LONDON–(BUSINESS WIRE)–Technavio market research analysts forecast the global automotive belt tensioner pulleys market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.
The report further segments the global automotive belt tensioner pulleys market by application (Commercial vehicles and passenger vehicles) and by geography (the Americas, APAC, and EMEA).
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global automotive belt tensioner pulleys market:
- Increasing vehicle production to boost the market for automotive belt tensioner pulleys
- High dependence on timing belt
- Engine downsizing to increase efficiency
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Increasing vehicle production to boost the market for automotive belt tensioner pulleys
The global automotive production is expected to cross 100 million units by the end of the forecast period. The increasing demand for passenger cars, compact sport utility vehicles (SUVs), and crossovers are fueling the growth of the automotive industry. Cars have transformed from commuting purpose to a status symbol. The purchase of a car depends on the position of the driver in the society. APAC accounts for the highest demand in the automotive industry, with China being the biggest contributor. In 2016, the market in EMEA and the Americas grew by 7% and 1% respectively.
According to Ganesh Subramaniam, a lead analyst at Technavio for automotive components research, “The growth of the belt tensioner pulleys market can be directly attributed to the rising production and sales of vehicles in the automotive market. Fast paced technological developments such as connected cars, and autonomous vehicles will further drive the market.”
High dependence on timing belt
The timing belt is expected to have a small replacement cycle considering its operational conditions. The timing belt operates in an exhaustive condition due to which it is subjected to extensive wear, tear, and corrosion. A worn-out timing belt decreases its effective functioning and causes frequent slips and reduces the tension in the belt. Every time a multi-ribbed belt is replaced, the belt tensioner pulley needs to be replaced too, despite the latter being in perfect working condition. The new belt has a new belt tensioner pulley providing optimum tension for its operations.
Engine downsizing to increase efficiency
Engine manufacturers are downsizing their engines due to the increasing demand for fuel-efficient engines and the need to comply with stringent emission norms. When turbocharged engines are downsized, torque increases and fuel consumption decreases. BMW's 1.5L, three-cylinder engine, used in Mini Cooper, reduces the fuel consumption by 8% and increases the torque by 42%. To reduce pollution, engine manufacturers incorporated direct fuel injection in downsized engines. Direct fuel injection technology ensures complete combustion of the fuel which reduces emissions from the vehicle.
“Despite stringent emission norms, engine downsizing is helping OEMs to sustain in the automotive market. This is resulting in higher adoption of vehicles as they are more efficient than the previous generation. This increase in adoption will have a positive effect and will help in the growth of the automotive belt tensioner pulleys market during the forecast period,” says Ganesh.
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