Global Timing Gear Market – Industry Trends and Forecast to 2029

Timing Gear Market Analysis and Size

Additional potential gains have recently been evaluated in the global automotive market, owing to an increase in demand for high performance, fuel efficient, low emission, and technologically advanced modern vehicles. The growth of the automotive component market is proportional to global automotive production trends.

Data Bridge Market Research analyses that the timing gear market was valued at USD 6.22 billion in 2021 and is expected to reach the value of USD 9.19 billion by 2029, at a CAGR of 5.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Timing Gear Market Scope and Segmentation

Market Definition

The timing gear is chained or belted to the crankshaft at one end and the camshaft at the other. An engine's proper operation necessitates the timing gear operation, as even a few degrees of lag can affect engine performance. As a result, an engine must be properly timed. Timing gear is highly customizable in terms of design and dimensions based on engine requirements for various applications.

Global Timing Gear Market Dynamics

Drivers

• Rapid product developments

The automobile timing chain reduces friction by 25% when compared to belt technology. Furthermore, the timing chain may outlast the vehicle's entire life cycle and is more reliable than traditional belt technology in internal combustion engines. The demand for timing chains is being driven by the desire for improved engine performance and fuel economy. The timing chain is an essential component contributing to increased vehicle performance and speed. As a result, automakers prefer timing chains to belt technology. The development of lightweight, low-cost, and long-life timing gear is propelling the global timing gear market forward.

• Rising inactivates by governing authorities

Government initiatives and new standards all over the world are encouraging automakers to improve fuel economy by lightening vehicles and parts. For instance, in Europe and Asia-Pacific, corporate average fuel economy (CAFÉ) standards are paving the way for vehicles with higher fuel economy. Reducing the weight of automobile engines in order to improve fuel economy is a critical factor in promoting the growth of the automobile timing gear market.

Opportunity

The rising population and rising income levels will create more opportunities, fuelling the growth of the timing gear market during the forecast period.

Restraints

The rising cost of replacement, combined with the development of new and advanced technology such as camless engines, will likely impede the growth of the timing gear market during the forecasted period.

This timing gear market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the timing gear market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Timing Gear Market

The restrictions are severely impacting the vendors in the automotive timing gear industry around the world on producers as well as the declared lockdowns, affecting seat belt system manufacturers worldwide. Because governments all over the world have declared lockdowns in recent months, many timing gear manufacturers' demand and supply cycles are vulnerable. The pandemic has had a negative impact on the timing gear market size for the year 2020; a significant deviation in the growth of automotive timing gear manufacturers has been observed as a result of coronavirus.

Global Timing Gear Market Scope

The timing gear market is segmented on the basis of product type, engine type, vehicle type, and sales channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Engine type

• Inline Engines
• V–Engines

Product type

• Camshaft Timing Gear
• Crankshaft Timing Gear

Vehicle type

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Off-Road Vehicles

Sales channel

• OEM (Original Equipment Manufacturers)
• Aftermarket

Timing Gear Market Regional Analysis/Insights

The timing gear market is analysed and market size insights and trends are provided by country of product type, engine type, vehicle type, and sales channel as referenced above.

The countries covered in the timing gear market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to be the next major market for automotive components such as timing gears. The automotive industry is the largest manufacturing sector in major countries in the region, such as the United States.

Asia-Pacific is another expanding market for timing gears; a recent trend in the market is the shift of large players to emerging economies for manufacturing, such as China, India, and Korea, among others.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Timing Gear Market Share Analysis

The timing gear market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to timing gear market.

Some of the major players operating in the timing gear market are:

• GKN PLC (U.K.)
• ACPT Inc. (U.S.)
• American Axle & Manufacturing Inc. (U.S.)
• Yamada Manufacturing Co. Ltd. (Japan)
• Trelleborg AB (publ) (Sweden)
• NTN Corporation (Japan)
• The Timken Company (U.S.)
• Bailey Morris Limited (U.K.)
• Fortune-Cross (Thailand) Co., Ltd. (Thailand)
• HYUNDAI WIA CORP. (South Korea)
• JTEKT Corporation (Japan)
• Meritor, Inc. (U.S.)
• Mohit Engineers Pvt. Ltd (India)
• Nexteer Automotive Corporation (U.S.)
• shanghai gkn huayu driveline systems co. ltd (China)
• SHOWA CORPORATION (Japan)
• Wanxiang America Corporation (China)
• Xuchang Yuangdong Driveshaft Co., Ltd (China)

SKU-56694