Conveyor Belt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Conveyor Belt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global conveyor belt market size reached US$ 6.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.15% during 2023-2028.

A conveyor belt is material handling equipment used to transport supplies, materials, and components efficiently and effortlessly in manufacturing facilities. It is made from rubber or plastic compounds like polyvinyl chloride (PVC), polyester, styrene-butadiene rubber, and nylon fabric. It saves time and space, improves the process quality, requires less power, and offers high versatility and cost-effectiveness. Nowadays, several manufacturers are offering customized conveyor belts in different shapes and sizes to cater to the requirements of the end users of different industry verticals, such as healthcare, aviation, and construction.

Conveyor Belt Market Trends:
Conveyor belts are widely employed in the food and beverage (F&B) industry to minimize human contact, reduce material handling time, and make food processing safer and more efficient. This, in confluence with the rising consumer awareness about the safety of commercial food products, represents one of the key factors bolstering the market growth. In addition, the thriving e-commerce industry is increasing the adoption of conveyor belts in warehouses and distribution centers to transport products and services, minimize labor costs, and improve productivity. Moreover, expanding construction activities worldwide are catalyzing the demand for conveyor belts to connect the broken equipment of different levels, sand production facilities, and screening equipment. This can also be attributed to governments of various countries, which are investing in infrastructural development. Besides this, there is a rise in the usage of conveyor belts in the mining industry to transport excavated and crushed rocks in an efficient manner. Apart from this, key market players are focusing on developing eco-friendly products with self-cleaning properties, which is anticipated to provide a positive outlook for the market in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global conveyor belt market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on type and end-use.

Breakup by Type:

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

Medium-weight conveyor belts dominate the market as they can move products of heavy load with less power and increased productivity.

Breakup by End-Use:

Mining and Metallurgy
Manufacturing
Chemicals, Oils and Gases
Aviation
Others

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

The Asia Pacific holds the largest market share on account of increasing construction activities in the region.

Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Bando Chemical Industries, Ltd., Fenner, Intralox, Volta Belting Technology Ltd., and Fives.

Key Questions Answered in This Report
1. What was the size of the global conveyor belt market in 2022?
2. What is the expected growth rate of the global conveyor belt market during 2023-2028?
3. What are the key factors driving the global conveyor belt market?
4. What has been the impact of COVID-19 on the global conveyor belt market?
5. What is the breakup of the global conveyor belt market based on the type?
6. What are the key regions in the global conveyor belt market?
7. Who are the key players/companies in the global conveyor belt market?