Global Industrial Synchronous Timing Belts Market 2017-2021
About Industrial Synchronous Timing Belts
Industrial synchronous timing belts are advanced belts used for power transmission, used in lightweight to heavyweight industrial applications, with high efficiency. They transmit power with positive engagement between teeth. These belts are installed in all end-user orientations for efficient machinery functions.
Technavio’s analysts forecast the global industrial synchronous timing belts market to grow at a CAGR of 4.25% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial synchronous timing belts market for 2017-2021. To calculate the market size, the report considers the sales, retrofit, replacement, spares, and services market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Synchronous Timing Belts Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial synchronous timing belts market: ContiTech, Gates, Optibelt, and SKF.
Other Prominent Vendors in the market are: B&B Manufacturing, Bervina, BRECOflex, Fenner, Forbo, Fuju Belt, Habasit, Hutchison, Megadyne, Mitsuboshi Belting, Pix Transmissions, Embekon Engineers, Tempo International, Timken, WM Berg, and Wutong.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is mechanization of agriculture and farm operations in developing economies. Industrial manufacturers in the field of agricultural mechanization will play an important role in the industrial synchronous timing belts market. This will improve the adoption of agricultural equipment, improving the growth of the global industrial synchronous timing belts market during the forecast period. Initiatives by governments in developing countries such as India and China will highly prioritize the use of industrial resources for efficient farm operations.”
According to the report, one of the major drivers for this market is growing retrofit activities in industrial machinery. The growing retrofit activities in advanced machinery and equipment to increase productivity through lower downtimes has created a sizable replacement and retrofit market for industrial synchronous timing belts. The manufacturing sector in APAC is continually growing. Countries such as India and China are currently undergoing major development initiatives owing to government initiatives to bolster the domestic manufacturing sector.
Further, the report states that one of the major factors hindering the growth of this market is lack of predictive maintenance. Predictive maintenance is the complement of precautionary maintenance. It is necessary for a machine before the equipment experiences a complete breakdown. This, in turn, is essential to obtain efficient, reliable, and safe production processes. This is when it is essential for the application of synchronous timing belts. These belt drives are cost-effective and reliable means for transmitting power between shafts, and it provides an efficiency of 98%.
ContiTech, Gates, Optibelt, SKF, B&B Manufacturing, Bervina, BRECOflex, Fenner, Forbo, Fuju Belt, Habasit, Hutchison, Megadyne, Mitsuboshi Belting, Pix Transmissions, Embekon Engineers, Tempo International, Timken, WM Berg, and Wutong.
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