Girdle plates constitutes an important part of an engine assembly. When engine is running on high RPM, it generally tends to vibrate more because of the high speed. In order to provide support to the engine blocks, girdle plates are used in construction and manufacturing machines and therefore the demand for girdle plates is increasing rapidly because of its importance. This could be the key factor which will drive the growth of girdle plates market during forecasting period (2020-2030).
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Girdle plates can be manufactured by using different materials such as mild steel, cast iron and aluminum, which gives customer a choice to select best possible product according to the requirement. Hence, this factor is expected to create more demand for girdle plates in coming years. Furthermore, working of the engine block can be improved by using girdle plates as stress on the bottom part is absorbed by the girdle plate.
Considering the all the advantages of girdle plate for the engine blocks which are used in machines from construction and manufacturing industry, the demand of girdle plates is expected to increase which will eventually drive the growth of market during forecasting period (2022-2030).
Girdle Plates Market is Experiencing Decline in Demand Due to COVID-19 Outbreak
COVID-19 outbreak has affected the industries across the globe in many ways. Different industries such as construction, automotive and manufacturing industry has been affected considerably. Production in many industries has been halted, also, movements of raw materials and finished products has also been affected due to disrupted supply chain. Almost all the construction activities have been stopped in last few months because of the lockdown imposed by governments of many countries. These factors have considerably affected the girdle plates market and the demand of girdle plates has declined.
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Girdle Plates Market: Segmentation Analysis
Global girdle plate market is bifurcated into four major categories: material type, end use, distribution channel and region.
On the basis of material type, the global market for girdle plate is categorized as:
- Steel
- Zinc
- Aluminum
- Others
On the basis of end use, the global market for girdle plate is categorized as:
- Automotive
- Manufacturing
- Construction
- Others
On the basis of sales channel, the global market for girdle plate is categorized as:
- Online Channels
- Direct Sales
Girdle Plates market: Regional Outlook
East Asia and South Asia region are expected to be the key region for the growth of girdle plate market in coming years. Demand for construction related machines is increasing in the countries such as India, China and Japan which is ultimately helping the girdle plates market to grow. Owing to the importance of girdle plate for engine blocks of machines, these regions are expected to create noteworthy opportunity for girdle plates market to grow.
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Key Players in Girdle Plates Market are Focusing More Towards Improving Productivity and Quality of the Products
Considering the need for product innovation and improved product quality, key players in girdle plates market are investing high amount in R&D activities. This strategy is has proved to be very effective and these companies have been successful in gaining more market share. Key players such as Hughes Engine is constantly trying to develop more effective products by process optimization which will meet customer requirements. Furthermore, Speedmaster Inc. is focusing more towards improved product quality by manufacturing the products with the help of advanced CNC machines. Therefore, the quality of the product has been improved and demand is increasing at considerable pace.
Other key players in the girdle plates market includes BAR TEK Motorsport, Speedmaster Inc., Eurocode Tuning Inc., Lane Automotive Inc., Cummins Engine Company, Opus Innovation Pvt. Ltd., Integrated Engineering, Smool Imports, RJC Racing, PRW Industries Inc, Chevrolet, Moroso Company and Supra sport.
The global girdle plates market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, RoE)
- East Asia (China, Japan, South Korea)
- South Asia& Oceania (India, ASEAN, ANZ, Rest of Oceania)
- MEA (GCC Countries, South Africa, Turkey, Rest of MEA)
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