Conveyor Belts Market: Market Size, Share and Industry Analysis for The Forecast Period 2022-2028

 

 Conveyor Belts Market.


Conveyor belts, which are used to move goods from one location to another, come in many different varieties. With the assistance of two or more pulleys, these belts continuously revolve in circles. The belt is loaded with the items that need to be transferred from one location to another.

Market Dynamics

The need for airport expans
ion, renovation, and construction of additional airports has grown as a result of an increase in air passenger traffic of Conveyor Belts Market. Analysis by Coherent Market Insights indicates that Asia expects to finish building 20 to 23 airports by 2020. For instance, work is now ongoing at the Beijing Daxing International Airport in China, which is anticipated to open in 2019. In the future, the new airport intends to have 7 total runways to accommodate 620,000 flights and 100 million passengers annually. Over the course of the forecast period, this is anticipated to boost demand for conveyor belts in the airport sector and propel the expansion of the worldwide Conveyor Belts Market.

Market Key Players

Siemens AG, TGW Logistics Group, Emerson Electric Co., Intelligrated, Daifuku Co. Ltd., Interroll Holding GmbH, Vanderlande Industries B.V., Taikisha Ltd., Fives, Bando Chemical Industries, Bridgestone, ContiTech AG, Goodyear, QingDao Rubber Six, Zhejiang Double Arrow, and Swisslog are a few of the major companies active in the global conveyor belts market.

Industry Analysis

In terms of industry analysis, the conveyor belts market can be segmented based on belt type, end-use industry, and geography.

1.     The belt type segment includes heavyweight, medium weight, and lightweight conveyor belts.

Heavyweight conveyor belts are predominantly used in industries such as mining and construction, where they need to withstand heavy loads and harsh environments. Medium weight and lightweight conveyor belts find applications in industries like food processing, packaging, and pharmaceuticals.

2.     The end-use industry segment

The conveyor belts market encompasses manufacturing, mining, logistics, food processing, and others.

3.     On Geographical region segment

The Conveyor Belts Market is divided into regions based on geography: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific now occupies a prominent position in the world market for conveyor belts, and it is anticipated that it will continue to do so over the projected period. The main driver of rising conveyor belt demand in Asia Pacific is rising industrial investment in China and India.

The conveyor belts market in North America is the second largest in the world. Due to market saturation in a number of end-use industries, the demand for these belts is anticipated to develop slowly.

The market is expected to continue its expansion, driven by advancements in technology, the emergence of new end-use industries, and the growing demand for automation. With the continuous focus on enhancing operational efficiency and reducing manual labor, the Conveyor Belts Market is poised for sustained growth in the coming years.

 


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