DUBLIN, June 23, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Automotive Timing Belt Market 2017-2021" report to their offering.
The global automotive timing belt market to grow at a CAGR of 2.90% during the period 2017-2021.
Global Automotive Timing Belt Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion operating in this market.
According to the report, one of the major drivers for this market is improvement in aftermarket segment. The OEM segment buys a standard quantity of components of timing belts to produce new automotive products. The requirement is large but the bulk revenue is dependent on the global automobile market. The aftermarket segment, where the timing belt occupies a large after to the automotive wiper system market. This means that the manufacturers are less dependent on car makers for their revenue and sales. In the aftermarket segment, manufacturers have their own distribution channels for both global and local markets.
The latest trend gaining momentum in the market is use of thermally-stable materials for producing timing belts. Timing belt is one of the crucial components in ICEs as it operates and controls the number of revolutions of the camshaft, which defines the power generated by the engine. As timing belts are placed close to the engine cylinder where the air-fuel mixture combusts, it is exposed to heat temperatures. Corrosion and wear and tear due to high temperatures of the combustion chamber are among the major factors for the failure of timing belts.
Further, the report states that one of the major factors hindering the growth of this market is increase in annual wage leading to declining profit margins. In the automotive industry value chain, the OEMs have been absorbing the liability for most of the warranty costs and price pressure from the demand side in the past. However, this situation has changed over the past 5-6 years where the OEMs have pushed liabilities on Tier-1 suppliers who, in turn, push them to component manufacturers. This has led to cost optimization across the industry to maintain profitability.
- B&B MANUFACTURING
- THE CARLSTAR GROUP
- ContiTech (Continental)
- J.K. Fenner (India) Limited
- Gates Corporation
Other prominent vendors:
- Bando USA
- Federal-Mogul Motorparts Corporation
- Ningbo Beidi Synchronous Belt
- Ningbo Fulong Synchronous Belt
- MAHLE Aftermarket
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by end user
Part 07: Market segmentation by vehicle type
Part 08: Geographic segmentation
Part 09: Key leading countries
Part 10: Decision framework
Part 11: Drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
For more information about this report visit https://www.researchandmarkets.com/research/9hmz5d/global_automotive
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SOURCE Research and Markets