Mitsuboshi Belting expects electrification to drive business

Kobe, Japan – Mitsuboshi Belting expects vehicle electrification to create new growth opportunities, as demand continues to rise for electric power steering (EPS) and power-sports belts.

In its integrated report 2025, published 1 Oct, the company said electrification was advancing across all mobility sectors, noting that “the global shift to electric vehicles is not limited to four-wheel models.”

The Japanese belting major pointed to the rapid expansion of the electric two-wheeler market, where demand is increasing for rear-wheel drive timing belts that offer low noise and lightweight performance.

These include demand for leisure vehicles such as buggies and boats, said Mitsuboshi, adding that it will pursue sales growth in “power-sports belts” to capture the expanding segment.

The manufacturer, however, noted that the electrification trend posed a “potential risk” by reducing demand for ICE-specific belts.

However, the company said it expects the decline to be outweighed by growth in electrification-related products and aftermarket sales.

The company projects that demand for ICE-related belts will decline by Yen6 billion (€34 million) by 2030, but sales of EV-compatible belts and other products are expected to increase by Yen10 billion over the same period.

In this context, Mitsuboshi said it is strengthening development of EPS drive belts, high-value auxiliary drive systems for mild hybrid (M-HEV) applications, and rear-wheel drive belts for motorcycles, multipurpose vehicles and personal mobility devices.

The company also plans to expand its presence in the global aftermarket, particularly in emerging markets.

Mitsuboshi said it views the ongoing transformation of the mobility industry as “a new growth opportunity,” driven by the combined effects of electrification, digitalisation and changing mobility habits worldwide.