Industrial Synchronous Belt Drives Market Size to Grow by $ 518.13 mn During 2021-2025
Technavio has been monitoring the industrial synchronous belt drives market and it is expected to grow by $ 518.13 mn, accelerating at a CAGR of almost 4% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Industrial Synchronous Belt Drives Market: APAC to lead market growth during the forecast period
Industrial Synchronous Belt Drives Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AB SKF, ABB Ltd., B&B Manufacturing Inc., Bando Chemical Industries Ltd., Continental AG, Gates Industrial Corp. Plc, J. H. Fenner & Co. Ltd., Mitsuboshi Belting Ltd., Optibelt GmbH, and The Timken Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Industrial Synchronous Belt Drives Market: Key Highlights of the Report for 2021-2025