Industrial Belt Drives Market Analysis

Product (Industrial V-belt Drives, Industrial Synchronous Belt Drives, Industrial Pulleys)

The global industrial belt drives market is segmented and analyzed for demand and supply by-products into industrial V-belt drives, industrial synchronous belt drives, industrial pulleys, and others. Out of the four products industrial belt drives, the industrial synchronous belt drives segment is estimated to gain the largest market share in the year 2037. The growth of the segment can be attributed to the increasing automotive sector across the globe. The automobile industry is continuously changing owing to technological developments such as the creation of hybrid and electric vehicles (EVs). For instance, for applications including electric powertrains, battery cooling systems, and other auxiliary systems, these improvements frequently necessitate specialized synchronous belt drive systems. Thus, the demand for synchronous belt drives made for these applications is anticipated to develop along with the popularity of hybrid and electric automobiles. As of 2019, global EV sales climbed by over 38%, while EV export commerce has increased by more than 17%.

End-user (Industrial, Mining, Agricultural, Commercial)

The market is also segmented and analyzed for demand and supply by end-user into industrial, mining, agricultural, commercial, and others. Amongst these five segments, the agricultural segment is expected to garner a significant share in the year 2037. Belt drives can be employed in a variety of agricultural applications. For instance, they are incorporated into machinery and equipment that is utilized for activities including irrigation, tilling, spraying, and harvesting. Moreover, they are utilized in grain, feed, and other agricultural commodity-handling conveyor systems. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.

Our in-depth analysis of the global market includes the following segments: