Global Agricultural Machinery Drive Belt Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Agricultural Machinery Drive Belt Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Agricultural Machinery Drive Belt is a component responsible for driving various auxiliary mechanisms to run. A drive belt is installed on agricultural machinery, which can carry out various fixed operations, such as water pumping, threshing and power generation. Compared with the general industrial drive belt, the Agricultural Machinery Drive Belt is a thin belt, which is designed to withstand harsh conditions such as high impact, small pulley diameter, reverse bending and high temperature.

Market Overview:

The latest research study on the global Agricultural Machinery Drive Belt market finds that the global Agricultural Machinery Drive Belt market reached a value of USD 1125.7 million in 2022. It’s expected that the market will achieve USD 1562.77 million by 2028, exhibiting a CAGR of 5.62% during the forecast period.

Growth Drivers

At present, modern agriculture in many parts of the world is in a period of rapid development, and agricultural mechanization and automation are gradually replacing traditional farming methods. In order to improve agricultural and labor productivity, the global investment in agricultural mechanization is increasing, which helps to drive the demand for gears and drives for agricultural applications, thus driving the demand for Agricultural Machinery Drive Belt. In addition, the farming methods of many agricultural growers have changed. In the past, in many areas, only crop producers could use agricultural machinery, and individual growers generally used traditional farming methods. But in recent years, more and more family or individual growers began to use agricultural machinery for farming. This change has increased the use of agricultural machinery and the demand for the Agricultural Machinery Drive Belt.
With the continuous growth of the global population, the demand for food will continue to increase, which requires the continuous expansion of global agricultural planting. The development of agriculture requires more agricultural machinery, which will directly increase the demand for Agricultural Machinery Drive Belt. Therefore, the development of downstream industries of the Agricultural Machinery Drive Belt will promote the development of its market.

Challenges

In the manufacturing of the Agricultural Machinery Drive Belt, there is no need for high innovation requirements, and the manufacturing technology requirements are relatively low. Therefore, the industrial threshold of the Agricultural Machinery Drive Belt is low. Driven by profits, many investors enter the Agricultural Machinery Drive Belt industry, which not only intensifies the competition in this industry but also brings more and more challenges to enterprises in the Agricultural Machinery Drive Belt industry. Moreover, many investors produce

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

ContiTech is one of the major players operating in the Agricultural Machinery Drive Belt market, holding a share of 22.04% in 2022.

ContiTech is a subsidiary of Continental AG. ContiTech develops, manufactures and sells products, systems and smart components made of rubber, plastic, metal and fabric. They will be used in machine and equipment engineering, mining, agriculture, automotive industry and other important sectors.

Gates Corporation is a manufacturer of fluid power and power transmission solutions for specific applications. Gates is committed to breaking through the boundaries of materials science and designing products that continue to exceed expectations. Gates Corporation's areas of focus: automotive aftermarket belts and hoses, industrial hose systems, timing belt drives and V-belts.

Segmentation Overview:

By type, Wrapped V-Belt segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Combine Harvester segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Agricultural Machinery Drive Belt market covered in Chapter 3:

ContiTech
Gates Corporation
Colmant Cuvelier RPS
MITSUBABELTS
Ruiniu Stock Company Limited
PIX Transmissions
Arntz Optibelt Group
Hutchinson
Bando Chemical Industries
Mitsuboshi Belting
Timken

In Chapter 4 and Chapter 14.2, on the basis of types, the Agricultural Machinery Drive Belt market from 2018 to 2029 is primarily split into:

Banded V-Belt
Wrapped V-Belt
Variable Speed V-Belt

Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Agricultural Machinery Drive Belt market from 2018 to 2029 covers:

Combine Harvester
Thresher
Tractor
Lawn Mower

Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)