7/24/2023 0 Comments Cornerstone automotiveWorld Belt Drives Market by Region (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions.While Developed Regions Remain Major Revenue Contributors, Developing Regions Emerge as Fast Growing Markets.Belt Drives: Current Market Scenario and Outlook.Access to digital archives and Research Platform.Online interactive peer-to-peer collaborative bespoke updates.Market presence across multiple geographies - Strong/Active/Niche/Trivial.Global competitiveness and key competitor percentage market shares.Special coverage on Russia- Ukraine war global inflation easing of zero-Covid policy in China and its `bumpy` reopening supply chain disruptions, global trade tensions and risk of recession.Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability. Year 2023 is expected to be tough year for most markets, investors and consumers. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. With slower growth and high inflation, developed markets seem primed to enter into a recession.įears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2030. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR. China, the world's second largest economy, is forecast to reach a projected market size of US$2.3 Billion by the year 2030 trailing a CAGR of 5.7% over the analysis period 2022 to 2030.Īmong the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 3.1% respectively over the 2022-2030 period. is estimated at US$1.4 Billion in the year 2022. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 5.7% CAGR Taking into account the ongoing post pandemic recovery, growth in the Industrial Machinery segment is readjusted to a revised 4.9% CAGR for the next 8-year period. Material Handling, one of the segments analyzed in the report, is projected to record a 3.9% CAGR and reach US$2.5 Billion by the end of the analysis period.
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