A timing belt is a ribbed belt that runs across a series of pulleys and has belt tensioners that are used to keep the proper tension on the belt. The main advantage of using timing belts is that with regular use, the power transmission efficiency is not lost and it does not require lubrication, as the operation of the timing belt is clean.
Fiber-reinforced materials increase the lifespan of a timing belt and the use of these materials is increasing in the industrial sector. This is expected to fuel the industrial timing belt market during the forecast period. Industrial timing belt manufacturers are undertaking various R&D activities to increase the durability and lifespan of industrial timing belts.
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Key Developments/Recent News:
There have been new developments in desktop 3D printers, in which old designs are improved and modified in order to have a wider customer base. Certain small upgrades increase the quality of 3D printing for the emerging generation of low-cost fabricators. Timing belts are specifically designed for 3D printers with different durometer and reinforced materials such as polyester, Kevlar, and fibre glass. Timing belts are essential for 3D printers as they allow motors to stay still while moving other components.
Further, timing belts offer several advantages such as accuracy, smooth operation, non-dusting performance, no slip synchronization, and low maintenance. Timing belts work efficiently and are considered to be durable. However, they wear out faster and last for 60,000 to 100,000 miles. Therefore, customers often prefer timing chains, as they have a longer lifespan compared to timing belts. They can last 150,000 to 200,000 miles.
In addition to this, the replacement cost of timing chains is lower when compared to that of timing belts. The plastic guides used in timing chains are replaced only after a certain period of time. Further, timing belts are sold among high-end manufacturers and thus, they still lag behind in capturing a larger part of the market share compared to timing chains.
CPs & CI
The key players in the timing belt market are JK Fenner Ltd., Gates Corporation, NingBo Fulong Synchronous Belt Co., Ltd., ACDelco, B&B MANUFACTURING, Continental AG, SKF, Bando USA Inc., AISIN SEIKI Co., Ltd., Dayco IP Holdings, LLC and others. These players have adopted various strategies such as new product innovations and product launches to gain more attention from customers. In addition to this, the growth of the timing belt market is attributed to geographical and product portfolio expansion, and strategic partnerships such as mergers & acquisitions and joint ventures, which help guarantee long-term sustenance in the market.
The major companies operating in the global timing belt market are emphasising on new product launches and product developments, in order to attract more customers. For instance, in June 2017, SKF launched over 100 new aftermarket kits, among which over 40 kits included timing belt kits, such as ‘Timing belt with water pump kits (VKMC 01278) for new VAG models’, Timing belts with water pump kit (VKMC 04215-) for new Ford models/engines, and others. This added new products to the existing product portfolio of SKF.
Key Questions Answered
• What is the market value of the overall global timing belt market and segments?
• What are the key segments and sub-segments in the market?
• Which is the largest sub-segment in each segment in the scope of the study?
• What are the key drivers, restraints, opportunities, and challenges in the market and how are they expected to impact the market?
• What are the attractive segments and geographies to invest in?
• What is the market value at the regional and the country level?
• Who are the key market players and their key competitors?
• Who are the key market players at different stages of the value chain?
• What are the strategies for growth adopted by the key players in the market?