining sector.
The Belt Drives market study is being classified by Type (Flat Belt, V Belt, Circular Belt and Timing Belt), by Application (Industrial Machinery, Automobiles, Agriculture, Oil Refineries and Mining Industry) and major geographies with country level break-up.
Research Analyst at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global Belt Drives market throughout the predicted period.
RPM Nigeria Limited (Nigeria), Arntz Optibelt GmbH (Germany), Megadyne Belt Corporation (Italy), Dayco Products LLC (United States), Hutchinson Belt Drive Systems (Germany), Desch Antriebstechnik GmbH (Germany), Schaeffler Technologies AG & Co. KG (Germany), Federal-Mogul Co. (United States), Belt Technologies Inc. (United States) and Gates Corporation (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are The Goodyear Tire & Rubber Company (United States), Reynold Plc (United Kingdom), Ino Industrial Belting Co. Ltd. (China), SKF (Sweden), JK Fenner (India) and ContiTech (Germany).
Analyst at AMA have segmented the market study of Global Belt Drives market by Type, Application and Region.
On the basis of geography, the market of Belt Drives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
On October 09, 2020, Italy’s Megadyne, a manufacturer of PU industrial belts, has acquired SATI SpA, components for power transmission system manufacturers.
On December 02, 2020, Goodyear Belts, a licensee collaboration between Adventry and The Goodyear Tire & Rubber Company, has launched a new line of power transmission belts targeting the demands of multiple markets globally.
Influencing Market Trend
- Belts with Carbon Tensile Members, and Heavy-Duty Timing Belts
- Increase in Manufacturing Factories, and Innovation in Material Equipment Handling Across the Globe
- Less Maintenance and Cost-effective Solutions
- Improvement in Demand for Conveyor Equipment, Construction Equipment, and Heavy Industrial Equipment
- The uptick in Automotive, Industrial and Mining Applications
- Growing Focus of Manufacturing Plants on Enhancing Energy Efficiency
- Strong Demand for Continuously Variable Transmission (CVT) Technology
- Mechanization of Agriculture, and Strong Demand for Combines and Harvesters
- Limited Speed per Second Compared To Other Mode Power Transmission
- Fluctuation in Raw Material Cost and Short Life Service
- Adoption of Electrical Motors and Drives in Industrial Application
- Slip and Creep in Belt
- Premature Belt Failure owing to Misalignment
Key Target AudienceBelt Drives Manufacturers, Raw Material Suppliers, Distributors/Traders/Wholesalers/Retailers, End-Use Industries and Others
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