In a recent published report, Kenneth Research has updated the market report for Rubber Transmission Belt Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Rubber Transmission Belt Market products.
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REPORT HIGHLIGHT
The Rubber Transmission Belt market is estimated to represent a global market of USD 3.44 billion by 2017 with growth rate of 2.8%.
Market Dynamics
The global rubber transmission belt industry is majorly driven by the introduction of advanced technology based products. For instance, in 2016, Yokohama Rubber Company Limited introduced fabric belt with new technology in order to improve heat resistance with mechanical joints. This proposed report presents the global market size (revenue) of key companies in Rubber Transmission Belt business.
This report also presents a comprehensive industry overview, market shares, and growth opportunities of Rubber Transmission Belt market by type, application, key regions and countries and key manufacturers. Additionally, this report discusses risks faced by key manufacturers and the market as a whole. It also analyses key emerging trends and their impact on present and future industry development.
Regional Takeaway
Market Segment by Regions, regional analysis covers
North America (U.S. and Canada)
Europe (France and Germany)
Asia Pacific (India and China)
Middle East and Africa
Latin America
Asia Pacific region accounted for the highest revenue share. Presence of well-established steel manufacturers, expansion of industrial facilities coupled with growing food & beverage industry is expected to fuel the demand for rubber transmission belts over the study period. Key manufacturers operating in this region are Zhejiang Double Arrow, Yokohama, Baoding Huayue, Bando, Shandong Phoebus, Zhejiang Sanwei, Fuxin Shuangxiang, and Hebei Yichuan.
Key Vendor Takeaway
The research report presents the market competition landscape and a corresponding detailed analysis of the major vendors/manufacturers in the market. Market Segment by Manufacturers, this report covers
Fenner PLC
Continental AG
Bridgestone Corporation
Zhejiang Double Arrow
The Yokohama Rubber
Baoding Huayue Conveyor
Sempertrans
Zhejiang Sanwei Rubber Item
Bando Chemical Industries
The global rubber transmission belt industry is consolidated in nature. ContiTech AG (business segment of Continental AG) emerged as the key player of this market, accounted for over 30% revenue share. This company majorly focuses on industrial and mining sectors with focus on geographies such as Australia, India and Africa. ContiTech showcases an array of products such as multiply fabric, solid woven and steel cord rubber conveyor belts. In addition, the company is increasing spending towards product customization in order to gain competitive edge.
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The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
TARGET AUDIENCE
Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPE
Steel Cord Rubber Conveyor Belt
Solid Woven Rubber Conveyor Belt
Multiply Fabric Conveyer Belts
MARKET, BY APPLICATION
Industrial
Mining
Construction
Harbor
Steel
MARKET, BY REGION
North America
U.S.
Canada
Europe
Germany
France
Rest of Europe
Asia Pacific
India
China
Rest of APAC
Rest of the World
Middle East and Africa
Latin America
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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