Driven by the digitalization of the mining industry and the expansion of the F&B space, the global Conveyor Belt Market is expected to command significant growth in the years to come. In fact, a Global Market Insights, Inc., report estimates that the conveyor belt industry size would be surpassing the $5 billion renumeration mark by 2025.
A highly profitable vertical of the expanding construction space, conveyor belt market stands tall in terms of revenue in today’s industrial cosmos. With the global populace growing consistently by the day and improving economic conditions, the commercialization prospects of food & beverages industry has observed quite an incline. As conveyor belts have become an integral part of any typical F&B production facility, it goes without saying that the expansion of the F&B space will help conveyer belt industry chart out a lucrative growth path in the years ahead.
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The conveyor belts market is bifurcated into portable and stationary. Portable conveyors show decent growth rate of about 4% as these are used for construction projects, at airports for loading and unloading luggage, and also for rescue conveyor systems. They have a lower market share as they are applicable only in limited number of areas.
Conveyor Belt Market, by Application:
Conveyor Belt Market, by End-use:
- Food & beverage
- Power generation
- Supply chain
- General Manufacturing
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Some of the prominent industry players in the conveyor belt market share are:
- Fenner Dunlop
- ContiTech AG
- Zhejiang Double Arrow Rubber
- Bridgestone Corporation
- Bando chemicals
- The Yokohama Rubber
- Ammeraal Beltech
- Sempertrans Conveyor Belt Soultions
- Nitta Corporation
The adoption of conveyor belts across the world’s mining sector is on the cusp of witnessing a complete overhaul as the industry undergoes a digital transformation in an attempt to move itself beyond stagnant growth and deliver exceptional value to the shareholders, the customers as well as the environment. Driven by technological advancements and given the product’s ability to boost production by a substantial margin while also cutting down labor costs, the conveyor belt market is expected to consolidate itself as the backbone of the world’s manufacturing sector, mainly characterized by mass production.
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