Global Automotive Belt Tensioner Pulley Market Future Forecast Indicates Impressive Growth Rate / Major Bando Chemical Industries, Hutchinson S.A., SKF GmbH, Gambo Industry Co. Ltd
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Automotive Belt Tensioner Pulley Market - Market Dynamics
Increasing vehicle production and sales is projected to boost the demand of automotive belt tensioner pulley over the forecast period.
Increasing production of automobiles directly influences the sales of automotive belt tensioner pulley. The global automotive industry is observed to witness a steady growth over the few years. Considering the expanding middle class population in emerging economies, automotive production is expected to witness further growth. This is also attributed to increasing urbanization due to stable economic condition. Thus, potential opportunities lie ahead for automotive belt tensioner pulley manufacturers.
Increasing trend of carpooling and e-hailing is anticipated to effect the overall growth rate of global car sells and the automotive belt tensioner pulley market.
It is anticipated that adoption of mobility solutions, such as carpooling and e-sharing will continue to witness a surge, which will influence the car sales and automotive belt tensioner pulley market. Increasing adoption of mobility services will impact the new car sales in the personal vehicle segment, while the decline is anticipated to be compensated by increase in commercial car segment. This could directly affects the growth potential of automotive belt tensioner pulley market.
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Automotive Belt Tensioner Pulley Market - Regional Analysis
The global Automotive Belt Tensioner Pulley market can be segmented into seven regions: North America, Latin America, Europe, CIS & Russia, Japan, APEJ (Asia Pacific except Japan) and the Middle East and Africa. Growth prospects of Automotive Belt Tensioner Pulley Market are almost stagnant in North America. On the other hand, the future of Automotive Belt Tensioner Pulley Market in the emerging geographies like China, India, Mexico and ASEAN are prominent because of high growth of the high demand of passenger cars and SUV’s, which, in turn, will increase the demand for automotive belt tensioner pulleys in the future. Europe is anticipated to be the largest automotive belt tensioner pulley market followed by APEJ over the forecast period. Latin America automotive belt tensioner pulley market is projected to grow at a slow pace as compared to other regions across the globe. Japan automotive belt tensioner pulley market is also anticipated to grow with significant CAGR over the forecast period owing to the technological advancement in the country.
Automotive Belt Tensioner Pulley Market - Key Segments
The global automotive belt tensioner pulley market can be segmented on the basis of product type, vehicle type and sales channel. On the basis of product type, the automotive belt tensioner pulley market can further be segmented as automatic belt tensioner and idler pulley. The automatic belt tensioner segment is anticipated to grow with significant CAGR as over the forecast period in global automotive belt tensioner pulley market. On the basis of vehicle type, the automotive belt tensioner pulley market can further be segmented as passenger cars, light commercial vehicle and heavy commercial vehicle in which passenger cars segment includes compact cars, midsize cars, luxury cars, SUVs. The midsize car segment is expected to hold a substantial market share in automotive belt tensioner pulley market. The sales channel for automotive belt tensioner pulley market can be segmented as original equipment manufacturer (OEM) and aftermarket sales channel. The OEM segment is expected to account for the largest market share in global automotive belt tensioner pulley market over the forecast period.
Automotive Belt Tensioner Pulley Market - Key Manufacturers
The automotive belt tensioner pulley market includes both global and domestic players. The global players account for larger market share in automotive belt tensioner pulley market. Some of the leading players in automotive belt tensioner pulley market are Dayco Products, LLC, Gates Industrial Corporation plc, Continental. The other prominent players of automotive belt tensioner pulley market are Bando Chemical Industries, Hutchinson S.A., SKF GmbH, Gambo Industry Co. Ltd an
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