Global Belt Drives Strategic Analysis Report 2023-2030: Mechanical Belts & Pulleys in Power Transmission Applications - The Cornerstone for Present & Future Growth

DUBLIN, June 15, 2023 /PRNewswire/ -- The "Belt Drives: Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

Global Belt Drives Market to Reach $9.1 Billion by 2030

The global market for Belt Drives estimated at US$6.6 Billion in the year 2022, is projected to reach a revised size of US$9.1 Billion by 2030, growing at a CAGR of 4.1% over the analysis period 2022-2030.

Material Handling, one of the segments analyzed in the report, is projected to record a 3.9% CAGR and reach US$2.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Industrial Machinery segment is readjusted to a revised 4.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 5.7% CAGR

The Belt Drives market in the U.S. is estimated at US$1.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2030 trailing a CAGR of 5.7% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 3.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2030.

Looking Ahead to 2023

Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.

Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• An Introduction to Belt Drives
• Belt Drives: Current Market Scenario and Outlook
• While Developed Regions Remain Major Revenue Contributors, Developing Regions Emerge as Fast Growing Markets
• World Belt Drives Market by Region (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions
• Relatively Stable Economic Environment Favors Market Expansion
• COMPETITIVE SCENARIO
• Leading Players in the World Belt Drives Market
• Recent Market Activity
• Belt Drives - Global Key Competitors Percentage Market Share in 2022 (E)
• Impact of Covid-19 and a Looming Global Recession
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

MARKET TRENDS & DRIVERS

• Critical Importance of Mechanical Belts & Pulleys in Power Transmission Applications: Cornerstone for Present & Future Growth of Belt Drives Market
• Widespread Adoption of Industrial Automation Creates Fertile Environment
• Belt Drives Market Gears Up for Industry 4.0 Environments
• Belt Drives Grab the Limelight Amid Growing Relevance of Energy Efficiency
• Strong Demand for Conveyor Equipment Promotes Demand
• Industrial Machinery Sector Offers Robust Opportunities for Belt Drives Market
• Material Handling Equipment: Prominent End-Use Vertical
• Agriculture Machinery Emerges as Fastest Growing End-Use Segment
• Mining Industry Remains a Major Revenue Contributor
• Belt Drives Gain Traction in Oil & Gas Sector
• Steady Growth in Global Power Generation Activity Spurs Demand
• Novel Opportunities Identified in Food & Beverage Industry
• Timing Belts Emerge as Ideal Solution for Food Industry
• Sophisticated Belt Drives Step In to Address the Dynamic Requirements of Modern Automotive Vehicles
• Focus on Fuel Efficiency Promotes Interest in Automotive Belt Drives
• CVT Technology Poised to Accelerate Adoption of Belt Drives
• Growing Focus on Hybrid Vehicles Seeks Further Improvements in Belt Drive Technology
• Replacement Demand Enthuses Automotive Belt Drives Market
• eBikes & Bicycles: Emerging Vertical for Belt Drives
• Technology Advances to Spur Growth Momentum
• 3D Printing Technology Transforming Pulley and Belt Design
• Applications Drive Innovation in Pulley and Belt Functionality
• Metal Belts on the Rise
• New Materials to Drive Opportunities for Timing Belts

FOCUS ON SELECT PLAYERS (Total 116 Featured) 

• Arntz Optibelt Group (Germany)
• Colmant Cuvelier RPS S.A.S. (France)
• ContiTech AG (Germany)
• Dayco Products, LLC (USA)
• Gates Corporation (USA)
• Michelin (France)
• Mitsuboshi Belting Ltd. (Japan)
• Regina Catene Calibrate Spa (Italy)
• The Timken Company (USA)
• Tsubakimoto Chain Co. (Japan)

For more information about this report visit https://www.researchandmarkets.com/r/crre33

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