January 22, 2022

The Japan Herald

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Timing Belt Kits Market Sustains Competitiveness By Adoption Of Technological Innovations Upcoming Year : FactMR

5 min read

With the spread of Covid-19 pandemic, the demand for timing belt kits starting falling as lockdown was implented by the government to protect the people from the deadly virus. The manufacturers suffered accute decline in their sales in the first and second quarter of 2020, however after that it started witnessing gradual progress. In 2021, the leading players are recovering their losses by undertaking continuous research and developments to develop better products and services for attracting and retaining the customers.

Recognized players such as ContiTech Corporation, Gates Corporation, Tsubaki Incorporation, ACDelco Limited, B&B Manufacturing Company, The Carlstar Group, J.K Fenner Limited, Federal Mogul Motorparts Corporation, Bando USA, Ningbo Fulong Synchronous Belt Corporation and Dayco Corporation are actively indulged in the incorporation of various market tactics including joint ventures, collaborations, partnership agreements, technological advancements, sales agreements, product approvals, research and developments, capacity utilizations, innovations, diversifications, geographical expansions, digital marketing, strategic alliances, mergers and acquisitions, innovative launches, product portfolio expansions etc to maintain and strengthen their presence and market share throughout the world.

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Introduction

Timing belt kits, comprising a part of internal combustion engine, are popularly used to maintain engine’s efficiency and promote safe engine running. Significant attributes including wide speed range with minimal vibration and reduced noise, high mechanical efficiency, clean operation, rust resistant, and more are driving the demand for timing belt kits.

Further, wide range of application in automobiles, treadmills, water pump, and sewing machines are directly influencing the growth of timing belt kits market. In addition, the timing belt kits come with increased drive design options which save both weight and energy, thereby enhance the life cycle of the vehicle. This is the key factor favoring the global timing belt kits market

Asia Pacific to Register Significant Growth in Timing Belt Kits Market

With large scale vehicle production in emerging economies such as China and India, the timing belt kits market is expected to witness steady growth in the Asia Pacific region. According to International Organization of Motor Vehicle Manufacturers, Asia Pacific accounts over 50% of the global vehicle production and is estimated to increase in the coming years with growing population. This is likely to be a major growth driver of the timing belt kits market in Asia Pacific.

Replacement of Timing Belt System and Growth in Automotive After market to Auger Well for the Global Market

Automotive aftermarket has been consistently growing since past several years with increasing production of vehicles, both commercial and passenger vehicles worldwide. This has given potential opportunities for the aftermarket with increasing number of maintenance services and replacement of automotive parts, timing belt kits being one of them.

Timing belt kits, that cover timing chains, timing belts and tensioners, are an integrated system in a vehicle that ensure efficient running of the vehicle under severe drive conditions. According to manufacturers of automotive timing belt kits, the entire system needs to be changed in case of wear and tear of one or more components of the kits in order to ensure optimum performance maintenance.

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New Innovations to Drive Adoption of Timing Belt Kits in Vehicles – Key Factor Supporting Market’s Growth

Market participants are focusing on innovations in timing belt kits to meet growing demand from customers. Potential opportunities exist for timing belt market participants from an innovation standpoint, especially in Asia Pacific, Europe and North America. For instance, Tsubakimoto recently introduced automotive timing belt chain in European countries. Zerotech – the company’s innovation in this space – offers improved energy savings along with reduced carbon dioxide emissions.

In addition, it also offers reduction in friction between mating parts and at the same time maintaining high level of performance and reduced belt stretching, thus offering longer operational life and durability. Such innovations are expected to support the proliferation of timing belt kits, especially in the automotive aftermarket in the coming years, thereby supporting the growth of the global timing belt kits market.

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Adoption of Fiber Reinforced Material, Typically Glass Fibers, to Gain High Traction

Adoption of fiber reinforced materials in timing belts used in automotive can enhance the life span of the belt, thus reducing the replacement frequency and costs. OEMs are focusing on exploring high quality composite material for increasing the durability of the belt and life of the rubber used in timing belts.

This triggered the adoption of glass fiber composite along with rubber that enhances lifespan, improves strength, and provides high weight and corrosion resistance. Use of glass fiber, owing to its superior weight to strength ratio, is expected to gain high traction in this space in the coming years, which is expected to fuel the sale of timing belt kits during the forecast period.

Key Company Developments

With aftermarket for automotive gaining high traction, participants involved in power transmission drive belts are focusing on enlarging their product portfolios, timing belt kit product range and belts with advanced material to serve the increasing aftermarket demands. Keeping this in focus, automotive companies are developing high quality belt kits with high maintenance ranges suitable for high drives.

Regional Segments Analyzed Include

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC, S. Africa, N. Africa)

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Highlights from the Report

  • Elaborated scenario of the parent market
  • Transformations in the market dynamics
  • Detailed segmentation of the target market
  • Historical, current and forecast market size based on value and volume
  • Latest industry developments and trends
  • Competition landscape
  • Strategies adopted by the market players and product developments made
  • Potential and niche segments, along with their regional analysis
  • Unbiased analysis on performance of the market
  • Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness

For More Insight- https://www.einpresswire.com/article/556334023/what-makes-aluminum-foil-wraps-renowned-for-packaging-cosmetic-products-report-fact-mr

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