The industrial synchronous belt drives market share is expected to increase by USD 518.13 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.27%.
This industrial synchronous belt drives market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial synchronous belt drives market segmentations by end user (material handling, industrial machinery, agriculture, mining and mineral, and others) and geography (APAC, North America, Europe, South America, and MEA). The industrial synchronous belt drives market report also offers information on several market vendors, including AB SKF, ABB Ltd., B&B Manufacturing Inc., Bando Chemical Industries Ltd., Continental AG, Gates Industrial Corp. Plc, J. H. Fenner & Co. Ltd., Mitsuboshi Belting Ltd., Optibelt GmbH, and The Timken Co. among others.
What will the Industrial Synchronous Belt Drives Market Size be During the Forecast Period?
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Industrial Synchronous Belt Drives Market: Key Drivers, Trends, and Challenges
The large volume demand from aftermarket is notably driving the industrial synchronous belt drives market growth, although factors such as operational challenges in synchronous belt drives may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial synchronous belt drives industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Industrial Synchronous Belt Drives Market Driver
The large volume demand from aftermarket is a major factor driving the global industrial synchronous belt drives market share growth. Industrial synchronous belt drives have the ability to transmit high torque without slipping due to the positive engagement between the grooves of the pulley and the teeth of the belt. However, issues such as unexpected application conditions, installation errors, or the use of components that are not suitable to the operational requirements lead to the faster deterioration of synchronous belt drives. In addition, the inappropriate use of drives or the improper selection of synchronous belt drives can diminish the lifecycle of these belts. Due to this, plant operators must undertake periodic maintenance operations on a timely basis to reduce the problems associated with the commissioning of belts. In addition, end-users need to frequently replace these synchronous belt drives during operations. Vendors tend to earn additional revenue through the continuous replacement of these belt drives. According to vendors, periodic maintenance activities of installed drives are a major source of revenue. This will drive the growth of the global industrial synchronous belt drives market during the forecast period.
Key Industrial Synchronous Belt Drives Market Trend
The growing improvement in industrial synchronous belt drives is another factor supporting the global industrial synchronous belt drives market share growth. Vendors such as Gates Industrial and Continental AG (Continental) are continuously investing in improving the design of industrial synchronous belt drives and using different materials to improve their efficiency. This has led to the integration of advanced technologies into these belts. Also, vendors are focusing on manufacturing synchronous belt drives with increased power density and reduced noise. They are building synchronous belts with different materials, such as polyvinyl chloride and foam, which will help enterprises generate better output. Vendors are also seeking efficient materials to build synchronous belt drives that can withstand harsh environmental conditions and reduce maintenance costs considerably. Therefore, the growing advances in industrial synchronous belt drives will improve the offerings by vendors, thus, encouraging end-users to opt for industrial synchronous belt drives.
Key Industrial Synchronous Belt Drives Market Challenge
The operational challenges in synchronous belt drives will be a major challenge for the global industrial synchronous belt drives market share growth during the forecast period. Industrial synchronous belt drives have the potential to transmit high torque without slipping due to the positive engagement between the grooves of the pulley and the teeth of the belt. However, issues such as unexpected application conditions, installation errors, or the use of components that are not suitable to the operational requirements lead to the faster deterioration of synchronous belt drives. Also, the tensile strength of synchronous belts can be affected due to severe shock loads or crimping of the belt. The tensile strength can also be compromised due to any mishandling of the belt if the pulley diameter is too small or due to inadequate tension or debris in the drive system. Furthermore, synchronous belt drives can have tooth shear, which can be caused by misalignment or shock loads. These operational challenges with regard to synchronous belt drives encourage end-users to opt for a more rigid option instead of synchronous belt drives, thus, impacting their demand and the market in focus during the forecast period.
This industrial synchronous belt drives market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global industrial synchronous belt drives market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial synchronous belt drives market during the forecast period.
Who are the Major Industrial Synchronous Belt Drives Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- AB SKF
- ABB Ltd.
- B&B Manufacturing Inc.
- Bando Chemical Industries Ltd.
- Continental AG
- Gates Industrial Corp. Plc
- J. H. Fenner & Co. Ltd.
- Mitsuboshi Belting Ltd.
- Optibelt GmbH
- The Timken Co.
This statistical study of the industrial synchronous belt drives market encompasses successful business strategies deployed by the key vendors. The industrial synchronous belt drives market is fragmented and the vendors are deploying growth strategies such as differentiating their product offerings through a clear and unique value proposition to compete in the market.
Product Insights and News
- AB SKF- The company offers fabricated belts from a wide range of materials.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The industrial synchronous belt drives market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Industrial Synchronous Belt Drives Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the industrial synchronous belt drives market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global industrial machinery market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Industrial Synchronous Belt Drives Market?
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45% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for industrial synchronous belt drives market in APAC. Market growth in this region will be slower than the growth of the market in South America.
Strong demand for the belts from end-users, such as agriculture, pharmaceutical, mining and mineral, and construction material will facilitate the industrial synchronous belt drives market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating End User Segments in the Industrial Synchronous Belt Drives Market?
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The industrial synchronous belt drives market share growth by the material handling segment will be significant during the forecast period. Material handling is the movement of goods from their native site to the point of use in manufacturing and the movement of goods in production processes. This segment includes material handling carried out via industrial synchronous belt drives in industries such as healthcare, manufacturing, and warehousing. The growth of these industries will support the demand for material handling equipment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial synchronous belt drives market size and actionable market insights on post COVID-19 impact on each segment.
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Industrial Synchronous Belt Drives Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.27% |
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Market growth 2021-2025 |
$ 518.13 million |
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Market structure |
Fragmented |
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YoY growth (%) |
2.28 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 45% |
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Key consumer countries |
US, China, Germany, Japan, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AB SKF, ABB Ltd., B&B Manufacturing Inc., Bando Chemical Industries Ltd., Continental AG, Gates Industrial Corp. Plc, J. H. Fenner & Co. Ltd., Mitsuboshi Belting Ltd., Optibelt GmbH, and The Timken Co. |
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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 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. |
What are the Key Data Covered in this Industrial Synchronous Belt Drives Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive industrial synchronous belt drives market growth during the next five years
- Precise estimation of the industrial synchronous belt drives market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial synchronous belt drives industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial synchronous belt drives market vendors
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