Research Nester published a report titled “Conveyor Belt Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global conveyor belt market in terms of market segmentation by material, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global conveyor belt market is estimated to garner a notable revenue by growing at a CAGR of ~6% over the forecast period, i.e., 2022–2030. The market is segment on the basis material into metal, polymers, and others, out of which the polymers segment is estimated to garner the largest market share over the forecast period, on the back of growing use of polyesters and other polymers, backed by rising innovation in this direction. Furthermore, the fluctuating costs of metal is anticipated to boost the segment growth.
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The global conveyor belt market is projected to grow on the back of increasing application in the end-user industry. Moreover, the growth in the global mining industry is estimated to boost the market growth. In 2019, over USD 1050 billion revenue was generated in the mining industry. In addition to this, increasing construction of airports across the world, is expected to promote the market growth.
Regionally, the global conveyor belt market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in the Asia Pacific is estimated to garner the largest share throughout the forecast period, on the back of the growing manufacturing sector in countries, such as, China, India, and Vietnam, along with the increasing requirement of conveyor belts in the supply chain industry. The market in the Europe region is estimate to grow with the highest CAGR over the forecast period owing to the increasing construction activities in countries, such as, Germany and France. According to report Organization for Economic Co-operation and Development (OECD), around USD 1.88 billion were spent in Germany and USD 1.029 billion were spent in France for the infrastructural development of airways.
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Growth in End-User Industries likely to Boost the Market Growth
The constant growth in the various end-user industries, including construction, mining, supply chain, aviation, and others, is estimated to positively influence the market growth. Establishment of new airports globally, rising investment in construction and mining activities, along with increasing use of conveyor belts in these sectors, is expected to boost the market growth.
However, the increasing use of drones and robots for construction, mining and other end-user industries is expected to operate as key restraint to the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global conveyor belt market which includes company profiling of Siemens AG, FIVES, Continental AG, Daifuku Co., Ltd., Interroll Group, Honeywell Intelligrated, TGW Logistics Group GmbH, Swisslog Holding AG, Vanderlande Industries B.V., and Emerson Electric Co., The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global conveyor belt market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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