Automotive Timing Belt Market: Opportunity Analysis and Industry Forecast upto 2025
The timing belt or timing chain or cam belt is a belt with teeth on the inside surface. It is a component of a vehicle’s internal combustion engine and is invisible from outside. In internal combustion engines, timing belts control the opening and closing of engine’s valves and synchronizes the rotation of a crankshaft or cam shafts. If the timing belt is not replaced at proper intervals it will cause vehicle’s engine to damage. The market is segmented into original equipment (OE) type and aftermarket type. By vehicle type the market is classified into passenger vehicles, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). The share of passenger vehicles is more the share of commercial vehicles. By geography the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is a major automotive timing belt market. The U.S. is the dominant market in the region as is the second largest automotive and passenger vehicle market in the world. Canada and Mexico are other major markets in North America. Europe is another major automotive timing belt market. In North America in the automotive timing belt market the market share of commercial vehicles is more than passenger vehicles. Obtain Report Details @ http://www.transparencymarketresearch.com/automotive-timing-belt-market.html Germany is the largest market in this region as it is the largest automotive market in Europe and its passenger vehicle market is fourth largest in the world. The U.K, France, Italy, Spain, Belgium, Sweden and Netherlands are other major markets in Europe. Asia Pacific is one of the largest automotive timing belt market. China is the largest market in this region as it is the largest automotive and passenger vehicle market in the world. Japan and India and significant markets in this region as they are third and fifth largest passenger vehicle markets in the world respectively.