According to the latest report by IMARC Group, titled "Europe Conveyor Belt Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the Europe conveyor belt market size reached US$ 1.6 Billion in 2022. A conveyor belt is a carrying medium that is present in the belt conveyor system to be used for transporting materials. It is a wide belt that is attached in a loop of two or more turning rotors that is driven by motors. It comprises layers of rubber that provide shape and structure to the belt as well as allow them to transport its load safely. It is an endless loop of carrying medium that rotates around the conveyor system and creates a pull effect for the goods. As a result, it is widely utilized across Europe in various industries that differ on the basis of the speed and weight required and the throughput of products on the conveyor system.
Europe Conveyor Belt Market Trends:
The market in Europe is primarily driven by the widespread product demand across the aviation industry. This can be attributed to the rising air passenger journey and the increasing need for automation in material handling in order to reduce operational efficiency and cargo loss. In line with this, the growing investments by public and private agencies for upgrading the overall airport infrastructure are creating a positive market outlook. Moreover, continuous developments in the e-commerce sector that have led to the escalating demand for distribution and warehouse facilities is providing a boost to the uptake of conveyor belt across Europe. Along with this, the widespread deployment of conveyor belts across the food and beverage industry for transporting raw materials and serving purposes is impacting the market growth favorably. Since the product offers efficient and quick transportation to increase the overall productivity and efficiency of businesses while minimizing manual labor and reducing the risk of accidents, there has been a significant increase in the demand for conveyor belts across the region. Furthermore, several major players are focusing on continuous product innovation, such as the introduction of eco-friendly conveyor belts due to an enhanced focus on sustainable development, which is gaining widespread prominence among the masses. Other factors, including rapid industrialization and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market across Europe. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.2 Billion by 2028, exhibiting a CAGR of 5.1% during 2023-2028.
- On the basis of the type, the market has been segmented into medium-weight, light-weight and heavy-weight conveyor belts.
- Based on the end-use, the market has been classified into mining and metallurgy, manufacturing, chemicals, oils and gases, aviation and others.
- On the basis of the country, the market has been divided into Germany, France, the United Kingdom, Italy, Spain and others.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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