Rubber Transmission Belt Market Size Worth USD 4.41 Billion by 2025

Hexa Research - Seite 2

Furthermore, chemical and pharmaceutical manufacturers are shifting their manufacturing facilities to India, Japan, and china on account of the presence of cost-effective and skilled labor. This is projected to propel the rubber transmission belt market demand in the APAC region.

Browse full research report with TOC on "Rubber Transmission Belt Market Size and Forecast, By Product (Steel Cord, Multiply Fabric, Solid Woven), By Application (Mining, Industrial, Construction, Harbor, Steel), and Trend Analysis, 2015 - 2025" at: https://www.hexaresearch.com/research-report/rubber-transmission-belt- ...

Asia Pacific is projected to expand at a CAGR of 3.4% from 2017 to 2025. Increasing mining activities in India, China, Japan, and Australia are expected to drive the regional market. Furthermore, high concentration of conveyor belt manufactures is expected to play crucial role in continuous product supply in the region. Moreover, presence of raw material suppliers in the region has led to increased production, thereby fueling region's growth.

Many companies in the market are focusing on increase capacity expansion to gain competitive edge. For instance, Sempertrans Poland invested Euro 46 million for capacity expansion in Belchatów, Poland due to strong demand for high-quality products.

These companies are also investing in new product development. ContiTech AG, Fenner PLC and Semperit are some of the key companies in the market. ContiTech led the India rubber transmission belt industry in 2017while Semperit held more than 18% of the Europe regional market.

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