DUBLIN, May 31, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Industrial Synchronous Timing Belts Market 2017-2021" report to their offering.
The global industrial synchronous timing belts market to grow at a CAGR of 4.25% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global industrial synchronous timing belts market for 2017-2021. The report covers the market landscape and its growth prospects over the coming years. To calculate the market size, the report considers the sales, retrofit, replacement, spares, and services market. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is mechanization of agriculture and farm operations in developing economies. Industrial manufacturers in the field of agricultural mechanization will play an important role in the industrial synchronous timing belts market. This will improve the adoption of agricultural equipment, improving the growth of the global industrial synchronous timing belts market during the forecast period. Initiatives by governments in developing countries such as India and China will highly prioritize the use of industrial resources for efficient farm operations.
According to the report, one of the major drivers for this market is growing retrofit activities in industrial machinery. The growing retrofit activities in advanced machinery and equipment to increase productivity through lower downtimes has created a sizable replacement and retrofit market for industrial synchronous timing belts. The manufacturing sector in APAC is continually growing. Countries such as India and China are currently undergoing major development initiatives owing to government initiatives to bolster the domestic manufacturing sector.
Further, the report states that one of the major factors hindering the growth of this market is lack of predictive maintenance. Predictive maintenance is the complement of precautionary maintenance. It is necessary for a machine before the equipment experiences a complete breakdown. This, in turn, is essential to obtain efficient, reliable, and safe production processes. This is when it is essential for the application of synchronous timing belts. These belt drives are cost-effective and reliable means for transmitting power between shafts, and it provides an efficiency of 98%.
Other prominent vendors
- B&B Manufacturing
- Fuju Belt
- Mitsuboshi Belting
- Pix Transmissions
- Embekon Engineers
- Tempo International
- WM Berg
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 product
Part 07: Market segmentation by end-user
Part 08: Geographical segmentation
Part 09: Decision framework
Part 10: Drivers and challenges
Part 11: Market trends
Part 12: Vendor landscape
Part 13: Key vendor analysis
Part 14: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/pb97s5/global_industrial
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SOURCE Research and Markets