Conveyor Belt Market 2024 -2033: Global Outlook, Industry Share, Business Growth And Major Players

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Conveyor Belt Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $6.74 billion In 2028 At A CAGR Of 4.7% :

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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Conveyor Belt Market Major Segments
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

Key Driver - Surging Air Passenger Journeys Drive Growth In The Conveyor Belt Market

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.

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Prominent Trend - Conveyor Belt Market Embraces Technological Advancements

Technological advancement is a key trend gaining popularity in the conveyor belt market. 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. The design permits the implementation of larger mass flows than a pipe conveyor and narrower curve radii than a troughed belt conveyor, all with dust-free conveyance. The idlers make the belt into a closed tube, shielding the material conveyed from outside forces and the environment from emissions such as material loss, dust, or odors.

Conveyor Belt 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

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the conveyor belt market in 2023. Western Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the conveyor belt market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Conveyor Belt Market Report Structure
3. Conveyor Belt Market Trends And Strategies
4. Conveyor Belt Market - Macro Economic Scenario
5. Conveyor Belt Market Size And Growth
…..
27. Conveyor Belt Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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