This Conveyor Belts market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Conveyor Belts market.
Conveyor belts are the most commonly used industrial component that simplify the process of carrying various materials and objects from one place to another, especially in industrial environments. With the help of at least two or more pulleys, conveyor belts rotate across the route of transported objects throughout the predefined area.
With the increasing industrialization and urbanization across the world, especially in developing economies, the demand for conveyor belts in most industrial scenarios has surged dramatically. Macroeconomic factors such as growth in GDP, and microeconomic factors such as developments of commercial places such as shopping malls and airports, are among the predominant parameters that notify the potential rise in demand for conveyor belts in the coming years, triggering growth of the global conveyor belts market.
Single-layered Conveyor Belts Preferred over Multi-layered Conveyor Belts for Performance Characteristics
Single-layered and multi-layered conveyor belts are commonly used in a wide range of industrial applications, and the materials used include rubber. During the production of conveyor belts, compounds of rubber are commonly plasticized to enhance the operational efficiency of both - single-layered and multiple-layered conveyor belts.
However, in a majority of industrial applications, end users are preferring single-layers belts in order to avoid the risk of air inclusion in their multi-layered counterparts, which often leads to a decline in efficiency and overall life span of conveyor belts.
In the recent years, end users are more inclined towards resorting to customized options of conveyor belts that can more precisely suit their applications. Leading players in the global conveyor belts market are concentrating their efforts on offering more customized designs of single-layered conveyor belts to meet the specific needs of end users vis-a-vis conveyor belt length, capacity, structure, and maintenance.
Applications across Warehouses and Distribution Centres Create New Sales Potential
Increasing growth of the ecommerce industry has given rise to the expansion of the warehousing & distribution facilities across the world, and as a result, it is emerging as a significantly large end-user in the global conveyor belts market. Furthermore, positive growth of the supermarkets and retail store chains is also giving rise to the burgeoning applications of conveyor belts in the warehouses of these retailers, and this also amplifies the demand across the consumer goods sector.
Leading players in the global conveyor belts market are expected to capitalize on the increasing investments in the warehousing and distribution centres, especially in developing economies. Lifestyle changes, purchasing power of consumers, and relaxations in government’s foreign investment regulations will further boost investments in e-commerce across these economies. Consequently, this is expected to create lucrative opportunities for conveyor belt market players to tap for growth.
Conveyor Belts Market: Region-wise Analysis
Based on geography, the conveyor belts market is divided into seven regions - North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. Among all the economies, the sales of conveyor belts are heavily concentrated in developed countries in Asia Pacific, mainly in India and China, and the region is expected to continue to maintain its leading position in the global market for conveyor belts in the coming years. The continually increasing growth of industries and ballooning investments in the industrial spaces in the region creates immense potential for the sales of conveyor belts in Asia Pacific.
Asia Pacific, followed by North America, will continue to attract market leaders with lucrative opportunities for business in the coming years. North America, being the second largest market for conveyor belts, may exhibit saturation in a significantly wide range of end use industries. As a result, the conveyor belts market in the region may witness sluggish growth in the foreseeable future. Nevertheless, the regional markets in other areas such as Latin America and Africa will still witness a healthy growth, mainly attributing to the positive growth prospects of the developing economies in these regions.
Conveyor Belts Market: Competitive Landscape
Being a fragmented market in nature, regional players in the conveyor belt market are expected to have a competitive edge. With the intense competition in the global market, local manufacturers are expected to modify their pricing strategies and offer diversified portfolios of products. Introducing customized features of conveyor belts at competitive prices is expected to emerge as a popular strategy among leading players in the conveyor belts market. Key stakeholders in the market include
- Bando Chemical Industries
- QingDao Rubber Six
- ContiTech AG
- ContiTech AG, Zhejiang Double
Leading players in the conveyor belt market are introducing multiple accessories to simplify maintenance tasks for end users, and gain momentum in the conveyor belts market. For instance, Martin Engineering - a global manufacturer of material handling solutions including belt cleaners, dust management solutions, and industrial vibrators - announced in April 2020, that is has introduced its new Martin N2 position indicator (PI) that can monitor primary belt cleaner blades, track the performance of conveyor belts, and notify service technicians when when replacement or re-tensioning is required.
In February 2020, ASGCO - a conveyor belt solutions company based in Allentown, Pennsylvania in the United States - announced that it has designed a new conveyor belt cleaner by making the use of a method where the urethane blade is pinned in place, and it does not require to to mill any slots for holding pins. The company also declared that the new cleaner can be used in a wide range of applications such as mining, bulk shipping terminals, pulp and paper mills, and steel mills.
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Conveyor Belts Market: Segment Analysis
The conveyor belts market can be segmented on the basis of the following:
By Belt Type
By End-use Industry
- Poultry & Dairy
- Food & Beverage
Frequently Asked Questions
What research methodology is used to develop the Conveyor Belts Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Conveyor Belts Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
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How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.