The global automotive timing chain & belt market share is predicted to register a CAGR of 4.5% over the forecast period, according to FMI’s analysis. The industry’s value is anticipated to increase from US$ 8.6 billion in 2023 to US$ 13.2 billion by 2033 end.
The Automotive Timing Chain & Belt Market is experiencing steady growth driven by several factors, including the increasing production of vehicles worldwide, advancements in engine technology, and the growing demand for fuel-efficient and reliable powertrains. Timing chains and belts are critical components of internal combustion engines, responsible for synchronizing the rotation of the crankshaft and camshaft to ensure precise engine operation.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-6132
One of the primary drivers of this market is the growing global demand for vehicles, particularly in emerging economies experiencing rapid industrialization and urbanization. As vehicle production volumes increase, the demand for timing chains and belts also rises, as these components are essential for the proper functioning of internal combustion engines used in passenger cars, commercial vehicles, and off-highway equipment.
Moreover, advancements in engine design and technology, such as variable valve timing (VVT), turbocharging, and direct injection, are driving innovation in the timing chain and belt market. These technologies require specialized timing systems capable of operating under a wide range of conditions, optimizing engine performance, fuel efficiency, and emissions.
Furthermore, the increasing focus on reducing emissions and improving fuel economy is driving demand for timing chains and belts that contribute to lower emissions and improved engine efficiency. Manufacturers are developing lightweight materials, advanced coatings, and optimized designs to enhance the durability, reliability, and efficiency of timing systems, helping automakers meet stringent regulatory standards and consumer expectations for cleaner and more efficient vehicles.
Key Takeaways from the Automotive Timing Chain & Belt Market:
- China is projected to assume a high speed of market growth in the next ten years. The country is expected to register a 6.1% CAGR from 2023 to 2033 to attain US$ 4.3 billion by 2033.
- The United Kingdom automotive chain & belt market is slated to achieve market revenue of US$ 229.8 million by 2033. The industry is likely to exhibit a CAGR of 2.6% over the forecast period. Increasing research and innovations in the market are projected to boost market development in the country.
- The United States market is pegged to attain market revenue of US$ 1.5 billion by 2033. Over the course of the next ten years, the market is projected to demonstrate a 3.3% CAGR. Expanding the automotive sector and increasing the adoption of fiber-reinforced materials in the manufacturing process are projected to boost the market growth.
- The chain segment is anticipated to represent a CAGR of 4% over the forecast period. New innovations and establishments to advance the chains segment is projected to boost market expansion.
- The gasoline-powered engine segment is anticipated to exhibit an improved CAGR of 4.4% over the forthcoming years, higher than the 3.9% witnessed in the historical period. Increasing preference for these engines, in addition to growing sales of automotive, is expected to boost the market growth.
List encompassing key players operating in automotive timing chain & belt market
Tsubakimato Chain Co., BG Automotive, Continental AG, BorgWarner Inc., Denso Corporation, Schaeffler Technologies AG & Co. KG, Mitsuboshi Belting Ltd., L.G. Balakrishan & Bros Ltd, Daido Kogyo Co. Ltd., SKF AB, Iwis Group, Gates Corporation, Dayco Products LLC, Qingdao Choho Industrial Co. Ltd., Rockman Industries Ltd., Sumax Industry Limited, CIC USA Corp, KCM Automobile Transmission Co. Ltd, Mahle GmbH,
Direct Purchase of this Report:
https://www.futuremarketinsights.com/checkout/6132
Market Segmentation
By Product Type:
- Chain
- Roller Chain
- Non Roller Chain
- Belt
- Dry Belt
- Belt In Oil
By Engine Type:
- Gasoline
- Inline Engine
- V-Engine
- Diesel
- Inline Engine
- V-Engine
By Vehicle Type:
- Passenger Car
- LCV
- HCV
- Off Highway Vehicles
By Sales Channel:
- OEM
- Aftermarket
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube