Wilmington, Delaware, United States, Transparency Market Research, Inc., Oct. 30, 2024 (GLOBE NEWSWIRE) -- The automotive metal timing chain market (Markt für Kfz-Steuerketten aus Metall ) was worth US$ 12.79 billion in 2021. A CAGR of 4.1% is predicted for the period 2022 to 2031. Global automotive metal timing chain sales are predicted to reach US$ 19.28 billion by 2031.
Manufacturers of automotive metal timing chains can support market growth by providing vehicle owners and repair shops with high-quality replacement chains and components. The growing aftermarket automotive parts market, driven by increasing vehicle age and the need for replacement parts, makes this possible.
The importance of vehicle safety and reliability drives the demand for durable and robust automotive metal timing chains that can withstand high temperatures, extreme conditions, and heavy loads, ensuring optimal engine performance and minimizing the risk of engine failure or malfunction.
The growing aftermarket automotive parts market, driven by increasing vehicle age and the need for replacement parts, creates opportunities for automotive metal timing chain manufacturers to supply high-quality replacement chains and components to vehicle owners and repair shops, supporting market growth.
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The need for strong and resilient automotive metal timing chains that can tolerate high temperatures, harsh environments, and large loads is driven by the significance of vehicle safety and dependability. These chains provide optimal engine performance and reduce the possibility of engine failure or malfunction.
Global Automotive Metal Timing Chain Market: Competitive Landscape
A few large vendors control most of the automotive metal timing chain market share. Firms invest heavily in research and development to create durable, lightweight, and versatile products.
It has become a common practice for major players to acquire other companies and expand their product portfolios. Some key market players profiled by Transparency Market Research include the following:
- BG Automotive (British Gaskets Group)
- BorgWarner Inc.
- Cloys
- Continental AG
- Dayco IP Holdings, LLC
- FAI Automotive plc
- Ferdinand Bilstein GmbH + Co. KG
- Iwis
- MAPCO Autotechnik GmbH
- Melling
- NTN-SNR
- Schaeffler Automotive Aftermarket GmbH & Co. KG
- SKF
- Tsubakimoto Europe B.V
- Other Key Players (Renold plc, LG Balakrishnan and Brothers Ltd.)
Key Findings of the Market Report
- A notable CAGR of 4.1% is predicted for the gasoline engine segment over the forecast period.
- The overhead cam engine segment is forecast to expand at a CAGR of over 4% during the forecast period.
- By 2021, Asia Pacific held a 46.18% market share for the automotive metal timing chain market.
- A significant market for automotive metal timing chains, North America held a 21.27% share of the global market in 2021.
- In 2021, Europe was a major market for automotive metal timing chains, holding a value share of 24.66%.
Global Automotive Metal Timing Chain Market: Growth Drivers
- Automotive metal timing chains are in high demand for their role in providing accurate and reliable engine timing in internal combustion engines. Automotive manufacturing is experiencing continual growth, which in turn is being driven by increasing consumer demand globally.
- Automotive metal timing chains are in high demand due to strict regulations to reduce vehicle emissions and increase fuel efficiency. As compared to belts and other timing systems, chains offer better durability, reliability, and performance, contributing to more environmentally friendly and efficient vehicles.
- Developing high-performance engines with variable valve timing and turbocharging systems, among other ongoing advances in engine design and technology, raises the complexity and demand for sophisticated automotive metal timing chains that can provide accurate and reliable engine timing under various operating conditions.
Global Automotive Metal Timing Chain Market: Regional Landscape
- Asia Pacific is the world's car production leader, increasing the market's need for metal timing chains. Technological advancements in engine design also boost the adoption of metal timing chains.
- Timing chains are in high demand due to the expanding aftermarket parts market. A strict legal requirement ensures that timing chain items are of the highest quality. As vehicle safety becomes more important, metal timing chains are in greater demand.
- The growing middle class in Asia Pacific is the main driver of car ownership and aftermarket demand. Government programs that support electric and hybrid vehicles impact the dynamics of the timing chain supplier industry.
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Key Developments
- BG Automotive (British Gaskets Group)- British Gaskets Group supplies components for the automotive aftermarket. Gaskets, engine components, and timing chains are among the products included in this category. As replacement parts providers for vehicles, they play an essential role.
- BorgWarner Inc.: BorgWarner is one of the world's leading manufacturers of combustion engines, hybrid cars, and electric vehicles. Their expertise includes timing drive components and propulsion systems. The innovative technologies offered by BorgWarner enhance vehicle efficiency, reduce emissions, and enhance vehicle performance.
- Cloys: A leading manufacturer of precision timing chains, Cloys specializes in timing drive systems. In the automotive OEM (Original Equipment Manufacturers) and aftermarket, they are known for their quality and precision.
Global Automotive Metal Timing Chain Market: Segmentation
Vehicle Type
- Two Wheelers
- Three Wheelers
- Passenger Vehicle
- Light Commercial Vehicle
- Trucks
- Buses & Coach
Engine Type
- Overhead Cam Engine
- Push Rod Engine
- Others
Type
- Roller Chain
- Bush Chain
- Toothed/Silent Chain
Sales Channel
- OEM
- Aftermarket
Propulsion Type
- Gasoline Engine
- Diesel Engine
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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