Market Research Future (MRFR) has published a cooked research report on the “Global CVT Rubber Belts Market” that contains information from 2019 to 2035.
The Global CVT Rubber Belts Market is estimated to register a CAGR of 4.7% during the forecast period of 2024 to 2035.
MRFR recognizes the following companies as the key players in the Global CVT Rubber Belts Market— include Gates Corporation, Mitsuboshi Belting Ltd, Contitech Deutschland Gmbh, Optibelt Gmbh, The Timken Company, Hanna Rubber Company, Bando Chemical Industries, Ltd, JK Fenner, Pix Transmissions Ltd, L.G. Balakrishnan & Bros. Ltd, The Goodyear Tire & Rubber Company, Dayco Corporation, Polaris Inc, Foshan Aolida Transmission Belt Co., Ltd., Evolution Powersports, And Among Others.
Market Highlights
The Global CVT Rubber Belts Market is estimated to register a CAGR of 4.7% during the forecast period and is estimated to reach USD 384.96 Billion by 2035.
The rising popularity of scooters and other two-wheelers is having a major impact on the need for automotive CVT rubber belts. With a significant uptick in scooter purchases, such as in India with a 7% jump in April 2023 and a significant 26% increase from the previous year, it shows that consumers are increasingly choosing this method of travel. Scooters are popular for their ease of use, cost-effectiveness, and ability to navigate city streets, particularly in busy or congested locations. With the increasing popularity of scooters, there is a growing need for scooters equipped with CVT systems due to their ability to provide smoother acceleration, more comfortable rides, and better fuel economy when compared to regular manual transmissions.
Moreover, scooters make up a substantial portion of the entire two-wheeler industry, accounting for roughly one-third of all sales. This significant market presence emphasizes their crucial contribution to the expansion of the entire two-wheeler sector. CVT systems are the top pick for automatic transmission in scooters because of their small size, effectiveness, and convenience, so the rise in scooter sales naturally results in a corresponding surge in the need for CVT rubber belts.
Moreover, the steady increase in scooter sales month after month, despite fluctuations, highlights the continual progress in this market. This steady increase in demand shows that the market for CVT-equipped scooters is both steady and expanding, leading to a higher need for CVT rubber belts as a key part of these transmission systems.
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Segment Analysis
The Global CVT Rubber Belts Market has been segmented based on By Rubber Type, By Application, By End-Use, By Sales Channel.
Based on rubber type, the global CVT rubber belts market has been segmented into EPDM CVT Belt, Neoprene CVT Belt, and Nitrile Butadiene Rubber (NBR) CVT Belt. The EPDM CVT Belt segment dominated the global market in 2024, while the EPDM CVT Belt is projected to be the fastest–growing segment during the forecast period. EPDM (ethylene propylene diene monomer) rubber is a widely used material in automotive CVT rubber belts due to its exceptional durability and long-lasting performance. Unlike older rubber belt materials, EPDM rubber offers superior resistance to wear and degradation, providing extended service life to vehicle belt drive systems. Its unique composition allows it to withstand harsh environmental conditions, including exposure to heat, moisture, and chemicals, without compromising its structural integrity.
The most distinguishing feature of EPDM rubber is its ability to maintain functionality even when subjected to extensive use. Unlike traditional rubber belts that may exhibit visible signs of wear or produce loud belt noises as they deteriorate, EPDM rubber belts often remain silent and visually intact, masking their degradation. This characteristic makes it challenging for vehicle owners to identify when a belt replacement is necessary solely based on visual inspection or noise cues.
Based on Application, the global CVT rubber belts market has been segmented into ATV, Scooter, Snowmobile, Minicar, SXS/UTV, Go Cart, and Others. The Scooter segment dominated the global market in 2024, while the ATV is projected to be the fastest–growing segment during the forecast period. The growing popularity of scooters is significantly impacting the automotive CVT rubber belt market. With a notable increase in scooter sales, particularly evident in markets like India with a 7% surge in April 2023 and a substantial 26% rise from the previous year, it is clear that consumers are increasingly opting for this mode of transportation. Scooters are favored for their convenience, affordability, and maneuverability, especially in urban areas with heavy traffic. As scooter sales continue to climb, there is a corresponding rise in the demand for scooters equipped with CVT systems.
CVT systems offer smoother acceleration, enhanced ride comfort, and improved fuel efficiency compared to traditional manual transmissions, making them the preferred choice for automatic transmission in scooters. Since scooters constitute a significant portion of the overall two-wheeler industry, accounting for about one-third of total sales, their increasing popularity significantly contributes to the expansion of the entire sector.
Based on End-Use, the global CVT rubber belts market has been segmented into Low-Speed Engine, Medium Speed Engine, and High-Speed Engine. The Low-Speed Engine segment dominated the global market in 2024, while the Medium Speed Engine is projected to be the fastest–growing segment during the forecast period. Medium-speed engines are typically found in a wide range of vehicles, including mid-size sedans, SUVs, and trucks. These engines operate at moderate RPMs, striking a balance between power and fuel efficiency. They are versatile and well-suited for various driving conditions, offering adequate performance for both urban commuting and highway cruising.
The growing adoption of medium-speed engines has surged the demand for automotive continuously variable transmission (CVT) rubber belts. CVT systems offer seamless gear shifts and efficient power delivery, optimizing engine performance across different driving situations. Unlike traditional automatic transmissions with fixed gear ratios, CVTs continuously adjust to the engine's speed, maximizing fuel efficiency and driving comfort.
Based on Sales Channel, the global CVT rubber belts market has been segmented into OEM, and Aftermarket. The OEM segment dominated the global market in 2024, while the OEM is projected to be the fastest–growing segment during the forecast period. Original Equipment Manufacturers (OEMs) play a pivotal role in the automotive CVT rubber belt market. Their involvement is crucial at several stages, from design and development to production and supply chain management. OEMs work closely with CVT systems and rubber belt manufacturers to develop designs that meet specific performance, durability, and efficiency standards. This collaboration ensures that the belts are optimized for the particular requirements of different vehicle models and engine types, including low, medium, and high-speed engines.
OEMs implement stringent quality control measures and extensive testing protocols to ensure that CVT rubber belts meet high standards of reliability and safety. This includes stress testing, durability assessments, and performance evaluations under various operating conditions. OEMs manage the supply chain logistics, ensuring a steady and reliable supply of CVT rubber belts. They coordinate with suppliers to maintain inventory levels that meet production schedules and market demand, reducing the risk of production delays. OEMs drive innovation by investing in research and development. They collaborate with material scientists and engineers to develop advanced rubber compounds and manufacturing techniques, enhancing the performance and lifespan of CVT belts.
Regional Analysis
Based on Region, the global CVT Rubber Belts is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific dominated the global market in 2024, while the Europe is projected to be the fastest–growing Region during the forecast period.
The growing automotive industry across the Asia-Pacific region is driving significant growth in the automotive CVT rubber belt market. For instance, China is poised to lead the minicar market, with projected revenues reaching US$ 6,963 million in 2024. As a major player in the global automotive market, China's strong performance in the minicar segment underscores the vast growth potential for CVT rubber belts. Minicars, favored for their compact size and fuel efficiency, often utilize CVT systems to enhance performance through smooth and efficient power transmission. As the demand for minicars increases, so does the need for reliable CVT rubber belts, which are critical components of these transmission systems. Further, Japanese auto manufacturers also refer to CVT belts due to their performance.
Additionally, the surge in scooter popularity is substantially impacting the CVT rubber belt market. In markets like India, scooter sales experienced a notable 7% increase in April 2023 and a significant 26% rise from the previous year. Scooters are highly favored for their convenience, affordability, and ability to navigate heavy urban traffic. As more consumers opt for scooters the demand for CVT systems and their rubber belts rises correspondingly.
The growing tourism in snowy regions across Europe is significantly boosting the demand for automotive CVT rubber belts, due to the rising popularity of snowmobiles. Europe, alongside Russia, has witnessed a 10% increase in snowmobile sales from the previous year, according to the International Snowmobile Manufacturers Association (ISMA). This surge is indicative of a broader trend in the region, where snowmobiling is not only a popular recreational activity but also a significant part of winter tourism.
Snowmobiles are integral to the winter tourism experience, offering thrilling rides across snow-covered landscapes. As tourism in snowy areas expands, so does the demand for snowmobiles, thereby directly influencing the need for reliable and efficient transmission systems. CVT systems, which are pivotal in ensuring smooth and seamless power transmission in snowmobiles, rely heavily on rubber belts. These belts must be robust and dependable to withstand the harsh conditions and extensive use characteristic of snowmobile operation.
Key Findings of the Study
- The Global CVT Rubber Belts Market is expected to reach USD 384.96 Billion by 2035, at a CAGR of 4.7% during the forecast period.
- The Asia Pacific region accounted for the fastest growth in the global market.
- Based on Application, the Scooter segment was attributed to holding the largest market in 2024.
- Gates Corporation, Mitsuboshi Belting Ltd, Contitech Deutschland Gmbh, Optibelt Gmbh, The Timken Company, Hanna Rubber Company, Bando Chemical Industries, Ltd, JK Fenner, Pix Transmissions Ltd, L.G. Balakrishnan & Bros. Ltd, The Goodyear Tire & Rubber Company, Dayco Corporation, Polaris Inc, Foshan Aolida Transmission Belt Co., Ltd., Evolution Powersports, And Among Other are the key market players.
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Base Year | 2023 |
Companies Covered | 15 |
Pages | 177 |
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