Increased Vehicle Parc & Average Miles Traveled drives Timing Belt Market

pAsia Oceania is estimated to be the largest and fastest growing timing belt market during the forecast period. Countries such as China, Japan, and India are the leading markets in the region in terms of vehicle production. The production of passenger cars is the highest in the Asia Oceania region and has grown from 40.57 million units in 2011 to 43.85 million units in 2016 as per OICA. Asia Oceania contributed around 60.66% of the global passenger car production in 2016 as per OICA./p