Global Conveyor Belt Market to grow at a CAGR of 3.71% during the period 2016-2020

The report examines the global market for conveyor belt, focusing on the 2016 statistics of the industry. To explain the conveyor belt market’s 2020 figures, a detailed overview of the market’s development trajectory since 2016 is given in the report. The report, titled ‘Global Conveyor Belt Market 2016-2020,’ is available for sale on the official website of MarketResearchReports.biz. According to the report, the global conveyor belt market is expected to expand at a 3.71% CAGR from 2016 to 2020. The high demand from the mining, power, and manufacturing industries is expected to fuel the global market for conveyor belt over the forecast period.

As competition intensifies, industries are extensively relying on technologies that help reduce overall cost, and since conveyor belts speed up the order to delivery cycle, their demand is expected to grow. As swift production and speedy delivery are the need of every industry, the demand for conveyor belts will remain through 2020. A surge in infrastructural activities and development of malls and airports is also aiding the growth of the global conveyor belt market. On the other hand, economic turmoil could restrain the demand for conveyer belts.

According to the report, eco-friendly conveyer belts is expected to be a promising trend. These eco-friendly conveyer belts have the ability to eliminate dust and pollution and does not soil from spillage, as they are closed from either side. In addition to this, these conveyer belts can make small radius bends, have self-cleaning properties, and thus reduce operational costs. Thus, high demand for eco-friendly conveyer belts is expected over the coming years.

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The report segments the global conveyer belt market on the basis of product into light-weight, heavy-weight, and medium-weight conveyer belts. The medium-weight conveyer belt segment led the market in 2015, accounting for 58% of the market, driven by a growth in manufacturing activities. Improved standard of living is another factor driving the growth of the market. On the basis of geography, the global conveyer belt market is segmented into the Americas, Asia Pacific, Europe, and the Middle East and Africa. A rise in infrastructural activities and growth of manufacturing industries are expected to drive the Asia Pacific conveyer belt market in the future. According to the report, Asia Pacific is estimated to account for 42% of the market by 2020, with China and India being key contributors.

The global conveyer belt market comprises a large number of suppliers who manufacture and deliver a single type of conveyer belts to players at international levels. These international players offer a broad range of conveyer belts. Competition is expected to become intense in the global conveyer belts market as key players develop newer and improved products. Some of the key players profiled in the report include Bando Chemical Industries, Ammeraal Beltech, Zhejiang Double Arrow, Yokohama, Intralox, Fenner, Fuxin Shuangxiang, Zhejiang Sanwei, GRT Rubber Technologies, ContiTech, Bridgestone, Mitsuboshi Belting, Wuxi Shun Sheng, Wuxi Baotong, Baoding Huayue, Habasit, and Volta Belting.

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