SAN FRANCISCO, Jan. 7, 2020 /PRNewswire/ -- The global Timing Belt Market is estimated to grow at a higher CAGR by the completion of the forecast period. It is a ridged belt used to harmonize the revolution of the crankshaft and the valves of the engine to facilitate the opening and the closing of the valves at a suitable interval. The timing belt is fixed beneath a timing cover located ahead of the engine. It is usually factory-made from the top quality rubber along with inside nylon covered strings to lengthen the life of the belt. It is likewise utilized to drive some other mechanisms such as balance shaft, oil pump, water pump, etc.
Increasing sales of new-fangled vehicles followed by the growing demand with respect to the spares is estimated to trigger the demand for timing belts all over the world. There is a solid sale of the vehicles in developing and the developed nations. Due to the global economic slowdown many parts of the world have observed a slow-moving rate of development. The surge in the demand for the vehicles is observed after the period of slow moving development. This has generated the demand for timing belts from the OEMs.
The global Timing Belt Market can be classified by Application, Type of Drive, Component, Type of Vehicle, Type of Hybrid Vehicle, and Region. By Application, Timing Belt Market can be classified as Industrial, Automotive. By Type of Drive, it can be classified as Belt in Oil, Dry Belts, and Chain. By Component, Timing Belt Market can be classified as Idler Pulley, Timing Cover/Shield, Sprocket, and Tensioner. By Type of Vehicle, it can be classified as Commercial Vehicle, Passenger Cars. By Type of Hybrid Vehicle, it can be classified as Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV)
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By Region the global Timing Belt Market can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. In the North American region, the U.S.A pushes the development because it is the biggest market within the region. North America is projected to be the topmost for timing belt within the region. The extraordinary vehicular parc and normal kilometers run by each automobile have steered to the development of the aftermarket in North America. Thus, the greater vehicle parc will clearly affect the aftermarket within the region.
The Asia-pacific region proposes a significant prospective for the development of the due to speedy development of the nations such as China and India. Asia Pacific is expected to be the biggest and speedily developing place for timing belt within the duration of the forecast. Nations like Japan, India, and China are the foremost markets within the region by means of the manufacture of the vehicle. The manufacture of passenger cars is the uppermost in the Asia Pacific region. The region has funded the maximum percentage of share of the worldwide manufacture of passenger car during the historical years. The obtainability of low-cost manual labor is one of the principal causes for the greater manufacture of the vehicle within the region. These reasons have assisted Asia Pacific to turn out to be the biggest market for the timing belt.
Some of the important companies for Timing Belt Market are SKF AB, NTN Corporation, Schaeffler Technologies AG & Co. KG, The Goodyear Tire & Rubber Company, Toyoda Gosei Co., Ltd., Fenner PLC, Borg Warner Inc., Tsubakimoto Chain Co., Aisin Seiki Co., Ltd., and Continental AG.
This report provides detailed historical analysis of global market for Timing Belt from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Timing Belt market.
Access 134 page research report with TOC on "Global Timing Belt Market" available with Radiant Insights, Inc. @: https://www.radiantinsights.com/research/2013-2028-report-on-global-timing-belt-market
- Leading players of Timing Belt including:
- Wuxi Belt
- Ningbo Jiebao
- Shanghai Wutong
- Ningbo Fulong
- Zhejiang Kaiou
- Market split by Type, can be divided into:
- Rubber Belt
- PU Belt
- Market split by Application, can be divided into:
- Market split by Sales Channel, can be divided into:
- Direct Channel
- Distribution Channel
- Market segment by Region/Country including:
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
- South America Brazil, Argentina, Colombia and Chile etc.)
- Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
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