A timing belt or timing cambelt or chain is a portion of an internal combustion engine. It mainly synchronizes the rotation of the crankshaft and camshaft(s) to make the engine valves opened and closed at precise times throughout intake as well as exhaust strokes of each cylinder's. The timing belt is essential to turn away the piston from striking the valves in an engine. A timing belt is a toothed belt, that is, a drive belt which has teeth on the inside surface. The modern automobile engines use timing chains or belts to synchronize crankshaft and camshaft rotation; also gears are used in some engines as well to drive the camshafts.
MARKET SCOPE
The "Global Timing Belt Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the timing belt market with detailed market segmentation by ICE vehicle, hybrid vehicle type, component, and geography. The report provides key statistics on the market status of the leading timing belt market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on ICE vehicle, the global timing belt market is segmented into passenger vehicle and commercial vehicle.
- On the basis of hybrid vehicle type, the market is segmented into hybrid electric vehicle (HEV) and plug-in hybrid electric vehicle (PHEV).
- Based on components, the global timing belt market is segmented into tensioner, idler pulley, timing shield/cover and sprocket.
MARKET DYNAMICS
Drivers:
- The increased number of races that use varied vehicles having fluctuating engine sizes is expected to fuel the demand for high-performance vehicles including SUVs, dirt bikes, monster trucks, solar cars, sprint cars, and touring cars that consists of the interference engines. This, in turn, will lead to increased need for timing belts as it plays an important role in the interference engine.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The timing belt market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the timing belt market in these regions.
IMPACT OF COVID-19 ON TIMING BELT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the timing belt market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from timing belt market are anticipated to lucrative growth opportunities in the future with the rising demand for timing belt in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the timing belt market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ContiTech AG
- AB SKF
- Aisin Seiki Co., Ltd.
- BorgWarner Inc.
- Dayco IP Holdings, LLC
- J.K. Fenner Limited
- JTEKT Toyoda Americas Corporation
- NTN Corporation
- Schaeffler Technologies AG and Co. KG
- Tsubakimoto Chain Co.