The global V-belt industry is driven by manufacturing industries as V-belts are considered as workhorse available from virtually every distributor and adaptable to practically any drive.
New York, NY -- (SBWIRE) -- 09/06/2017 -- Global V-Belt Market: Market Dynamics
The global V-belt industry is driven by manufacturing industries as V-belts are considered as workhorse available from virtually every distributor and adaptable to practically any drive. They are presently available in the wide variety for transmitting almost any amount of load power. Moreover, v-belt can be used in all orientations i.e. horizontal, vertical or inclined and when a number of v-belts are used the breakdown of one belt does not stop the operation of the others this is another reason for boosting the growth of the global v-belt market.
The key factor restraining the global V-Belt market is that the v-belt cannot be used where synchronous speeds are required. Flat belts are substitutes of V-belts as flat belts can be used for large center distances and have better power transfer efficiency.
Global V-belt market: Segment Overview
There will be growth in the v-belt market as there is anticipated improvements in automotive, food processing and aerospace industries, however, manufacturing industry is making a slow recovery.
Global V-belt market: Regional overview
Based on the geographies, the global V-belt market is fragmented into seven key regions- North America, Latin America, Western Europe, Eastern Europe, and Asia-Pacific except Japan, Japan, and Middle East & Africa. Among the regions mentioned above the Asia Pacific ranks as the fastest growing market.
The demand for v-belts will increase in Asia Pacific and the Middle East & Africa due to growth in oil refineries and mining sector and the demand for V- Belts is increasing in North America and Eastern Europe which are considered as the hub for manufacturing companies. Countries like India, South Africa, and China will have more demands for the v- belt market due to decline in Europe's economy. Overall the outlook for the global V-belt market will have a positive growth over the forecasted period with the increase in manufacturing companies.
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Global V-Belt Market: Market Players
Some of the market players identified in the global V- belt market includes: Belt Technologies, Inc., ContiTech AG, SANMEN FUWEI RUBBER BELT MANUFACTURING CO., LTD, Mitsuboshi Belting Ltd., Gates Corporation., Goodyear rubber products,Volta Belting Technology Ltd., Optibelt GmbH AGB, Bando USA.,
Zhejiang jinjiu rubber belt Co Ltd, TEXROPE.
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