Conveyor Belt Market: Global Trends, Growth, Share, Size, Demand and Forecast Till 2023

Global Conveyor Belt Market Research Report, Share, Size, Trends, Growth and Key Players

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Report Description and Highlights

Report Description

Conveyor Belt Market Report By Product Type (Medium-Weight Conveyor Belt, Light-Weight Conveyor Belt and Heavy-Weight Conveyor Belt), End-Use (Mining & Metallurgy, Manufacturing, Chemicals, Oils & Gases, Aviation and Others), Region The global conveyor belt market has been witnessing a positive growth over the past few years. This can be attributed to various benefits offered by conveyor belts which include improved order-to-delivery cycle, reduction of overall production cost as well as rising demand for material handling automation.

Market Overview: According to the latest report by IMARC Group, titled “Conveyor Belt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023�, the global conveyor belt market reached a value of more than US$ 5 Billion in 2017. Conveyor belts are mechanical devices which include two or more pulleys with a moving belt or chain deployed for carrying objects from one place to another. The objects placed on the belt can be transported horizontally or along an inclined slope. A continuous loop of rubber, leather, metal, plastic or fabric is formed by the belt which is supported either on a metal slider pan or on rollers. Nowadays, different lightweight and cost-effective varieties of conveyor belts are available in the market. These are generally utilised for numerous applications such as airports, food processing along with different types of transport sectors.

Report Description and Highlights

Report Description

With the consistent use of industrial conveyor systems, the producers are enabled to reduce their inventory levels. This helps in decreasing the overall production cost which is one of the primary factors driving the growth of the market. In addition to this, conveyor belts help in enhancing the order-todelivery cycle on account of a rising need of rapid delivery and production techniques. This has, in turn, contributed towards an augmented demand for conveyor belts across the globe. Moreover, the growth of the market is being positively impacted by a significant increase in the demand for automation in material handling, advancements made in technologies as well as a surge in environmental concerns due to which eco-friendly conveyor systems have been developed. However, the installation, repairing and maintaining costs of conveyor systems are immensely high owing to which small- and medium-sized industries have become increasingly reluctant to invest in the market. Looking forward, the market value is projected to exceed US$ 6 Billion by 2023, expanding at a CAGR of 3% during 2018-2023.

Conveyor Belt Market Segmentation: Market Segmentation by Product Type • • •

Medium-Weight Conveyor Belt Light-Weight Conveyor Belt Heavy-Weight Conveyor Belt

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Market Forecast

Sample Figure: Global: Conveyor Belt Market Forecast: Sales Value (in Billion US$), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description

The conveyor belt market has been segmented on the basis of product type which include mediumweight conveyor belt, light-weight conveyor belt and heavy-weight conveyor belt. Amongst these, medium-weight conveyor belts represent the largest segment owing to their vast load bearing capacity.

Market Segmentation by End-Use • • • • •

Mining and Metallurgy Manufacturing Chemicals, Oils and Gases Aviation Others

Based on end-use, the market has been segregated into mining and metallurgy, manufacturing, chemicals, oils and gases, and aviation. Currently, mining and metallurgy sector dominates the market on account of increasing usage of conveyor belts for transporting various materials over short distances.

Market Segmentation by Region Browse conveyor belt market report with TOC: https://www.imarcgroup.com/conveyor-belt-market

Market Segmentation

Report Description • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

On a geographical front, Asia-Pacific represents the largest market for conveyor belts. This can be accredited to a substantial rise in the manufacturing activities across the region. Asia-Pacific is followed by Europe, North America, Middle East and Africa, and Latin America.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • • •

Bando Chemical Industries, Ltd. Fenner Intralox Volta Belting Technology Ltd Fives

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

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Report Description and Highlights

Report Description

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