Rubber Transmission Belts Market Analysis and Forecast up to 2026
The global rubber transmission belts market was valued at around US$ 5 Bn in 2017 and is projected to expand at a CAGR of 4.16% from 2018 to 2026, according to a new report titled ‘Rubber Transmission Belts Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) .Growth of the automotive sector across the world and increase in the number of manufacturing plants are key factors driving the global rubber transmission belts market. Additionally, availability of raw material in abundance is fueling the market. In terms of product, the global rubber transmission belts market has been classified into raw edged belts, V-belts, timing belts, wrapped belts, specialty belts, and others. The V-belts segment held a dominant i.e. 37.94% share of the global rubber transmission belts market in 2017. The timing belts segment is expected to expand at a CAGR of 3.94% from 2018 to 2026. The specia...