Automotive Drive Belts: Introduction
- Automotive drive belts are required to transmit power from the vehicle engine to other systems including air compressor, air conditioner, and cooling pump. Drive belts are durable and designed to withstand high tension and temperature.
- Automotive drive belts are made from synthetic rubber products, such as chloroprene, neoprene, and ethylene propylene diene monomer rubber (EPDM rubber), and other chemical substances in order to enhance strength and maintain a rigid shape
- Drive belts provide a good combination of flexibility, as compared to that offered by other means of power transmissions. Moreover, drive belts are cost-effective, require minimal space, and are easy to install and maintain. Therefore, most automakers incorporate drive belts for power transmission in their vehicles.
Key drivers of global automotive drive belts market
- Stringent regulations and vehicle standards enacted by government organizations, which mandate automakers to boost fuel economy, are likely to compel automakers install drive belts in their vehicles, thereby driving the global automotive drive belt market. For instance, timing belts can be utilized in vehicle applications where indexing, positioning, or a constant speed ratio needs to be maintained. Timing belts, also known as synchronous belts, have a toothed profile that engages with the corresponding pulley mechanism, similar to the gear or chain drive. Therefore, frictional losses are less and chances of disengagement of the belt and pulley is also low, which in turn reduces fuel consumption. Consequently, drive belts increase fuel economy of a vehicle.
- Rise in awareness about climate change and increase in air pollution is driving government organizations to impose stringent regulations to reduce vehicle emission. Vehicle AC or a cooling fan derives its power from the vehicle engine. Therefore, the fuel consumption is directly proportional to use of vehicle AC. This, in turn, boots the demand for drive belts that offer good friction between the vehicle engine and AC compressor, which reduces fuel consumption and vehicle emissions, thereby propelling the global automotive drive belt market.
- Demand for lower vehicle maintenance costs is driving the global automotive drive belts market. Automotive drive belts are employed in vehicles to drive the cooling fan, air conditioning compressor, power steering pump, and air injection pump. Drive belts offer clean operation, since the need for lubrication is eliminated. Furthermore, quiet operations, visual warning of failure, shock absorbing qualities, and an efficiency of around 95% are a few advantages offered by drive belts. All the aforementioned factors reduce the maintenance costs of the vehicle and thereby, drive the global automotive drive market.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Asia Pacific to hold a significant share of global automotive drive belts market
- Asia Pacific is a prominent three-wheeler market globally. India is a notable market for three-wheelers, in terms of sales and production, across the globe. Furthermore, three-wheelers manufactured in India are exported globally. Presence of key three-wheeler automakers including Bajaj Auto, Mahinda and Mahindra, Piaggio Vehicles, and Atul Auto in India indicates a lucrative market for automotive drive belts, as three-wheelers use drive belts to transmit engine generated power to their wheels.
- According to OICA, Asia Pacific accounted for 47,410,253, i.e. 49.87%, of global passenger and commercial vehicles sold in 2018. Both passenger and commercial vehicles incorporate drive belts to drive air compressor, vehicle cooling systems, vacuum pump for air brakes in vehicles. All the aforementioned factors propel the automotive drive belts market in Asia Pacific.
Key players operating in global automotive drive belts market
The global automotive drive belts market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive drive belts market are:
- RS Components (SA)
- Gates Corporation
- The Timken Company
- ABB Motors and Mechanical Inc.
- C R Products Ltd
- Dayco Products, LLC
- ISC Companies
- Regal Beloit Americas, Inc.
- J. H. Fenner & Co. Limited
- Optibelt GmbH
- Goodyear Tire & Rubber Co.
- Designatronics Inc.
- Regal Beloit Americas, Inc.
- Shingle Belting
For Right Perspective & Competitive Insights on Automotive Drive Belts Market, Request for a Sample
Global Automotive Drive Belts Market: Research Scope
Global Automotive Drive Belts Market, by Vehicle Type
- Three Wheelers
- Passenger Vehicle
- Hatch Back
- Commercial Vehicle
- Light Commercial
- Heavy Commercial
Global Automotive Drive Belts Market, by Fuel Type
Global Automotive Drive Belts Market, by Type
- Serpentine Belt
- Timing Belts/Synchronous Belt
- Link Belts
- Special Belts
Global Automotive Drive Belts Market, by Application
- Air Compressor
- Cooling Fan
- Engine Cooling Pump
- Vacuum Pump (Air Brake)
Global Automotive Drive Belts Market, by Sales Channel
Global Automotive Drive Belts Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.