- Flat Blet
- V-Belt
- Timing Belt
Belt Drive Systems Market size was valued at USD 3,500 million in 2021, growing at a significant CAGR of 5% from 2022–2028. High-tech belt & pulley systems and conveyors meant for power transmission, and other equipment applications benefit from increased investments in automation of manufacturing facilities and the replacement of traditional electromechanical methods of regulating operations. Belt drive power transmission is the most common engineering design in power trains, with numerous advantages, including being simple and less complex in design & cost-effective. The reduced noise & vibration, and higher machinery life due to efficient shock absorption, require no lubrication & thus require less maintenance. High Premium belt drives, such as synchronous belt drives, are gaining popularity as manufacturing companies focus more on improving energy efficiency. Focus on ease of maintenance and the resulting preference for belt drives over chain drives in the food processing sector, strong demand for Continuously Variable Transmission (CVT) technology, which represents a belt and pulley system rather than a traditional physical gear architecture are, opening up opportunities in the automotive sector. Mechanization of agriculture, solid demand for combines and harvesters, and a corresponding increase in options for agriculture belt drives, rising preference for belt drive drilling rigs against the backdrop of recovering oil prices after a prolonged slump will create strong market movement in the coming years. Recently, many manufacturers have turned to 3D printing since the production or assembly process does not require substantial changes for each type of belt drive system. Low-cost manufacturing, shorter lead times, and easy customization of end goods are the advantages of 3D printing. The chain and gear drive systems. Currently, companies are focusing on developing belt drive systems that can be used for various hybrid applications. Few companies are looking for alternatives to polyurethane belts by creating glass carbon compound drive belts, which offer similar performance.
Recent Market Developments:
In October 2019, Continental acquired assets and business of CPR’s Industries’ Continental-related belts and bet kits program for bringing all its Continental Branded aftermarket belt products under its North American Business.Belt Drive Systems Market Summary
Study Period
2023-29
Base Year
2022
CAGR
5%
Largest Market
Europe
Fastest Growing Market
North America
Dynamics
The demand for belt drives is increasing, resulting in Industrial players increasingly focusing on post-manufacturing processes and looking for cost-cutting possibilities in material handling due to lean management principles. They are also working to enhance customer satisfaction while shortening the cash cycle. This has led to the adoption of automated material handling technology, which will affect many aspects of material handling, including loading, which drives the belt drive market. However, the high cost associated with the system and the requirement for belt drive equipment is being replaced by new technologies for materials handling equipment hamper the belt drive market.
North-America Got Significant Share
Belt Drive Systems Market
The belt drive systems market in North America is likely to hold the highest revenue share in 2022, and, in the following years, it is predicted to expand rapidly. The expansion of the belt drive market will be fuelled by the increased adoption of direct injection engines by original automotive equipment manufacturers and the increase in global vehicle production. In addition, rising vehicle population and average kilometers traveled per vehicle would contribute to increased replacement and aftermarket growth. Rising purchasing power and increased industrial activity in industries like transmission manufacturing, machine tool applications, and agricultural applications are expected to stimulate economic expansion in the Asia region. The availability of cheap labor is one of the primary reasons for the high vehicle production in the region. In 2016, China accounted for 55.61 % of Asia Oceania's total passenger automobile manufacturing. In 2016, Japan and India produced 17.91 % and 8.34 % of all passenger cars, respectively. These elements have aided Asia Oceania's rise to the top of the market.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2016-2021), and forecast (2022-2028)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Belt Drive Systems Market Segmentation
Product Type
End User
- Material Handling Industry
- Industrial Transmission
- Agriculture
- Mining and Minerals & Others
Geography
North America
- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Poland
- Rest of Europe
- Japan
- China
- India
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Brazil
- Mexico
- Argentina
- Venezuela
- Rest of Latin America
- Gulf Cooperation Council (GCC) Countries
- Israel
- South Africa
- Rest of MEA
Frequently Asked Questions
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
| 1. Executive Summary |
| 2. Global Belt Drive Systems Market Introduction |
| 2.1. Global Belt Drive Systems Market – Taxonomy |
| 2.2. Global Belt Drive Systems Market –Definitions |
| 2.2.1. Type |
| 2.2.2. Application |
| 3. Global Belt Drive Systems Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Belt Drive Systems Market Dynamic Factors - Impact Analysis |
| 3.6. Global Belt Drive Systems Market – Competition Landscape |
| 4. Global Belt Drive Systems Market Analysis,2017 - 2021 and Forecast, 2022 - 2028 |
| 4.1. Market Analysis,2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Belt Drive Systems Market, By Type, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.1. Flat Belts |
| 5.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. V-Belts |
| 5.2.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Timing Belts |
| 5.3.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Belt Drive Systems Market, By Application, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.1. Material Handling Industry |
| 6.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Industrial Machinery |
| 6.2.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Agriculture |
| 6.3.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Mining and Minerals |
| 6.4.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7. Global Belt Drive Systems Market Forecast, By Region, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Belt Drive Systems Market - Opportunity Analysis Index, By Type, Application and Region, 2022 - 2028 |
| 8. North America Belt Drive Systems MarketAnalysis,2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 8.1. By Type Analysis 2017 - 2021 and Forecast 2022 - 2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Flat Belts |
| 8.1.2. V-Belts |
| 8.1.3. Timing Belts |
| 8.2. Application Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Material Handling Industry |
| 8.2.2. Industrial Machinery |
| 8.2.3. Agriculture |
| 8.2.4. Mining and Minerals |
| 8.2.5. Others |
| 8.3. Country Analysis 2017 - 2021 and Forecast 2022 - 2028by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Belt Drive Systems Market - Opportunity Analysis Index, By Type, Application, and Country, 2022 - 2028 |
| 8.5. North America Belt Drive Systems Market Dynamics – Trends |
| 9. Europe Belt Drive Systems Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 9.1. By Type Analysis 2017 - 2021 and Forecast 2022 - 2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Flat Belts |
| 9.1.2. V-Belts |
| 9.1.3. Timing Belts |
| 9.2. Application Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Material Handling Industry |
| 9.2.2. Industrial Machinery |
| 9.2.3. Agriculture |
| 9.2.4. Mining and Minerals |
| 9.2.5. Others |
| 9.3. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe Belt Drive Systems Market - Opportunity Analysis Index, By Type, Application, and Country, 2022 - 2028 |
| 9.5. Europe Belt Drive Systems Market Dynamics – Trends |
| 10. Asia-Pacific Belt Drive Systems Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 10.1. By Type Analysis 2017 - 2021 and Forecast 2022 - 2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Flat Belts |
| 10.1.2. V-Belts |
| 10.1.3. Timing Belts |
| 10.2. Application Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Material Handling Industry |
| 10.2.2. Industrial Machinery |
| 10.2.3. Agriculture |
| 10.2.4. Mining and Minerals |
| 10.2.5. Others |
| 10.3. Country Analysis2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Belt Drive Systems Market - Opportunity Analysis Index, By Type, Application, and Country, 2022 - 2028 |
| 10.5. Asia-Pacific Belt Drive Systems Market Dynamics – Trends |
| 11. Latin America Belt Drive Systems Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 11.1. By Type Analysis 2017 - 2021 and Forecast 2022 - 2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Flat Belts |
| 11.1.2. V-Belts |
| 11.1.3. Timing Belts |
| 11.2. Application Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Material Handling Industry |
| 11.2.2. Industrial Machinery |
| 11.2.3. Agriculture |
| 11.2.4. Mining and Minerals |
| 11.2.5. Others |
| 11.3. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Belt Drive Systems Market - Opportunity Analysis Index, By Type, Application, and Country, 2022 - 2028 |
| 11.5. Latin America Belt Drive Systems Market Dynamics – Trends |
| 12. Middle East and Africa Belt Drive Systems Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Mn) |
| 12.1. By Type Analysis 2017 - 2021 and Forecast 2022 - 2028by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Flat Belts |
| 12.1.2. V-Belts |
| 12.1.3. Timing Belts |
| 12.2. Application Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Material Handling Industry |
| 12.2.2. Industrial Machinery |
| 12.2.3. Agriculture |
| 12.2.4. Mining and Minerals |
| 12.2.5. Others |
| 12.3. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Belt Drive Systems Market - Opportunity Analysis Index, By Type, Application, and Country, 2022 - 2028 |
| 12.5. MEA Belt Drive Systems Market Dynamics – Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Technology & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Gates Corporation |
| 13.2.2. Dayco Products LLC |
| 13.2.3. Belt Corporation of America |
| 13.2.4. Beeline Engineering Products |
| 13.2.5. Ino Industrial Belting Co |
| 13.2.6. Schaeffler Technologies AG and Co. KG |
| 13.2.7. Hutchinson Belt Drive Systems |
| 13.2.8. Reynold Plc |
| 13.2.9. Arntz Optibelt Gmbh |
| 13.2.10. Belt Technologies Inc |
| 13.2.11. Desch Antriebstechnik Gmbh |
| 13.2.12. Federal Mogul Co. |
| 13.2.13. THE TIMKEN COMPANY |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
- Arntz Optibelt Group
- Colmant Cuvelier RPS S.A.S.
- ContiTech AG
- Dayco Products, LLC
- Gates Corporation
- Michelin
- Mitsuboshi Belting Ltd.
- Regina Catene Calibrate Spa
- The Timken Company