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Global Automotive Timing Chain Market: Introduction

  • Application of automotive timing chain in high performance vehicles, as it is a vital component, and increasing demand for high performance vehicles are expected to boost the market.
  • The automotive timing chain is fitted inside the engine and is covered in engine oil. The timing chain is subjected to constant stress while the engine is running and hence, chances of timing chain failure are high owing to excessive wear and elongation that might occur over time. Irregular engine oil replacements and use of low quality oil and lubricant are major reasons that can lead to failure of the timing chain in a vehicle.

Key drivers of global automotive timing chain market

  • Demand for improved engine performance and fuel economy is driving the demand for automotive timing chain. The timing chain is a vital component that helps improve vehicle performance and speed; hence, it is widely adopted in luxury vehicles, premium vehicles, and sports vehicles.
  • Government initiatives and new standards across the globe are prompting vehicle manufacturers to enhance fuel economy, which is achieved by reduction in weight of vehicle and components. For instance, Corporate Average Fuel Economy (CAFÉ) standards in Europe and Asia Pacific are paving the road for vehicles with greater fuel economy. Reduction of vehicle engine weight in order to enhance fuel economy is a key factor driving the automotive chain market.
  • Increasing demand for smooth running engines coupled with increasing demand for luxury and sport utility vehicles propel demand for comfort and luxury vehicles. For instance, sport utility vehicle accounted for 36.4%, or 29.22 million units, of the total vehicles sold globally in 2018. In terms of volume, the SUV segment expanded by 6.8% or almost 1.9 million units, as compared to 27.88 million units of SUVs sold the previous year.
  • Automotive timing chains reduce friction by 25% as compared to that witnessed when using belt technology. Moreover, timing chains may last the entire life of the vehicle and are more reliable than traditional belt technology in IC-engines. Therefore, automakers are preferring timing chains over belt technology. Research and development in timing chains, which are light weight, low cost, and possess longer life, is boosting the global automotive timing chain market.

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Developments in Gasoline Direct Injection (GDI) engines to propel global automotive timing chain market

  • Vehicle manufacturers, including Hyundai, BMW, Audi, General Motors, and Mitsubishi, offer gasoline direct injection engines in their vehicles. The GDI engine offers superior fuel economy and enhanced vehicle performance when coupled with turbochargers. In 2018, Russia, U.S., and Canada accounted for approximately 31.5%, or 9.379 million SUVs out of the total 29.77 million SUVs sold globally. Therefore, a rise in preference toward GDI engines along with a surge in sale of luxury vehicles is driving the global automotive timing chain market.

Asia Pacific to hold prominent share of global automotive timing chain market

  • Joint ventures between various OEMs to boost production and manufacturing of their production plants in countries, such as China and India, in Asia pacific are driving the automotive timing chain market in the region. For instance, in August 2018, Suzuki and Toyota entered into a joint venture under which Suzuki invested US$ 1 billion in Toyota’s plant at Bengaluru, India. This investment is aimed at expanding vehicle production facilities of both Suzuki and Toyota.

Key players operating in global automotive timing chain market

The global automotive timing chain market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the global automotive timing chain market are:

  • Tsubakimoto Europe B.V
  • Melling
  • MAPCO Autotechnik GmbH
  • Schaeffler Automotive Aftermarket GmbH & Co. KG
  • Iwis
  • SKF
  • FAI Automotive plc
  • BorgWarner Inc.
  • Cloyes
  • Ferdinand Bilstein GmbH + Co. KG
  • Dayco IP Holdings, LLC
  • BG Automotive (British Gaskets Group)
  • ContiTech AG (Continental AG)
  • Ferdinand Bilstein GmbH + Co. KG
  • S.A. Gear, Inc.

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Global Automotive Timing Chain Market: Research Scope

Global Automotive Timing Chain Market, by Vehicle Type

  • Two-wheeler
  • Three-wheeler
  • Passenger
  • Commercial

Global Automotive Timing Chain Market, by Prolusion

  • Gasoline
  • Diesel

Global Automotive Timing Chain Market, by Product Type

  • Roller Chain
  • Silent Chain

Global Automotive Timing Chain Market, by Engine Type

  • Overhead Cam Engine
  • Push Rod Engine
  • Other

Global Automotive Timing Chain Market, by Sales Channel

  • OEMs
  • Aftermarket

Global Automotive Timing Chain Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • 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.

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  • Customer Experience Maps
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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
  • Europe
  • Latin America
  • The Middle East and Africa

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Below is a snapshot of these quadrants.

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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?

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Automotive Timing Chain Market