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Conveyor Belt Global Market Analysis, Trends, Growth, Research And Forecast 2033
Conveyor Belt Global Market
As per the report, 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 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%.
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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.
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.
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
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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
Contents of the report:
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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