Wilmington, Delaware , May 20, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Enclosed Conveyor Belts Market by Enclosure Type (Fully Enclosed Belt Conveyors and Partial Enclosed Belt Conveyors), Installation Type (Overhead and Floor), and Application (Mining, Construction, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the "enclosed conveyor belts market" was valued at $646.8 million in 2023, and is estimated to reach $1,029.6 million by 2032, growing at a CAGR of 5.4% from 2024 to 2032.
Prime determinants of growth
The growing use of automation in material handling processes is driving the enclosed conveyor belts market as industries prioritize efficiency, productivity, and safety. Sectors like mining, agriculture, construction, and manufacturing face pressure to meet environmental standards, making enclosed belt conveyors a preferred choice due to their ability to prevent dust emissions and minimize spillage. However, it's crucial to ensure ongoing maintenance for optimal performance and safety, including tasks like belt replacement and structural integrity checks. Emerging economies undergoing rapid industrialization present untapped opportunities for conveyor manufacturers to expand their market presence, particularly in sectors such as mining, construction, and logistics.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2032 |
| Base Year | 2023 |
| Market Size in 2023 | $646.8 million |
| Market Size in 2032 | $1,029.6 million |
| CAGR | 5.4% |
| No. of Pages in Report | 220 |
| Segments covered | Enclosure Type, Installation Type, Application, and Region. |
| Drivers | Automation in Material Handling. Stringent Environmental Regulations. Need for Efficient Material Transportation. |
| Opportunity | Technological Advancements. |
| Restraint | High Initial Investment. |
The partial enclosed belt conveyors segment to maintain its leadership status throughout the forecast period.
By enclosure type, the fully enclosed belt conveyors segment held the highest market share in 2023, accounting for more than four-fifths of the global enclosed conveyor belts market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to its superior containment capabilities, minimized environmental impact, and compliance with stringent safety regulations.. However, the partial enclosed belt conveyors segment is projected to manifest the highest CAGR of 6.1% from 2024 to 2032, owing to its cost-effectiveness and adaptability to various industrial settings.
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The overhead segment maintained its lead position during the forecast period.
By installation type, the floor segment accounted for the largest share in 2023, contributing to more than two-thirds of the global enclosed conveyor belts market revenue due to its versatility, ease of installation, and suitability for a wide range of industrial applications and facility layouts. However, overhead segment is projected to manifest the highest CAGR of 5.7% from 2024 to 2032. This is owing to its space-saving design and suitability for optimizing vertical material transport efficiency.
The mining segment to maintain its leadership status throughout the forecast period.
By application, the others segment held the highest market share in 2023, accounting for nearly two-fifths of the global enclosed conveyor belts market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to its diverse applications across various industries beyond the defined categories, contributing to its overall market dominance. However, the mining segment is projected to manifest the highest CAGR of 6.3% from 2024 to 2032, owing to increasing demand for efficient material handling solutions in mining operations globally.
Asia-Pacific to maintain its dominance by 2032.
By region, Asia-Pacific held the highest market share in terms of revenue in 2023, accounting for more than two-fifths of the global enclosed conveyor belts market revenue and Middle East and Africa region is expected to witness the fastest CAGR of 6.6% from 2024 to 2032, owing to increasing industrialization and infrastructure development initiatives.
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Leading Market Players: -
- Fenner Dunlop
- Continental AG
- Bridgestone Corporation
- Flexco,
- Buhler
- Intralox
- Rexnord Corporation
- Habasit AG
- Fluent Conveyors
- KWS Manufacturing Company Ltd.
The report provides a detailed analysis of these key players of the global enclosed conveyor belts market. These players have adopted different strategies such as new product launches, collaborations, expansion, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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