Selbyville, Delaware, Nov. 23, 2021 (GLOBE NEWSWIRE) --
The rubber conveyor belt market size is anticipated to record a valuation of USD 4 billion by 2027, according to the most recent study by Global Market Insights Inc. Rapid urbanization, complementary technical improvements, favorable government regulations in the manufacturing sector, and robust FDI inflows are expected to drive the market growth during the forecast period.
The medium weight segment is estimated to account for 50% of the rubber conveyor belt market share by 2027. Dominance can be attributed to increasing consumption in small & medium enterprises in the past few years and rising demand from small-scale manufacturing units. In emerging countries including India, Indonesia, and Mexico, among others, the sales potential of the medium weight segment is enormous and it is poised to increase significantly as a large proportion of light & medium-weighted goods is manufactured in the region.
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The steel reinforced conveyor belt segment will observe 4.4% growth rate through 2027 led by the low replacement rates and high operational life. The rising mining sector production globally to counter the rising demand for steel reinforced conveyor belts due to their ability to withstand weight and resistance for wear & tear is improving the segment growth. Market players are also focused on developing resistant steel conveyor belts to cater to the trends.
Asia Pacific rubber conveyor belt market is projected to attain a CAGR of 4.5% till 2027 on account of the high demand from emerging nations such as China, India, and South Korea. The growing manufacturing and mining sectors in India and China are pushing regional product demand. India is one of the largest producers of cement & cement products and the growing construction sector in the region will boost market capitalization. In addition, the presence of many key manufacturers of rubber conveyor belts coupled with the presence of various steel & mining companies will support the industry growth.
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Some of the major companies operating in the rubber conveyor belt market are ContiTech AG, Bridgestone Corporation, Fenner Group Holdings Limited, SIG Societa Italiana Gomma, Oxford Rubbers, LUTZE, ARTEGO, Garlock, Trelleborg, Bando, Yokohama, Zhejiang Double Arrow, Sempertrans, QingDao Rubber Six, Fuxin Shuangxiang, and others. Key participants are focusing on key strategic moves such as innovations, mergers & acquisitions, and partnerships.
Some major findings of the rubber conveyor belt market report include:
- A growing need for conveyor belts in the Asia Pacific region owing to increasing e-commerce activities, especially in China and India, to manage large quantities of goods in warehouses is predicted to foster the market for rubber conveyor belts.
- Significant developments in the construction industry have led to the rapid development of industries and mining operations in APAC, followed by an increase in the development of urban infrastructure in the region has increased rubber conveyor belt consumption.
- The market has witnessed several innovations. For an instance, rubber conveyor belt monitoring solutions are widely distributed in the APAC region to increase the efficiency of goods transportation. The major mining countries in the region, China and Australia, have been using real-time transport monitoring systems to increase their efficiency and productivity of rubber conveyor belts.
- The COVID-19 pandemic has considerably impacted the rubber conveyor belt market in 2020 & 2021 due to forced lockdowns and shortage of raw materials. Furthermore, most of the mining processes, metal processing, and other manufacturing plants were shut down leading to unprecedent supply shortages.
- Australia is likely to have significant market demand potential is attributed to the availability of abundant oil & mineral resources. This has also helped the country to establish a strong mining sector. Moreover, favorable government policies and the adoption of the latest technologies are slated to stimulate the market progression in the country during the forecast period.
Table of Contents (ToC) of the report:
Chapter 3 Rubber Conveyor Belt Market Insights
3.1 Industry segmentation
3.2 Industry landscape
3.2.1 COVID-19 impact on industry size and forecast
3.3 Industry ecosystem analysis
3.3.1 Raw material supply
3.3.2 Value addition at each stage
3.3.3 Vendor matrix
3.4 Pricing analysis (including COVID-19 impact)
3.4.1 Regional price trends
3.4.2 Cost structure analysis
3.5 Innovation & sustainability
3.5.1 Technology landscape
3.5.2 Future trends
3.5.3 Patent landscape
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Drivers
3.7.2 Industry pitfalls & challenges
3.8 Growth potential analysis, 2020
3.9 Porter’s analysis
3.10 Competitive landscape 2020
3.10.1 Company market share analysis, 2020
3.10.2 Strategy dashboard
3.11 PEST analysis
3.12 COVID-19 impact on the industry
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/rubber-conveyor-belt-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
