Europe Non-Automotive Rubber Transmission Belts Market Size Worth USD 1,685.83 Million By 2032 | CAGR: 3.6%

The Europe Non-Automotive Rubber Transmission Belts market size is expected to reach USD 1,685.83 Million by 2032, according to a new study by Polaris Market Research. The report “Europe Non-Automotive Rubber Transmission Belts Market Share, Size, Trends, Industry Analysis Report, By Product (Raw Edged Belts, V-Belts, Timing Belts, Specialty Belts, Others); By Application; By Country; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market for Non-Automotive Rubber Transmission Belts in Europe has experienced significant growth in recent years. This growth can be primarily attributed to the increased urbanization and industrialization in the Europe region. This is due to the favorable conditions available and standardized rules and regulations made by the European Union for quality check to maintain the quality and product supremacy over other competitors in the world. Germany is home to some of the best non-automotive rubber transmission belts manufacturers along with cutting edge technology integration capabilities owing to one of the driving factors for this market’s growth. Adoption of technology by other countries in Europe is anticipated to accelerate the growth of non-automotive rubber transmission belts market in Europe over the forecast period.

Automation trends and technical improvements like smart functionalities and greater energy efficiency are driving market expansion. Growing urbanization, industrialization, and mining activity are anticipated to drive the market for non-automotive rubber transmission belts.  The use of robotic systems is leading to an increase in the industrial sector. In order to meet the rising expectations of consumers in the market, European manufacturers are expanding their manufacturing capabilities. During COVID-19, the market experienced difficulties due to significant disruptions in the supply chain and manufacturing operations, as well as various preventive lockdowns and other restrictions imposed by global regulatory bodies.

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There is a growing need for substitute rubber materials in the non-automotive rubber transmission belts industry. This is encouraging the development of sustainable substitutes for conventional materials that lessen the ecosystem's carbon footprint. ContiTech has successfully innovated a substitute which is said to emit 50% less carbon in the environment. However, the price volatility of raw materials is a substantial obstacle to the growth of the non-automotive rubber transmission belts market. The price of the finished product is ultimately determined by changes in the pricing and availability of these materials, which also impact production costs. Geopolitical events, economic upheavals, and environmental concerns can all generate supply chain disruptions and pricing instability.

Europe Non-Automotive Rubber Transmission Belts Market Report Highlights

• The market is dominated by the V-belts segment owing to its wide applications in Europe's all fields of mechanical engineering, particularly those involving small-sized compact drives, as those used in compressors, fans, lawn mowers, machine tools, and several other applications.
• The mining sector in the market is poised for substantial expansion, with a significant CAGR over the projected period owing to the steel-consuming sectors, including construction, smelting, mining, and heavy machine tools require frequent usage of rubber transmission belts to transfer bulk material in the industrial sector.
• The Germany is currently at the forefront of the Non Automative Rubber Transmission Belts  market in Europe, owing to have access to some of the most cutting-edge materials and production techniques.
• The key market players include Continental AG, Cross & Morse, CRP Products, Habasit, Hangzhou Grand Transmission Tech Co, Ltd., Moltech AH, Elatech S.r.l, PIX Transmissions Ltd.

Polaris Market Research has segmented the Europe non-automotive rubber transmission belts market report based on product, application and country:

Europe Non-Automotive Rubber Transmission Belts, Product Outlook (Revenue - USD Million, 2019 - 2032)

• Raw Edged Belts
• V-Belts
• Timing Belts
• Specialty Belts
• Others

Europe Non-Automotive Rubber Transmission Belts, Application Outlook (Revenue - USD Million, 2019 - 2032)

• Industrial
• Agricultural Equipment
• Building & Construction
• Mining
• Aerospace
• Food and Processing Industry
• Textile Industry
• Others

Europe Non-Automotive Rubber Transmission Belts, Country Outlook (Revenue - USD Million, 2019 - 2032)

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

Europe Non-Automotive Rubber Transmission Belts Market Report Scope