CAGR: 5%Current Market Size: USD 2 BillionFastest Growing Region: Europe
Largest Market: APACProjection Time: 2023-2030Base Year: 2022
The global automotive tensioner market is expected to grow from USD 2 billion in 2022 to USD 2.95 billion by 2030, at a CAGR of 5% during the Projection period 2023-2030. The growth of the automotive tensioner market is mainly driven owing to the increasing demand for light weight automobiles.
The purpose of the automotive tensioner is to exert force or create tension on the engine belt. When using a hydraulic tensioner, the force applied to an engine belt may be parallel to the tension in the belt, or it may be perpendicular when using a spring-loaded chain drive tensioner. Since the 1980s, automobile engines have frequently employed automotive tensioners to lessen the noise produced by the timing belts that power the camshafts. Additionally, the automotive tensioner is employed to increase the belt's resilience when driving the camshaft. The Ford Motor Company introduced the first automotive tensioner in 1986 with the Mercury Sable. It is frequently used in vehicle engines to increase durability and lower timing belt noise. The demand for smaller engines and greater reliability has grown over the last few years. Additionally, as worry over global warming has grown, manufacturers have created fuel-saving technology. Timing belt, timing chain, and auxiliaries drive belt automotive tensioners are just a few of the many varieties of automotive tensioners that are offered on the market. The automotive tensioner market is predicted to grow as the need for lightweight automobiles rises around the world in order to improve fuel economy. Globally rising passenger vehicle production and sales are anticipated to significantly increase demand for automotive tensioners, which will in turn propel the automotive tensioner market. The need for lighter and more compact automobile tensioners is anticipated to increase as environmental awareness and the development of technology to save fuel consumption increase.
Sample Request: - Global Automotive Tensioner Market
Market Dynamics:
Drivers:
The desire for lightweight vehicles has increased in recent years, which is projected to significantly increase demand for automotive tensioners. Lightweight vehicles are predicted to enhance vehicle fuel economy throughout the world. Additionally, the development of fuel-saving technology and growing awareness of environmental issues such as global warming would certainly increase demand for automotive tensioners. Therefore, one of the key factors anticipated to fuel the growth of the worldwide automotive tensioner market during the Projection period is the increased need for lighter and more compact automobile tensioners.
Restraints:
Error risks are considerable with mechanical tensioner pulleys. Over the course of the Projection period, it is anticipated that this will be a factor limiting the growth of the automotive tensioner market. Additionally, the belt may break or jump teeth as a result of tensioner problems.
Opportunities:
A rise in the desire for lightweight automobiles to maximise fuel efficiency is anticipated to be positive for the automotive tensioner industry. The need for automotive tensioners is anticipated to significantly increase due to increased production and sales of passenger automobiles around the world, which is anticipated to drive the global market. The demand for lighter and more compact automotive tensioners is projected to be driven by rising environmental awareness, the development of fuel-saving technology, and other environmental issues. Laws aimed at lowering fuel use and emissions have been passed in a number of nations. As a result, several automakers are creating technologies with low fuel consumption to help lower CO2 emissions and provide energy-saving techniques.
Challenges:
Mechanical tensioner pulleys provide a lot of potential for errors. Additionally, a faulty tensioner might cause the belt to snap or jump teeth. Over the course of the Projection period, it is anticipated that this will be a factor limiting the growth of the automotive tensioner market.
Segmentation Analysis:
The global automotive tensioner market has been segmented based on product type, vehicle type and region.
By Product Type
The product type segment is idler pulley and automatic belt tensioner. The automatic belt tensioner segment led the largest share of the automotive tensioner market with a market share of around 60% in 2022. The automatic tensioners prevents routine drive tensioning and reduces the risk of drive component overtensioning. The industry is also anticipated to benefit from a rise in the adoption of automated tensioners, which retract a belt when it is opened, in various vehicle systems, including seat belts. Particularly in diesel cars, belt-driven systems are becoming more and more preferred over other technologies. As a result, it is anticipated that the automatic belt tensioner market would expand globally over the Projection period. Governments are focusing more on supporting electric vehicles, which is probably going to impede the segment's growth.
By Vehicle Type
The vehicle type segment is commercial vehicle and passenger vehicle. Passenger vehicle led the largest share of the automotive tensioner market with a market share of around 65% in 2022. Because fewer passenger vehicle are produced than commercial vehicles. Around 1.9 million passenger cars were produced by the US auto industry in 2020, a decline of more than 23% from 2019. In 2020, there were 55.8 million passenger cars made worldwide. With nearly 20 million vehicles sold, China was the largest regional market for automobiles in the world in 2020.
Global Automotive Tensioner Market- Sales Analysis.
The sale of automotive tensioner market expanded at a CAGR of 4.1% from 2016 to 2022.
An automotive tensioner is a tool that exerts pressure to tighten the chain or belt that is used in the vehicle's drive. This mechanism distributes the rotation of the crankshaft to the camshaft and accessory drive belts while maintaining the correct tension on the timing chain or belt at all times. It is widely used in automotive engines to reduce timing belt noise and increase engine toughness. One of the key factors recognised for the growth of the automotive tensioner market globally is the increasing production of cars in both emerging and developed economies. As an illustration, the International Organization of Motor Vehicle Production estimates that 95 million automobiles were produced globally in 2016 and 97 million in 2017.
As a result, there are more cars on the road, which is driving up demand for automotive tensioners, during the Projection period. The automotive tensioner market is anticipated to grow globally as demand for lightweight automobiles rises in an effort to boost fuel efficiency of the vehicle. Additionally, the increased production and sales of passenger vehicles are predicted to significantly increase demand for automotive tensioners globally, which is anticipated to fuel the expansion of the automotive tensioner market globally.
Thus, owing to the aforementioned factors, the global automotive tensioner market is expected to grow at a CAGR of 5% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the automotive tensioner market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the automotive tensioner market and held a 38% share of the market revenue in 2022.
Global Automotive Tensioner Market- Country Analysis:
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 adoption of strict regulations on car emission standards and the significant presence of the automotive sector in this region.
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. Due to a rise in regional vehicle production and sales. There are strict laws and guidelines in place regulating emission standards, notably in China.
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. This is a result of an increase in automobile production in developing nations like India.
Key Industry Players Analysis:
To increase their market position in the global automotive tensioner market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
5% |
Market Size |
2 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Vehicle Type, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Mubea Aftermarket Services GmbH, Zhejiang Renchi Auto Parts Co., Ltd., Taizhou GEDLBT Machinery Manufacturing Co. Ltd., Gambo Industry Co. Ltd., Guangzhou Kafu Engeering Machinery Parts Co. Ltd., Gaoyao Jinxing Road Hongtong Hardware Factory, Capitol Stampings Corp., ABA Automotive, Alt America Inc., Continental AG, C R Products Ltd., Dayco Products, GMB Corporation, NTN Corporation, and The Gates Corporation. |
By Product Type |
|
By Vehicle Type |
|
Regional scope |
|
Scope of the Report
Global Automotive Tensioner Market By Product Type:
Global Automotive Tensioner Market By Vehicle Type:
Global Automotive Tensioner Market By Region:
Global automotive tensioner market is expected to reach USD 2.95 billion by 2030.
The primary driver anticipated to propel the growth of the automotive tensioner market during the Projection period would be the expanding automotive sector, both in developed and emerging economies. Additionally, because it consistently maintains the appropriate tension, an automobile tensioner lengthens the life of the belt.
Based on the vehicle type, the automotive tensioner market is segmented into commercial vehicle and passenger vehicle.
The automotive tensioner market is projected to have a CAGR of 5%.
Leading market players active in the global automotive tensioner market are Zhejiang Renchi Auto Parts Co., Ltd., Gambo Industry Co. Ltd., Mubea Aftermarket Services GmbH, Guangzhou Kafu Engeering Machinery Parts Co. Ltd, Capitol Stampings Corp., ABA Automotive, Alt America Inc., Continental AG, C R Products Ltd., Gaoyao Jinxing Road Hongtong Hardware Factory, Taizhou GEDLBT Machinery Manufacturing Co. Ltd., Dayco Products, GMB Corporation, NTN Corporation, The Gates Corporation among other.
Political Factors- Because the automaker sells in so many different nations, the political climates in these nations have a direct impact on its sales. In the European market since the conditions haven’t been as steady as those in the Asian countries, the company’s operations have been harmed. The company experienced certain problems as a result of the post-Brexit news, including higher costs, lower sales, and lessened operational ease. Automotive tensioner market has another area of operation that is related to the army and aeroplanes. It delivers the numerous modern vehicle engines to the armies. Due to lobbying and pressure from a few US and EU nations, the corporation is forced to adjust its strategy to suit the nation in power.
Economic Factors- It competes in a high-end market niche, and the majority of its clients are wealthy individuals who can afford the car. Changes in currency rates can have an impact on the company, but not significantly because premium customers are already present. The Automotive tensioner market could experience a recession, similar to the one that hit in 2008–2009, and sales could decline. The production exceeds what is needed in the market, which raises the cost of inventory once more, but this time because demand is erratic and dependent on the season. There may be times when sales are higher because there are more people interested in the car, followed by times when sales are low or nonexistent.
Social Factors- The company's entry into the aerospace industry is less respected because it is less well-known. With the recent increase in air travel, the stakes are high for Automotive tensioner market , which also produces engines for civil aeroplanes. The business can increase its profitability and sway by attracting additional consumers to the market for civil aeroplanes. The intense competition in the aerospace sector may be one problem the corporation encounters. Automotive tensioner market may need to make changes to its finances in order to sustain its profit as more players attempt to enter the market. Sales will increase for the corporation, particularly in Asia's growing nations.
Technological Factors- The business is anticipated to make greater investments in its R&D initiatives aimed at creating new and improved technologies. The business submitted almost 700 patent applications in 2016 to safeguard its intellectual property. The business sells a variety of vintage vehicles, but given the current trends, it might consider turning emission-free. Numerous firms, like as the UK-based Lunaz, are eager to work with vintage car models, disassemble them down to their external bodies, and reconstruct them to be electric. In its most recent lines, Automotive tensioner market also has the option to manufacture hybrid or all-electric vehicles.
Environmental Factors- The Automotive tensioner market for renewable sources is anticipated to become increasingly competitive in the future as more firms enter it. By enhancing its flexibility, these initiatives will lower the cost of electrical energy and cut down on the use of fossil fuels. Automotive tensioner market strives to make the most of these renewable resources possible. It has established one of the biggest sustainable supply chain systems and aims to provide more effective goods and services across all of its operational segments. The company now makes more modern engines with hybrid technology and low emissions. In the end, this has a lessening effect on the environment.
Legal Factors- market like Automotive tensioner market must abide by a number of laws when conducting business in different nations. Changes in environmental rules have an impact on how cars are made. The change in India from BS4 to BS6 serves as an illustration of this. Even if the transformation was gradual, it was nonetheless a significant one for the business. If the corporation introduces its hybrid vehicles before the standards are established, it will be in even more danger because the regulations for hybrid and fully electric vehicles have not yet been adequately defined in many nations. Any modification to the law will force the execution of significant adjustments, which will have an impact on profitability.
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