Automotive Timing Belt Market Expected to Expand at a Steady CAGR through 2025

A timing belt also known as timing chain or cambelt is a fragment of an internal combustion engine. It primarily synchronizes the rotation of the camshaft(s) and crankshaft to make sure the engine valves are opened and closed at specific times throughout each cylinder's intake as well as exhaust strokes. The timing belt is critical to averting the piston from striking the valves in an engine. A timing belt is generally a toothed belt, that is, a drive belt which has teeth on the inside surface. Most of the modern automobile engines use timing belts or chains in order to synchronize camshaft and crankshaft rotation; some engines use gears as well to drive the camshafts directly. However, the use of a timing belt as an alternative of direct gear drive allows engine designers to keep the camshaft(s) away from the crankshaft. In engines with more than one camshafts, a timing belt empowers the camshafts to be placed far from one another. Timing chains were very common on the production of automobiles in the 1970s and 1980s. Nonetheless, when timing belts came into being, it became very popular. Timing belts are less expensive, lighter, and they operate more quietly.

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The global automotive timing belt market is likely to grow steadily during the forecast period. The rise in number of races that use diverse vehicles having fluctuating engine sizes is expected to fuel the demand for high-performance vehicles including SUVs, monster trucks, dirt bikes, sprint cars, solar cars, and touring cars that consists of the interference engines. This is going to increase the need for timing belts as it plays a vital role in the interference engine. In an interference engine, there is an unswerving contact between engine valves and piston head for improved performance. As the participation in racing events is on the rise, the market for high performance vehicle is very promising. This in turn is projected to boost the overall demand for timing belt during the forecast period.

Other drivers of the timing belt market include the use of fiber-reinforced materials in timing belts, and increased preference of customers towards longevity of their vehicles. Fiber-reinforced material increases the lifespan of a timing belt, and hence the increased use of these materials is going to fuel the automotive timing belt market during the forecast period.  Automotive timing belt manufacturers as well as OEMs are exploring various research and development activities to intensify the durability and life of automotive timing belts. Fiber-reinforced materials that include glass-fiber have greater strength-to-weight ratio, weight resistance properties and corrosion resistance, which escalates the lifespan of the material. This in turn will gain importance in the production of automotive timing belts thereby pushing the global automotive timing belt market towards a positive growth path.

The global automotive timing belt market can be segmented by vehicle type and geography. In terms of vehicle type, the market can be segregated into passenger vehicles, sports vehicles and commercial vehicles. In 2016, the passenger vehicles sector held the maximum market share of the global automotive timing belt market. High sales of passenger vehicles in the recent years along with the possibility of high growth in demand in the coming years are likely to boost the sales of timing belts in OEM and aftermarket segment.

By geography, the global automotive timing belt market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific held the maximum share of the market. This is primarily due to the rising demand for passenger cars in the region.

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Key players operating in the global automotive timing belt market are 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.

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North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)

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