Global Automotive Belt Tensioner Pulleys Market 2017-2021
About Automotive Belt Tensioner Pulleys
The timing belt manufacturers have been using advanced materials for manufacturing the timing belt. These materials make timing belts thermal-resistant, corrosion-resistant, and less frictional and increase their lifespan. As the replacement of every timing belt was accompanied by the replacement of the belt tensioner pulley, use of advanced materials has caused a decline in the growth of the global automotive belt tensioner pulleys market by increasing the replacement time of timing belts.
Technavio’s analysts forecast the global automotive belt tensioner pulleys market to grow at a CAGR of 3.03% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive belt tensioner pulleys market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Belt Tensioner Pulleys Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive belt tensioner pulleys market: Continental, Dayco, and Gates Corporation.
Other Prominent Vendors in the market are: HUTCHINSON, SKF, Litens Automotive Group, BANDO CHEMICAL INDUSTRIES, Federal-Mogul, and The Goodyear Tire & Rubber Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is thermally stable timing belt. The timing belt is one of the most important components in an internal combustion engine. The timing belt controls and operates the camshaft's number of revolutions, that determines the power generated by the engine. Timing belts are placed close to the engine cylinder, where the fuel-air mixture combustion occurs generating a significant amount of heat.”
According to the report, one driver in the market is increasing vehicle production to boost the market for automotive belt tensioner pulleys. 2016 was a remarkable year in the history of the automotive industry. It witnessed a record sale of about 88.01 million vehicles. The industry is expecting global automotive production to cross 100 million units toward the end of the forecast period. The increasing demand for passenger cars, compact sport utility vehicles (SUVs), and crossovers are fueling the growth of the automotive industry. The cars, which were earlier used only for commuting purposes, today have turned into a status symbol. The purchase decision of a buyer is driven by his position in the society.
Further, the report states that one challenge in the market is increase in competition due to high market fragmentation. The automotive industry has been experiencing a steady growth over the last few years due to high demand in the market. The most significant problem for this industry is to deliver better quality products at competitive prices. Currently, the automotive industry is under a lot of stress due to the need to continuously innovate to counter the stringent emission norms introduced globally. The automotive industry is continuously working on optimizing vehicle performance to adapt and innovate as per the customer expectations.
Continental, Dayco, Gates Corporation, HUTCHINSON, SKF, Litens Automotive Group, BANDO CHEMICAL INDUSTRIES, Federal-Mogul, and The Goodyear Tire & Rubber Company.
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