Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "Conveyor Belt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global conveyor belt market size reached US$ 6.6 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 8.0 Billion by 2028, exhibiting a CAGR of 3.26% during 2022-2028.
Conveyor Belt Market Trends:
Conveyor belts are widely employed in the food and beverage (F&B) industry to minimize human contact, reduce material handling time, and make food processing safer and more efficient.
This, in confluence with the rising consumer awareness about the safety of commercial food products, represents one of the key factors bolstering the market growth. In addition, the thriving e-commerce industry is increasing the adoption of conveyor belts in warehouses and distribution centers to transport products and services, minimize labor costs, and improve productivity.
Moreover, expanding construction activities worldwide are catalyzing the demand for conveyor belts to connect the broken equipment of different levels, sand production facilities, and screening equipment. This can also be attributed to governments of various countries, which are investing in infrastructural development.
Besides this, there is a rise in the usage of conveyor belts in the mining industry to transport excavated and crushed rocks in an efficient manner. Apart from this, key market players are focusing on developing eco-friendly products with self-cleaning properties, which is anticipated to provide a positive outlook for the market in the coming years.
Key Market Segmentation:
Breakup by Type:
- Medium-Weight Conveyor Belt
- Light-Weight Conveyor Belt
- Heavy-Weight Conveyor Belt
Medium-weight conveyor belts dominate the market as they can move products of heavy load with less power and increased productivity.
Breakup by End-Use:
- Mining and Metallurgy
- Manufacturing
- Chemicals, Oils and Gases
- Aviation
- Others
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
The Asia Pacific holds the largest market share on account of increasing construction activities in the region.
Key Questions Answered in This Report
1. What was the size of the global conveyor belt market in 2022?
2. What is the expected growth rate of the global conveyor belt market during 2023-2028?
3. What are the key factors driving the global conveyor belt market?
4. What has been the impact of COVID-19 on the global conveyor belt market?
5. What is the breakup of the global conveyor belt market based on the type?
6. What are the key regions in the global conveyor belt market?
7. Who are the key players/companies in the global conveyor belt market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Conveyor Belt Market
6 Market Breakup by Type
7 Market Breakup by End-Use
8 Market Breakup by Region
9 Imports and Exports
10 Conveyor Belt Manufacturing Process
11 Competitive Landscape
Companies Mentioned
- Bando Chemical Industries
- Fenner
- Intralox
- Volta Belting Technology Ltd.
- Fives
For more information about this report visit https://www.researchandmarkets.com/r/dscsn2
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