December, 2024
The automotive timing belt market is mainly driven by increasing production and sales of vehicles and the rising global adoption of commercial and passenger vehicles. The surge in high-performance vehicles and the increasing trend for the maintenance and replacement of components within a specific time duration to ensure smooth running are crucial aspects that are driving the automotive timing belt market further. In addition, the collaboration between automotive manufacturers and material innovators is fueling the growth of the market, enhancing the creation of more durable and efficient timing belts.
The rising global population directly affects the economic status of the countries, and increasing urbanization boosts the sales and production of automobiles, again bolstering the demand for timing belts in both original equipment manufacturer markets and the aftermarket.
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