Scope of the Study
The automotive belt is a loop of flexible material used to link two or more rotating shafts mechanically, most often parallel for automotive applications. These belts may be used as a source of motion, to transmit power efficiently or to track relative movements. They are used for two-wheeler, cars and vans, trucks and buses, heavy and light-duty vehicles and other applications. These belts are corrosion resistant, high performance and tensile strength. The factors such as High Demand for Various Automotive Applications and Increased Demand for V-Belts in the Automotive Industry are driving the global automotive belts market.
The market study is being classified by Type (Timing Belts, Drive Belts (Single V-Belt and Multi-function V-Belt) and Serpentine Belt), by Application (Passenger Vehicles, Light Commercial Vehicles and Heavy Commercial Vehicles) and major geographies with country level break-up.
Gates Corporation (United States), Midas International Corporation (United States), Mitsuboshi Belting Ltd. (Japan), Helicord Transmissions Pvt. Ltd. (India), BandB Manufacturing (United States), The Carlstar Group LLC (United States), Continental AG (Germany), CRP Industries Inc. (United States), BG Automotive (United Kingdom) and Goodyear Rubber Products, Inc. (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automotive Belts market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Automotive Belts market by Type, Application and Region.
On the basis of geography, the market of Automotive Belts 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- High Demand for Various Automotive Applications
- Increased Demand for V-Belts in the Automotive Industry
- Growing Demand for Rubber Belts For Vibration and Noise-Free Power Transmission
- Fluctuations in the Raw Material Prices
- Growing Automotive Industry Worldwide
- Robust Increase in the Distribution Channels
- Environmental Factors Affecting the Automotive Belts
Market Leaders and their expansionary development strategies
Recently, Italy-based Megadyne S.p.A, a leading manufacturer of premium polyurethane belts for industrial applications, has acquired a majority stake in Chennai-based Helicord Transmissions for an undisclosed sum as part of its ‘strategic move’ to strengthen its presence in the Indian market.
Key Target AudienceAutomotive Belts Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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