The global automotive timing belt market is anticipated to grow at a CAGR of 4.0% during the forecast period (2022-2028). The automotive timing belt which is also known as the timing chain is one of the vital components of the internal combustion engine. The most basic and primary function of the timing belt is to synchronize the rotation of crankshaft and camshafts in such a way that the engine valves are opened and closed at specific intervals during each intake and exhaust stroke. The timing belts are made from rubbers and polymers which are lighter, low in cost, and also operate without making noise. These factors can drive the demand for automotive timing belts. Additionally, the automotive manufacturing companies are working regularly for improving engine and fuel efficiency by making small size engines, injecting direct fuel, and increase speed. The rising trend of car racing, where high-performance vehicles with diverse engines are used is also boosting the growth of the market. However, the automotive industry is more going towards electric vehicles (EVs). EVs comprise an electric motor in place of a fuel combustion engine. As a result, the rising adoption of EVS is restraining the growth of the market.
Some major players in the market include B&B Manufacturing, Continental AG, and The Carlstar Group LLC, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in July 2019, Schaeffler India Ltd. launched a new INA timing chain kit for 1.4l TSI engines of the VW Group. Additionally, in October 2019, Continental AG acquired assets and business of CPR’s Industries’ Continental-related belts and bet kits program for bringing all its Continental Branded aftermarket belt products under its North American Business.
(Get 15% Discount on Buying this Report)
Get Sample Copy of automotive timing belt market at:
https://orionmarketreports.com/request-sample/?id=101367&submit=Request+Sample%0D%0A
Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Sales Channel
By Vehicle Type
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
A full report of automotive timing belt market is available at:
https://orionmarketreports.com/global-automotive-timing-belt-market/101367/
Competitive Landscape-
B&B Manufacturing, Continental AG, and The Carlstar Group LLC, among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Global Automotive Timing Belt Market Report by Segment
By Type
Dry Belts
Chain
By Sales Channel
Original Equipment Manufacturer [OEM]
Aftermarket
By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
