Drive Belts are an essential part of an automobile, as they increase engine efficiency. Besides, it tasks in driving several peripherals in a car engine including water pump, power steering pump etc. it reduces the friction in the engine, and ensure better performance. However, factor like heat accumulation or continuous frictional force these drive belts may deteriorate with time. The major market trend that’s driving the drive belt segment in recent years is the gradual shift from the conventional mechanical system to the cutting – edge electrical systems. This has now enabled diagnostic capabilities as well as automation even with remote access.
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Industry experts are of the faith that completely automated assembly lines backed by artificial intelligence would boost the manufacturing of such drive belts. The key end-user sectors, including mining, agriculture etc. has also contributed to the growth of this market. Developing nations like Asia –Pacific and LAMEA are experiencing huge demand of these belts. Besides this, customers are who are now demanding original, yet cost effective product have something to be happy about as companies in these regions have started using advance machineries. There are two type of drive belts available in the market; flat belt and v belt. Out of the two the v belt has established a strong foothold and the market is expected to grow further.
Furthermore, when it comes to periodic replacement and repair car owners today prefer v belt over the flat ones. Moreover, the v belts have a great future especially in the aged –car sector. Here, these belt drive the alternators as well as water pumps, which offer low – output. These belt are manufactured from durable rubber and are subjected to rigorous testing procedures to make sure the end –customer gets a great quality product. Eyeing the increasing market of drive belts Big Market Research has added a report titled “Global Drive Belt Industry 2015 Deep Market Research Report.”
As per the report the drive belt market would observe great sales in regions such as China, Japan, Europe and United States. The market research report also list key market players like Gates, ContiTech AG, Goodyear, Dunlop, Mitsuboshi, Zijingang Rubber Belt, Veco Transmission, Megadyne, BEHA, Optibelt, Federal Mogul, Yuelong Rubber and more. Major market drivers, restraints and opportunities of the drive belt market are also analyzed in the report to help business owners make smarter business decisions, avoid business risks and position their product successfully.