HOME Top Market Reports Timing Belt Market by Drive Type (Dry Belts, Chain, Belt in Oil), Component (Idler Pulley, Sprocket, Tensioner, Timing Shield/Cover), ICE & Hybrid (Passenger Car, Commercial Vehicle, HEV, PHEV), Aftermarket, and Region - Global Forecast to 2025

Timing Belt Market by Drive Type (Dry Belts, Chain, Belt in Oil), Component (Idler Pulley, Sprocket, Tensioner, Timing Shield/Cover), ICE & Hybrid (Passenger Car, Commercial Vehicle, HEV, PHEV), Aftermarket, and Region - Global Forecast to 2025

By: marketsandmarkets.com
Publishing Date: November 2017
Report Code: AT 5759

 

  Speak to Analyst Enquiry Before Buying Webinar
purchase report
download pdf  request for customisation


The timing belt market is estimated to be USD 5.90 Billion in 2016 and is projected to grow at a CAGR of 5.21% from 2017 to 2025.  Increase in vehicle production and rising adoption of direct injection is driving the growth of the timing belt market. In this study, 2016 has been considered the base year, and 2017 to 2025 the forecast period, for estimating the size of the timing belt market.

Objectives of the Study:

  • To define, segment, and analyze the automotive timing belt market, in terms of volume (’000 units) and value (USD million), from 2017 to 2025
  • To analyze and forecast the volume and value of the automotive timing belt market, by timing drive type (dry belt, chain, and belt-in-oil) from 2017 to 2025
  • To analyze and forecast the automotive timing belt market, in terms of volume and value, by ICE vehicle type (passenger vehicles and commercial vehicles)
  • To analyze and forecast the timing belt aftermarket, in terms of volume and value, by component (tensioners, idler pulleys, timing belt/chain covers, and sprockets) from 2017 to 2025
  • To analyze and forecast the automotive timing belt market, in terms of volume and value, by region (Asia Oceania, Europe, North America, and the Rest of the World) from 2017 to 2025
  • To analyze and forecast the timing belt aftermarket, in terms of volume and value, by region (Asia Oceania, Europe, North America, and Rest of the World) from 2017 to 2025
  • To analyze and forecast the timing belt market, in terms of volume and value, by hybrid vehicle type (Hybrid Electric Vehicle, Plug-in Hybrid Electric Vehicle) from 2017 to 2025

This research study involved the extensive use of secondary sources such as European Automobile Manufacturers Association (ACEA), Organisation for Economic Co-operation and Development (OECD), and the International Organization of Motor Vehicle Manufacturers (OICA), directories, and databases to gather and classify facts and figures useful for a technical, market-oriented, and commercial study of the automotive timing belt market. Primary sources include experts from the core and related industries, suppliers, manufacturers, distributors, service providers, and organizations related to various segments of this industry’s value chain. The size of the timing belt market has been estimated by using the bottom-up approach. In this approach, the country-level vehicle production of passenger cars and commercial vehicles is derived from various secondary sources and paid databases. The installation rate of timing systems in different vehicle types is used to estimate the market of timing drive systems at a country level. The average price of different timing belt systems has been analyzed for different countries, vehicle types, and drive types and is then multiplied with the country-wise volume of timing drive systems. The summation of all regional markets including Asia Oceania, Europe, North America, and RoW helps to provide the size of the global timing belt market, in terms of value (USD million).

The below figure illustrates the break-up of the profile of industry experts who participated in primary discussions.

Timing Belt Market

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the timing belt market consists of manufacturers such as Continental (Germany), SKF (Sweden), BorgWarner (US), Tsubakimoto Chain (Japan), and others, and research institutes such as Japan Automobile Manufacturers Association (JAMA), European Automobile Manufacturers Association (ACEA), Canadian Automobile Association (CAA), and Korea Automobile Manufacturers Association (KAMA).

Target Audience

  • Automotive organizations/associations
  • Automotive Original Equipment Manufacturers (OEMs)
  • Raw material suppliers for timing belt kits
  • Tensioner pulley and idler pulley manufacturers
  • Timing belt and timing chain manufacturers
  • Timing belt kit distributors
  • Aftermarket suppliers of timing drive kit (OES & independent aftermarket suppliers)

Scope of the Report

  • Timing Belt Market, By Drive Type
    • Belt-in-Oil
    • Chains
    • Dry belts
  • Timing Belt Market, By ICE Vehicle
    • Passenger Vehicle
    • Commercial Vehicle
  • Timing Belt Market, By Hybrid Vehicle Type
    • Hybrid Electric Vehicle (HEV)
    • Plug-in Hybrid Electric Vehicle (PHEV)
  • Timing Belt Market, By Component
    • Tensioner
    • Idler Pulleys
    • Timing Shield/Cover
    • Sprocket
  • Timing Belt Market, By Region
    • Asia Oceania
    • Europe
    • North America
    • Rest of the World (RoW)
  • Timing Belt Aftermarket, By Region
    • AsiaOceania
    • Europe
    • North America
    • Rest of the World (RoW)

Available Customizations

Along with the given market data, MarketsandMarkets offers customizations in accordance with the company’s specific needs.

  • Timing Belt Market, by hybrid vehicle type & belt type

    (Countries to be studied are Asia Oceania: China, India, Japan, and South Korea; Europe: Germany, France, UK, and Spain; North America: US, Canada, and Mexico; RoW: Brazil and Russia)

    • HEV
    • PHEV
  • Timing Belt OE Market by Component type, by country

    (Countries to be studied are Asia Oceania: China, India, Japan, and South Korea; Europe: Germany, France, and UK; North America: US, Canada, and Mexico; RoW: Brazil and Russia)

    • Tensioners
    • Idler Pulley
    • Timing Shield /Cover
    • Sprocket
  • Timing Belt Aftermarket by ICE vehicle type, by country

    (Countries to be studied are Asia Oceania: China, India, Japan, and South Korea; Europe: Germany, France, and UK; North America: US, Canada, and Mexico; RoW: Brazil and Russia)

    • Passenger Vehicle
    • Commercial Vehicle

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
    2.2 Secondary Data
           2.2.1 Key Secondary Sources
           2.2.2 Data From Secondary Sources
    2.3 Primary Data
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Factor Analysis
           2.4.1 Introduction
           2.4.2 Demand-Side Analysis
                    2.4.2.1 Increased Demand for Commercial Vehicles
                    2.4.2.2 Rise in Household Disposable Income
           2.4.3 Supply-Side Analysis
                    2.4.3.1 Engine Downsizing Due to Vehicle Light-Weighting to Support the Timing Chain Demand
                    2.4.3.2 Technological Advances and Increase in R&D Expenditure
    2.5 Market Size Estimation
           2.5.1 Bottom-Up Approach
    2.6 Data Triangulation
    2.7 Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Timing Belt Market
    4.2 Timing Belt Market, By Region
    4.3 Timing Belt Market, By ICE Vehicle
    4.4 Timing Belt Market, By Hybrid Vehicle Type
    4.5 Timing Belt Market, By Component
    4.6 Timing Belt Aftermarket, By Vehicle Type

5 Market Overview (Page No. - 36)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growth of Direct Injection Engines to Fuel the Demand for Timing Chains
                    5.2.1.2 Increased Vehicle Parc & Average Miles Traveled
           5.2.2 Restraints
                    5.2.2.1 Increase in Demand for Battery Electric Vehicles (BEVS)
           5.2.3 Opportunities
                    5.2.3.1 Data Mining and Artificial Intelligence in the Timing Belt System
                    5.2.3.2 Shift From Dry Belt to Belt-In-Oil Timing System
           5.2.4 Challenges
                    5.2.4.1 Large Unorganized Aftermarket for Timing Belts
                    5.2.4.2 Lack of Predictive Maintenance Can Cause Expensive Damage to Engine Components

6 Timing Belt Market, By ICE Vehicle (Page No. - 42)
Note: the Chapter is Further Segmented at Regional Level - Asia-Oceania, Europe, North America and RoW
    6.1 Introduction
    6.2 Passenger Vehicle
    6.3 Commercial Vehicle

7 Timing Belt Market, By Hybrid Vehicle Type (Page No. - 47)
Note: the Chapter is Further Segmented at Regional Level - Asia-Oceania, Europe, North America and RoW
    7.1 Introduction
    7.2 Hybrid Electric Vehicle (HEV)
    7.3 Plug-In Hybrid Electric Vehicle (PHEV)

8 Timing Belt Market, By Component (Page No. - 52)
Note: the Chapter is Further Segmented at Regional Level - Asia-Oceania, Europe, North America and RoW
    8.1 Introduction
    8.2 Tensioner
    8.3 Idler Pulley
    8.4 Timing Shield/Cover
    8.5 Sprocket

9 Timing Belt Market, By Region (Page No. - 59)
The Chapter is Further Segmented at Country Level By Belt Drive Type (Timing Belt, Timing Chain, & Belt-In-Oil)
    9.1 Introduction
    9.2 Asia Oceania
           9.2.1 China
           9.2.2 Japan
           9.2.3 India
           9.2.4 South Korea
    9.3 Europe
           9.3.1 France
           9.3.2 UK
           9.3.3 Germany
           9.3.4 Spain
           9.3.5 Rest of Europe
    9.4 North America
           9.4.1 Canada
           9.4.2 Mexico
           9.4.3 US
    9.5 Rest of the World (RoW)
           9.5.1 Brazil
           9.5.2 Russia
           9.5.3 RoW Others

10 Timing Belt Aftermarket, By Region (Page No. - 80)
The Chapter is Further Segmented By Vehicle Type (Passenger Car & Commercial Vehicle)
     10.1 Introduction
     10.2 Asia Oceania
     10.3 Europe
     10.4 North America
     10.5 Rest of the World (RoW)

11 Competitive Landscape (Page No. - 87)
     11.1 Introduction
     11.2 Automotive Timing Belt: Market Ranking Analysis, 2016
     11.3 Competitive Situation & Trends
             11.3.1 New Product Launch/New Product Development/New Technology
             11.3.2 Supply Contracts & Partnerships
             11.3.3 Expansions/Investments
             11.3.4 Mergers & Acquisitions/Joint Ventures/Collaborations

12 Company Profiles (Page No. - 91)
(Overview, Product Offerings, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
     12.1 Continental
     12.2 Borgwarner
     12.3 Schaffler
     12.4 SKF
     12.5 Toyoda
     12.6 NTN
     12.7 Aisin
     12.8 Tsubakimoto
     12.9 Fenner
     12.10 Goodyear

*Details on Overview, Product Offerings, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 116)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
             13.5.1 Timing Belt Market By Hybrid Vehicle Type & Belt Type
                        13.5.1.1 HEV
                        13.5.1.2 PHEV
             13.5.2 Timing Belt Oe Market By Component Type, By Country
                        13.5.2.1 Tensioners
                        13.5.2.2 Idler Pulleys
                        13.5.2.3 Timing Shield/Cover
                        13.5.2.4 Sprocket
             13.5.3 Timing Belt Aftermarket By ICE Vehicle Type, By Country
                        13.5.3.1 Passenger Vehicle
                        13.5.3.2 Commercial Vehicle
     13.6 Related Reports
     13.7 Author Details


List of Tables (78 Tables)

Table 1 Currency Exchange Rates (Per USD)
Table 2 Timeline of Euro Regulations for Heavy-Duty Engines & Passenger Vehicles, 2000–2015
Table 3 Timing Belt Market Size, By ICE Vehicle Type, 2015–2025 (‘000 Units)
Table 4 Timing Belt Market Size, By ICE Vehicle Type, 2015–2025 (USD Million)
Table 5 Timing Belt Market for Passenger Vehicles, By Region, 2015–2025 (‘000 Units)
Table 6 Timing Belt Market for Passenger Vehicles, By Region, 2015–2025 (USD Million)
Table 7 Timing Belt Market for Commercial Vehicles, By Region, 2015–2025 (‘000 Units)
Table 8 Timing Belt Market for Commercial Vehicles, By Region, 2015–2025 (USD Million)
Table 9 Timing Belt Market Size, By Hybrid Vehicle Type, 2015–2025 (‘000 Units)
Table 10 Timing Belt Market Size, By Hybrid Vehicle Type, 2015–2025 (USD Million)
Table 11 Timing Belt Market for Hybrid Electric Vehicles, By Region, 2015–2025 (‘000 Units)
Table 12 Timing Belt Market for Hybrid Electric Vehicles, By Region, 2015–2025 (USD Million)
Table 13 Timing Belt Market for Plug-In Hybrid Electric Vehicle, By Region, 2015–2025 (‘000 Units)
Table 14 Timing Belt Market for Plug-In Hybrid Electric Vehicle, By Region, 2015–2025 (USD Million)
Table 15 Timing Belt Market Size, By Component, 2015–2025 (‘000 Units)
Table 16 Timing Belt Market Size, By Component, 2015–2025 (USD Million)
Table 17 Tensioner Market Size, By Region, 2015–2025 (‘000 Units)
Table 18 Tensioner Market Size, By Region, 2015–2025 (USD Million)
Table 19 Idler Pulley Market Size, By Region, 2015–2025 (‘000 Units)
Table 20 Idler Pulley Market Size, By Region, 2015–2025 (USD Million)
Table 21 Timing Belt Shield Market Size, By Region, 2015–2025 (‘000 Units)
Table 22 Timing Belt Shield Market Size, By Region, 2015–2025 (USD Million)
Table 23 Sprocket Market Size, By Region, 2015–2025 (‘000 Units)
Table 24 Sprocket Market Size, By Region, 2015–2025 (USD Million)
Table 25 Timing Belt Market Size, By Region, 2015–2025 (‘000 Units)
Table 26 Timing Belt Market Size, By Region, 2015–2025 (USD Million)
Table 27 Asia Oceania: Timing Belt Market Size, By Country, 2015–2025 (‘000 Units)
Table 28 Asia Oceana: Timing Belt Market Size, By Country, 2015–2025 (USD Million)
Table 29 China: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 30 China: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 31 Japan: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 32 Japan: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 33 India: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 34 India: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 35 South Korea: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 36 South Korea: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 37 Europe: Timing Belt Market Size, By Country, 2015–2025 ('000 Units)
Table 38 Europe: Timing Belt Market Size, By Country, 2015–2025 (USD Million)
Table 39 France: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 40 France: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 41 UK: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 42 UK: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 43 Germany: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 44 Germany: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 45 Spain: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 46 Spain: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 47 Rest of Europe: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 48 Rest of Europe: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 49 North America: Timing Belt Market Size, By Country, 2015–2025 (‘000 Units)
Table 50 North America: Timing Belt Market Size, By Country, 2015–2025 (USD Million)
Table 51 Canada: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 52 Canada: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 53 Mexico: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 54 Mexico: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 55 US: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 56 US: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 57 RoW: Timing Belt Market Size, By Country, 2015–2025 (‘000 Units)
Table 58 RoW: Timing Belt Market Size, By Country, 2015–2025 (USD Million)
Table 59 Brazil: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 60 Brazil: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 61 Russia: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 62 Russia: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 63 RoW Others: Timing Belt Market Size, By Drive Type, 2015–2025 (‘000 Units)
Table 64 RoW Others: Timing Belt Market Size, By Drive Type, 2015–2025 (USD Million)
Table 65 Timing Belt Aftermarket Size, By Region, 2015–2025 (‘000 Units)
Table 66 Timing Belt Aftermarket Size, By Region, 2015–2025 (USD Million)
Table 67 Asia Oceania: Timing Belt Aftermarket Size, By Vehicle Type, 2015–2025 (‘000 Units)
Table 68 Asia Oceania: Timing Belt Aftermarket Size, By Vehicle Type, 2015–2025 (USD Million)
Table 69 Europe: Timing Belt Aftermarket Size, By Vehicle Type, 2015–2025 (‘000 Units)
Table 70 Europe: Timing Belt Aftermarket Size, By Vehicle Type, 2015–2025 (USD Million)
Table 71 North America: Timing Belt Aftermarket Size, By Vehicle Type, 2015–2025 (‘000 Units)
Table 72 North America: Timing Belt Aftermarket Size, By ICE Vehicle Type, 2015–2025 (USD Million)
Table 73 RoW: Timing Belt Aftermarket Size, By Vehicle Type, 2015–2025 (‘000 Units)
Table 74 RoW: Timing Belt Aftermarket Size, By Vehicle Type, 2015–2025 (USD Million)
Table 75 New Product Launch/New Product Development/New Technology, 2014–2017
Table 76 Supply Contracts & Partnerships, 2014–2017
Table 77 Expansions, 2014–2016
Table 78 Mergers & Acquisitions/Joint Ventures/Collaborations, 2014


List of Figures (40 Figures)

Figure 1 Timing Belt Market: Market Segmentation
Figure 2 Timing Belt Market: Research Design
Figure 3 Research Methodology Model
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 5 Average Annual Household Disposable Income, (USD)
Figure 6 Timing Belt Market: Bottom-Up Approach
Figure 7 Timing Belt Market, By Region, 2017 vs 2025 (USD Million)
Figure 8 Timing Belt Market, By ICE Vehicle, 2017 vs 2025 (USD Million)
Figure 9 Timing Belt Market, By Component, 2017 vs 2025 (USD Million)
Figure 10 Timing Belt Market, By Hybrid Vehicle Type, 2017 vs 2025 (USD Million)
Figure 11 Timing Belt Aftermarket, By Vehicle Type, 2017 vs 2025 (USD Million)
Figure 12 Rising Vehicle Production & Increasing Adoption of Direct Injection Engines Shall Lead to the Growth of the Timing Belt Market From 2017 to 2025
Figure 13 Asia Oceania is Estimated to Be the Largest & Fastest Growing Timing Belt Market During the Forecast Period (‘000 Units)
Figure 14 Passenger Vehicle Segment Holds the Largest Share of the Timing Belt Market, 2017 vs 2025 (USD Million)
Figure 15 HEV Timing Belts are Estimated to Have the Largest Market Size, 2017 vs 2025 (‘000 Units)
Figure 16 Tensioners are Expected to Lead the Timing Belt Market, By Component, 2017 vs 2025 (USD Million)
Figure 17 Passenger Car Timing Belt is Estimated to Have the Largest Aftermarket Size, 2017 vs 2025 (USD Million)
Figure 18 Timing Belt Market: Market Dynamics
Figure 19 Global Passenger Car Vehicle Parc, 2005–2015 (Thousand Units)
Figure 20 Annual Miles Travelled Per Year in the US (Thousand Miles)
Figure 21 Europe: Sales of Battery Electric Vehicles, 2011–2015 (‘000 Units)
Figure 22 Passenger Vehicles is Expected to Be the Largest Oe Market By ICE Vehicle Type for Timing Belts During the Forecast Period (USD Million)
Figure 23 North America is Expected to Be the Fastest Growing Region for the Hybrid Vehicle Timing Belt Market, 2017 vs 2025 (USD Million)
Figure 24 Timing Belt Market, By Component, 2017 vs 2025 (USD Million)
Figure 25 Timing Belt Market, By Region, 2017 vs 2025 (USD Million)
Figure 26 Asia Oceania: Automotive Timing Belt Market Snapshot
Figure 27 Europe: Timing Belt Market Size, By Country, 2017 vs 2025 (USD Million)
Figure 28 North America: Automotive Timing Belt Market Snapshot
Figure 29 Passenger Vehicle Segment is Expected to Lead the Timing Belt Aftermarket During the Forecast Period (USD Million)
Figure 30 Automotive Timing Belt Market Ranking, 2016
Figure 31 Continental: Company Snapshot (2016)
Figure 32 Borgwarner: Company Snapshot (2016)
Figure 33 Schaeffler: Company Snapshot (2016)
Figure 34 SKF: Company Snapshot (2016)
Figure 35 Toyoda: Company Snapshot (2015)
Figure 36 NTN: Company Snapshot (2016)
Figure 37 Aisin: Company Snapshot (2016)
Figure 38 Tsubakimoto: Company Snapshot (2016)
Figure 39 Fenner: Company Snapshot (2016)
Figure 40 Goodyear: Company Snapshot (2016)

The timing belt market is projected to grow at a CAGR of  5.21% during the forecast period, to   reach a market size of USD 9.22 Billion by 2025 from USD 6.14 Billion in 2017. The timing belt OE market is driven by the increasing adoption of direct injection engines and rising vehicle production globally. The growing vehicle parc as well as increase in average miles driven per year are identified as the key factors influencing the timing belt aftermarket.

The passenger car segment is estimated to be the largest market, by volume as well as value, for the timing belt OE market, by ICE vehicle type. According to OICA publication, the passenger car production has increased from 59.89 million units in 2011 to 72.10 million units in 2016. This trend is projected to continue for the next five to seven years, owing to reasons such as rising consumer disposable income and vehicle ownership. Alternatively, the Hybrid Electric Vehicle (HEV) segment is expected to dominate the timing belt market, by hybrid vehicle type. The higher production and adoption of HEVs, as compared to PHEVs (Plug-in Hybrid Electric Vehicle), is leading to the growth of timing belt systems in HEV segment.

Tensioners are expected to lead the timing belt market, by component, in terms of value. The types of tensioners may vary depending upon their application in a timing belt and timing chain. On the basis of damping structure, auto tensioners can also be segmented into hydraulically operated and frictional systems. The usage of tensioners in timing belts and chains and relatively higher pricing have led to the growth of the timing belt market.

North America is estimated to lead the timing belt aftermarket by region. The high vehicle parc and average miles driven per vehicle have led to the growth of the timing belt aftermarket in North America. The vehicle parc for North America has grown from 302,513 thousand units in 2011 to 324,763 thousand units in 2015. As per OICA, the US contributed around 63.9% of the total vehicle parc of North America in 2015. Mexico and Canada contributed 9% and 5.6%, respectively of the total vehicle parc of North America in the same year. Thus, the high vehicle parc shall positively impact the timing belt aftermarket in the region.

Timing Belt Market

Asia Oceania is estimated to be the largest and fastest growing timing belt market during the forecast period. Countries such as China, Japan, and India are the leading markets in the region in terms of vehicle production. The production of passenger cars is the highest in the Asia Oceania region and has grown from 40.57 million units in 2011 to 43.85 million units in 2016 as per OICA. Asia Oceania contributed around 60.66% of the global passenger car production in 2016 as per OICA. The availability of cheap labor is one of the primary reasons for the high vehicle production in the region. China contributed 55.69% of the total passenger car production in Asia Oceania in 2016. Japan and India contributed 17.95% and 8.39% of the passenger car production, respectively in 2016. These factors have helped Asia Oceania to become the largest timing belt market.

The increasing adoption of direct injection engines by automotive OEMs and rise in global vehicle production shall lead to the growth of the timing belt OE market. Also, rising vehicle population and increase in average miles driven per vehicle would lead to higher replacement and growth of the timing belt aftermarket. The timing belt market is dominated by key players such as Continental (Germany), iwis motorsysteme (Germany), SKF (Sweden), BorgWarner (US), Tsubakimoto Chain (Japan), and others.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

Please visit https://www.marketsandmarkets.com/knowledge-process-outsourcing-services.asp to specify your custom Research Requirement

Connect With Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441
UK : 44-800-368-9399

Search reports



Access reports on all high
growth Engine and Exhaust Systems Markets on KnowledgeStore
Request Demo