Richmond, Feb. 20, 2024 (GLOBE NEWSWIRE) -- According to a research report "Conveyor Belt Market”, by Belt Type (Roller, Flat, Modular, Cleated, Curved, Incline/Decline, Sanitary and Wash-down, Specialty, Others), Application (Light Weight, Medium Weight, Heavy Weight, Others), End use (Retail, Food and Beverage, Automotive, Transport and Logistics, Others) and Region - Global Forecast to 2030"
Global Conveyor Belt Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 4.9 Billion |
| Market size value in 2030 | USD 6.8 Billion |
| CAGR (2023-2030) | 4.1% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Belt Type, Application, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Conveyor Belt Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global conveyor belt market continues steady growth. This market encompasses a wide range of industries including manufacturing, mining, logistics, food processing, and more. The demand for conveyor belts is primarily increase by the need for efficient material handling solutions, automation in industries, and the growing emphasis on workplace safety. With the increasing implementation of automation in various industries, the demand for conveyor belts has soared. The rapid growth of e-commerce has led to a significant increase in demand for conveyor belts in logistics and distribution centers. Industries are increasingly investing in conveyor belt systems equipped with safety features to prevent accidents and injuries in the workplace. Safety measures such as emergency stop mechanisms, guarding systems, and predictive maintenance technologies are becoming standard in conveyor belt installations. The conveyor belt industry faces intense competition, as numerous leading companies compete for market share on a global scale. These enterprises consistently endeavor to discoverer and launch cutting-edge conveyor belt solutions, tailored to report the ever-changing requirements of diverse sectors.
Major vendors in the global Conveyor Belt Market are
- AMMERAAL BELTECH
- Bando Chemical Industries Ltd.
- Bridgestone Corporation
- Continental Belting Pvt. Ltd.
- ContiTech Deutschland
- Elcon Elastomers Pvt. Ltd.
- Forbo Holding Pvt.
- Michelin Group (Fenner Conveyors)
- Mitsuboshi Belting
- Semperit AG Holding
- THE YOKOHAMA RUBBER CO., LTD
- Volta Belting Technology
- Others
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Increasing Industrialization in Emerging Economies
Emerging economies are experiencing rapid economic growth, leading to increased industrialization across various sectors. With economic growth comes the need for modern infrastructure, including factories, warehouses, and transportation facilities, driving the demand for conveyor belts. As industrialization accelerates, there is a flow in manufacturing activities in emerging economies, necessitating conveyor belts for efficient material handling within production facilities. Conveyor belts play a crucial role in transporting bulk materials such as minerals, ores, and aggregates in mining operations. The growth of e-commerce and retail sectors in emerging economies requires efficient logistics and distribution networks where in conveyor belts are essential for sorting, packaging, and transporting goods. Industrialization in emerging economies creates employment opportunities, spurring the establishment of manufacturing and production facilities that require conveyor belts for material handling. Abundant governments in developing nations are enacting policies and programs to foster industrial expansion. This indirectly stimulates demand for conveyor belts by incentivizing investments in manufacturing and infrastructure ventures.
Market Dynamics
Drivers:
- Increasing Industrialization in Emerging Economies
- Technological Advancements in Conveyor Belts
- Increasing Adoption of Automation for Conveyor Belts
Opportunities:
- Exploring and Expanding into Emerging Markets
- Rising Demand for Eco-Friendly Conveyor Bolt
- Integrating Digital Technologies
Integrating Digital Technologies
Digital sensors and IoT devices can be incorporated into conveyor belts to display various parameters like temperature, vibration, and speed in real-time. This digitization facilitates remote monitoring and control of conveyor belts, granting operators immediate visions into their performance and enabling remote adjustments. Digital technologies also enhance asset management by providing comprehensive data on conveyor belt performance, usage patterns, and maintenance history. Consequently, automated safety measures can be activated to address risks and prevent accidents, so as ensuring a safer working environment for operators. Digital integration allows seamless incorporation of conveyor belt systems with supply chain management systems, enabling complete visibility and optimization of material flow throughout the production process. The integration of digital technologies into the conveyor belt market offers significant potential to boost efficiency, productivity, safety, and sustainability industry-wide, fostering innovation and facilitating future growth.
Asia Pacific dominates the market for Conveyor Belt
The Asia Pacific region dominates the conveyor belt market due to the region's robust industrial sector, encompassing manufacturing, mining, logistics, and other industries, drives significant demand for conveyor belts. The growing adoption of automation and efficient material handling solutions also contributes to the increased demand for conveyor belts in the region. The combination of robust industrial activity, infrastructure development, automation trends, and a strong manufacturing base cements the Asia Pacific region's leadership in the conveyor belt market.
North America has a highly industrialized economy with a significant focus on manufacturing, logistics, and transportation. It leads in technological advancements, particularly in conveyor belt technology. The region's infrastructure is robust, featuring extensive transportation networks and advanced manufacturing facilities. This blend of industrialization, technological progress, infrastructure development, rigorous regulations, economic expansion, and a resilient manufacturing sector all contribute to North America's supremacy in the conveyor belt market.
The Roller Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Conveyor Belt Market, the Roller segment comprises various categories such as Flat, Modular, Cleated, Curved, Incline/Decline, Sanitary and Washdown, Specialty, and Others. Roller segments are commonly produced from sturdy materials like steel or polyurethane, guaranteeing resilience and enduring effectiveness in challenging conditions. Roller conveyors typically present cost-efficient options in contrast to alternative conveyor types, presenting a substantial return on investment for enterprises. As industries increasingly prioritize automation and efficiency, there is a rising need for conveyor systems such as roller segments, which streamline operations and boost productivity. These elements collectively bolster the anticipation that roller segments will sustain the leading market share in the conveyor belt market throughout the projected period.
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