Automotive Tensioner Market will surpass USD 2.95 billion by 2030 at a CAGR of 5% till 2030 : GreyViews

Automotive Tensioner Market Size By Product Type (Idler Pulley and Automatic Belt Tensioner), By Vehicle Type (Commercial Vehicle, and Passenger Vehicle), Regions, Segmentation, and forecast till 2030.

Pune India, Jan. 09, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the automotive tensioner market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the automotive tensioner market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, vehicle type and region. The key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the paragraphs below. 

The significant players operating in the global automotive tensioner market are Gambo Industry Co. Ltd., Mubea Aftermarket Services GmbH, Zhejiang Renchi Auto Parts Co., Ltd., Capitol Stampings Corp., ABA Automotive, Alt America Inc., GMB Corporation,  Continental AG, C R Products Ltd.,  Gaoyao Jinxing Road Hongtong Hardware Factory, Taizhou GEDLBT Machinery Manufacturing Co. Ltd., Guangzhou Kafu Engeering Machinery Parts Co. Ltd, Dayco Products, NTN Corporation, The Gates Corporation among other. To achieve a substantial market share in the worldwide automotive tensioner market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

A device known as an automobile tensioner applies pressure to the chain or belt used in the car’s drive in order to tighten it. The timing chain or belt is always kept at the proper tension by this device, which also transfers the crankshaft’s rotation to the camshaft and accessory drive belts. To lessen timing belt noise and strengthen engines, it is frequently utilized in car engines.

The rising production of automobiles in both emerging and developed economies is one of the significant factors recognized for the expansion of the automotive tensioner industry internationally. For instance, according to estimates from the International Organization of Motor Vehicle Production, 97 million cars were produced globally in 2017 compared to 95 million in 2016. The market for automotive tensioners is expected to rise dramatically as consumers’ preference for lightweight automobiles grows. Worldwide improvements in vehicle fuel economy are projected to come from lighter automobiles. The demand for automobile tensioners will undoubtedly rise as fuel-saving technology and environmental consciousness rise, particularly in light of challenges like global warming. The rising need for lighter and more compact automobile tensioners is, thus, one of the significant factors projected to propel the growth of the global automotive tensioner market during the forecast period.

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Scope of Automotive Tensioner Market Report

Report Metric Information
Study Period 2022-2030
Base Year           2022
Forecast Period 2023-2030
Market Share Unit USD Billion
Segments Covered Product Type, Vehicle Type and Regions
Regions Covered North America, Europe, Asia-Pacific, South America, and Middle-East and Africa
Major Players Gambo Industry Co. Ltd., Mubea Aftermarket Services GmbH, Zhejiang Renchi Auto Parts Co., Ltd., Capitol Stampings Corp., ABA Automotive, Alt America Inc., GMB Corporation,  Continental AG, C R Products Ltd.,  Gaoyao Jinxing Road Hongtong Hardware Factory, Taizhou GEDLBT Machinery Manufacturing Co. Ltd., Guangzhou Kafu Engeering Machinery Parts Co. Ltd, Dayco Products, NTN Corporation, The Gates Corporation among other among other.

Segmentation Analysis

The automatic belt tensioner segment is expected to be the fastest-growing segment in 2022. 

The product type segment is idler pulley and automatic belt tensioner.  The automatic belt tensioner segment is expected to witness the highest growth rate during the forecast period. Belt-driven systems are increasingly chosen over alternative technologies, especially in diesel vehicles. The automatic belt tensioner market is therefore expected to grow around the globe over the forecast period. Government assistance for electric vehicles is receiving increasing attention, which is likely to limit the segment’s growth.

The passenger vehicle segment is expected to be the fastest-growing segment in 2022. 

The vehicle type segment is commercial vehicle and passenger vehicle.  The passenger vehicle segment is expected to witness the highest growth rate during the forecast period. Because fewer passenger vehicle than commercial vehicle is made. In 2020, the US auto sector produced over 1.9 million passenger automobiles, a decrease of more than 23% from 2019. Worldwide, 55.8 million passenger automobiles will be produced in 2020. China held the title of the world’s largest regional auto market in 2020 with sales of around 20 million vehicles.

Regional Analysis

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the automotive tensioner   include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

  • The Asia Pacific region witnessed a major share.  Chinese tensioners are now available anywhere in the world thanks to Alibaba, a well-known leader in the e-commerce sector. The majority of enterprises have been able to reach the Chinese and Asian markets thanks to the use of e-commerce. Businesses from the Americas and EMEA may also choose to simply promote the large array of things they have to offer to increase sales. The rise of e-commerce is projected to boost product sales and give OEMs in Asia a competitive advantage because they have fewer suppliers and merchants.

Country Analysis

  • Germany

Germany’s automotive tensioner market size was valued at USD 0.168 billion in 2022 and is expected to reach USD 0.211 billion by 2030, at a CAGR of 2.9% from 2023 to 2030. Due to the region’s considerable automotive industry presence and the passage of rigorous restrictions on vehicle emission standards.

  • China

China’s automotive tensioner market size was valued at USD 0.304 billion in 2022 and is expected to reach USD 0.416 billion by 2030, at a CAGR of 4.0% from 2022 to 2030. Because regional auto sales and production are increasing. Emission standards are governed by tight laws and regulations, particularly in China.

  • India

India’s automotive tensioner market size was valued at USD 0.258 billion in 2022 and is expected to reach USD 0.337 billion by 2030, at a CAGR of 3.4% from 2022 to 2030. The surge in automotive manufacture in emerging countries like India is the cause of this.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of the automotive tensioner market is mainly driven owing to the rising demand for the passenger vehicle.

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