Conveyor Belt Market By Belt Type (Light-weight, Medium-weight, Heavy-weight), By Installation Type (Overhead, Floor), By End User (Retail, Food and Beverage, Automotive, Manufacturing, Transport and Logistics, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global conveyor belt market size was valued at $5,107.4 million in 2022 and is projected to reach $8,334.3 million by 2032, registering a CAGR of 4.9% from 2023 to 2032. Conveyor belts are an indistinguishable part of conveyor systems that are used for material movements within a confined space. A conveyor system is part of a production line where it moves unfinished products from one process to another. In addition, in facilities such as warehouses, baggage handling, and others including the mining industry, conveyor belts are used for transporting material from one place to another.
A conveyor belt is an indistinguishable component in most manufacturing facilities across the world. Sectors such as pharmaceuticals, consumer products, consumer electronics, and various others have witnessed a notable rise, which has positively affected the market for conveyor belts. In addition, the rising demand for mined products, for energy generation, for use in construction, or various other uses in the manufacturing sector has positively affected the mining industry. Additionally, rising number of automated warehouses, driven by the growing e-commerce sector is also positively affecting the conveyor belts market. However, the high and fluctuating cost of raw materials are major restraints in the growth of the market. Furthermore, a rise in the number of small-scale industries in emerging economies is anticipated to provide lucrative opportunities for the growth of the conveyor belt market.
Furthermore, the price of oil & gas and the price of raw materials are experiencing increased volatility globally, due to a rise in inflation mainly driven by Ukraine–Russia war. This has led to slow-paced growth of the conveyor belt market and its related industries.
The conveyor belt market is segmented on the basis of belt type, installation type, end user, and region. By belt type, the market is divided into lightweight, medium-weight, and heavy-weight. Depending upon the installation type, the market is categorized into overhead, and floor. On the basis of end user, it is divided retail, food and beverage, automotive, manufacturing, transport and logistics, and others. Region-wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition Analysis
Key companies profiled in the conveyor belt market report include THE YOKOHAMA RUBBER CO., LTD., Bridgestone Corporation, Continental Belting Pvt. Ltd., Volta Belting Technology, Bando Chemical Industries, Ltd., SIG Societ Italiana Gomma S.p.A., Trenn- und Sortiertechnik GmbH, HUANAN XINHAI (SHENZHEN) TECHNOLOGY CO., LTD., Elcon Elastomers Pvt. Ltd.,and Michelin Group (Fenner Conveyors). The major players that operate in the global market have adopted key strategies such as business expansion, and product launch to strengthen their market outreach and sustain the stiff competition in the market.
Key benefits for stakeholders
The report provides an extensive analysis of the current and emerging conveyor belt market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2022 and 2032.
Extensive analysis of the conveyor belt market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
The global conveyor belt market forecast analysis from 2023 to 2032 is included in the report.
Key market players within the conveyor belt market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the conveyor belt industry.
Key Market SegmentsBy Belt TypeLight-weight
Medium-weight
Heavy-weight
By Installation TypeOverhead
Floor
By End UserRetail
Food and Beverage
Automotive
Manufacturing
Transport and Logistics
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
THE YOKOHAMA RUBBER CO., LTD.
Bridgestone Corporation
Continental Belting Pvt. Ltd.
Volta Belting Technology
Bando Chemical Industries, Ltd.
SIG Societ Italiana Gomma S.p.A.
Trenn- und Sortiertechnik GmbH
HUANAN XINHAI (SHENZHEN) TECHNOLOGY CO., LTD.
Elcon Elastomers Pvt. Ltd.
Michelin Group (Fenner Conveyors)
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