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The automotive belt tensioner pulleys market size is estimated to grow at a CAGR of 4.47% between 2023 and 2028. The market size is forecast to increase by USD 276.61 million. The growth of the market depends on several factors, such as the production shift to low-cost countries, the increasing demand for high-performance vehicles, and the improvement in the aftermarket segment.
This automotive belt tensioner pulleys market report extensively covers market segmentation by application (passenger cars and commercial vehicles), type (automatic tensioner and manual tensioner), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for high-performance vehicles is the key factor driving market growth. An upsurge in favor of various types of automobile racing helps drive the global automotive belt tensioner pulleys market. There has been a boost in the variety of races with different vehicles having varying engine sizes, such as SUVs, dirt bikes, monster trucks, solar cars, sprint cars, and touring cars, which have interference engines. This has raised the demand for belt tensioner pulleys.
Furthermore, non-interference engines do not have direct contact between the piston head and the engine valve. As the interference engine is used for better performance of the vehicle, the need for the timely replacement of the timing belt is important. Therefore, the increasing demand for high-performance vehicles will drive the growth of the market during the forecast period.
The use of fiber-reinforced materials in automotive timing belts to increase lifespan is the primary trend shaping market growth. Various ways of increasing the longevity and lifespan of rubber-based automotive timing belts are being explored by original equipment manufacturers and automotive timing belt producers. Fiber-reinforced materials, such as glass-fiber, have superior strength-to-weight ratio, corrosion resistance, and weight resistance properties, which increase the lifespan of the material. This extended life of the timing belt minimizes the replacement rate of the belt tensioner pulleys.
Moreover, the use of fiber-reinforced materials for manufacturing automotive timing belts also provides additional benefits. In addition, the use of high-performance polymers makes the belt resistant to the temperature and it also runs smoothly and reliably in temperatures of -22 degrees F-543.2 degrees F. Thus, these benefits offered by fiber-reinforced materials can encourage more timing belt manufacturers to drive the growth of the market during the forecast period.
The ongoing slowdown of the economy in China is a challenge that affects market growth. The increased economic growth in the past made China the highest market for automotive production and sales. Nevertheless, the ongoing slowdown and the risk of a further slowdown of the economy in China can hardly affect the adoption of automobiles and their components, such as automotive belt tensioner pulleys.
In addition, the prolonged trade war with the US has been impacting the economy in China considerably in recent years. Businesses remain skeptical about whether the two countries will reach a broader trade agreement, and the trade tension may escalate again. Hence, the ongoing slowdown of the economy in China will impede the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Belt Tensioner Pulleys Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The passenger cars segment is estimated to witness significant growth during the forecast period. Demand for passenger cars is increasing, there is an expansion of the automotive sector as a whole, and need to improve engine efficiency and performance in order to take advantage of this. All of these factors are associated with belt tensioner pulleys. Manufacturers of belt tensioner pulleys, such as SKF Group, Gates Corporation, Litens Automotive Group, Dayco Products, and Schaeffler AG, are significant market participants.
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The passenger cars segment was the largest segment and was valued at USD 772.90 million in 2018. The global automatic belt tensioner pulleys market is divided into different categories based on the belt tensioner pulleys that are used, including automatic, manual, and self-adjusting pulleys. Steel, aluminum, and plastic are just a few of the materials that are divided into different categories. With rising demand for passenger cars in emerging regions and technical developments in engine systems, the global automotive belt tensioner pulleys market for passenger cars has promising growth during the forecast period.
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APAC is estimated to contribute 60% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China is a significant contributor and represents the largest market for automotive belt tensioner pulleys in APAC. A primary factor for the growth of the market in focus is the growing adoption of passenger cars and CVs in China. Japan and India are also important contributors to the demand for automotive belt tensioner pulleys due to the high volume of automotive production.
Furthermore, increasing income levels and the expanding middle-class population have resulted in a high demand for automobiles in the emerging economies of APAC, such as India and Indonesia. The growing adoption of automobiles in these economies is driving the growth of the automotive belt tensioner pulleys market in APAC. Thus, such factors are anticipated to drive market growth in the APAC region during the forecast period.
In 2020, the COVID-19 pandemic had a significant impact on the automotive belt tensioner pulley market in APAC. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Therefore, the demand for automotive belt tensioner pulleys in this region will drive the growth of the global automotive belt tensioner pulleys market during the forecast period.
The automotive belt tensioner pulleys market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Automotive Belt Tensioner Pulleys Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.47% |
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Market Growth 2024-2028 |
USD 276.61 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.31 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 60% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AB SKF, ABA Automotive, B and B Manufacturing Inc., Bando Chemical Industries Ltd., Clark Pulley Industries Inc., Continental AG, Dayco IP Holdings LLC, Dorman Products Inc., Gates Industrial Corp. Plc, General Motors Co., Hutchinson SA, Kanemitsu Corp., KAVO B.V., Litens Automotive, Standard Motor Products Inc., Tenneco Inc., The Goodyear Tire and Rubber Co., The Timken Co., and Zhejiang Renchi Auto Parts Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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