Rubber Transmission Belts Market is set to Reach US$ 7 Bn by 2026
Rubber Transmission Belts Market is set to Reach US$ 7 Bn by 2026
The global rubber transmission belts market was valued at around US$ 5 Bn in 2017 and is projected to expand at a CAGR of 4.16% from 2018 to 2026, according to a new report titled ‘Rubber Transmission Belts Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) .Growth of the automotive sector across the world and increase in the number of manufacturing plants are key factors driving the global rubber transmission belts market. Additionally, availability of raw material in abundance is fueling the market.
In terms of product, the global rubber transmission belts market has been classified into raw edged belts, V-belts, timing belts, wrapped belts, specialty belts, and others. The V-belts segment held a dominant i.e. 37.94% share of the global rubber transmission belts market in 2017. The timing belts segment is expected to expand at a CAGR of 3.94% from 2018 to 2026. The speciality belts segment is expected to expand at a significant growth rate in the near future. Specialty belts are customized belts that are designed to meet specific requirements of customers.
rubber transmission belts market
Based on application, the rubber transmission belts market can be segregated into industrial, automotive components, agricultural equipment, mining, and others. Among these, industrial is the dominant segment. In industrial manufacturing units, various machines are operated at an optimum speed, wherein belt drives used need to be of the finest quality so as to sustain in harsh conditions such as transferring heavy loads.
Get Free PDF Brochure of the Report –https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=16850
Manufacturing and automotive sectors offer a wide consumer base for rubber transmission belts. Rubber transmission belts provide automotive and manufacturing industries with machine systems that can be directly employed for assembling parts.
Rising popularity of electric vehicles is a key factor hampering the rubber transmission belts market. Furthermore, fluctuating rubber prices have been hampering the global rubber transmission belts market over the last few years. Moreover, presence of a large number of unorganized local players offering their products at a competitive price has disrupted the position of prominent players in the rubber transmission belts market in the last few years.
Make an Enquiry before Buying –https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=16850
Key market players profiled in the research study include ContiTech AG, Gates Industrial Corporation plc, SKF, DRB, Mitsuboshi Belting Ltd., HIC International Co Inc., Hanna Rubber Company, Jonson Rubber Industries Limited, Chiorino S.p.A., Megadyne Group, and Habasit AG.
Explore Related Reports:
Decorative Coatings Market-https://www.transparencymarketresearch.com/decorative-coatings-market.html
Paints & Coatings Market-https://www.transparencymarketresearch.com/Paints-coatings-market.html
Concrete Fiber Market- https://www.transparencymarketresearch.com/concrete-fiber-market.html
Ceramic Inks Market-https://www.transparencymarketresearch.com/ceramic-inks-market.html
Binder-free Electrode Market-https://www.transparencymarketresearch.com/binder-free-electrode-market.html
About Us:
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
Website:https://www.transparencymarketresearch.com
About the Creator
Jayashri T . Bhadane
Jayashri Bhadane (SEO Analyst)
As a Sr SEO at Transparency Market Research, Jayashri is driving vision of connecting people with great talent to work with no limits. With 3+ years of experience in the field of Digital Marketing
Comments
There are no comments for this story
Be the first to respond and start the conversation.