Automotive Belt Tensioner Pulleys Market Size, Share, Growth, and Industry Growth by Type (Manual Tensioner, Automatic Tensioner, and Automotive Belt Tensioner Pulleys), Mushroom Compost, Vermicomposting, and Compost) By Application (Passenger Vehicle and Commercial Vehicle) Regional Forecast to 2028

REPORT OVERVIEW

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The global automotive belt tensioner pulleys market size is estimated to be USD 9.3427 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with automotive belt tensioner pulleys experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 11.480 billion by 2028, exhibiting a CAGR of 3.5% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

A drive belt tensioner is a pulley mounted on a spring mechanism or adjustable pivot point that is used to keep tension on the engine belts.

The key factors driving the growth of the automotive belt tensioner pulleys market are the increased need for passenger vehicles, the rise in vehicle production in developing regions, and government regulations on engine emissions to manage tear and wear on engines. There is a growing need to use belt tensioner pulleys in several fields and increased utilization of belt tensioners in multiple applications, such as commercial and passenger vehicles. Growth in automotive sectors and high demand for the product owing to reliable and effective features. These factors are anticipated to surge market growth in the forthcoming years. High technological advancement and increased R&D activities to propel market growth. On the contrary, high manufacturing cost and fluctuation of raw material prices are anticipated to limit the market growth. 

COVID-19 Impact: Closure of Automotive Sector and Ban on Travel to Hamper Market Growth

The COVID-19 pandemic affected multiple businesses and shutdown of manufacturing units. Lower demand for the belt in the automotive sector hamper the market growth. Further, disruption in supply and chain, lower production, and the ban on travel. These factors to restrict market growth during the pandemic period.

LATEST TRENDS

"Increase Number of Passenger Vehicle Globally to Fuel Market Growth"

An increased number of passenger vehicles globally, and the product is highly adopted in passenger vehicles to keep the timing mechanism of an engine running smoothly. The product offers the required energy for the vehicle by rotating a shaft when it connects other parts, such as camshafts and crankshafts. Further, it helps to keep track of the mechanism of an engine. These factors are predicted to surge market growth. There is a growing need to use belt tensioner pulleys in several fields and increased utilization of belt tensioners in multiple applications, such as commercial and passenger vehicles. Growth in automotive sectors and high demand for the product owing to reliable and effective features in the forthcoming years.

SEGMENTATION

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• By Type

Based on type, the market is divided into manual tensioner, automatic tensioner, and automotive belt tensioner pulleys.

Automotive belt tensioner pulleys are expected to be the top part of the segmentation type.

• By Application

Based on the application, the market is divided into passenger vehicle and commercial vehicle

Passenger vehicle is expected to be the top part of application segmentation.

DRIVING FACTORS

"Growth in Automotive Sector and High Investment in Automotive Industry to Foster Market Growth"

Increasing demand for the automotive sector globally and increased need for the product in the manufacturing sector is anticipated to fuel market growth. A rise in disposable income, growing economy, and rapid rate of industrialization are estimated to fuel market growth. Further, increased investment by key players in the automotive sector and high technological advancement. These factors are anticipated to fuel market growth in the forthcoming years. Growing adoption of electric vehicles and increased vehicle adoption globally are predicted to fuel market growth over the projected period.

"Increased Need for the Product in Commercial Vehicles to Fuel Market Growth"

The product is used to adjust the belt tension and reduce stress on the belt. It helps to improve engine power and durability. These advantages of the product help to boost product adoption in commercial vehicles. Further, it used to remove the slack from a vehicle’s drive belts and help to keep it tight. Rise in vehicle production in developing regions, government regulations on engine emissions to manage tear and wear on engines. Growing need to use belt tensioner pulleys in several field. Growing adoption of commercial vehicles for ease of transportation. These factors are estimated to fuel market growth in the forthcoming years.

RESTRAINING FACTORS

"High Manufacturing Costs and Fluctuation of Raw Material Prices to Obstruct Market Growth"

High manufacturing costs and fluctuation of raw material prices are anticipated to limit the market growth.

REGIONAL INSIGHTS

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"Rise in Vehicle Production in North America to Drive Market Share "

North America is anticipated to account for the highest automotive belt tensioner pulleys market share due to the increased need for passenger vehicles, the rise in vehicle production in developing regions, government regulations on engine emissions to manage tear and wear on engines. There is a growing need to use belt tensioner pulleys in several fields and increased utilization of belt tensioners in multiple applications such as commercial and passenger vehicles. Growth in automotive sectors and high demand for the product owing to reliable and effective features. These factors are anticipated to surge market growth in the forthcoming years.

Asia Pacific is anticipated to witness significant growth due to rapid industrialization and increased electric vehicles.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Dayco (U.S.)
• Dorman (U.S.)
• ACDelco (U.S.)
• CONTITECH (Germany)
• Continental (Germany)
• Gates Corporation (U.S.)
• Hutchinson (France)
• The Goodyear Tire and Rubber (U.S.)
• Litens Automotive Group (India)
• SKF (Sweden)
• Tenneco (Federal-Mogul) (India)
• Bando Chemical Industries, Ltd. (Japan)
• Belt Tensioners (Japan)
• BandB Manufacturing (U.S.)
• Phoenix (U.S.)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.