Automotive Belt Market – Rising demand for vehicles Strikes Growth in Automotive Industry

Press Release

Automotive Belt Market – Introduction

An automotive belt is used in a vehicle to transmit power from a rotating shaft to the other shaft. This belt acts as a connecting link between two shafts. The shafts have pulleys attached to them which are driven by the motor or engine. The belts are looped over the pulleys which enables them to transmit power. The power and thrust generated by the engine or motor rotate the shaft which in turn, drives the pulley. This allows the automotive belt to rotate and transfer the power generated to the other pulley through friction.

The automotive belts are also utilized as the timing belts/chains to synchronize the functions of engine valves via camshaft. The automotive belts are manufactured from high tensile strength materials such as ethylene propylene dyne monomer rubber (EPDM rubber), neoprene, and chloroprene.

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Automotive Belt Market – Competitive Landscape

Continental AG

Continental AG was founded in 1871, and currently has headquarters in Hanover, Germany. Continental AG is a leading supplier of components in the automobile industry. The company operates through two major groups: Automotive group and rubber group, which are further divided into various business verticals such as powertrain, chassis & safety, interior, tires, and services. The company manufactures and supplies automotive belts across the globe. The company has a global presence and operates through several locations across the Americas, Asia Pacific, Europe, and Middle East & Africa. The company also provides control units such as electric vacuum control units and safety control units.

Gates Corporation

Gates Corporation was founded in 1911. The company’s headquarters are located in Denver, Colorado, U.S. The company manufactures and supplies power transmission and fluid power solutions across the globe. The company’s power transmission products include V-belts, synchronous belts, CVT belts, and micro V-belts. The company has over 14,000 employees and operates through manufacturing facilities located in major regions including North America and APAC.

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B&B MANUFACTURING was founded in 1961. Presently, it has headquarters in Valencia, California, U.S. The company specializes in the manufacturing of automotive parts across the globe. The company manufactures and sells products such as poly V-belts, poly V-sheaves, gear racks, and roller chain sprockets.

Mitsuboshi Belting Ltd.

Mitsuboshi Belting Ltd. was founded in 1919. Presently, it has headquarters at Jurong Port Road, Singapore. The company operates through the following business segments: Power transmission belts and related products, conveyor belts and systems related products, engineering plastics, engineering structural foam, waterproofing and water shielding sheet, metal nanoparticles related products. The company manufactures belts for automobiles, motorcycles, industrial transmission, and conveyor belt systems.

Rising demand for vehicles, globally, is a major factor driving the automotive belts market. Moreover, demand for vehicles is increasing consistently, as Europe, Asia Pacific, and North America are major producers and consumers of automobiles globally. The disposable income and per capita income of people in these regions is increasing, which in turn is driving sales of vehicles. Sales and production of vehicles are projected to directly impact the demand for automotive belt during the forecast period.

Automotive Belt Market – Segmentation

The global automotive belt market can be segmented based on:

  • Type
  • Material Type
  • Sales Channel
  • Vehicle Type

Automotive Belt Market – By Type

Based on type, the automotive belt market can be classified into:

  • Timing Belts
  • Drive Belts
    • Single V-Belt
    • Multi-function V-Belt
  • Serpentine Belt

Automotive Belt Market – By Material Type

Based on material type, the automotive belt market can be split into:

  • Fiber
  • Rubber
  • Other

Automotive Belt Market – By Sales Channel

Based on sales channel, the automotive belt market can be bifurcated into:

  • OEM
  • Aftermarket

Automotive Belt Market – By Vehicle Type

Based on vehicle type, the automotive belt market can be segregated into:

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles