LONDON--(BUSINESS WIRE)--The new industrial belt tensioners market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the increasing investments in industrial assets,” says a senior analyst for the industrials industry at Technavio. "The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the industrial belt tensioners market size to grow by USD 84.01 million during the period 2021-2025."
Industrial Belt Tensioners Market Segment Highlights for 2020
- The industrial belt tensioners market is expected to post a year-over-year growth rate of 1.87%.
- Based on the type, the automatic segment saw maximum growth in 2020. The rise in the adoption of automatic belt tensioners in the material handling, industrial machinery, mining and minerals, and food and beverages industries will contribute to the growth of this industry segment.
- The growth of the market segment will be significant during the forecast period.
Regional Analysis
- 54% of the growth will originate from the APAC region.
- The increasing investment in capacity additions is one of the prime factors that will facilitate the industrial belt tensioners market growth in APAC over the forecast period.
- China and Japan are the key markets for industrial belt tensioners in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Notes:
- The industrial belt tensioners market size is expected to accelerate at a CAGR of over 3% during the forecast period.
- The industrial belt tensioners market is segmented by type (Automatic and Non-automatic) and geography (APAC, Europe, North America, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including AB SKF, Bando Chemical Industries Ltd., Brewer Machine & Gear Co., Continental AG, Dayco IP Holdings LLC, Fenner Drives Inc., Gates Industrial Corp. Plc, Hutchinson SA, Litens Automotive Group, and The Timken Co.
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