The global timing belt market is projected to expand gradually through 2035. While the shift to EVs is expected to reduce OEM demand, growth in the aftermarket and demand related to industrial machinery and robotics are expected to support the market.
According to the latest report from IndexBox, the global timing belt market is expected to grow at an average annual rate of approximately 2.5% from 2026 to 2035, with the market index reaching approximately 128 by 2035 (2025 = 100). While the shift to EVs is expected to reduce OEM demand for automotive applications, aftermarket demand is projected to remain firm.
Automotive engines account for the largest share of demand by major application. However, growth in the aftermarket is expected to offset declining OEM demand for ICE vehicles in developed countries, while investment in industrial machinery, robotics and automation is expected to drive growth. The shift toward more durable materials, including polyurethane and metal-reinforced belts, is also progressing.
By region, Asia-Pacific is the center of production and consumption, while North America and Europe are focusing on high-value-added segments and technological innovation. Competition in the market is moderately concentrated, and leading companies are expected to focus on product innovation, partnerships and expansion in emerging markets.
The projected end-use structure through 2035 is automotive engines (approximately 45%), industrial machinery (approximately 25%), conveyor systems (approximately 15%), agricultural machinery (approximately 8%) and other applications (approximately 7%). Aftermarket and emerging-market trends are expected to support the market.