Industrial belt tensioners are used in belt drives that ride on the inner/outer surface of industrial belts (V-belts/variable belts/synchronous timing belts) to apply and maintain constant pressure, tension on the belt and against the pulley that drives the engine. The major application of industrial belt tensioners is to avert vibration of industrial belts during belt drive operations. The application of belt tensioners in belt drives is essential to increase their performance and efficiency by reducing the vibration during machinery operations.
One of the major drivers for this market is increasing investments in industrial assets. The rising adoption of industrial assets, such as advanced machinery, with low downtime to improve productivity, has prompted companies to increase their investments in machines and equipment. Also, steps are being taken to increase the efficiency and the life of the industrial belt tensioners. These measures are being taken for the fulfillment of customers demand and make the market grow.
The major challenge for the Industrial belt tensioner market is competitive pricing strategy of low cost manufacturers. The manufacturers of this market make the pricing high when they suffer loss or are not able to buy the profit which in turn is to be beared by the customers. This challenge is mainly seen in the market of Asian manufacturers who are not so liable about their customers and their need and finally make those suffer the pricing strategy.
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The major trend prevailing in the Industrial belt tensioner market is the development of customized belt tensioners. The demand by the customers to modify the belt tensioners forces the manufacturers to customize the market. Hence the development of the market in the various regions helps the market to grow. The market seems to be growing vast in the regions where the economy is better and developed. This helps the market to demolish the challenge of pricing strategy. The growing market has made the advent of integrated belt tensioners. The integrated belt tensioners are more advantageous and promisingly fulfilling the needs of the customers. Also a new advent has been observed in the belt tensioning system, this has been done to ease the use of the belt tensioners and to make the market growing and developed.
Industrial belt Tensioner Market can be segmented into various types as:-
- Market segmentation by type
- Market segmentation by end user
- Geographical segmentation
Market segmentation by type
- Automatic belt tensioners
- Non automatic belt tensioners
Market segmentation by end user
- Material handling industry
- Industrial machinery industry
- Agricultural industry
- Mining and minerals industry
- North America
- Latin America
- Eastern Europe
- Western Europe
- APEJ (Asia Pacific excluding Japan)
- MEA (Middle East and Africa)
It is predicted that the global industrial belt tensioner market will grow at a CAGR of more than 3% by 2021. The improvement in sales with the support of e-commerce is identified as one of the primary growth factors for this market. The development in e-commerce has positively impacted the sales of industrial belt tensioners in small- and medium-sized enterprises (SMEs) and in big organizations. Alibaba is one of the major players in the e-commerce industry which has made Chinese industrial belt tensioners available all over the world. The use of e-commerce has paved the way for most of the manufacturers to enter the Chinese and Asian markets. Moreover, companies from EMEA and the Americas can also easily showcase their different product portfolio and enhance their sales. With the less number of suppliers and traders for OEMs in Europe and the US in Asia, the development in e-commerce will positively impact the sales of their products in turn, aiding them gain better market positions.
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In terms of geographic regions, APAC will be the major revenue contributor to the global industrial belt tensioner market throughout the forecast period. The increasing investment in capacity additions, plant infrastructural development through the integration of latest machinery, and the continuous replacement of belts and belt tensioners, will ensure the market’s growth in APAC.
Few of the market players in Industrial belt tensioner market are:-