LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global industrial synchronous belt drives market size and it is poised to grow by USD 488.87 million during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
Based on segmentation by end-user, which is the leading segment in the market?
Material segment is the leading end-user of the industrial synchronous belt drives.
What are the major trends in the market?
Rise in M&A and strategic alliances is one of the key trends driving the market growth.
At what rate is the market projected to grow?
The market is expected to grow at a CAGR of almost 4% during the forecast period
Who are the top players in the market?
AB SKF, ABB Ltd., Arntz Optibelt Group, B&B Manufacturing Inc., Bando Chemical Industries Ltd., Continental AG, Gates Industrial Corp. Plc, J. H. Fenner & Co. Ltd., Mitsuboshi Belting Ltd., and The Timken Co. are some of the major market participants.
What are the key market drivers?
Growing demand for automated material handling equipment is one of the key factors driving the market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AB SKF, ABB Ltd., Arntz Optibelt Group, B&B Manufacturing Inc., Bando Chemical Industries Ltd., Continental AG, Gates Industrial Corp. Plc, J. H. Fenner & Co. Ltd., Mitsuboshi Belting Ltd., and The Timken Co. are some of the major market participants. The growing demand for automated material handling equipment will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Industrial Synchronous Belt Drives Market 2020-2024: Segmentation
Industrial Synchronous Belt Drives Market is segmented as below:
- Material Handling
- Industrial Machinery
- Mining And Mineral
- North America
- South Africa
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Industrial Synchronous Belt Drives Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The industrial synchronous belt drives market report covers the following areas:
- Industrial Synchronous Belt Drives Market Size
- Industrial Synchronous Belt Drives Market Trends
- Industrial Synchronous Belt Drives Market Industry Analysis
This study identifies the rise in M&A and strategic alliances as one of the prime reasons driving the industrial synchronous belt drives market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Industrial Synchronous Belt Drives Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist industrial synchronous belt drives the market growth during the next five years
- Estimation of the industrial synchronous belt drives market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial synchronous belt drives market
- 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
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by end-user
- Material handling - Market size and forecast 2019-2024
- Industrial machinery - Market size and forecast 2019-2024
- Agriculture - Market size and forecast 2019-2024
- Mining and mineral - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by end-user
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- AB SKF
- ABB Ltd.
- Arntz Optibelt Group
- B&B Manufacturing Inc.
- Bando Chemical Industries Ltd.
- Continental AG
- Gates Industrial Corp. Plc
- J. H. Fenner & Co. Ltd.
- Mitsuboshi Belting Ltd.
- The Timken Co.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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