Industrial V-Belt Market Size, Share, Trends, Industry Analysis, and Forecast (2025 – 2031)

Industrial V-Belt Market Size
The global industrial v-belt market size was valued at $1.44 billion in 2025 and is projected to reach $2.04 billion by 2031, growing at a CAGR of 6.0% during the forecast period.

Industrial V-Belt Market Overview
An industrial V-belt is a flexible power transmission device designed to efficiently transfer energy between rotating shafts in various machinery and equipment. Its trapezoidal shape allows it to fit snugly into the grooves of pulleys, creating a secure connection that facilitates effective torque transfer without slipping. 
Companies can benefit from using V-belts due to their durability, low maintenance requirements, and versatility across multiple applications, including automotive engines, agricultural machinery, and industrial equipment. For instance, manufacturers like Megadyne offer a range of V-belts tailored for different operational needs, enhancing performance in demanding environments. Additionally, advancements in materials and design, such as rubber-wrapped and cogged V-belts, improve efficiency and resistance to wear and tear. The growing emphasis on energy efficiency and reliable power transmission in industries further drives the demand for V-belts, enabling companies to optimize their operations while minimizing downtime and maintenance costs. As industries continue to evolve, the adoption of high-quality V-belts will remain crucial for ensuring smooth and efficient machinery performance.

Industrial V-Belt Market Dynamics
The industrial v-belt market is expected to witness significant growth in the future due to the increasing demand for V-belts from the automotive and metals & mining industries, rising demand from food & beverage industries, and growing usage of V-belts for spooling machines in the textile industry. However, the mechanical problems and high costs associated with gear drives, availability of substitutes for V-belts, such as chains and direct drives, and fluctuating raw material prices affecting production costs are restraining the growth of the market.

Furthermore, growth in the number of design improvements in engine belts, rise in innovation to improve belt reliability and torque transmission, and increasing adoption of eco-friendly materials in V-belt manufacturing are the key trends propelling the industrial v-belt market. 

Increasing Demand for V-Belts from the Automotive and Metals & Mining Industries is Driving the Industrial V-Belt Market
The increasing demand for V-belts from the automotive and metals & mining industries is positively impacting the industrial V-belt market, as these sectors are witnessing significant growth and automation. 
• For instance, the automotive components industry in India is expected to reach USD 74.1 billion in FY2024, highlighting substantial investments and growth in manufacturing capabilities. 
• Companies like Gates Corporation and Continental AG are enhancing their product offerings with advanced V-belt technologies designed for high-performance applications in automotive systems. 
Additionally, government initiatives such as India's ""Make in India"" program are promoting local manufacturing and attracting foreign direct investment (FDI), further stimulating demand for V-belts in both automotive and mining applications. 
• The mining sector, with India operating 1,531 mines and producing 95 minerals, is also expanding rapidly; projections indicate that crude steel production could reach 255 million tons by 2030-31, necessitating efficient power transmission solutions like V-belts to support increased mechanization. 
As a result, the combination of rising industrial activities and supportive governmental policies is driving robust growth in the industrial V-belt market across these key sectors.

By Type, the Heavy-Duty Segment is projected to be the Largest Segment in the Industrial V-Belt Market
Heavy-Duty is the largest segment in the industrial v-belt market, driven by increasing demand from industries such as automotive, mining, and construction, which require robust and reliable power transmission solutions. 
• Companies like Gates Corporation and Continental AG are actively developing advanced heavy-duty V-belts tailored for demanding applications in sectors such as mining and heavy machinery. 
• For instance, in January 2024, Gates introduced a new line of heavy-duty V-belts that enhance durability and performance under extreme conditions, catering to the needs of industries that rely on high-load applications. 
Additionally, government initiatives aimed at boosting infrastructure development in countries like India, which is projected to increase its crude steel production to 255 million tons by 2030-31, further stimulate the demand for heavy-duty V-belts in construction and mining operations. As these industries continue to expand and modernize, the heavy-duty segment of the industrial V-belt market is well-positioned for substantial growth.

By Geography, Asia Pacific Holds the Largest Share in the Market Revenue
Asia Pacific holds the largest share of the industrial v-belt market, driven by rapid industrialization, particularly in countries like China and India, where automotive and manufacturing sectors are expanding significantly. This growth is fueled by the increasing mechanization of agriculture and mining industries, which heavily rely on V-belts for efficient power transmission. 
• For example, the Indian automotive industry is expected to reach USD 74.1 billion by FY2024, driving demand for V-belts used in various automotive applications. 
• Companies like Gates Corporation and Continental AG are actively expanding their product lines to cater to this growing demand, introducing advanced V-belt technologies designed for enhanced durability and performance. 
As the region continues to develop its industrial capabilities, the robust demand for industrial V-belts will play a crucial role in supporting operational efficiency across multiple sectors.

Key Target Audience:
• Manufacturers 
• Distributors and Suppliers 
• End-Users  
• Engineering and Consulting Firms 
• Maintenance and Service Providers 

List of the Key Players Profiled in the Report Includes: 
• Volta Belting Technology Ltd.
• SANMEN FUWEI RUBBER BELT MANUFACTURING CO., LTD
• Belt Technologies, Inc.
• Zhejiang jinjiu rubber belt Co Ltd
• Goodyear rubber products
• Mitsuboshi Belting Ltd.
• ContiTech AG
• Optibelt GmbH AGB
• TEXROPE 
• Gates Corporation

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type: 
• Polyurethane 
• Light Duty 
• Heavy Duty
• Narrow Type
• Wide Type

Market by, Material:
• Neoprene 
• Rubber  
• Polymer  
• Urethane Synthetic Materials

Market by, End-User: 
• Food & Beverage 
• Cement 
• Automotive
• Paper & Pulp 
• Metals & Mining
• Agricultural
• Power & Energy
 
Market by, Geography:
The industrial v-belt market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

Table Of Content

1 Market Introduction             
    1.1 Market Definition         
    1.2 Research Scope and Segmentation         
    1.3 Stakeholders         
    1.4 List of Abbreviations         
              
2 Executive Summary             
              
3 Research Methodology             
    3.1 Identification of Data         
    3.2 Data Analysis         
    3.3 Verification         
    3.4 Data Sources         
    3.5 Assumptions         
              
4 Market Dynamics             
    4.1 Market Drivers         
    4.2 Market Restraints         
    4.3 Market Opportunities         
    4.4 Market Challenges         
              
5 Porter's Five Force Analysis             
    5.1 Bargaining Power of Suppliers         
    5.2 Bargaining Power of Buyers         
    5.3 Threat of New Entrants         
    5.4 Threat of Substitutes         
    5.5 Competitive Rivalry in the Market         
              
6 Global Industrial V-Belt Market by, Type             
    6.1 Overview         
    6.2 Polyurethane          
    6.3 Light Duty         
    6.4 Heavy Duty         
    6.5 Narrow Type         
    6.6 Wide Type         
              
7 Global Industrial V-Belt Market by, Material             
    7.1 Overview         
    7.2 Neoprene          
    7.3 Rubber          
    7.4 Polymer          
    7.5 Urethane Synthetic Materials         
              
8 Global Industrial V-Belt Market by, End User             
    8.1 Overview         
    8.2 Food & Beverage          
    8.3 Cement          
    8.4 Automotive         
    8.5 Paper & Pulp          
    8.6 Metals & Mining         
    8.7 Agricultural         
    8.8 Power & Energy         
              
9 Global Industrial V-Belt Market by, Geography             
    9.1 Overview         
    9.2 North America         
             9.2.1 US
             9.2.2 Canada
             9.2.3 Mexico
    9.3 Europe         
             9.3.1 Germany
             9.3.2 France
             9.3.3 UK
             9.3.4 Italy
             9.3.5 Spain
             9.3.6 Rest of Europe
    9.4 Asia Pacific         
             9.4.1 China
             9.4.2 Japan
             9.4.3 India
             9.4.4 South Korea
             9.4.5 Australia
             9.4.6 New Zealand
             9.4.7 Rest of Asia Pacific
    9.5 South America         
             9.5.1 Brazil
             9.5.2 Argentina
             9.5.3 Chile
             9.5.4 Rest of South America
    9.6 Middle East & Africa         
             9.6.1 UAE
             9.6.2 Saudi Arabia
             9.6.3 Qatar
             9.6.4 Iran
             9.6.5 South Africa
             9.6.6 Rest of Middle East & Africa
              
10 Key Developments             
              
11 Company Profiling             
    11.1 Volta Belting Technology Ltd.         
             11.1.1 Business Overview
             11.1.2 Product/Service Offering
             11.1.3 Financial Overview
             11.1.4 SWOT Analysis
             11.1.5 Key Activities
    11.2 SANMEN FUWEI RUBBER BELT MANUFACTURING CO., LTD         
    11.3 Belt Technologies, Inc.         
    11.4 Zhejiang jinjiu rubber belt Co Ltd         
    11.5 Goodyear rubber products         
    11.6 Mitsuboshi Belting Ltd.         
    11.7 ContiTech AG         
    11.8 Optibelt GmbH AGB         
    11.9 TEXROPE         
    11.10 Gates Corporation