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Conveyor Belt Global Market Analysis, Trends, Growth, Research And Forecast 2033
Conveyor Belt Global Market
The Business Research Company presents an extensive market research report on the Conveyor Belt Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The conveyor belt market size has grown steadily in recent years. It will grow from $5.38 billion in 2023 to $5.61 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to industrialization, mining industry growth, automated manufacturing, food and beverage industry expansion, global trade increase, efficiency in agriculture.
The conveyor belt market size is expected to see steady growth in the next few years. It will grow to $6.74 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to renewable energy projects, focus on sustainability, smart conveyor systems, urbanization and infrastructure needs, e-commerce fulfillment centers. Major trends in the forecast period include advanced conveyor belt materials, smart conveyor monitoring systems, lightweight and modular belts, automation and robotics in conveyor systems, conveyor belt recycling initiatives, customization for specific industry.
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Key Market Players:
Major companies operating in the conveyor belt market report are ContiTech AG, Bridgestone Corporation, Bando Chemical Industries Ltd., Apache Inc., Sandvik AB, The Yokohoma Rubber Co. Ltd., Rexnord Corporation, Habasit AG, Zhejiang Sanwei Rubber Item Co. Ltd., Intralox LLC, Zhejiang Double Arrow Rubber Co. Ltd., Megadyne Group, Chiorino S.p.A., Ashworth Bros. Inc., GKD Gebr. Kufferath AG, Wire Belt Company Limited, Smiley Monroe Ltd., Phoenix Conveyor Belt Systems GmbH, Oriental Rubber Industries Pvt. Ltd., Fenner Group Holdings Ltd., Elastomerik Belts Private Limited, Tenova SpA, Sempertrans Conveyor Belt Solutions GmbH, Forbo Siegling GmbH, Ammeraal Beltech Holding B.V., Derco BV, Dunlop Conveyor Belting, Mafdel, Esbelt S.A., Sparks Belting Company
Market Drivers:
A surge in air passenger journeys will propel the growth of the conveyor belt market. 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 help to transport the luggage of the passenger from one location to another. For instance, according to a report published in May 2022 by the International Civil Aviation Organization (ICAO), a UN agency and a global forum for civil aviation, the number of passengers carried by air climbed by 65% from January to April 2022 compared to January to April 2021, while the number of aircraft flight departures rose by 30%. Hence, an increase in air passengers and air travel is expected to boost demand for conveyor belts during the forecast period.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/conveyor-belt-global-market-report
The conveyor belt market covered in this report is segmented -
1) By Type: Overhead, Floor, Roller, Pallet, Crescent
2) By Installation: Portable, Stationary
3) By Material: Metal, Polymer
4) By Application: Light Weight, Medium Weight, Heavy Weight
5) By End-User: Mining, Food and Beverage, Power Generation, Recycling, Supply Chain, General Manufacturing, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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