Industrial Belt Drives Learning Market to Record 3.38% CAGR in 2021 | AB SKF – One of the leading companies offers factory belt drive mapping for industrial belt drives under the SKF brand.

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According to recent Technavio market research, the Industrial Belt Drives Market by Product, End User and Geography – Forecast and Analysis 2021-2025 is expected to grow by USD 1.19 billion from 2020 to 2025, with an accelerated CAGR of 3.89%. The report provides a detailed analysis of drivers and opportunities, top winning strategies, competitive scenario, future market trends, market size and estimates, and major investment pockets.

APAC will register the highest growth rate of 44% among other regions. China, Japan, and India are the main markets for industrial belt drives in the region. Moreover, the market growth in APAC will be faster than the market growth in other regions.

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Overview of Suppliers-

The industrial belt drives market is fragmented and vendors are deploying growth strategies such as focusing on delivering products through multiple distribution channels to compete in the market.

AB SKF- The company offers factory belt drive mapping for industrial belt drives under the SKF brand.

Dayco IP Holdings LLC – The Company offers various types of industrial belt drives such as timing belts, timing belts in oil and others.

Fenner Drives Inc. – The company offers industrial belt drives such as POWERTWIST V and Round Belts, POWERTWIST Wedge Belts, SuperTLink Wedge Belts and others.

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Regional Market Outlook

During the forecast period, the industrial belt drives market in APAC region is expected to grow at one of the fastest rates. The growing demand for industrial belt drives from developing countries such as China and India is a major driver driving the market forward. People’s consumption habits have increased as their population has grown and their per capita income has improved. Additionally, rising investment in the oil and gas, chemical and petrochemical industries in this region will propel the industrial belt driving the market forward. As a result, several industrial manufacturers of belt drives in United States and Europe have relocated their operations to low-cost countries such as India and Indonesia with a focus on improving cost savings and expanding into new markets. The trend is expected to further intensify during the forecast period due to the saturation of major economies.

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Latest drivers and trends driving the market-

• Industrial Belt Drives Market Driver:
• Growing demand for automated material handling equipment:

Thanks to lean management principles, industrial players are increasingly focusing on post-manufacturing processes and looking for cost-saving options in material handling. They also strive to improve customer happiness while accelerating the cash cycle. This has prompted the use of automated materials handling technology, which will impact many elements of materials handling, including loading. Economic growth in Asia and Latin America is expected to be fueled by rising purchasing power and increased industrial activity in sectors such as transmission manufacturing, machine tool applications and agricultural applications.

• Industrial Belt Drives Market Tendency:
• Evolution of design and analysis technologies:

3D printing is used by suppliers to create industrial belt drives. Low-cost manufacturing, faster lead times, and easy customization of finished products are all benefits of 3D printing. Many manufacturers have turned to 3D printing because the production or assembly process does not require substantial modifications for each type of belt drive system. Using precise computer control, the manufacturing process involves selective deposition of material. The resolution of the material deposition layers can be changed to change the quality of the final product. To make industrial belt drives perform better in warehouse or product loading and shipping industries, major manufacturers are adopting customized coatings that will drive the industrial belt drives market over the forecast period.

Find additional information on various other market drivers and trends mentioned in our Sample FREE Report.

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