LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global industrial belt drives market report until 2020. This research report also lists 6 other prominent vendors that are expected to impact the market during the forecast period.
The global industrial belt drives market is mainly be driven by the demand generated from the material handling industry and industrial machinery industry. In addition, the rising need for automation in both discrete and process industries will drive revenues for industrial belt drives segment. Synchronous type of belt drivers will continue market dominance due to high modulus of elasticity and energy efficiency.
“APAC will be the fastest developing market during the forecast period due to rising levels of industrial development and manufacturing activities. However, EMEA will continue to be the market leader in terms of revenue share due to the prominence of an established industrial sector. Considering the presence of alternate technologies such as chain drives, gear drives, and variable frequency drives, we expect the demand for industrial belt drives in the Americas to grow marginally during the forecast period,” says Bharath Kanniappan, one of the lead analysts at Technavio for automation research.
Competitive vendor landscape
The global industrial belt drives market is fragmented with the presence of many vendors worldwide. Few vendors in APAC have started to make their presence felt in the market by providing low-priced products to compete with the American and European vendors. Maintaining profit margin while delivering products at competitive prices is the major issue faced by the established vendors in the market. Diversifying businesses to increase product portfolio will likely ensure the survival of vendors.
With the emergence of low-cost manufacturers in the market, established vendors need to find ways to differentiate their products in the global market. More low-cost belt drive manufacturers are entering the global market, predominantly from China. Vendors are also making investments in R&D to produce high grade and customized products to end-users.
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Top five vendors in the global industrial belt drives market:
Gates is a major vendor, which has expertise in manufacturing and supplying power transmission belts and fluid power products. The company provides automotive aftermarket parts that consist of hydraulics, belts, hoses, accessories, and tools to be used for fleets, cars, recreational vehicles, and light trucks along with the industrial belts, hydraulics, hoses, sheaves, and sprockets and equipment. These automotive aftermarket parts are used in areas of F&B, mining, agriculture, processing, transportation, oil and gas, and other markets.
The company provides its products via authorized distributors and representatives in North America and worldwide. It serves its customers with its products and services belonging to sectors such as infrastructure and agriculture (mobile equipment); energy or oil and gas exploration and extraction; fleet and heavy-duty transportation; automotive or passenger cars and light trucks; and process and specialty manufacturing.
Optibelt offers drive systems mainly for the commercial vehicles as well as buses. This company provides a range of products such as timing belts, V-belts, polyurethane timing, and rubber timing along with pulleys and elastomeric sheeting driving ventilators, air conditioning systems, generators, and water pumps.
The products provided are used for applications such as agricultural machinery, general machine construction, and general and commercial vehicles along with office and household appliances. The company is operating eight production facilities across six countries worldwide.
ContiTech manufactures and markets rubber and plastic products that are primarily used in the automotive market worldwide. It also produces and markets engineered rubber products. This unit offers commercial and automotive aftermarket parts such as tensioners, belts, air springs, and hoses and hose accessories; color and surface profiles; above and below ground conveyor belt and splice materials; lawn mower belts, garden hoses, and garage accessories; rubber, polyvinyl chloride (PVC), and plastic hoses and fittings; crimpers, fittings, and additional accessories; and high-performance all-terrain vehicle (ATV) and snowmobile belts along with rubber tracks and rubberized track components.
Dayco focuses on R&D, producing, and distributing drive systems, engine products, and services used for trucks, agriculture, automobiles, construction sectors. This company has its industrial business unit that targets the global industrial belt drives market. This business unit supplies the original equipment market with its innovative drive system solutions and engine products designed for maximizing durability and performance.
Fenner is a major vendor providing industrial belts and other products. This company is known for producing silicone as well as industrial conveyor belting products. It produces reinforced polymer technology.
The company targets the global industrial belt drives market with the help of its business unit named Engineered Conveyor solutions. This business unit is known for providing a comprehensive range of products and services supporting the conveying requirements of power generation, mining, and bulk handling.
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