Conveyor Belts Market is expected to reach 9,240 million USD growing at a CAGR of 2.9% by Planet Market Reports

Planet Market Reports has added a report, titled, “Global Conveyor Belts Market 2018 Forecast to 2023.” The worldwide market for Conveyor Belts is expected to grow at a CAGR of roughly 2.9% over the next five years, will reach 9240 million US$ in 2023, from 7780 million US$ in 2017, according to a new Planet Market Reports study.

The report offers insights on segments of the global Conveyor Belts market based on type and application. Types discussed in the research are Heavy weight Conveyer Belt, Light Weight Conveyer Belt, Multi-Directional Conveyor Belt. The research provides an extensive analysis for revenue, sales, and market share for each type for the historic period. Furthermore, insights for the historic period are provided based on price and sales growth. Applications explored in the research are Mining
Industrial, Food Production Industry, Agriculture, Logistics/warehousing, Construction, Other. An in-depth analysis on sales market share of each application is provided. In addition, sales growth analysis is outlined for the historic period.

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Conveyer belts are primarily employed for carrying objects, from one point to another. The belts typically comprise two or more pulleys to rotate a belt in continuous circles. The material to be transported in placed on the belt and is carried to the end point on the belt. Commonly, two pulleys are employed for functioning of one conveyor belt one of the pulleys is rotated and it drives the other pulley while it is rotating. The belts are generally used for transportation in close distances, generally within a building.

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Scope of the Report:

This report focuses on the Conveyor Belts in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

Global manufactures mainly distributed in APAC. Demand for conveyor belt is profoundly dependent on increase in industrial investments in a region. Therefore, macroeconomic factors such as GDP growth are among major growth drivers for conveyor belt market. APAC dominates the global demand market for conveyor belts and the trend is anticipated to continue for a foreseeable future. Increasing industrial investment in India and China has been among foremost factor driving demand for conveyor belt in Asia Pacific. 

The market is not only influenced by the price, but also influenced by the product performance. The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable aftersales service. Consequently, they take the majority of the market share of high-end market.

Looking to the future years, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

Despite the presence of competition problems, due to the global recovery trend is slightly, investors are still optimistic about this area; the future will still have more new investment enter the field.

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Key players active in the global Conveyor Belts market are highlighted in the research. An overview of business of each player is provided along with types and applications. Insights on sales, revenue, and price of each industry player are provided for the period, 2016–2017. In addition, gross margin analysis for each market player is provided and market share analysis for the aforementioned period. Sales market share and revenue market share are provided for the given period. Market share of top 3 and top 5 market players are outlined for 2017 to outline market concentration rate.

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