New York, United States , Dec. 08, 2023 (GLOBE NEWSWIRE) -- The Global Conveyor Belt Market Size to grow from USD 4.91 Billion in 2022 to USD 7.48 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.3% during the forecast period.
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Conveyor belts are material handling systems that are meant to carry supplies and products effectively, saving time, energy, and money. These electric-powered looping belts travel through pulleys and rest on metal plate beds or rollers. They are used in a variety of industrial applications to ensure the continual circulation of goods. Their utilization increases productivity, reduces labor expenses, and ensures speedier throughput. Aside from delivering large amounts of commodities securely and reliably, the principal benefits of their use include labor savings, quick transportation, and material protection. The conveyor belt market is being driven by an increase in the use of belt conveyor systems in industries such as automotive, aviation, and retail. The mining industry gains as well, thanks to increasing demand for raw materials. Furthermore, the rise of e-commerce has resulted in an increase in automated warehouses, propelling the conveyor belt industry forward.
Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on "Global Conveyor Belt Market Size, By Belt Type (Light-weight, Medium-weight, Heavy-weight), By Installation Type (Overhead, Floor), By End User (Retail, Food & Beverage, Automotive, Mining & Metallurgy, Manufacturing, Chemicals, Oils & Gases, Aviation, Transport & Logistics, Others), By Geographic Scope and Forecast, 2022 – 2032
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Conveyor Belt Market Price Analysis
Conveyor belt prices vary based on materials like rubber, PVC, nylon, and steel, as well as features like thickness, strength, and wear resistance. Industry-specific needs also impact cost; while food processing might require FDA-approved belts, mining emphasizes durability. Costs are further influenced by labor, raw materials, and manufacturing processes. The growth in sectors like e-commerce and automated warehousing could lead to demand for specialized conveyor systems, further affecting pricing dynamics.
Conveyor Belt Market Distribution Analysis
Conveyor belt distribution involves a vast intermediary network to ensure timely product delivery. Manufacturers often partner with regional or local distributors and dealers, especially in areas without a direct company presence. While these distributors cater to various clients like warehouses and industrial plants, the rise of digital commerce has made standard conveyor belts available online, benefitting smaller enterprises. Additionally, trade shows serve as vital platforms where manufacturers showcase products, connect with potential clients, and finalize deals directly.
Insights by Belt Type
The light-weight segment accounted for the largest market share over the forecast period 2023 to 2032. Lightweight conveyor belts are preferred by food and beverage manufacturing facilities for enabling the transportation of products such as snacks, bottles, meat, and other products in various processes. Lightweight conveyor belts are extensively used in the pharmaceutical and electrical device industries. Medium-weight belts, which balance cost-effectiveness and weight-handling capability, are increasing in popularity across industries, particularly as the construction and mining industries expand globally.
Insights by Installation Type
The floor segment accounted for the largest market share over the forecast period 2023 to 2032. The conveyor belt system for the floor is installed on an elevated platform just above the floor's surface. It transfers objects, products, or materials from one area inside a facility to another using a continuous belt. Conveyor belts are very efficient industrial machinery used to transport items along a specified path. This system is widely used by industrial users such as manufacturing, distribution, warehouses, airports, and retail because of its ease of use and installation.
Insights by End User
The food and beverage segment accounted for the largest market share over the forecast period 2023 to 2032. Growing automation requirements, less manual labor, and greater productivity drive market growth. The growing population and increased demand for packaged goods in developing countries drive the food and beverage industry even further. Higher salaries and a growing take-out culture benefit the industry. Conveyor systems are widely used in food manufacturing facilities for efficient operations, driving the conveyor belt industry's growth.
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Asia Pacific Market Statistics
Asia Pacific is anticipated to dominate the Conveyor Belt market from 2023 to 2032. The Asia Pacific region dominates due to its strong economy, thriving manufacturing, and active mining. Its extensive industries and rapid infrastructure development make it an important market for conveyor belts. A thriving manufacturing sector, big infrastructure projects, more mining, and a push toward automation are all drivers. Government expenditures and fiscal stimulus help to boost industries that rely on conveyor belts even further. Conveyor belt producers focus on technological advancements for efficiency, responding to the region's different industrial needs, as the e-commerce sector expands.
North America is witnessing the fastest market growth between 2023 to 2032. The conveyor belt market in North America is mature, owing to a solid industrial basis and advanced logistics. The market is being driven by the expansion of e-commerce and increased automation in businesses and warehouses. Furthermore, the region's mining activities, particularly in coal and minerals, serve the demand for conveyor belts.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the, Companies Covered: Siemens AG, TGW Logistics Group, Emerson Electric Co., Intelligrated, Daifuku Co. Ltd., Vanderlande Industries B.V., Taikisha Ltd., Swisslog, Intralox, L.L.C., Bridgestone Corporation, ContiTech AG, Elastomerik Belts Private Limited, The Yokohoma Rubber Co., Ltd., Volta Belting Technology, Zhejiang Double, and Others.
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Recent Market Developments
- In July 2021, Air Liquide has completed the construction of Canada's largest helium purification facility, which is expected to provide critical support to North America Helium's operations in southwest Saskatchewan, Canada. This plant is the largest helium production facility in the country.
Market Size Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2032.
Conveyor Belt Market, Belt Type Analysis
- Light-weight
- Medium-weight
- Heavy-weight
Conveyor Belt Market, Installation Type Analysis
- Overhead
- Floor
Conveyor Belt Market, End User Analysis
- Retail
- Food & Beverage
- Automotive
- Mining & Metallurgy
- Manufacturing
- Chemicals
- Oils & Gases
- Aviation
- Transport & Logistics
- Others
Conveyor Belt Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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