[December 06, 2016] |
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Top 5 Vendors in the Global Industrial Belt Drives Market from 2016-2020: Technavio
Technavio
has announced the top five leading vendors in their recent global
industrial belt drives market report until 2020. This
research report also lists 6 other prominent vendors that are expected
to impact the market during the forecast period.
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Technavio publishes a new market research report on the global industrial belt drives market from 2016-2020. (Graphic: Business Wire)
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The global
industrial belt drives market is mainly be driven by
the demand generated from the material
handling industry and industrial machinery industry. In
addition, the rising need for automation
in both discrete and process industries will drive revenues for
industrial belt drives segment. Synchronous type of belt drivers
will continue market dominance due to high modulus of elasticity
and energy efficiency.
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"APAC will be the fastest developing market during the forecast
period due to rising levels of industrial development and manufacturing
activities. However, EMEA will continue to be the market leader in terms
of revenue share due to the prominence of an established industrial
sector. Considering the presence of alternate technologies such as chain
drives, gear
drives, and variable frequency drives, we expect the demand
for industrial belt drives in the Americas to grow marginally during the
forecast period," says Bharath Kanniappan, one of the lead analysts
at Technavio for automation
research.
Competitive vendor landscape
The global industrial belt drives market is fragmented with the presence
of many vendors worldwide. Few vendors in APAC have started to make
their presence felt in the market by providing low-priced products to
compete with the American and European vendors. Maintaining profit
margin while delivering products at competitive prices is the major
issue faced by the established vendors in the market. Diversifying
businesses to increase product portfolio will likely ensure the survival
of vendors.
With the emergence of low-cost manufacturers in the market, established
vendors need to find ways to differentiate their products in the global
market. More low-cost belt drive manufacturers are entering the global
market, predominantly from China. Vendors are also making investments in
R&D to produce high grade and customized products to end-users.
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Top five vendors in the global industrial belt drives market:
Gates
Gates is a major vendor, which has expertise in manufacturing and
supplying power transmission belts and fluid power products. The company
provides automotive aftermarket parts that consist of hydraulics, belts,
hoses, accessories, and tools to be used for fleets, cars, recreational
vehicles, and light trucks along with the industrial belts, hydraulics,
hoses, sheaves, and sprockets and equipment. These automotive
aftermarket parts are used in areas of F&B, mining, agriculture,
processing, transportation, oil and gas, and other markets.
The company provides its products via authorized distributors and
representatives in North America and worldwide. It serves its customers
with its products and services belonging to sectors such as
infrastructure and agriculture (mobile equipment); energy or oil and gas
exploration and extraction; fleet and heavy-duty transportation;
automotive or passenger cars and light trucks; and process and specialty
manufacturing.
Optibelt
Optibelt offers drive systems mainly for the commercial vehicles as well
as buses. This company provides a range of products such as timing
belts, V-belts, polyurethane timing, and rubber timing along with
pulleys and elastomeric sheeting driving ventilators, air conditioning
systems, generators, and water pumps.
The products provided are used for applications such as agricultural
machinery, general machine construction, and general and commercial
vehicles along with office and household appliances. The company is
operating eight production facilities across six countries worldwide.
ContiTech
ContiTech manufactures and markets rubber and plastic products that are
primarily used in the automotive market worldwide. It also produces and
markets engineered rubber products. This unit offers commercial and
automotive aftermarket parts such as tensioners, belts, air springs, and
hoses and hose accessories; color and surface profiles; above and below
ground conveyor belt and splice materials; lawn mower belts, garden
hoses, and garage accessories; rubber, polyvinyl chloride (PVC), and
plastic hoses and fittings; crimpers, fittings, and additional
accessories; and high-performance all-terrain vehicle (ATV) and
snowmobile belts along with rubber tracks and rubberized track
components.
Dayco
Dayco focuses on R&D, producing, and distributing drive systems, engine
products, and services used for trucks, agriculture, automobiles,
construction sectors. This company has its industrial business unit that
targets the global industrial belt drives market. This business unit
supplies the original equipment market with its innovative drive system
solutions and engine products designed for maximizing durability and
performance.
Fenner
Fenner is a major vendor providing industrial belts and other products.
This company is known for producing silicone as well as industrial
conveyor belting products. It produces reinforced polymer technology.
The company targets the global industrial belt drives market with the
help of its business unit named Engineered Conveyor solutions. This
business unit is known for providing a comprehensive range of products
and services supporting the conveying requirements of power generation,
mining, and bulk handling.
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20161206005088/en/
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