PUBLISHER: IMARC | PRODUCT CODE: 1423197
PUBLISHER: IMARC | PRODUCT CODE: 1423197
Timing Belt Market Report by Drive Type, Component, Vehicle Type, Distribution Channel, and Region 2024-2032
Abstract
The global timing belt market size reached US$ 7.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2024-2032.
A timing belt is a ribbed belt that is used to create a synchronisation between the crankshaft's rotation and the engine valves so that the valves will open and close at an appropriate time. A timing belt is fixed under a timing cover situated in front of the engine. It is commonly manufactured out of high-quality rubber with nylon-reinforced cords inside to extend the life of the belt. A timing belt is also used to drive some additional components like water pump, oil pump, balance shaft, etc. which are also required to be synchronised with the crankshaft.
Rising sales of new automobiles along with an increasing demand from the replacement market is expected to catalyse the global demand of timing belts. Automobile sales have been strong in both developed and emerging markets after a period of sluggish growth in many regions as a result of the global economic slowdown. This has catalysed the demand of timing belts from the OEM segment. Although OEM sales account for a major share of the global timing belt market, the bulk of the demand comes from the replacement segment. The size of the replacemet market for timing belts is significantly higher than the OEM market as most timing belts normally need to be replaced as part of regular maintenance every 60,000 to 100,000 miles. Europe and North America currently account for the bulk of the global timing belt market. The Asia pacific region, however, represents the fastest growing market catalysed by a strong growth in automobile sales in China, India, South Korea, Thailand, etc.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global timing belt market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on drive type, component, vehicle type and distribution channel.
Breakup by Drive Type:
Dry Belts
Chain
Belt in Oil
Based on the drive type, the market has been segmented into dry belts, chains and belt in oil.
Breakup by Component:
Tensioner
Idler Pulleys
Timing Shield/Cover
Sprocket
Based on the component, the market has been segmented into tensioner, idler pulleys, timing shield/cover and sprocket.
Breakup by Vehicle Type:
Passenger Vehicle
Commercial Vehicle
Based on the vehicle type, the market has been segmented into passenger vehicle and commercial vehicle.
Breakup by Distribution Channel:
OEM
Aftermarket
Based on the distribution channel, the market has been segmented into OEM and aftermarket.
Breakup by Region:
Europe
North America
Asia Pacific
Middle East and Africa
Latin America
Region-wise, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America.
Competitive Landscape:
The competitive landscape of the market 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.
Key Questions Answered in This Report
- 1. What was the size of the global timing belt market in 2023?
- 2. What is the expected growth rate of the global timing belt market during 2024-2032?
- 3. What are the key factors driving the global timing belt market?
- 4. What has been the impact of COVID-19 on the global timing belt market?
- 5. What is the breakup of the global timing belt market based on the vehicle type?
- 6. What are the key regions in the global timing belt market?
- 7. Who are the key players/companies in the global timing belt market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Timing Belt Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Drive Type
- 5.5 Market Breakup by Component
- 5.6 Market Breakup by Distribution Channel
- 5.7 Market Breakup by Vehicle Type
- 5.8 Market Breakup by Region
- 5.9 Market Forecast
6 Market Breakup by Drive Type
- 6.1 Dry Belts
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Chain
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Belt in Oil
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Component
- 7.1 Tensioner
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Idler Pulleys
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Timing Shield/Cover
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Sprocket
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Distribution Channel
- 8.1 OEM
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Aftermarket
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Vehicle Type
- 9.1 Passenger Vehicle
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Commercial Vehicle
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
10 Market Breakup by Region
- 10.1 Europe
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 North America
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Asia Pacific
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 Middle East and Africa
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Latin America
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
11 Global Timing Belt Industry: SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Global Timing Belt Industry: Value Chain Analysis
- 12.1 Overview
- 12.2 Research and Development
- 12.3 Raw Material Procurement
- 12.4 Manufacturing
- 12.5 Marketing
- 12.6 Distribution
- 12.7 End-Use
13 Global Timing Belt Industry: Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Global Timing Belt Industry: Price Analysis
- 14.1 Price Indicators
- 14.2 Price Structure
- 14.3 Margin Analysis
15 Timing Belt Manufacturing Process
- 15.1 Product Overview
- 15.2 Raw Material Requirements
- 15.3 Manufacturing Process
- 15.4 Key Success and Risk Factors
16 Competitive Landscape
- 16.1 Market Structure
- 16.2 Key Players
- 16.3 Profiles of Key Players
- 16.3.1 B&B Manufacturing
- 16.3.2 ContiTech
- 16.3.3 The Carlstar Group
- 16.3.4 Gates Corporation
- 16.3.5 J.K. Fenner Limited
- 16.3.6 ACDelco
- 16.3.7 Federal-Mogul Motorparts Corporation
- 16.3.8 Bando USA
- 16.3.9 Dayco
- 16.3.10 Ningbo Beidi Synchronous Belt
- 16.3.11 Goodyear SKF
- 16.3.12 Ningbo Fulong Synchronous Belt
- 16.3.13 MAHLE Aftermarket
- 16.3.14 Tsubaki
List of Figures
- Figure 1: Global: Timing Belt Market: Major Drivers and Challenges
- Figure 2: Global: Timing Belt Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Timing Belt Market: Breakup by Drive Type (in %), 2023
- Figure 4: Global: Timing Belt Market: Breakup by Component (in %), 2023
- Figure 5: Global: Timing Belt Market: Breakup by Distribution Channel (in %), 2023
- Figure 6: Global: Timing Belt Market: Breakup by Vehicle Type (in %), 2023
- Figure 7: Global: Timing Belt Market: Breakup by Region (in %), 2023
- Figure 8: Global: Timing Belt Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 9: Global: Timing Belt Industry: SWOT Analysis
- Figure 10: Global: Timing Belt Industry: Value Chain Analysis
- Figure 11: Global: Timing Belt Industry: Porter's Five Forces Analysis
- Figure 12: Global: Timing Belt (Dry Belts) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Timing Belt (Dry Belts) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Timing Belt (Chain) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Timing Belt (Chain) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Timing Belt (Belt in Oil) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Timing Belt (Belt in Oil) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Timing Belt (Tensioner) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Timing Belt (Tensioner) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Timing Belt (Idler Pulleys) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Timing Belt (Idler Pulleys) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Timing Belt (Timing Shield/Cover) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Timing Belt (Timing Shield/Cover) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: Timing Belt (Sprocket) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: Timing Belt (Sprocket) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: Timing Belt Market: Sales through OEM (in Million US$), 2018 & 2023
- Figure 27: Global: Timing Belt Market Forecast: Sales through OEM (in Million US$), 2024-2032
- Figure 28: Global: Timing Belt Market: Sales through Aftermarket (in Million US$), 2018 & 2023
- Figure 29: Global: Timing Belt Market Forecast: Sales through Aftermarket (in Million US$), 2024-2032
- Figure 30: Global: Timing Belt (Passenger Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Global: Timing Belt (Passenger Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: Global: Timing Belt (Commercial Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: Global: Timing Belt (Commercial Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: Europe: Timing Belt Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: Europe: Timing Belt Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: North America: Timing Belt Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: North America: Timing Belt Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: Asia Pacific: Timing Belt Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: Asia Pacific: Timing Belt Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: Middle East and Africa: Timing Belt Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: Middle East and Africa: Timing Belt Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Latin America: Timing Belt Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Latin America: Timing Belt Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: Timing Belt Manufacturing: Process Flow
List of Tables
- Table 1: Global: Timing Belt Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Timing Belt Market Forecast: Breakup by Drive Type (in Million US$), 2024-2032
- Table 3: Global: Timing Belt Market Forecast: Breakup by Component (in Million US$), 2024-2032
- Table 4: Global: Timing Belt Market Forecast: Breakup by Distribution Channel (in Million US$), 2024-2032
- Table 5: Global: Timing Belt Market Forecast: Breakup by Vehicle Type (in Million US$), 2024-2032
- Table 6: Global: Timing Belt Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 7: Timing Belt: Raw Material Requirements
- Table 8: Global: Timing Belt Market Structure
- Table 9: Global: Timing Belt Market: Key Players
