Rising Vehicle Production & Increasing Adoption of Direct Injection Engines Shall Lead to the Growth of the Timing Belt

1. Timing Belt Market by Drive Type (Dry Belts, Chain, Belt in Oil), Component (Idler Pulley, Sprocket, Tensioner, Timing Shield/Cover), ICE & Hybrid (Passenger Car, Commercial Vehicle, HEV, PHEV), Aftermarket, and Region - Global Forecast to 2025 www.MarketsandMarkets.com

2. Passenger vehicle segment estimated to lead the timing belt market by ICE Vehicle type from 2017 to 2025 The passenger vehicle segment is estimated to lead the timing belt market, by ICE vehicle type. Increasing consumer disposable income and rise in vehicle ownership have led to a rise in the production of passenger cars with Internal Combustion Engine (ICE) and propelled the growth of the timing belt market in this segment. According to International Organization of Motor Vehicle Manufacturers (OICA), the global production of passenger cars increased from 59.89 million units in 2011 to 72.10 million units in 2016. The passenger car production in Asia Oceania increased from 40.57 million units in 2011 to 43.85 million units in 2016. Asia Oceania contributed around 60.66% of the global passenger car production in 2016 as per OICA. China contributed 55.69% of the total passenger car production in Asia Oceania in 2016. Japan and India contributed 17.95% and 8.39% of the Asia Oceania passenger car production in 2016, respectively. PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=135305591

3. Timing Chain market is estimated to be the fastest growing market from 2017 to 2025 Stringent emission regulations are now followed across several countries such as the US, Canada, UK, France and others. These have led to an increase in the adoption of direct injection engines. As direct injection engines  deploy timing chain drive, their increasing adoption would drive the growth of chains over dry belts and belt-in-oil timing drives. Also, premium brands such as BMW are preferring timing chain systems in most of their vehicle models. Hence, the timing chain market is estimated to be the fastest growing market in timing drive systems during the forecast period. Request for Customization : https://www.marketsandmarkets.com/requestCustomization.asp?id=135305591

4. The timing belt market is projected to grow at a CAGR of  5.21% during the forecast period, to   reach a market size of USD 9.22 Billion by 2025 from USD 6.14 Billion in 2017. The timing belt OE market is driven by the increasing adoption of direct injection engines and rising vehicle production globally. The growing vehicle parc as well as increase in average miles driven per year are identified as the key factors influencing the timing belt aftermarket. Tensioners are expected to lead the timing belt market, by component, in terms of value. The types of tensioners may vary depending upon their application in a timing belt and timing chain. On the basis of damping structure, auto tensioners can also be segmented into hydraulically operated and frictional systems. The usage of tensioners in timing belts and chains and relatively higher pricing have led to the growth of the timing belt market. Request Sample @ https://www.marketsandmarkets.com/requestsample.asp?id=135305591

5. Asia Oceania: Largest and fastest growing market for timing belt from 2017 to 2025 The Asia Oceania region is estimated to dominate the global timing belt market during the forecast period. Countries such as China, Japan, and India are the major countries in the region in terms of vehicle production. As per International Organization of Motor Vehicle Manufacturers (OICA), China alone contributed 29.61% of the global vehicle production in 2016, whereas Japan and India contributed 9.69% and 4.73%, respectively. Asia Oceania accounts for 54.56% of the global vehicle production and its contribution is projected to increase in the next few years. Thus, Asia Oceania is estimated to be the largest and fastest growing market for timing belt. In addition, timing belts are cheaper than timing chains and therefore preferred by OEMs for economy models. These factors have helped Asia Oceania to lead the timing belt market. Speak to analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=135305591

6. Market Ecosystem: The ecosystem of the timing belt market consists of manufacturers such as Continental (Germany), SKF (Sweden), BorgWarner (US), Tsubakimoto Chain (Japan), and others, and research institutes such as Japan Automobile Manufacturers Association (JAMA), European Automobile Manufacturers Association (ACEA), Canadian Automobile Association (CAA), and Korea Automobile Manufacturers Association (KAMA). Buy Now: https://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=135305591

7. Browse >> 78market data tables 40figures 124 pagesand in-depth TOC "Timing Belt Market by Drive Type (Dry Belts, Chain, Belt in Oil), Component (Idler Pulley, Sprocket, Tensioner, Timing Shield/Cover), Ice & Hybrid (Passenger Car, Commercial Vehicle, HEV, PHEV), Aftermarket, and Region - Global Forecast to 2025“ Early buyers will receive 10% customization on this report. This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

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