Global Conveyor Belt Market Report and Forecast 2023-2028

Global Conveyor Belt Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global conveyor belt market is projected to grow at a CAGR of 3.8% between 2023 and 2028. Aided by the surging demand in manufacturing, logistics, and material handling sectors, alongside advancements in automation, the market is expected to grow significantly by 2028.

Conveyor belts, which are integral components in material handling systems, are employed to transport products or raw materials through the manufacturing process. Characterised by their durability, efficiency, and reliability, these belts have witnessed an escalating demand in various industries, notably mining, retail, food and beverage, and airports, among others.

One primary factor bolstering the conveyor belt market growth is the increasing emphasis on automation within the manufacturing sector. As industries continually aim to streamline their processes, reduce manual labour, and increase efficiency, the deployment of conveyor belts has become paramount. The ability of these systems to optimise production, decrease operational costs, and minimise human errors cements their indispensability in modern industrial setups.

Furthermore, the rapid expansion of e-commerce platforms and the consequent surge in warehouses and distribution centres have greatly propelled the conveyor belt market demand. In these facilities, conveyor belts play a pivotal role in sorting, packaging, and dispatching vast quantities of products in a time-efficient manner, making them crucial for the burgeoning e-commerce industry.

The food and beverage sector, with its stringent regulations pertaining to hygiene and safety, has been progressively leaning towards conveyor belts that are easy to clean, resistant to contaminants, and compliant with food safety standards. As per the conveyor market analysis, this has paved the way for innovations in conveyor belt materials and designs specifically tailored for the food processing industry.

Mining, another significant end-use industry, relies heavily on conveyor belts due to their capability to transport bulk materials over long distances. Given the persistent demand for minerals and the consequent expansion of mining activities, the market is anticipated to witness further growth.

In the realm of transportation, especially in airports, conveyor belts are crucial for baggage handling systems and further add value to the conveyor market size. With the global air traffic on a continuous rise and airports getting busier, the demand for efficient and reliable baggage handling systems, and by extension conveyor belts, is expected to remain robust.

Market Segmentation

The market can be divided based on product type, end use, and region.

Market Breakup by Product Type

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

Market Breakup by End Use

• Mining
• Manufacturing
• Chemicals, Oils and Gases
• Aerospace
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global conveyor belt market. Some of the major players explored in the report by Expert Market Research are as follows:

• Bando Chemical Industries, Ltd.
• Fenner Conveyor Belting Pvt Ltd
• Intralox LLC.
• Volta Belting Technology Ltd
• Fives Group
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.