The timing belt or timing chain or cam belt is a belt with teeth on the inside surface. It is a component of a vehicle’s internal combustion engine and is invisible from outside. In internal combustion engines, timing belts control the opening and closing of engine’s valves and synchronizes the rotation of a crankshaft or cam shafts. If the timing belt is not replaced at proper intervals it will cause vehicle’s engine to damage. Timing belts are an important component of interference engine because without proper synchronization the valves with interfere with the functioning of pistons causing the engine valves to be bend or broken. The majority of engines equipped with timing belts have interference engines.
The market is segmented into original equipment (OE) type and aftermarket type. By vehicle type the market is classified into passenger vehicles, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). The share of passenger vehicles is more the share of commercial vehicles.
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By geography the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is a major automotive timing belt market. The U.S. is the dominant market in the region as is the second largest automotive and passenger vehicle market in the world. Canada and Mexico are other major markets in North America. Europe is another major automotive timing belt market. In North America in the automotive timing belt market the market share of commercial vehicles is more than passenger vehicles. Germany is the largest market in this region as it is the largest automotive market in Europe and its passenger vehicle market is fourth largest in the world. The U.K, France, Italy, Spain, Belgium, Sweden and Netherlands are other major markets in Europe. Asia Pacific is one of the largest automotive timing belt market. China is the largest market in this region as it is the largest automotive and passenger vehicle market in the world. Japan and India and significant markets in this region as they are third and fifth largest passenger vehicle markets in the world respectively. Middle East & Africa is another major market in automotive timing belt led by Iran, Turkey, Saudi Arabia and South Africa. Latin America is also a major automotive timing belt market dominated by Brazil and Argentina.
Rising demand of interference engines in sports utility vehicles (SUVs), sports vehicles among others is anticipated to increase the demand of automotive timing belts. Rising production of vehicles is also anticipated to increase the demand for automotive timing belts. An opportunity for the automotive timing belt market is the rising demand of fuel efficient and low emission electric and hybrid electric vehicles across the world. Major automotive manufacturers such as Volvo Car Corp., BMW AG and Daimler AG intends to increase its production and sale of electric vehicles.
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The report highlights the various competitive strategies adopted by key players operating in the market to gain market share. Company profiles include company details, market presence by geography and segments, strategic overview, SWOT analysis and historical revenue. The report also contains details of market share analysis of key players in the market. The major manufacturing firms operating in the automotive timing belt market are B&B Manufacturing (the U.S.), The Carlstar Group LLC (the U.S.), CRP Industries Inc. (the U.S.), J.K. Fenner (India) Limited (India), Gates Corporation (the U.S.), ACDelco (the U.S.), Bando USA (the U.S.), Federal-Mogul Corporation (the U.S.), Dayco Products LLC (the U.S), The Goodyear Tire & Rubber Co. (the U.S), Ningbo Beidi Synchronous Belt Co. Ltd. (China), Ningbo Fulong Synchronous Belt Co. Ltd. (China), SKF Group (Sweden), Tsubakimoto Chain Co. (Japan) and MAHLE Aftermarket Inc. (the U.S.).