Rubber Transmission Belts Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022 - 2027

Report Code: CMR 66332 Report Format: PDF + Excel

Rubber Transmission Belts Market Overview

Rubber transmission belts market size is estimated to be US$7.3 billion in 2027 and is forecasted to grow at a CAGR of 5.1% during 2022-2027. Industrial growth, the increased number of cities around the globe, and the increase in mining operations are likely to advance the global rubber transmission belts market in the forecast period. Rubber transmission belts made up of polyurethane have higher strength compared to natural rubber. Increasing demand for industrial belts in the chemical, pharmaceutical, food and beverage industries is expected to boost the market in the coming years. Moreover, power transmission belts gain strength due to the presence of polyurethane components. Thus, there is a huge increase in the use of rubber belts in mills, agriculture, automobiles, and machinery. This feature suggests that retailers operating in the global rubber transmission belts market will accumulate promising sales opportunities in the years to come.

Rubber Transmission Belts Market COVID-19 Impact

The coronavirus has had a profound impact on businesses worldwide and, as a result, among the rubber industry. Virtually all sectors around the world have reported declining demand as defence measures become more effective that reduce economic activity and affect health.
The manufacturing of rubber products is a labor-intensive industry and has about 6,000 medium and small-scale enterprises that employ about 6 lakh people directly. Another 0.7 million people were hired indirectly. Apart from the automotive industry, mining, medical, aerospace, agricultural, construction, machinery, machinery, engineering and electronics industries are the mainstays of the domestic rubber industry. In 2019, exports of Indian rubber products amounted to US$ 3,193.97 million. With the launch of Covid-19, these numbers have been dramatically declined in 2020.

Report Coverage

The report: “Rubber Transmission Belts Market Report– Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the rubber transmission belts industry.

By Design: Stretch, Semi-Stretch, Non-Stretch

By Rubber-Type: Urethane Rubber, Neoprene Elastomer, Hypalon Rubber, Ethylene Rubber, Propylene Diene, Monomer Rubber, Silicone Rubber, Natural Rubber, Others.

By Product: Raw Edged Belts, V-Belts (Raw Edged, V-Belts, Narrow V-Belts, Ribbed V-Belts, Classic V-Belts), Timing Belts (Synchronous Belt, Circular Arc Tooth Belt, T-Type Belt), Wrapped Belts, Specialty Belts, Flat Belts, Grooved Belts, Round Belts, Ribbed Belts, Others.

By Application: Industrial, Agricultural Equipment, Automotive Components, Building & Construction, Mining, Aerospace, Food And Processing Industries, Textile Industry, Others.

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East, and Africa).

Key Takeaways

  • The global rubber transmission belts market has great potential for growth during the forecast period. A major factor in its market growth is rapid industrial development and urbanisation, leading to an increase in demand for these belts from a variety of end-to-end industries such as agriculture, chemicals, food and beverage, pharmaceuticals and growing mining activities.
  • Easy availability of raw materials will reap its influence on the global rubber transmission belts market in the next few years. However, companies with small to medium size produce rubber transmission belts at very low cost due to the availability of many resources and cheap labor.
  • The global and local players have undergone several key strategies such as product innovation, launch, mergers, acquisitions, partnerships to capture the better market and capture better is expected to propel the market and pose several opportunities in the global rubber transmission belts market.

Asia-Pacific Rubber Transmission Belts Market Revenue, 2021-2027 (US$ Billion)

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Rubber Transmission Belts Market Segment Analysis – By Product Type

V-belts held the largest share in the rubber transmission belts market in 2021 and is expected to grow at a CAGR of 4.3% during the forecast period. V-belts are used in various industries depending on the application and purpose. V-belts are made of polyesters and are widely used in internal combustion engines to rotate the wheels. Moreover, V-belts are they are suitable for high power transmission in short rotations. The V-belt angle is usually between 30 inches to 40 inches. To increase power output, a few V-belts may work side by side so that the load is evenly distributed between them.
The major pros of V-belts are that they have high transmission capacity with high, the performance of the belt and pulley is smooth, provides tightness due to the small distance between the centers of the pulleys, the axis can be horizontal, vertical or curved, V-belts can reduce vibration. Specialty belts can be designed with customizations so that they can be used in specific applications. The aforementioned wide adaptability of V-belts is expected to drive the market segment in the forecasted period.

Rubber Transmission Belts Market Segment Analysis – By Application

The industrial segment held a significant share of around 46.5% in the Rubber transmission belts market in 2021 and is expected to grow at a CAGR of 5.3% during the forecast period.
Rubber transmission belts are widely used in industrial machinery. Rubber transmission belts are applied in automotive parts and agricultural services. However, at lower prices than industrial equipment, rubber transmission belts offer a variety of benefits. Therefore, it is the preferred choice in sectors such as industry, automotive parts, agricultural equipment, and mining. The recent COVID-19 epidemic has had a devastating effect on virtually every industrial sector, including the global rubber transmission belts market. Vendors operating in the global market for rubber transmission belts face many challenges related to demand and manufacturing activities. As a result, there is a significant disruption in supply chains. All of these factors have had a negative impact on the overall income of many players working in the global rubber requiring market. To reduce the impact of the COVID-19 epidemic, many companies around the world have begun their slow production operations. Therefore, the growing efforts of businesses to regain their normal operations will help to improve the business conditions prevailing in the rubber transmission belts market worldwide in the years to come.

Rubber Transmission Belts Market Segment Analysis – By Geography

The Asia Pacific dominated the market in terms of volume and revenue by 2021. In terms of revenue, the Asia Pacific region held the largest share more than 50% in the Rubber transmission belts market in 2021, owing to the various players in the region.
Market growth in the Asia Pacific region is mainly due to industrial belts requirement in automotive, textiles, processing industries, and others. The increased demand for vehicles in Asia has had a positive impact on the rubber transmission belts market in the region. Furthermore, The availability of affordable jobs and plenty of resources have enabled cheap Asian companies to make rubber transmission belts at very low prices. Therefore, a few established American and European players find the Asia Pacific market to be competitive to make an entry and integrate their presence into the region, this has positively affected the Asian market for the rubber transmission belts market. For an instance, according to the Statista research department, India's automotive parts and components market value was around US$ 51.2 billion in 2018 and has drastically increased US$ 56.52 billion in 2019. The data depicts the demand for automotive parts in the country. This demand is expected to fuel the production of parts leading to a higher market capitalisation of the rubber transmission belts market.

Rubber Transmission Belts Market – Drivers

Higher Availability and Superior Properties of Rubber

Increased Demand from Different industries Fuel Industry Opportunities to Increase Manufacturers of Rubber Belts transmission belts. There is a huge increase in the use of rubber belts in mills, agriculture, automobiles, and machinery. This feature suggests that retailers operating in the global rubber market will accumulate promising sales opportunities in the coming years. It also works under low-temperature conditions. It is a complete wheel architecture. To add on, properties such as heat and abrasion make rubber an extremely useful and valuable raw material for various end-to-end industries including transmission belts. According to Malaysian Rubber Board, the global consumption of rubber was around 28,412 Kilo tons in 2018 and has increased to 29,086 Kilo tons in the preceding year. The growing demand from the various manufacturing industries augmented with easy availability is one of the key trends in the rubber transmission belts market.

Increased Number of Vehicles on Road

Rubber transmission belts are majorly known in the automotive industry. The growing demand for rubber raw material is owed by the smooth run and noiseless operation of rubber transmission belts. Apart from this, cost efficiency is an additional factor that stimulates the demand for these products. Because of all these factors, retailers from the global rubber transmission belts market are quoting the industry with a supportive note. According to the ministry of road transport and highways of India, the total number of vehicles manufactured are approximately US$ 272.59 million in 2018 and has increased to US$ 295.77 million in 2019. The increased manufacturing volume of vehicles indicates the demand for manufacturing units that consumes rubber transmission belt products.

Rubber Transmission Belts Market – Challenges

Fluctuating Rubber Prices

The rubber industry as a raw material supplier is observed to be uncertain and heterogeneous in nature. This is due to the consumption of rubber from the high number of end-users including not only in the automotive industry, but also in the consumer goods, consumer goods, and industries. The rubber transmission belts market uses two types of rubber wiz natural rubber and synthetic rubber. According to the International Rubber Study Group, The Raw Material Price Index for rubber stood at about 18% higher in 2021 than the previous year. This is expected to raise the prices of rubber by 10% in 2021, compared to 2020. According to the World Bank's Commodity Markets Outlook., Prices for natural rubber are as high as 70% in May 2021 compared to 2020, with many manufacturers closing due to COVID-19 restrictions and weak demand for vehicles which
contributes around 2/3rd of the natural rubber consumption. On the consumption side, there are still problems with the availability of workers in countries due to workflow restrictions. Rubber prices are expected to continue to fluctuate further, compared to 2020, before stabilising in 2022. Hence, the fluctuating prices have a hurdling impact on the rubber transmission belts market as rubber is the major raw material to manufacture the products.

Rubber Transmission Belts Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in this market. Rubber transmission belts market. Rubber transmission belts market top 10 companies are:

  1. ContiTech AG
  2. Gates Industrial Corporation plc
  3. Mitsuboshi Belting Ltd.
  4. HIC International Co Inc.
  5. Jonson Rubber Industries Limited
  6. SKF
  7. Chiorino S.p.A.
  8. Megadyne Group
  9. Habasit AG
  10. Singer Equities, Inc

Recent Developments

  • In February 2021. Continental AG has expanded its production capacity of rubber transmission belts by inaugurating its new production facility with an investment of approximately 1.6 million in Dannenberg, Germany. This is expected to pacify the market demand leading to higher sales in the region.
  • In June 2021, Gates Industrial Corporation Plc,  one of the leading providers of rubber transmission belts, has launched two new rubber transmission belts, Gates Parabolic Pitch (GPP) at 8mm and 14mm measurements. The new GPP belts are stronger, stronger, quieter, safer and need less maintenance than other products.
  • In June 2021, Singer Equities, Inc has acquired OB&E Rubber Company, based in the United States. OB&E Rubber manufactures rubber transmission belts and conveyor belts. OB&E operates in several markets including power generation, consolidation, recycling and resale.

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1. Rubber Transmission Belts Market- Market Overview
    1.1 Definitions and Scope
2. Rubber Transmission Belts Market - Executive Summary
    2.1 Key Trends by Design
    2.2 Key Trends by Rubber Type
    2.3 Key Trends by Product
    2.4 Key Trends by Application
    2.5 Key Trends by Geography
3. Rubber Transmission Belts Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Rubber Transmission Belts Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Rubber Transmission Belts Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Rubber Transmission Belts Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Rubber Transmission Belts Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Rubber Transmission Belts Market – By Design (Market Size -US$ Million/Billion)
    8.1 Stretch
    8.2 Semi-stretch
    8.3 Non-stretch
9. Rubber Transmission Belts Market – By Rubber Type (Market Size -US$ Million/Billion)
    9.1 Urethane rubber
    9.2 Neoprene elastomer
    9.3 Hypalon rubber
    9.4 Ethylene rubber
    9.5 Propylene Diene Monomer rubber
    9.6 Silicone rubber
    9.7 Natural rubber
    9.8 Others
10. Rubber Transmission Belts Market – By Product (Market Size -US$ Million/Billion)
    10.1 Raw Edged Belts
    10.2 V-belts
            10.2.1.1 Raw Edged V-Belts
            10.2.1.2 Narrow V-Belts
            10.2.1.3 Ribbed V-Belts
            10.2.1.4 Classic V-Belts
    10.3 Timing Belts
            10.3.1.1 Synchronous driving belt
            10.3.1.2 Circular arc tooth belt
            10.3.1.3 T-Type Belt
    10.4 Wrapped Belts
    10.5 Specialty Belts
    10.6 Flat Belts
    10.7 Grooved Belts
    10.8 Round Belts
    10.9 Ribbed Belts
    10.10 Others
11. Rubber Transmission Belts Market – By Application (Market Size -US$ Million/Billion)
    11.1 Industrial
    11.2 Automotive components
    11.3 Agricultural equipment
    11.4 Building & construction
    11.5 Mining
    11.6 Aerospace
    11.7 Food and processing industries
    11.8 Textile industry
    11.9 Others
12. Rubber Transmission Belts Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zeeland
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Rubber Transmission Belts Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Rubber Transmission Belts Market – Industry/Competition Segment Analysis Premium
    14.1 Company Benchmarking Matrix – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Rubber Transmission Belts Market – Key Company List by Country Premium Premium
16. Rubber Transmission Belts Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best effort basis for private companies"

LIST OF TABLES

1.Global Rubber Transmission Belts Market Analysis and Forecast, by Product, Market 2019-2024 ($M)
1.1 Raw Edged Belts Market 2019-2024 ($M) - Global Industry Research
1.2 V-belts Market 2019-2024 ($M) - Global Industry Research
1.3 Timing Belts Market 2019-2024 ($M) - Global Industry Research
1.4 Wrapped Belts Market 2019-2024 ($M) - Global Industry Research
1.5 Specialty Belts Market 2019-2024 ($M) - Global Industry Research
2.Global Competition Landscape Market 2019-2024 ($M)
3.Global Rubber Transmission Belts Market Analysis and Forecast, by Product, Market 2019-2024 (Volume/Units)
3.1 Raw Edged Belts Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 V-belts Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Timing Belts Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 Wrapped Belts Market 2019-2024 (Volume/Units) - Global Industry Research
3.5 Specialty Belts Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Competition Landscape Market 2019-2024 (Volume/Units)
5.North America Rubber Transmission Belts Market Analysis and Forecast, by Product, Market 2019-2024 ($M)
5.1 Raw Edged Belts Market 2019-2024 ($M) - Regional Industry Research
5.2 V-belts Market 2019-2024 ($M) - Regional Industry Research
5.3 Timing Belts Market 2019-2024 ($M) - Regional Industry Research
5.4 Wrapped Belts Market 2019-2024 ($M) - Regional Industry Research
5.5 Specialty Belts Market 2019-2024 ($M) - Regional Industry Research
6.North America Competition Landscape Market 2019-2024 ($M)
7.South America Rubber Transmission Belts Market Analysis and Forecast, by Product, Market 2019-2024 ($M)
7.1 Raw Edged Belts Market 2019-2024 ($M) - Regional Industry Research
7.2 V-belts Market 2019-2024 ($M) - Regional Industry Research
7.3 Timing Belts Market 2019-2024 ($M) - Regional Industry Research
7.4 Wrapped Belts Market 2019-2024 ($M) - Regional Industry Research
7.5 Specialty Belts Market 2019-2024 ($M) - Regional Industry Research
8.South America Competition Landscape Market 2019-2024 ($M)
9.Europe Rubber Transmission Belts Market Analysis and Forecast, by Product, Market 2019-2024 ($M)
9.1 Raw Edged Belts Market 2019-2024 ($M) - Regional Industry Research
9.2 V-belts Market 2019-2024 ($M) - Regional Industry Research
9.3 Timing Belts Market 2019-2024 ($M) - Regional Industry Research
9.4 Wrapped Belts Market 2019-2024 ($M) - Regional Industry Research
9.5 Specialty Belts Market 2019-2024 ($M) - Regional Industry Research
10.Europe Competition Landscape Market 2019-2024 ($M)
11.APAC Rubber Transmission Belts Market Analysis and Forecast, by Product, Market 2019-2024 ($M)
11.1 Raw Edged Belts Market 2019-2024 ($M) - Regional Industry Research
11.2 V-belts Market 2019-2024 ($M) - Regional Industry Research
11.3 Timing Belts Market 2019-2024 ($M) - Regional Industry Research
11.4 Wrapped Belts Market 2019-2024 ($M) - Regional Industry Research
11.5 Specialty Belts Market 2019-2024 ($M) - Regional Industry Research
12.APAC Competition Landscape Market 2019-2024 ($M)
13.MENA Rubber Transmission Belts Market Analysis and Forecast, by Product, Market 2019-2024 ($M)
13.1 Raw Edged Belts Market 2019-2024 ($M) - Regional Industry Research
13.2 V-belts Market 2019-2024 ($M) - Regional Industry Research
13.3 Timing Belts Market 2019-2024 ($M) - Regional Industry Research
13.4 Wrapped Belts Market 2019-2024 ($M) - Regional Industry Research
13.5 Specialty Belts Market 2019-2024 ($M) - Regional Industry Research
14.MENA Competition Landscape Market 2019-2024 ($M)

LIST OF FIGURES

1.US Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
2.Canada Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
3.Mexico Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
4.Brazil Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
5.Argentina Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
6.Peru Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
7.Colombia Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
8.Chile Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
9.Rest of South America Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
10.UK Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
11.Germany Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
12.France Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
13.Italy Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
14.Spain Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
15.Rest of Europe Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
16.China Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
17.India Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
18.Japan Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
19.South Korea Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
20.South Africa Rubber Transmission Belts Market Revenue, 2019-2024 ($M)
21.North America Rubber Transmission Belts By Application
22.South America Rubber Transmission Belts By Application
23.Europe Rubber Transmission Belts By Application
24.APAC Rubber Transmission Belts By Application
25.MENA Rubber Transmission Belts By Application