Product Code: MRFR/IA - E/41932-CR
Global Power Transmission Belting Market Research Report Information by Belt Type (Flat Belts, V-Belts, Synchronous Belts, Round Belts, Multi-Rib Belts), by Material Type (Rubber Belts, Polyurethane Belts, Neoprene Belts, Leather Belts, Fabric Belts, Composite Belts, Others), by Application (Elevators, Packaging, Food & Beverages, Materials handling & Logistics, Textile, Machine Tools, Corrugated & Cardboard, Fitness, Hygiene, Ceramics & Marble, Others), and by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) Forecast to 2032
Overview of the Market
With a compound annual growth rate (CAGR) of 7.32% from 2024 to 2032, the global power transmission belting market is expected to increase from USD 11,819.48 million in 2024 to USD 20,515.66 million by 2032.
The market for power transmission belting is being driven by rising urbanization and industrialization in emerging economies, which are creating possibilities and a growing demand for energy-efficient solutions.
One of the major factors propelling the power transmission belting market is the growing emphasis on sustainability and energy efficiency across sectors. Adopting technology and solutions that reduce energy loss and improve operational efficiency is becoming more and more necessary as the world's energy consumption rises. Because power transmission belting, especially synchronous belts, are more efficient than previous systems, they are essential for lowering energy usage.
Perspectives on Market Segments
The global power transmission belting is divided into two categories based on the kind of belt: solid round tools and indexable inserts.
Rubber belts, polyurethane belts, neoprene belts, leather belts, fabric belts, composite belts, and others make up the market's material-type segmentation.
Elevators, Packaging, Food & Beverages, Materials Handling & Logistics, Textile, Machine Tools, Corrugated & Cardboard, Fitness, Hygiene, Ceramics & Marble, and Others are the market segments based on application.
Regional Perspectives
The market for power transmission belting in North America held the most share in 2023 and is anticipated to increase at a substantial compound annual growth rate (CAGR) during the course of the study. The region's robust industrial base, growing automotive industry, and developments in the energy and agricultural sectors are what propel North America's dominance. Because they provide dependable and effective power transfer, power transmission belts-including V-belts, timing belts, and flat belts-are crucial parts of machinery. The two most common materials are rubber and polyurethane, with polyurethane belts becoming more popular because of their strength and resistance to wear and chemicals. With the help of thriving manufacturing and agricultural sectors, the United States dominates the market, followed by Canada and Mexico.
Furthermore, the Power Transmission Belting Market's second-largest region is Europe. The region's robust automotive industry, rising manufacturing activity, and developments in industrial automation are all contributing to the Europe Power Transmission Belting Market's consistent expansion. Power transmission belts, such as V-belts, timing belts, and flat belts, are widely utilized in a variety of industries, including energy, industrial machinery, automobile, and agriculture.
Furthermore, the region's strong industrialization, rising automobile production, and growing use of automation in manufacturing and agriculture have all contributed to the Asia Pacific Power Transmission Belting Market's recent notable growth. Key contributors include China, India, Japan, and South Korea, which profit from extensive industrial operations and growing investments in cutting-edge gear.
Key Players
Megadyne, Gates Corporation, Mitsuboshi Belting Ltd, Sanlux Co., Ltd., Optibelt, and ContiTech are some of the major companies that control the market.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
- 2.1 DEFINITION
- 2.2 SCOPE OF THE STUDY
- 2.3 RESEARCH OBJECTIVE
- 2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
- 3.1 OVERVIEW
- 3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
- 3.3 PURCHASED DATABASE:
- 3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
- 3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
- 3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 REVENUE ANALYSIS APPROACH
- 3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TECHNIQUE
- 3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:
- 3.9 TEAMS AND ANALYST CONTRIBUTION
4 MARKET DYNAMICS
- 4.1 INTRODUCTION
- 4.2 DRIVERS
- 4.2.1 GROWING DEMAND FOR ENERGY-EFFICIENT SOLUTIONS
- 4.2.2 INCREASING ADOPTION OF AUTOMATION AND ROBOTICS IN MANUFACTURING
- 4.2.3 DRIVER IMPACT ANALYSIS
- 4.3 RESTRAINTS
- 4.3.1 HIGH INITIAL INVESTMENT COST
- 4.3.2 RESTRAINT IMPACT ANALYSIS
- 4.4 OPPORTUNITY
- 4.4.1 RAPID URBANIZATION AND INCREASING INDUSTRIALIZATION IN EMERGING ECONOMIES
- 4.5 IMPACT ANALYSIS OF COVID -
- 4.5.1 IMPACT ON OVERALL PCM (POWER TRANSMISSION COMPONENTS MARKET)
- 4.5.2 IMPACT ON GLOBAL POWER TRANSMISSION BELTING MARKET
- 4.5.3 IMPACT ON SUPPLY CHAIN OF GLOBAL POWER TRANSMISSION BELTING MARKET
- 4.5.4 IMPACT ON MARKET DEMAND OF GLOBAL POWER TRANSMISSION BELTING MARKET
- 4.5.5 IMPACT ON PRICING OF GLOBAL POWER TRANSMISSION BELTING MARKET
5 MARKET FACTOR ANALYSIS
- 5.1 PORTER'S FIVE FORCES MODEL
- 5.1.1 THREAT OF NEW ENTRANTS
- 5.1.2 BARGAINING POWER OF SUPPLIERS
- 5.1.3 BARGAINING POWER OF BUYERS
- 5.1.4 THREAT OF SUBSTITUTES
- 5.1.5 INTENSITY OF RIVALRY
- 5.2 SUPPLY CHAIN ANALYSIS
- 5.2.1 RAW MATERIAL SOURCING
- 5.2.2 MANUFACTURING AND PRODUCTION
- 5.2.3 DISTRIBUTION AND LOGISTICS
- 5.2.4 SALES AND AFTER-SALES SUPPORT
- 5.2.5 TECHNOLOGICAL INTEGRATION AND INNOVATION
- 5.2.6 RISK MANAGEMENT AND RESILIENCE
6 GLOBAL POWER TRANSMISSION BELTING MARKET, BY BELT TYPE
- 6.1 OVERVIEW
- 6.2 FLAT BELTS
- 6.3 V-BELTS
- 6.3.1 CLASSICAL V-BELTS
- 6.3.2 NARROW V-BELTS
- 6.3.3 FRACTIONAL HORSEPOWER (FHP) V-BELTS
- 6.3.4 DOUBLE V-BELTS
- 6.3.5 COGGED V-BELTS
- 6.3.6 OTHERS
- 6.4 SYNCHRONOUS BELTS
- 6.4.1 TIMING BELTS
- 6.4.2 POLY CHAIN BELTS
- 6.4.3 OTHERS
- 6.5 ROUND BELTS
- 6.6 MULTI-RIB BELTS
- 6.6.1 POLY V-BELTS
- 6.6.2 MICRO-V BELTS
- 6.6.3 OTHERS
- 6.7 OTHERS
7 GLOBAL POWER TRANSMISSION BELTING MARKET, BY MATERIAL TYPE
- 7.1 OVERVIEW
- 7.2 RUBBER BELTS
- 7.3 POLYURETHANE BELTS
- 7.4 NEOPRENE BELTS
- 7.5 LEATHER BELTS
- 7.6 FABRIC BELTS
- 7.7 COMPOSITE BELTS
- 7.8 OTHERS
8 GLOBAL POWER TRANSMISSION BELTING MARKET, BY APPLICATION
- 8.1 OVERVIEW
- 8.2 ELEVATORS
- 8.3 PACKAGING
- 8.4 FOOD & BEVERAGES
- 8.5 MATERIALS HANDLING & LOGISTICS
- 8.6 TEXTILE
- 8.7 MACHINE TOOLS
- 8.8 CORRUGATED & CARDBOARD
- 8.9 FITNESS
- 8.10 HYGIENE
- 8.11 CERAMICS & MARBLE
- 8.12 OTHERS
9 GLOBAL POWER TRANSMISSION BELTING MARKET, BY REGION
- 9.1 OVERVIEW
- 9.1.1 GLOBAL POWER TRANSMISSION BELTING MARKET, BY REGION, 2018-2032
- 9.2 NORTH AMERICA
- 9.2.1 NORTH AMERICA: POWER TRANSMISSION BELTING MARKET, BY COUNTRY, 2018-2032
- 9.2.2 US
- 9.2.3 CANADA
- 9.3 EUROPE
- 9.3.1 EUROPE: POWER TRANSMISSION BELTING MARKET, BY COUNTRY, 2018-2032
- 9.3.2 GERMANY
- 9.3.3 UK
- 9.3.4 FRANCE
- 9.3.5 RUSSIA
- 9.3.6 ITALY
- 9.3.7 SPAIN
- 9.3.8 REST OF EUROPE
- 9.4 ASIA PACIFIC
- 9.4.1 ASIA PACIFIC: POWER TRANSMISSION BELTING MARKET, BY COUNTRY, 2018-2032
- 9.4.2 CHINA
- 9.4.3 INDIA
- 9.4.4 JAPAN
- 9.4.5 SOUTH KOREA
- 9.4.6 MALAYSIA
- 9.4.7 THAILAND
- 9.4.8 INDONESIA
- 9.4.9 VIETNAM
- 9.4.10 SINGAPORE
- 9.4.11 AUSTRALIA & NEW ZEALAND
- 9.4.12 PHILIPPINES
- 9.4.13 BANGLADESH
- 9.4.14 PAKISTAN
- 9.4.15 SRI LANKA
- 9.4.16 REST OF ASIA PACIFIC
- 9.5 SOUTH AMERICA
- 9.5.1 SOUTH AMERICA: POWER TRANSMISSION BELTING MARKET, BY COUNTRY, 2018-2032
- 9.5.2 BRAZIL
- 9.5.3 MEXICO
- 9.5.4 ARGENTINA
- 9.5.5 REST OF SOUTH AMERICA
- 9.6 MEA
- 9.6.1 MEA: POWER TRANSMISSION BELTING MARKET, BY COUNTRY, 2018-2032
- 9.6.2 GCC COUNTRIES
- 9.6.3 SOUTH AFRICA
- 9.6.4 REST OF MEA
10 COMPETITIVE LANDSCAPE
- 10.1 INTRODUCTION
- 10.2 MAJOR GROWTH STRATEGY IN THE GLOBAL POWER TRANSMISSION BELTING MARKET
- 10.3 COMPETITOR DASHBOARD
- 10.4 MARKET SHARE ANALYSIS 2023 (%)
11 COMPANY PROFILES
- 11.1 MEGADYNE
- 11.1.1 COMPANY OVERVIEW
- 11.1.2 FINANCIAL OVERVIEW
- 11.1.3 PRODUCTS OFFERED
- 11.1.4 SWOT ANALYSIS
- 11.1.5 KEY STRATEGIES
- 11.2 GATES CORPORATION
- 11.2.1 COMPANY OVERVIEW
- 11.2.2 FINANCIAL OVERVIEW
- 11.2.3 PRODUCTS OFFERED
- 11.2.4 KEY DEVELOPMENTS
- 11.2.5 SWOT ANALYSIS
- 11.2.6 KEY STRATEGIES
- 11.3 MITSUBOSHI BELTING LTD.
- 11.3.1 COMPANY OVERVIEW
- 11.3.2 FINANCIAL OVERVIEW
- 11.3.3 PRODUCTS OFFERED
- 11.3.4 KEY DEVELOPMENTS
- 11.3.5 SWOT ANALYSIS
- 11.3.6 KEY STRATEGIES
- 11.4 SANLUX CO., LTD
- 11.4.1 COMPANY OVERVIEW
- 11.4.2 PRODUCTS OFFERED
- 11.4.3 KEY DEVELOPMENTS
- 11.4.4 SWOT ANALYSIS
- 11.4.5 KEY STRATEGIES
- 11.5 OPTIBELT.
- 11.5.1 COMPANY OVERVIEW
- 11.5.2 PRODUCTS OFFERED
- 11.5.3 KEY DEVELOPMENTS
- 11.5.4 SWOT ANALYSIS
- 11.5.5 KEY STRATEGIES
- 11.6 CONTITECH
- 11.6.1 COMPANY OVERVIEW
- 11.6.2 FINANCIAL OVERVIEW
- 11.6.3 PRODUCTS OFFERED
- 11.6.4 KEY DEVELOPMENTS
- 11.6.5 KEY STRATEGIES
- 11.7 HABASIT
- 11.7.1 COMPANY OVERVIEW
- 11.7.2 FINANCIAL OVERVIEW
- 11.7.3 PRODUCTS OFFERED
- 11.7.4 KEY DEVELOPMENTS
There have been no recent developments by the company in the Global Power Transmission Belting Market
- 11.8 SIT GROUP
- 11.8.1 COMPANY OVERVIEW
- 11.8.2 PRODUCTS OFFERED
- 11.8.3 KEY DEVELOPMENTS
- 11.8.4 KEY STRATEGIES
- 11.9 YONGLI BELTING GROUP
- 11.9.1 COMPANY OVERVIEW
- 11.9.2 FINANCIAL OVERVIEW
- 11.9.3 PRODUCTS OFFERED
- 11.9.4 KEY DEVELOPMENTS
- 11.9.5 KEY STRATEGIES
- 11.10 FULONG METAL INDUSTRIAL CO., LTD
- 11.10.1 COMPANY OVERVIEW
- 11.10.2 FINANCIAL OVERVIEW
- 11.10.3 PRODUCTS OFFERED
- 11.10.4 KEY DEVELOPMENTS
- 11.10.5 SWOT ANALYSIS
- 11.10.6 KEY STRATEGIES
- 11.11 NINGBO JIEBAO GROUP CO., LTD.
- 11.11.1 COMPANY OVERVIEW
- 11.11.2 FINANCIAL OVERVIEW
- 11.11.3 PRODUCTS OFFERED
- 11.11.4 KEY DEVELOPMENTS
- 11.11.5 KEY STRATEGIES
- 11.12 ZHEJIANG FENGMAO TECHNOLOGY CO., LTD.
- 11.12.1 COMPANY OVERVIEW
- 11.12.2 FINANCIAL OVERVIEW
- 11.12.3 PRODUCTS OFFERED
- 11.12.4 KEY DEVELOPMENTS
- 11.12.5 KEY STRATEGIES
- 11.13 ONLIVE TRANSMISSION TECHNOLOGY CO., LTD.
- 11.13.1 COMPANY OVERVIEW
- 11.13.2 FINANCIAL OVERVIEW
- 11.13.3 PRODUCTS OFFERED
- 11.13.4 KEY DEVELOPMENTS
- 11.13.5 KEY STRATEGIES
- 11.14 NINGBO BEIDI SYNCHRONOUS BELT CO., LTD.
- 11.14.1 COMPANY OVERVIEW
- 11.14.2 FINANCIAL OVERVIEW
- 11.14.3 PRODUCTS OFFERED
- 11.14.4 KEY DEVELOPMENTS
- 11.14.5 KEY STRATEGIES
- 11.15 FOSHAN PENGWANG INDUSTRIAL BELT CO., LTD.
- 11.15.1 COMPANY OVERVIEW
- 11.15.2 FINANCIAL OVERVIEW
- 11.15.3 PRODUCTS OFFERED
- 11.15.4 KEY DEVELOPMENTS
- 11.15.5 KEY STRATEGIES