North America Conveyor Belt Market to Reach US$ 2 Billion by 2027, Impelled by Significant Growth in the Mining Industry

December 05, 2022

According to the latest report by IMARC Group, titled "North America Conveyor Belt Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," the North America conveyor belt market reached a value of US$ 1.5 Billion in 2021. A conveyor belt is a vital component of conveyor systems that transports goods from one location to another. It provides convenient movement of the products and has become an ideal material handling system component. It helps in the quick and efficient transportation of materials and products while moving heavy items, such as cars and luggage. It increases the overall efficiency and productivity of various companies, minimizes manual labor, and reduces the risks of accidents. It is handy for companies that deal with heavy goods, sharp items, raw materials, and mass products. It is a vital element for numerous end-user industries, such as automotive, aviation, retail, industrial, poultry and dairy, and food and beverage,.

North America Conveyor Belt Market Trends:

The market in North America is majorly driven by significant growth in the mining industry. In line with this, considerable improvements in warehouses and distribution centers of online merchants are positively influencing the market growth. Apart from this, extensive research and development activities to address the escalating customer concerns regarding product quality, especially the durability of raw materials utilized in production, are propelling the market. Moreover, the key manufacturers are focusing on providing novel and inventive belt materials for conveyor systems. This, in turn, is expected to fuel the market across the region. Besides this, the rising focus of the leading manufacturers on enhancing their product portfolio and widening their customer base via the acquisition of other competitors is expected to provide a thrust to the market. With the widespread adoption of industrial conveyor systems, producers are able to reduce the overall production costs, which acts as another growth-inducing factor. Other factors, including rapid technological advancements, the escalating demand for automation in material handling, and the expansion of airport infrastructure, are further expected to provide a boost to the market across the region. On account of the factors above, the market is anticipated to reach a value of US$ 2 Billion by 2027, exhibiting a CAGR of 4.39% during 2022-2027.

Market Summary:

  • On the basis of the product type, the market has been categorized into medium-weight conveyor belts, light-weight conveyor belt, and heavy-weight conveyor belt.
  • 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 region, the market has been divided into the United States, Canada, and Mexico.
  • The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
     

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North America Conveyor Belt Market to Reach US$ 2 Billion by 2027, Impelled by Significant Growth in the Mining Industry
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