The Automotive Belts Market, a key subindustry of the broader Automotive and Transportation sector, plays a crucial role in enhancing engine efficiency, supporting fuel economy, and ensuring long-term durability of vehicles. The global belts market was valued at approximately USD 27.8 billion in 2024, with a projected CAGR of 4.5% through 2033, driven by rising demand for lightweight, hybrid ready and EV compatible belts. Regional trends indicate strong growth in North America and Asia Pacific, fueled by the adoption of passenger vehicles, commercial vehicles and hybrid electric vehicles, while Europe shows high demand for premium, long life serpentine and timing belts. Emerging markets in India, China and Southeast Asia are witnessing increasing penetration of aftermarket belts and replacement belts for older vehicles, offering lucrative growth opportunities.
Belts overview
Published by MMR Statistics Research Team, Updated