Conveyor Belt Market: Global Revenue, Historical Growth & Forecast to 2025
Category: #world  By Rahul Varpe  Date: 2020-04-23
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Conveyor Belt Market: Global Revenue, Historical Growth & Forecast to 2025

Global Conveyor Belt Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends.

The Conveyor Belt Market is anticipated to record its name in the billion-dollar space within seven years, by exceeding a revenue of US$ 5 billion by 2025, with an anticipated CAGR of 3.5% through 2025. Implementation of favorable policies to nurture industrial development along with rapid urbanization in emerging economies has given an up thrust to manufacturing and mining sectors. These are the key driving factors for conveyor belt market growth over forecast timeframe. The product is used for conveying or transferring components & materials in different industries such as iron & steel, mining, food & beverage, etc.

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Conveyor belts are susceptible to mechanical damages, abrasive wear, loss of flexibility, etc. due to continuous operation and thus they need proper inspection and maintenance which increases the maintenance cost. This might act as a restrain for the conveyor belt market growth in future.

Based on product, the conveyor belt market is categorized into metal, polymers and others. The metal and polymers are the majorly used in various industrial applications and besides this cotton, leather, fiber glass is also used. Polymers segment will show CAGR of around 3.5% over forecast timeframe due to significant demand of better and fast material handling solutions in manufacturing sector.

On the basis of volume, modular belts have shown CAGR of over 3.4% in coming years as these belts are majorly utilized in food & beverage sector. Rising population coupled with increasing employability of women in developing nations has developed the demand of processed food, catapulting the overall product demand in coming years.

Comprehensive Review of Market Growth, Applications, and Future Prospects

  1. Light-weight,
  2. Medium-weight,
  3. Heavy-weight

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On the basis of region, Asia Pacific holds substantial share in the entire conveyor belt market owing to significant presence of the end user industries such as mining, power generation, general manufacturing, recycling, etc. The region also shows annual growth rate more than 4% in future.

Some of the prominent players in the conveyor belt market are Bridgestone Corporation, Ammeraal Beltech, Sempertrans Conveyor Belt Solutions, Bando chemicals, Fenner Dunlop, The Yokohama Rubber, Zhejiang Double Arrow Rubber, Nitta Corporation, etc.



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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