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Conveyor Belt Market 2023 - By Size, Trends, Opportunities And Forecast To 2032
Conveyor Belt Market
The Business Research Company's Conveyor Belt Global Market Report 2023 identifies surge in air passenger journeys as the major driver for the Conveyor Belt market's growth in the forecast period. Rapid growth in disposable income, living standards, and increasing availability of affordable air travel contributed to the surge in air passenger journeys across the globe. The rapid growth in air passenger journeys is forcing governments to establish new airports, which is predicted to boost demand for conveyor belts, as they are an integral part of airports that helps to transport the luggage of the passenger from one location to another.
The global conveyor belt market size grew from $5.18 billion in 2022 to $5.38 billion in 2023 at a compound annual growth rate (CAGR) of 3.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of the conveyor belt is expected to grow to $6.27 billion in 2027 at a CAGR of 3.9%.
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Major competitors in the Conveyor Belt market are ContiTech AG, The Yokohoma Rubber Co., Ltd., Bridgestone Corporation, Fenner Group Holdings Ltd., Elastomerik Belts Private Limited.
A key trend in the Conveyor Belt market includes technological advancement. Manufacturers operating in the conveyor belt market are developing new technologies such as eco-friendly conveyor belts, direct drive motors, smart conveyors, vacuum conveyors, adjustable conveyors, and others to meet industry demands and strengthen their market position. Eco-friendly conveyors securely move materials with little harm to the environment, reduce spillage, and protect the items from dust and harmful particles. For instance, in April 2022, BEUMER Group, a German-based manufacturer of intralogistics systems, launched an eco-friendly U-shaped conveyor belt. The U-shaped conveyor makes port terminal operations effective and environmentally friendly.
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The Conveyor Belt market is segmented -
• By Type: Overhead, Floor, Roller, Pallet, Crescent
• By Installation: Portable, Stationary
• By Material: Metal, Polymer
• By Application: Light Weight, Medium Weight, Heavy Weight
• By End-User: Mining, Food and Beverage, Power Generation, Recycling, Supply Chain, General Manufacturing, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Conveyor Belt market.
The Business Research Company's "Global Conveyor Belt Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Conveyor Belt Market Include:
1. Executive Summary
2. Conveyor Belt Market Characteristics
3. Conveyor Belt Market Trends And Strategies
4. Conveyor Belt Market - Macro Economic Scenario
5. Conveyor Belt Market Size And Growth
……………………………
26. Africa Conveyor Belt Market
27. Conveyor Belt Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Conveyor Belt Market
29. Conveyor Belt Market Future Outlook and Potential Analysis
30. Appendix
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