V Belts Market Growth Factors, Key Players and Regional Perspectives till 2023
The Global V Belts Market is subject to witness a substantial growth due to the growing automotive sector, modernization of agriculture and farm equipment in developing economies across the globe. Introduction of modern machineries in the agriculture sector for development of highly advanced farm equipment is anticipated to derive demand for V belts over the forecast period. Growing automotive sector coupled with wide range application of variable speed belts in industrial processes are some of the prominent factors for market growth. Globally, the V belts market is predicted to grow at a significant CAGR in forecast period, providing numerous opportunities for market players to invest in research and development in the V belt market.
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