DUBLIN, Dec. 15, 2017 /PRNewswire/ --
The "Global Automotive Belt Market 2017-2021" report has been added to Research and Markets' offering.
The global automotive belt market to grow at a CAGR of 3.87% during the period 2017-2021.
Global Automotive Belt Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is thermal stability in performance vehicles. Temperature-resistant materials such as HNBR (Hydrogenated Acrylonitrile-Butadiene. Rubber) with chloroprene material have been most commonly used to maintain the shape of the belt at high speed where heat is dissipated from the engine. Temperature-resistant automotive belts are widely used in performance-driven industry such as pro racing where power ratio is high, engine output is maintained at its highest output level where heat dissipation is high, and stress on the automotive belts is high.
According to the report, one driver in the market is increasing demand for fuel efficiency. Fluctuating price of the fuel has led the vehicle buyers to prefer vehicles with greater fuel efficiency. The increasing fuel prices have been compounded by declining values of local currencies wherein individual countries would face fluctuating fuel prices for importing fuel based on their local currency. For instance, China, the largest market for the automotive sector, has seen a surge by more than 10% in diesel price due to the declining value of the Chinese Yuan against the US dollar value in 2016.
Further, the report states that one challenge in the market is stringent regulations for owning cars in China. The Chinese auto market is the world's largest market with the highest producers and consumers of vehicles globally. In China, there are nearly 204 million people who possess driving licenses, but they do not own a personal car. The Chinese government is imposing stringent regulations for owning a private car and self-drive car rental due to lack of parking space in cities. This is shifting the people's focus toward on-demand taxi. The Chinese government has imposed strict restrictions on owning a private vehicle to reduce the number of cars and subsequent traffic congestion on the road in densely populated cities.
- Gates Corporation
Other prominent vendors
- Colmant Cuvelier
- Ningbo Beidi Synchronous Belt
- NingBo Fulong Synchronous Belt
- Tsubakimoto Chain
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Type
Part 07: Market Segmentation By Application
Part 08: Market Segmentation By End-User
Part 09: Regional Landscape
Part 10: Decision Framework
Part 11: Drivers And Challenges
Part 12: Market Trends
Part 13: Vendor Landscape
Part 14: Key Vendor Analysis
Part 15: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/5fn647/global_automotive?w=5
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SOURCE Research and Markets