Industrial Synchronous Belt Drives Market Size to Grow by $ 518.13 mn During 2021-2025

Technavio has been monitoring the industrial synchronous belt drives market and it is expected to grow by $ 518.13 mn, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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Industrial Synchronous Belt Drives Market: APAC to lead market growth during the forecast period

• 45% of the market growth will originate from APAC during the forecast period.
• Growing improvement in industrial synchronous belt drives will be a key trend that will influence market growth significantly.
• The Large volume demand from aftermarket will be a significant factor in driving the growth of the industrial synchronous belt drives market.

Industrial Synchronous Belt Drives Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AB SKF, ABB Ltd., B&B Manufacturing Inc., Bando Chemical Industries Ltd., Continental AG, Gates Industrial Corp. Plc, J. H. Fenner & Co. Ltd., Mitsuboshi Belting Ltd., Optibelt GmbH, and The Timken Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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Industrial Synchronous Belt Drives Market: Key Highlights of the Report for 2021-2025

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive industrial synchronous belt drives market growth during the next five years
• Precise estimation of the industrial synchronous belt drives market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industrial synchronous belt drives market industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of industrial synchronous belt drives market vendors