Global Conveyor Belt Market to Reach US$ 5.1 Bn by 2026 | Bando Chemicals, Zhejiang Double Arrow Rubber, ContiTech AG, Fenner DunlopForbo, Nitta Corporation, Bridgestone Corporation

The conveyor belt market will observe substantial growth through the next few years with an increasing penetration across the general manufacturing sector. Conveyor belts are FDA-approved and are extensively utilized across food processing and packaging applications like confectionary, bakery, snacks, dairy, fish, fruits, and vegetables to offer safety to these food items.

The belts exhibit superior resistance against fats, oils, and chemical agents while effectively transporting food and beverage items from one workstation to another without affecting or degrading their quality. Moreover, they act as a passage to move the products through the oven and the chilling sections across the industries. On a further note, portable conveyor systems are widely used to easily carry materials to upper levels across the construction sector.

It has been reported that the global conveyor belt market size will cross USD 5 billion in terms of annual remuneration by 2026.

Request for a sample copy of this research report@ https://www.gminsights.com/request-sample/detail/3267

Conveyor belt uses across the supply chain and power generation sectors is likely to record an industry share of over 4% and 11% respectively through the coming years. This is owing to the increasing adoption of conveyor belts in power generation applications to transport coal to and from the storage sites to cater to the expanding electricity demand from across the globe.

The market value of conveyor belts across the aviation industry will see considerable expansion through 2026. This can be attributed to their growing adoption in baggage handling, as well as in screening, detection, aircraft loading and unloading systems on account of the continuous surge in the number of passengers. Furthermore, the belts are employed for loading, transporting, and unloading heavy-duty materials in cargo ships. The rise in import and export activities globally has also driven the need for freight handling at ports.

On the other hand, the conveyor belt industry will garner notable proceeds from the mining application through the same year, considering the excessive use of the belts across the sector.

Request for customization@ https://www.gminsights.com/roc/3267

Demand for conveyor belt systems across the food & beverage sector will reach a significant value through the coming years. This can be attributed to the expanding population base and their higher income levels. Lack of time and changed lifestyles on account of urbanization has influenced consumer purchasing decisions for food and beverages. This trend has increased the preference for buying convenience or processed food.

The polymer conveyer belt industry was responsible for a dominant industry share in 2019 and is anticipated to collect 80% of the total remuneration up to 2026. Polymer possesses robust characteristics that make it a leading conveyer belt material to yield productive and effective outcomes. For instance, Michelin acquired U.K based, Fenner PLC in March 2018 to offer conveyor belt solutions and reinforced polymer products to meet the growing demands from the mining and general industrial sectors.

Conveyor belt manufacturers are engaging in various inorganic strategies to increase their market revenue and global presence. For instance, Bridgestone Corporation expanded the production of its conveyor belts at its manufacturing facility in Thailand in August 2015 to cater to the rising customer requirement in the Asia Pacific.

Bando Chemicals, The Yokohama Rubber, Nitta Corporation, Fenner DunlopForbo, Sempertrans, Zhejiang Double Arrow Rubber, ContiTech AG, Ammeraal Beltech, and Bridgestone Corporation are some of the other leading firms.

Table of contents for this research report@ https://www.gminsights.com/toc/detail/conveyor-belt-market  

The ongoing COVID-19 pandemic resulted in the shutdown of various manufacturing and mining sites in the initial days, adversely impacting several industrial verticals from power generation to general manufacturing. This brought negative impetus to the conveyor belt market with regards to revenue and volume.

The demand and supply of conveyor belt systems across the mining industry plummeted by a considerable amount in the first and second quarter of 2020 owing to the stringent enforcement of lockdowns across the world. On account of all these factors, the global conveyor belt industry observed a decline of over 11% in 2020. However, with the resumption of all the businesses and their operations, the market for the belts is slowly picking up pace.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll-Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

This release was published on openPR.