PUBLISHER: The Business Research Company | PRODUCT CODE: 1409229
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409229
“Automotive Metal Timing Chain Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive metal timing chain market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive metal timing chain? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive metal timing chain market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
An automotive metal timing chain is an internal engine component designed to synchronize the rotation of the crankshaft and camshaft, ensuring the precise timing required for fuel intake and exhaust release within the engine.
The primary types of automotive metal timing chains include roller chains, bush chains, and toothed or silent chains. Toothed or silent chains, a type of non-roller chain, encompass various variations such as engineering steel chains, flat-top chains, leaf chains, and silent chains. These chains cater to different propulsion types including gasoline engines, diesel engines, and others, and are utilized in various engine designs such as overhead cam engines, pushrod engines, and others. They find application across diverse vehicle types, including two-wheelers, three-wheelers, passenger vehicles, light commercial vehicles, trucks, buses, and coaches. Automotive metal timing chains are available through different sales channels, including original equipment manufacturers (OEMs) and the aftermarket.
The automotive metal timing chain market research report is one of a series of new reports from The Business Research Company that provides automotive metal timing chain market statistics, including automotive metal timing chain industry global market size, regional shares, competitors with an automotive metal timing chain market share, detailed automotive metal timing chain market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive metal timing chain industry. This automotive metal timing chain market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive metal timing chain market size has grown strongly in recent years. It will grow from $12.99 billion in 2023 to $13.7 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. During the historical period, the growth in automotive metal timing chains can be primarily attributed to several factors. These include the dominance of internal combustion engines, the necessity for durability and high-performance components within engines, market standardization of timing chain systems, limited alternatives to fulfill engine timing needs, adherence to regulatory compliance standards, and the overall growth in global automotive production, which contributed to the demand for these components.
The automotive metal timing chain market size is expected to see strong growth in the next few years. It will grow to $16.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period is expected to result from several factors, including the transition towards electric vehicles, an increased lifespan expectancy of vehicles, sustained material growth in the automotive industry, the expanding global markets for automotive products, and the enforcement of stricter emission standards. Major trends projected in this period encompass a focus on advanced manufacturing processes, the integration of smart technologies into automotive components, a heightened emphasis on environmental concerns and sustainability practices, increased attention towards durability and reliability aspects, as well as the adherence to regulatory compliance and stringent quality standards within the automotive metal timing chain sector.
The expansion of the automotive manufacturing sector is anticipated to drive the growth of the automotive metal timing chain market. The automotive manufacturing sector encompasses activities related to designing, building, supplying, and selling automobiles. The metal timing chain is a crucial component in the automotive industry, responsible for synchronizing the rotation of the crankshaft. This synchronization enables the precise opening and closing of the engine's inlet and outflow vents during each engine cycle. As the automotive manufacturing sector expands, the demand for metal timing chains is expected to grow. For example, in January 2023, Statistics Canada reported a 1.9% increase in the total number of registered road motor vehicles in Canada in 2021, reaching 26.2 million. Additionally, motor vehicle manufacturing in Canada showed growth from 3,973,874 in August 2022 to 4,123,572 in December 2022. Thus, the expansion of the automotive manufacturing sector is a key driver for the automotive metal timing chain market.
The growth of consumer spending is a significant contributor to the automotive metal timing chain market. Consumer spending refers to the total expenditure by households and individuals on goods and services within a specific period, reflecting overall demand for goods and contributing significantly to a country's economic activity. The demand for automotive metal timing chains is closely tied to consumer spending, as this component plays a crucial role in internal combustion engines. For instance, data from the Bureau of Economic Analysis (BEA) in October 2023 indicates an increase in disposable income for Americans, rising from $18,247.8 billion in the first quarter of 2022 to $19,880.2 billion in the first quarter of 2023. This increase in disposable income signifies greater consumer spending power, thereby driving demand for automotive components, including metal timing chains.
Product innovation emerges as a key trend in the automotive metal timing chain market. Major companies operating in this market are introducing innovative products to maintain their competitive positions. For instance, in February 2023, Continental AG, a Germany-based company in the automotive metal timing chain sector, launched a new generation of polyurethane (PU) timing belts called synchromotion. Synchromotion is a steel cord-reinforced polyurethane belt that is flexible, abrasion-resistant, and durable, with a polyurethane cover ensuring more efficient power transmission. This innovative product caters to a range of applications, including synchronous conveyor systems, transport devices with sliding rails, and positioning and reversing drives in linear and control engineering. The focus on product innovation enhances companies' competitiveness and contributes to the overall growth of the automotive metal timing chain market.
Major companies in the automotive metal timing chain market are focusing on innovation, introducing products such as the X3 Premium Chain to aid customers in choosing the right chain solution. The X3 Premium Chain is part of Donghua Limited's three drive chain ranges, including Standard, Solution, and Premium. These chains are specifically designed, manufactured, and tested for outstanding accuracy and performance in challenging conditions. For example, in May 2022, Donghua Ltd., a UK-based industrial equipment company, launched the X3 premium chain. This chain features a unique pin coating, optimized plate geometry, and high precision stamping, providing three times the performance in terms of wear resistance, fatigue resistance, and high-speed performance compared to comparable roller chains.
In January 2022, BBB Industries LLC, a US-based manufacturer of hydraulic and air disc brake calipers, alternators, and other automotive parts, acquired MAPCO Autotechnik GmbH for an undisclosed amount. This strategic acquisition allows BBB Industries LLC to expand its portfolio into Germany, reaching new product categories and regions. It enhances the company's value by offering superior products and services to both new and existing customers. MAPCO Autotechnik GmbH is a Germany-based company operating in the automotive metal timing chain market, contributing to the growth and diversification of BBB Industries LLC's offerings.
Major companies operating in the automotive metal timing chain market report are BG Automotive, BorgWarner Inc., Continental AG, Dayco IP Holdings LLC, FAI Automotive plc, Ferdinand Bilstein GmbH + Co. KG, Iwis Motorsysteme GmbH & Co. KG, Melling, NTN Europe, SKF, Tsubakimoto B.V, Renold Plc., L.G.Balakrishnan and Brothers Ltd., Daido Metal Co. Ltd., MAHLE GmbH, ROLON Group, RYCO Group, TIDC, FBK Corporation, Aisin Corporation, B&B Manufacturing, The Carlstar Group LLC, ACDelco, Tenneco Inc., Cloyes Gear & Products Inc., Egge Machine Company, Schaeffler Automotive Aftermarket GmbH & Co. KG, Dongguan Timing Chain Co. Ltd., Molymet S.A., Sichuan Tianyi Timing Chain Co. Ltd. .
Asia-Pacific was the largest region in the automotive metal timing chain market in 2023. The regions covered in the automotive metal timing chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive metal timing chain market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive metal timing chain market consists of sales of timing chains, timing belts, and timing chain kits. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.