Automotive Drive Belts Market Dynamics and Trends, Efficiencies Forecast 2027

• Automotive drive belts are required to transmit power from the vehicle engine to other systems including air compressor, air conditioner, and cooling pump. Drive belts are durable and designed to withstand high tension and temperature.
• Automotive drive belts are made from synthetic rubber products, such as chloroprene, neoprene, and ethylene propylene diene monomer rubber (EPDM rubber), and other chemical substances in order to enhance strength and maintain a rigid shape
• Drive belts provide a good combination of flexibility, as compared to that offered by other means of power transmissions. Moreover, drive belts are cost-effective, require minimal space, and are easy to install and maintain. Therefore, most automakers incorporate drive belts for power transmission in their vehicles.

Key drivers of global automotive drive belts market

• Stringent regulations and vehicle standards enacted by government organizations, which mandate automakers to boost fuel economy, are likely to compel automakers install drive belts in their vehicles, thereby driving the global automotive drive belt market. For instance, timing belts can be utilized in vehicle applications where indexing, positioning, or a constant speed ratio needs to be maintained. Timing belts, also known as synchronous belts, have a toothed profile that engages with the corresponding pulley mechanism, similar to the gear or chain drive. Therefore, frictional losses are less and chances of disengagement of the belt and pulley is also low, which in turn reduces fuel consumption. Consequently, drive belts increase fuel economy of a vehicle.

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Rise in awareness about climate change and increase in air pollution is driving government organizations to impose stringent regulations to reduce vehicle emission. Vehicle AC or a cooling fan derives its power from the vehicle engine. Therefore, the fuel consumption is directly proportional to use of vehicle AC. This, in turn, boots the demand for drive belts that offer good friction between the vehicle engine and AC compressor, which reduces fuel consumption and vehicle emissions, thereby propelling the global automotive drive belt market.

• Demand for lower vehicle maintenance costs is driving the global automotive drive belts market. Automotive drive belts are employed in vehicles to drive the cooling fan, air conditioning compressor, power steering pump, and air injection pump. Drive belts offer clean operation, since the need for lubrication is eliminated. Furthermore, quiet operations, visual warning of failure, shock absorbing qualities, and an efficiency of around 95% are a few advantages offered by drive belts. All the aforementioned factors reduce the maintenance costs of the vehicle and thereby, drive the global automotive drive market.

Asia Pacific to hold a significant share of global automotive drive belts market

• Asia Pacific is a prominent three-wheeler market globally. India is a notable market for three-wheelers, in terms of sales and production, across the globe. Furthermore, three-wheelers manufactured in India are exported globally. Presence of key three-wheeler automakers including Bajaj Auto, Mahinda and Mahindra, Piaggio Vehicles, and Atul Auto in India indicates a lucrative market for automotive drive belts, as three-wheelers use drive belts to transmit engine generated power to their wheels.

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• According to OICA, Asia Pacific accounted for 47,410,253, i.e. 49.87%, of global passenger and commercial vehicles sold in 2018. Both passenger and commercial vehicles incorporate drive belts to drive air compressor, vehicle cooling systems, vacuum pump for air brakes in vehicles. All the aforementioned factors propel the automotive drive belts market in Asia Pacific.