Luton, Bedfordshire, United Kingdom, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive Engine Belt & Hose Market.
Description and forecast for the industry:
“The global Automotive Engine Belt & Hose Market is expected to grow at 6.69% CAGR from 2022 to 2029. It is expected to reach above USD 36.18 billion by 2029 from USD 20.2 billion in 2021. "
Additionally, the increased demand for passenger cars is driving up manufacturers’ output levels, which is in turn boosting the global automotive belt market. Due to the increase in demand seen in numerous emerging countries, the production of automobiles is continuously being fuelled globally on an annual basis. This is a significant driver driving the global market for automotive belts. Automobile vehicle manufacturers have been compelled by the Environmental Protection Agency’s influence to develop highly effective, less polluting engines, which call for extremely accurate, long-lasting automotive belts. This reason has also driven the market for automobile belts, as more and more automakers are choosing belts that are effective and environmentally benign.
To improve their product range and solidify their market position globally, automotive belt manufacturers are concentrating on launching new goods. As a result, the majority of the major players invest in developed nations. This will undoubtedly increase demand for automobile belts globally. Urbanization is a trend that is rapidly expanding, which is boosting the average income of the urban population and allowing them to improve their quality of life. Additionally, the increased demand for passenger cars is driving up manufacturers’ output levels, which is in turn boosting the global automotive belt market.
“Vehicles and automotive sector have secured better future due to growing industry need”
Live Get a Free Sample Report of Automotive Engine Belt & Hose Market->
https://exactitudeconsultancy.com/reports/11433/automotive-engine-belt-hose-market/#request-a-sample
Key World Automotive Engine Belt & Hose Market Rivals Consists of
The Automotive Engine Belt & Hose Market is very fragmented, with the presence of a lot of small gamers within the developed and rising economies, such because the US, China, and India. The important thing Automotive Engine Belt & Hose gamers working within the world market embrace – Companies, like Origin Material, Gates Corporation, Midas International Corporation, Mitsuboshi Belting Ltd. Group, Helicord Transmissions Pvt. Ltd., B&B Manufacturing, The Carlstar Group LLC, Continental AG, Bearings and Power Transmission Solutions, CRP Industries Inc., BG Automotive, Hutchinson Group, Bando Chemical Industries Ltd., hold a substantial market share in the Automotive Engine Belt & Hose market.
Industry Developments->
In March 2020, Teijin Frontier, Kita Ward, Osaka) announced that it has developed an eco-friendly adhesive that doesn’t contain resorcinol-formaldehyde (RF) for rubber reinforcement fibers. The company aims to start the pilot production of rubber reinforcement fibers that use this new adhesive in 2020, and to achieve an annual production of 200,000 tons including the amount of licensed production in 2028. As for commonly used RF latex (RFL) adhesives, RF is reticulated by chemical reaction and is combined with latex, an adhesive element, to deliver adhesive performance.
In July 2022 Origin Material, inc has partnered with Intertex World Resources which is the leading distributor of synthetic rubber, processed oils, plastics, etc. The partnership further aims to hoses, belts, rubber seals, and all other mechanical rubber goods markets for automotive aftermarkets and OEMs.
Regional Insights:
The primary mechanism by which automotive belts work is friction between the pulley and the belt, which is prone to wear and tear due to continual use, resulting in lower performance, engine efficiency, and slippage. Typically, this problem is resolved by changing the belt, which is boosting the aftermarket sector of the automotive belt industry globally. Increasing demand for vehicles in the U.S. will support the growth in North America automotive timing/chain market. Strong presence of automotive manufacturing companies, such as Ford, Fiat, General Motors and many others will facilitate the growth in the market.
As a part of Automotive Engine Belt & Hose Market segmentation, our study exhibits a market analysis based on type, Market application and Historic Data:
| Attributes | Details (Current Scenario) |
| Base-Year | 2021 |
| Historic Data | 2016-2020 |
| Forecast Period | 2022-2029 |
| Regions Covered |
|
| segment by Belt Type |
|
| Segment By Application |
|
| CAGR Value | 6.69% (Current Market Analysis) |
| Regional Share Analysis | 35% Asia Pacific |
| Regional data | The European region is expected to be the fastest growing market for automotive engine belts and hoses during the forecast period. The expansion of the market is attributed to higher regional growth in the automotive sector and increased demand for mechanical and auto parts in the region. Asia Pacific is the largest contributor to the regional market. The region dominates the market due to the aggressive growth of automation in developing countries such as India and China. |
| Get Free Sample Report-> | Automotive Engine Belt & Hose Market |
Get Discount On this Report-> https://exactitudeconsultancy.com/reports/11433/automotive-engine-belt-hose-market/#inquire-for-discount
Important Facts about Automotive Engine Belt & Hose Market Report:-
The report offers an analytical study on various international sectors of the client identification entry market to provide key information.
The report defines the best market segment valuations and market drivers.
The combination of primary and secondary analytical methods provides real and reliable information.
Another part is devoted to positive developments and market statistics.
A clear and concise study of the customer identification market dynamics and value structure yields informative results.
The report evaluates the latest developments and developments in the client ID entry market.
Clients obtain market facts and figures based on industry assessments using primary and secondary research methods.
Browse Complete Premium Research Report link-
https://exactitudeconsultancy.com/reports/11433/automotive-engine-belt-hose-market/
Top Related Reports Automotive Industry Market Insights->
Automotive Fuel Tank Market
The global automotive fuel tank market is expected to grow at 5.1% CAGR from 2022 to 2029. It is expected to reach above USD 24.62 billion by 2029 from USD 15.87 billion in 2020.
https://exactitudeconsultancy.com/reports/7558/automotive-fuel-tank-market/
Automotive Turbocharger Market
Automotive turbochargers market size was valued at USD 8.82 billion in 2020 and is projected to reach USD 11.36 billion by 2029, growing at a CAGR of 2.86% from 2022 to 2029.
https://exactitudeconsultancy.com/reports/6426/automotive-turbocharger-market/
Automotive Filters Market
The global automotive filter market is expected to grow at 3.95% CAGR from 2019 to 2028. It is expected to reach above USD 22.4 billion by 2028 from USD 18.00 billion in 2019.
https://exactitudeconsultancy.com/reports/1754/automotive-filters-market/
