European non-automotive rubber transmission belt market forecast at $1.6 billion
Europe non-automotive rubber transmission belts market size was valued at USD 1,257.27 million in 2023. The market is anticipated to grow from USD 1,272.23 million in 2024 to USD 1,685.83 million by 2032, exhibiting the CAGR of 3.6% during the forecast period according to Polaris Market Research.
The Europe non-automotive rubber transmission belts market is growing due to industrialization and Europe’s rising need for manufactured goods. The market is expanding due to automation trends and technological advancements such smart functions and increased energy efficiency to fulfil the need for material handling processes efficiently across a range of sectors is propelling the European market’s notable expansion and development. Moreover, Europe is considered as trade hub for export for various countries having full connectivity is fueling the growth of this market.
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