QYR Market Research Global Timing Belt market research | Page 3

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• Timing belt is a synthetic rubber belt, which reinforced with fiber cords. It is
a ribbed belt placed in a specific configuration along one side of automobile
engine to keep crank and camshafts timed properly. When the engine is on, the
crankshaft converts linear energy from the pistons into rotational energy.
• Due to the wide application, timing belt market developed steadily in recent
years. The global Timing Belt market was valued at 2.65 billion USD in 2016
and is expected to reach 3.16 million USD by the end of 2022, growing at a
CAGR of 3% between 2016 and 2022. Increase in vehicle production and rising
adoption of direct injection is driving the growth of the timing belt market.