Industrial V-belt Market Size & Share Analysis - Growth Trends and Forecast (2025 - 2030)

The Industrial V-Belt Market report segments the industry into By Type (Classical V-Belt, Narrow V-Belt, Wedge V-Belt, Banded V-Belt), By Material (Rubber Belt, Polyurethane V-Belt, Neoprene V-Belt), By End-User Vertical (Automotive Industry, Agriculture, Mining and Quarrying, Manufacturing, Construction, HVAC Systems), and By Geography (North America, Europe, Asia, Australia and New Zealand, Latin America, Middle East and Africa).

Industrial V-Belt Market Size

Compare market size and growth of Industrial V-Belt Market with other markets in Manufacturing Products and Services Industry

Industrial V-Belt Market Analysis

The Industrial V-Belt Market size is estimated at USD 1.58 billion in 2025, and is expected to reach USD 2.01 billion by 2030, at a CAGR of 5% during the forecast period (2025-2030).

  • Industries are increasingly prioritizing energy conservation and operational efficiency. This shift has spurred the creation of high-efficiency V-belts designed to minimize energy losses through enhanced grip and reduced slippage. For instance, the Predator V-belts from Gates Corporation stand out for their resistance to oil, heat, and other challenging environmental factors, making them perfect for demanding situations. Notably, they can transmit up to 50% more power than standard belts.
  • To boost the durability, flexibility, and temperature resilience of V-belts, manufacturers are turning to innovative materials such as polyurethane, carbon fiber, and specialized rubber compounds. This movement is especially pronounced in scenarios where belts face extreme conditions. For instance, composite V-belts are addressing challenges in HVAC systems, notably the shortened lifespan of V-belts under high temperatures.
  • In response to rising demand, market manufacturers are boosting production capacities and upgrading facilities. The vulnerabilities of the global supply chain have spurred a shift toward regionalization and reshoring. A case in point: Dayco is set to bolster its North American footprint with a new facility in Mexico, slated for 2024.
  • Despite its growth, the V-belt market contends with challenges, especially from the increasing adoption of alternative power transmission methods, such as synchronous belts. These alternatives are often preferred for their precision and minimal maintenance requirements. On another front, manufacturers are navigating stricter environmental regulations concerning emissions and material disposal, prompting a shift towards more sustainable product development.
  • Asia-Pacific, with a spotlight on India and China, is witnessing rapid industrialization, serving as a significant catalyst for the V-belt market. Bolstered by foreign direct investment (FDI) and government-led infrastructure initiatives, the region's automotive and mining sectors are thriving. This growth, coupled with a broader industry shift toward automation, is fueling a strong demand for industrial V-belts.

Industrial V-Belt Industry Overview

The market features a mix of global giants and regional players, with competition driven by product innovation, technological advancements, price competitiveness, and strategic expansion. It is a fragmented landscape, with numerous manufacturers providing a diverse array of V-belts for industries like automotive, manufacturing, agriculture, mining, and construction. The key market players include Continental AG, Gates Corporation, Hutchinson, SFK, and Fenner Drives. These companies capitalize on their vast product portfolios, global distribution networks, and innovative prowess. To stay ahead, manufacturers are honing in on advanced materials for their V-belts. Furthermore, players are carving out niches by specializing in offering V-belts tailored to specific industries or applications.

With a growing emphasis on sustainability across industries, companies are urged to pivot toward eco-friendly production. This includes utilizing recyclable materials and minimizing emissions. By crafting green V-belts with extended lifecycles and reduced environmental footprints, companies can meet customer demands and regulatory standards and bolster their market competitiveness. Moreover, addressing unique customer needs can set companies apart from competitors offering more generic products. Thus, a balanced approach that intertwines innovation, sustainability, operational efficiency, and market expansion is essential.

Industrial V-Belt Market Leaders

  1. Gates Corporation

  2. ContiTech Deutschland GmbH

  3. Mitsuboshi Belting Ltd

  4. Fenner Drives, Inc.

  5. Optibelt GmbH

  6. *Disclaimer: Major Players sorted in no particular order
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Industrial V-Belt Market News

  • August 2024: Gates Corporation is enhancing its bandless V-belt lineup. The composition of the Super High Capacity (HC) Molded Notch (MN) V-belt will transition from standard chloroprene rubber (CR) materials to advanced ethylene elastomer (EE) compounds. Furthermore, in July 2024, the company began producing its EE Tri-Power V-belts in Europe, ensuring reduced lead times and improved availability.
  • March 2024: V-Belt manufacturer Dayco Inc. inaugurated its new plant in San Luis Potosí, Mexico, located in the Tres Naciones Park, in the Industrial Zone of the state. The new plant will be used to produce belts for light combustion cars, with its molded tooth design that operates more quietly and efficiently. In terms of its scale and capacity, the facility covers 73,000 sq. ft and is equipped with state-of-the-art machinery that can produce up to 4.2 million Poly-V belts annually,

Industrial V-Belt Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Threat of Substitutes
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Impact of the Aftereffects of the COVID-19 Pandemic and Other Macroeconomic Factors on the Market

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Industrial Automation Growth
    • 5.1.2 Maintenance and Replacement Demand
  • 5.2 Market Restraints
    • 5.2.1 Volatile Raw Material Prices

6. MARKET SEGMENTATION

  • 6.1 By Type
    • 6.1.1 Classical V-belt
    • 6.1.2 Narrow V-belt
    • 6.1.3 Wedge V-belt
    • 6.1.4 Banded V-belt
  • 6.2 By Material
    • 6.2.1 Rubber Belt
    • 6.2.2 Polyurethane V-belt
    • 6.2.3 Neoprene V-belt
  • 6.3 By End-user Vertical
    • 6.3.1 Automotive Industry
    • 6.3.2 Agriculture
    • 6.3.3 Mining and Quarrying
    • 6.3.4 Manufacturing
    • 6.3.5 Construction
    • 6.3.6 HVAC Systems
  • 6.4 By Geography***
    • 6.4.1 North America
    • 6.4.2 Europe
    • 6.4.3 Asia
    • 6.4.4 Australia and New Zealand
    • 6.4.5 Latin America
    • 6.4.6 Middle East and Africa

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 Gates Corporation
    • 7.1.2 ContiTech Deutschland GmbH
    • 7.1.3 Mitsuboshi Belting Ltd
    • 7.1.4 Fenner Drives Inc.
    • 7.1.5 Optibelt GmbH
    • 7.1.6 Bando Chemical Industries Ltd
    • 7.1.7 SFK Group
    • 7.1.8 Hutchinson
    • 7.1.9 PIX Transmissions Ltd
    • 7.1.10 Timken Belts
    • 7.1.11 Zhejiang Sanlux Rubber Co. Ltd
    • 7.1.12 PowerDrive LLC
    • 7.1.13 BEHA Innovation GmbH
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. FUTURE OF THE MARKET

**Subject to Availability
***In the final report, Asia, Australia and New Zealand will be studied together as 'Asia Pacific'
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Industrial V-Belt Industry Segmentation

An industrial V-belt is a type of mechanical belt used in machinery to transmit power between rotating shafts, typically from a motor to a pulley. It has a V-shaped cross-section, which allows it to fit snugly into pulley grooves, providing strong traction and reducing slippage. V-belts are known for their efficiency, durability, and ability to handle high loads, making them essential in various industrial applications.

The study tracks the revenue generated from the sale of industrial V-belts by various manufacturers worldwide. It also tracks the key market parameters, underlying growth influencers, and major manufacturers operating in the industry, which supports the market estimations and growth rates during the forecast period. The study further analyses the overall impact of macroeconomic factors on the market.

The industrial v-belt market is segmented by type (classical v-belt, narrow v-belt, wedge v-belt, and banded v-belt,) material (rubber v-belt, polyurethane v-belt, and neoprene v-belt), end-user vertical (automotive industry, agriculture, mining and quarrying, manufacturing, construction, and HVAC systems), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Type Classical V-belt
Narrow V-belt
Wedge V-belt
Banded V-belt
By Material Rubber Belt
Polyurethane V-belt
Neoprene V-belt
By End-user Vertical Automotive Industry
Agriculture
Mining and Quarrying
Manufacturing
Construction
HVAC Systems
By Geography*** North America
Europe
Asia
Australia and New Zealand
Latin America
Middle East and Africa
By Type
Classical V-belt
Narrow V-belt
Wedge V-belt
Banded V-belt
By Material
Rubber Belt
Polyurethane V-belt
Neoprene V-belt
By End-user Vertical
Automotive Industry
Agriculture
Mining and Quarrying
Manufacturing
Construction
HVAC Systems
By Geography***
North America
Europe
Asia
Australia and New Zealand
Latin America
Middle East and Africa
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Industrial V-Belt Market Research FAQs

How big is the Industrial V-Belt Market?

The Industrial V-Belt Market size is expected to reach USD 1.58 billion in 2025 and grow at a CAGR of 5% to reach USD 2.01 billion by 2030.

What is the current Industrial V-Belt Market size?

In 2025, the Industrial V-Belt Market size is expected to reach USD 1.58 billion.

Who are the key players in Industrial V-Belt Market?

Gates Corporation, ContiTech Deutschland GmbH, Mitsuboshi Belting Ltd, Fenner Drives, Inc. and Optibelt GmbH are the major companies operating in the Industrial V-Belt Market.

Which is the fastest growing region in Industrial V-Belt Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Industrial V-Belt Market?

In 2025, the Asia Pacific accounts for the largest market share in Industrial V-Belt Market.

What years does this Industrial V-Belt Market cover, and what was the market size in 2024?

In 2024, the Industrial V-Belt Market size was estimated at USD 1.50 billion. The report covers the Industrial V-Belt Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Industrial V-Belt Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Industrial V-Belt Industry Report

Statistics for the 2025 Industrial V-Belt market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial V-Belt analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.