The European markets for both V-belts and roller chains suffered through the recent downturn, dropping a combined $204.9 million, or over 30%, between 2008 and 2009. Neither market is likely to return to previous levels within the next five years. In fact, a return ever to such levels is not guaranteed. In spite of this, there remain good opportunities for revenue growth for some product types, according to a new study from IMS Research.
V-belts and roller chain sales accounted for about 50% of all industrial belt and chain sales in 2009. However, according to Power Transmission Group Director Alex West, “whilst increases in average selling prices have resulted in some revenue growth, volumes are estimated to be down over the last 5-10 years”. West continues “With energy efficiency increasingly in the forefront of customers’ minds, alternative products such as motor drive electronics will contribute to the contraction of this market”.
Growth opportunities do remain in this market however, especially for more efficient technologies. One example is the market for synchronous belts, which is estimated to improve energy efficiency by at least 5% over that from a standard V-belt. The lifetime and maintenance of these products is also improved, in part as a result of the elimination of slippage of the belts. The market for synchronous belts is expected to average over 6% growth a year between 2009 and 2013.
