Global Timing Belt Market By Vehicle Type (Passenger Car, Commercial Vehicle, Others), By Component (Tensioner, Timing Shield/Cover, Sprocket, Idler Pulley, Others), By Drive Type (Dry Belts, Chain, Belt in Oil, Others), By Demand Category (OEM v/s Aftermarket), By Region, Competition, Forecast & Opportunities, 2026
New York, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Timing Belt Market By Vehicle Type, By Component, By Drive Type, By Demand Category, By Region, Competition, Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06020649/?utm_source=GNW
The Global Timing Belt Market is expected to grow at a steady rate during the forecast period.The Global Timing Belt Market is driven by the increasing racing events such as motorbike races, formula one, NASCAR, among others.
This has drastically increased the market for high performance vehicles which frequently require timing belts.This in turn is positively impacting the market growth through 2026.
Additionally, growing consumer preferences for increasing the life of their vehicles is further expected to fuel the market growth during the forecast period.Furthermore, ongoing technological advancements such as shift towards light weight vehicle components and rising investments by the major OEMs operating in the market is expected to create lucrative opportunities for the market growth over the next few years.
However, high cost of timing belt can hamper the market growth. Besides, growing adoption of electric vehicles can further impede the market growth during the forecast period.
The Global Timing Belt Market is segmented based on vehicle type, component, drive type, demand category, company and region.Based on the vehicle type, the market can be categorized into passenger car, commercial vehicle and others.
The passenger car segment is expected to dominate the market on account of the rising income levels and the growing demand for passenger cars, especially in the emerging countries. Additionally, growing production of passenger cars with ICE engine due to increasing vehicle ownership further drives the segmental growth.
Regionally, the Global Timing Belt Market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa.Asia Pacific is expected to register the highest growth in the overall timing belt market owing to the increasing vehicle production especially in China and India.
Additionally, increasing manufacturing of automotive components and accessories due to low manufacturing and labor costs in the region is expected to create lucrative opportunities for the market growth.
The major players operating in the Global Timing Belt Market are Continental AG, Toyota Motor Sales U.S.A., Inc., Aisin Europe Aftermarket, The Goodyear Tire & Company, Tsubakimoto Chain Co. (Tsubaki Group), Schaffler Holdings AG, Borgwarner, Inc., NTN Corporation, J.K. Fenner Ltd., SKF Group and others. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In October 2020, Continental AG acquired assets and business of CPR’s Industries’ Continental related belts and bet kits program for bringing all its Continental Branded aftermarket belt products under its North American Business
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
• To analyze and estimate the market size of the Global Timing Belt Market from 2016 to 2019.
• To estimate and forecast the market size of the Global Timing Belt Market from 2020 to 2026 and growth rate until 2026.
• To classify and forecast the Global Timing Belt Market based on vehicle type, component, drive type, demand category, company and regional distribution.
• To identify dominant region or segment in the Global Timing Belt Market.
• To identify drivers and challenges for the Global Timing Belt Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Timing Belt Market.
• To identify and analyze the profile of leading players operating in the Global Timing Belt Market.
• To identify key sustainable strategies adopted by market players in the Global Timing Belt Market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of the Global Timing Belt Market by using a bottom-up approach, wherein the data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Timing belt manufacturers/ suppliers/ distributors
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to timing belt
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.
In this report, the Global Timing Belt Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Timing Belt Market, By Vehicle Type:
o Passenger Car
o Commercial Vehicle
• Global Timing Belt Market, By Component:
o Timing Shield/Cover
o Idler Pulley
• Global Timing Belt Market, By Drive Type:
o Dry Belts
o Belt in Oil
• Global Timing Belt Market, By Demand Category:
• Global Timing Belt Market, By Region:
o North America
o Middle East & Africa
o South America
Company Profiles: Detailed analysis of the major companies present in the Global Timing Belt Market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06020649/?utm_source=GNW
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