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Market Overview:
The global conveyor belt market size reached US$ 6.33 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.77 Billion by 2027, exhibiting at a CAGR of 3.23% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A conveyor belt is material handling equipment used to transport supplies, materials, and components efficiently and effortlessly in manufacturing facilities. It is made from rubber or plastic compounds like polyvinyl chloride (PVC), polyester, styrene-butadiene rubber, and nylon fabric. It saves time and space, improves the process quality, requires less power, and offers high versatility and cost-effectiveness. Nowadays, several manufacturers are offering customized conveyor belts in different shapes and sizes to cater to the requirements of the end users of different industry verticals, such as healthcare, aviation, and construction.
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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Conveyor Belt Market Trends:
Conveyor belts are widely employed in the food and beverage (F&B) industry to minimize human contact, reduce material handling time, and make food processing safer and more efficient. This, in confluence with the rising consumer awareness about the safety of commercial food products, represents one of the key factors bolstering the market growth. In addition, the thriving e-commerce industry is increasing the adoption of conveyor belts in warehouses and distribution centers to transport products and services, minimize labor costs, and improve productivity. Moreover, expanding construction activities worldwide are catalyzing the demand for conveyor belts to connect the broken equipment of different levels, sand production facilities, and screening equipment. This can also be attributed to governments of various countries, which are investing in infrastructural development. Besides this, there is a rise in the usage of conveyor belts in the mining industry to transport excavated and crushed rocks in an efficient manner. Apart from this, key market players are focusing on developing eco-friendly products with self-cleaning properties, which is anticipated to provide a positive outlook for the market in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global conveyor belt market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on type and end use.
Breakup by Type:
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Medium-weight conveyor belts dominate the market as they can move products of heavy load with less power and increased productivity.
Breakup by End-Use:
Breakup by Region:
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The Asia Pacific holds the largest market share on account of increasing construction activities in the region.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Bando Chemical Industries, Ltd., Michelin Group, Laitram, L.L.C., Volta Belting Technology Ltd., and Fives Group.
The global conveyor belt market was valued at US$ 6.33 Billion in 2021.
We expect the global conveyor belt market to exhibit a CAGR of 3.23% during 2022-2027.
The emerging trend of industrial automation, along with the growing demand for advanced conveyor
belts with self-cleaning properties, improved operational costs, high energy-efficiency, etc., is primarily
catalyzing the global conveyor belt market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of conveyor belts
across diverse sectors, such as food and beverages, packaging, logistics, etc., to automate numerous
operations and limit human interaction for reducing the risk of coronavirus infection.
Based on the type, the global conveyor belt market can be segmented into medium-weight conveyor
belt, lightweight conveyor belt, and heavyweight conveyor belt. Among these, medium-weight conveyor
belt currently holds the majority of the market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global conveyor belt market include Bando Chemical Industries, Ltd.,
Fenner, Intralox, Volta Belting Technology Ltd., and Fives.
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