Global Timing Belt Market to Reach US$ 10.7 Billion by 2032, Catalyzed by Significant Growth in the Automotive Industry

May 31, 2023 | Transportation and Logistics

According to the latest report by IMARC Group, titled “Timing Belt Market Report by Drive Type (Dry Belts, Chain, Belt in Oil), Component (Tensioner, Idler Pulleys, Timing Shield/Cover, Sprocket), Vehicle Type (Passenger Vehicle, Commercial Vehicle), Distribution Channel (OEM, Aftermarket), and Region 2024-2032," the global timing belt market size reached US$ 7.2 Billion in 2023. A timing belt refers to a mechanical component used in internal combustion engines (ICEs) and other systems to synchronize the rotation of the crankshaft and camshaft. It is comprised of several components, such as a tensioner, idler pulleys, gears, belt body, notches, and protective cover. A timing belt is manufactured using various elastic, high-strength, and durable materials, such as rubber, aramid, fiberglass, and carbon fiber. It is widely used in passenger and commercial vehicles, industrial machinery, conveyor systems, robotics, medical devices, and farming equipment, such as harvesters, tractors, and irrigation pumps. A timing belt is a cost-effective, lightweight, and compact product that requires low maintenance and exhibits excellent resistance to corrosion, moisture, and chemical degradation. It also enables accurate and precise synchronization, which reduces noise and vibration, allows efficient operations, ensures optimal performance, and improves equipment service life.

Global Timing Belt Market Trends:

The significant growth in the automotive industry is one of the primary factors propelling the market growth. A timing belt is widely used in the engines of passenger cars, motorcycles, recreational vehicles (RVs), minivans, trucks, and other commercial vehicles to ensure precise timing and synchronization, which aids in maintaining optimal engine performance. In addition to this, the implementation of strict government regulations to reduce pollution levels and improve the fuel efficiency of vehicles is acting as another growth-inducing factor. Furthermore, the widespread product application in various industrial machinery, such as conveyor systems, manufacturing equipment, printing presses, escalators, and packaging equipment, are providing an impetus to the market growth. Additionally, the adoption of high-performance materials in product manufacturing, such as Kevlar and carbon fiber, which offer higher strength, extend service life, and increase resistance to wear and fatigue, is positively influencing the market growth. Besides this, the introduction of timing belt manufactured using various coating materials, such as polyurethane (PU), fabrics, chrome leather, and polyvinyl chloride (PVC), to increase friction, reduce noise, and enhance grip on pulleys is strengthening the market growth. Moreover, the increasing product demand in the healthcare industry to enable precise and accurate movement in diagnostic equipment, surgical robots, imaging devices, and patient handling systems is supporting the market growth. Other factors, including rising inclination toward factory automation, extensive research and development (R&D) activities, and the growing demand for aftermarket products, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 10.7 Billion by 2032, exhibiting a CAGR of 4.4% during 2024-2032.

Market Summary:

  • On the basis of the drive type, the market has been divided into dry belts, chains and belt in oil.
  • Based on the component, the market has been classified into tensioner, idler pulleys, timing shield/cover and sprocket.
  • On the basis of the vehicle type, the market has been bifurcated into passenger and commercial vehicles.
  • Based on the distribution channel, the market has been divided into OEM and aftermarket.
  • On a regional basis, the market has been categorized into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the industry has also been examined, with some of the key players being B&B Manufacturing, ContiTech, The Carlstar Group, Gates Corporation, J.K. Fenner Limited, ACDelco, Federal-Mogul Motorparts Corporation, Bando USA, Dayco, Ningbo Beidi Synchronous Belt, Goodyear SKF, Ningbo Fulong Synchronous Belt, MAHLE Aftermarket and Tsubaki.


Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Drive Type, Component, Vehicle Type, Distribution Channel, Region
Region Covered Europe, North America, Asia Pacific, Latin America, Middle East and Africa
Companies Covered B&B Manufacturing, ContiTech, The Carlstar Group, Gates Corporation, J.K. Fenner Limited, ACDelco, Federal-Mogul Motorparts Corporation, Bando USA, Dayco, Ningbo Beidi Synchronous Belt, Goodyear SKF, Ningbo Fulong Synchronous Belt, MAHLE Aftermarket and Tsubaki
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.


Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Timing Belt Market to Reach US$ 10.7 Billion by 2032, Catalyzed by Significant Growth in the Automotive Industry
Purchase Options Year End sale




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARATI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More
DEinternational Egypt

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

Read More
Gulf Excellent Group

I wanted to express my sincere appreciation for your efforts in handling this matter. Your dedication and commitment have truly been commendable. It is evident that you have put in a tremendous amount of hard work and expertise into resolving the issues at hand. I would also like to take this opportunity to inform you that we are greatly interested

Read More
FS Corporation Inc.

Overall, the deliverable was well organized and my experience with the project team was good. In particular, I appreciated how they responded when I requested additional information and the Japanese version.

Read More
Egyptian Industrial Investment Group

The IMARC team were extremely professional and very cooperative. The team were also extremely flexible in making changes and modifications wherever required. The entire experience right from project kick-off to after sales support was fruitful and smooth.

Read More
Vishnu Chemicals

I’d like to express my gratitude for the work you accomplished with the industry report. The way you responded to the requirements and delivered under tight timelines shows your expertise, exceptional work ethic and commitment to your customer’s success. The entire team and company are incredibly thankful for your dedication. Once again, thank you

Read More
MOUNT EVEREST BREWERIES LIMITED

The market reports from IMARC have been instrumental in guiding our business strategies. We found the reports comprehensive and data-driven, which helped us make informed decisions. The detailed insights and actionable data have consistently provided us with a competitive edge in a rapidly changing alcohol market.

Read More
Borges Branded Foods

One of the best things about IMARC is their flexibility and predisposition to tailor the reports and adapt to our needs. They are not just great in their researching and consulting solutions, but their service is unparallelled. We’ve worked with them a couple of times and we will keep working with them in future projects.

Read More
Godrej Consumer Products Limited

We recently commissioned multiple market research reports from IMARC, and the insights we received were invaluable. The depth of analysis, accuracy of data, and actionable recommendations have greatly enhanced our strategic decision-making.

Read More
ADC Therapeutics

The market estimates provided by your team were pretty much in line with what we were theorizing internally. Really appreciate the work on this.

Read More
Ivanti

The sale account manager and the service was excellent. The data and market trends gathered from the report was insightful and really assisted while planning future product and growth strategies.

Read More
Asiatic Electrical & Switchgear P. Ltd.

The report is excellent and has good amount of data and our team is extremely happy with the information provided.

Read More
Denka Co., Ltd.

Thank you very much for your cooperation and post purchase support. We were really happy with the final deliverable, and the takeaways from the report.

Read More