QYR Market Research Global Timing Belt market research | Page 4

QYR
• At present, there are a mass of manufacturers in the market. Leading five
companies in the market are Gates, Continental, BANDO, DAYCO and Tsubakimoto,
together occupying about 40% market share in 2016. Other major manufacturers
in the market are Forbo, Hutchinson, OPTIBELT, Bosch, Mitsuboshi, Timken,
Schaeffler, Habasit, ACDelco, SKF, Megadyne, Federal-Mogul, Wuxi Belt, DRB,
Ningbo Jiebao, Shanghai Wutong, Ningbo Fulong and Zhejiang Kaiou etc.
• As downstream demand grows and technical barriers become less, there will be a
huge market space for timing belt. To grab more market, the little companies have
to expand the technology, capital investment and brand influence. To meet the
challenge of new entrants and keep their leading stage, leading companies need to
increase the technology innovation and speed up the product upgrading. In the
future, timing belt market will still be a market of fierce competition.