An Incisive, In-depth Analysis on the Automotive Timing Chain Belt Market
This study offers a comprehensive, 360 degree analysis on the Automotive Timing Chain Belt market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Automotive Timing Chain Belt market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Strengthening of regulatory norms across the globe anticipated to shape the future of the automotive timing chain and belt market
Manufacturers in the global automotive timing chain and belt market are focussing on the introduction of new application specific product offerings to address customer specific requirements. Moreover, market players are channelizing efforts towards strengthening their distribution channels while focussing on direct sales. Enhancing product quality by implementing new technologies and adopting new, tough and long lasting materials with added features at a competitive price while focussing on enhancing the safety of vehicles is a key strategy that is being adopted by the top companies in the market. End-use industries that are generally OEMs or aftermarket suppliers procure various types of automotive timing chains and belts, primarily from distributors or through direct purchases in the global automotive timing chain and belt market. However, online sales channels are gaining wide prominence, especially in developed regions such as Europe, Japan and North America.
Growing vehicle production rate is estimated to propel the demand for automotive chains and belts in the APEJ region
APEJ is estimated to dominate the global automotive timing chain and belt market with more than 35% market value share, valued at more than US$ 2,500 Mn at the end of 2017. This regional market is expected to expand at a CAGR of 5.3% over the forecast period. Growing economies in the APEJ region such as China, India and ASEAN countries are estimated to contribute significantly to the growth of vehicle production. Furthermore, the market for all vehicle types in this region is growing at a good pace and this is likely to propel the sales of automotive timing chains and belts over the forecast period. Western Europe is the second largest regional market after APEJ in terms of revenue share. The Western Europe automotive timing chain and belt market accounted for a value share of over 20% in the global market, and was valued at more than US$ 1,490 Mn in 2017. This regional market is expected to register a growth rate of 4.1% during the forecast period.
Growth of direct injection engines and rise in vehicle production is one of the significant factors that is expected to create a positive impact on the global market for automotive timing chains and belts
Countries such as the U.S and Canada witness the maximum demand for vehicles, and this is expected to ultimately boost revenue growth of the global automotive timing chain and belt market. For instance, in 2016, the U.S. exported almost 1.2 million vehicles all across the world, with additional exports of automotive parts. In the same year, the U.S also produced over 12 Mn light vehicles. The United States of America has become the world’s second largest market for vehicle production and sales. Asia Pacific countries such as India and China have been witnessing good economic growth for the last few years. This growth includes manufacturing activities and rapid industrialisation in this region. These growing activities are likely to increase the demand for construction equipment and the associated components, which in turn is expected to boost the growth in demand for automotive timing chains and belts.
Our new report focusses on the performance of the global automotive timing chain and belt market for a period of 10 years from 2017 to 2027. Our expert team of analysts have covered various facets of the market and have studied the key players operating in the global automotive timing chain and belt market. The company share analysis represents estimated market share of manufacturers and suppliers of automotive timing chain and belt based on their revenue and product offerings. The market share analysis is subject to volatility due to recent divestments, expansions and mergers and acquisitions of players in the global market. Our report presents information on the volume sales and the value generated from the sales of automotive timing chain and belt. The report covers sales of timing chain and belt equipped in engine thermal management and seat heaters used in passenger cars, light commercial vehicles and heavy commercial vehicles. The report provides a holistic view of the market and highlights sales revenue through the OEM and aftermarket sales channels.
Automotive Timing Chain and Belt Market Share Analysis
We have validated critical market data through extensive primary interviews with industry experts and exhaustive secondary research. The product mapping of automotive timing chain and belt manufacturers in the respective business segments of the industry has been done to provide a crystal clear scenario of the global market structure. We have also mentioned the breakdown of the key players’ businesses into segments under which they operate in the global automotive timing chain and belt market. Accordingly, we have also calculated the annual revenue for each segment. Recording and analysing the overall annual revenue of key automotive timing chain and belt manufacturers has been examined for the year 2017 on the basis of companies’ annual reports and exhaustive secondary research.
Forecast Assumptions and Market Sizing
When developing the market forecast, we have started by sizing the current market, which forms the basis for forecasting how the market is anticipated to perform in future. We have considered the product-wise Weighted Average Selling Price (ASP) to deduce market values at a regional level. We have used the bottom-up approach to counter-validate the market numbers while top-down approach has been used to assess market numbers for each vehicle type. Macroeconomic indicators such as GDP, manufacturing sector growth, global trade statistics and household final expenditure have been considered. All values for market size are in US$ Mn (US Dollar Million) and volume data is in units unless specified otherwise.
Market Segmentation
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Research Methodology
We have adopted a systematic research approach while studying the global automotive timing chain and belt market. In-depth secondary research is used to arrive at the overall market size, top industry players, top products and industry associations. Our analysts have formulated a detailed discussion guide in order to conduct expert and industry interviews. We have also conducted interviews with industry experts, industry players, distributors and retailers. Data is validated using the triangulation method, wherein primary and secondary research along with our independent analysis contributes to the final data. We have also analysed the various companies’ annual reports, investor presentations, SEC filings, reports and press releases to fetch substantial information about the market size, trends, opportunities, drivers, and restraints currently governing the global automotive timing chain and belt market.
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