Conveyor Belt Market to register 3.5% CAGR by 2025

Conveyor Belt Market share was valued at USD 4 billion in the year 2018 and is projected to surpass a revenue of USD 5 billion by the year 2025.
Know about Market growth in New Research and its Top growing factors by Key Companies like
ContiTech AG, The Yokohoma Rubber Co. Ltd., Bridgestone Corporation, Fenner Group Holdings Ltd., Elastomerik Belts Private Limited, Continental Belting Private Limited, Sempertrans Conveyor Belt Solutions GmbH, Intralox, L.L.C., Siban Peosa SA, Bando Chemical Industries, Ltd., Zhejiang Double Arrow Rubber Co. Ltd., Nitta Corporation, All-State Belting, LLC, S.I.G. Societa Italiana Gomma S.p.A., MRF Limited
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The worldwide Conveyor Belt Market to register a CAGR of 3.5% over the period of 2019-2025. Analysis of the report based on competitive landscape, evolving technologies, current business trends, key industry players, growth pattern, and demand projections by the year 2025. The report also includes an in-depth analysis of the market based on its segments and sub-segments.
Conveyor belts are susceptible to mechanical damages, abrasive wear, loss of flexibility, etc. due to continuous operation and thus they need proper inspection and maintenance which increases the maintenance cost. This might act as a restrain for the conveyor belt market growth in future.
Based on product, the conveyor belt market is categorized into metal, polymers and others. The metal and polymers are the majorly used in various industrial applications and besides this cotton, leather, fiber glass is also used. Polymers segment will show CAGR of around 3.5% over forecast timeframe due to significant demand of better and fast material handling solutions in manufacturing sector.
Report Growth Drivers -
  1. Growth in the mining industry Growth in steel and cement industry
  2. Growth in the convenience food & beverage sector
Make an inquiry for purchasing this [email protected]https://www.decresearch.com/inquiry-before-buying/3267 Based on application, the market is bifurcated into light, medium and heavy weight. Medium weight belts hold substantial volume share of over 45% in the entire segment and show the positive growth in future due to its substantial applications across all end use industries. Medium weight conveyor belts are used for sand and gravel, waste and recycling plants, steel & iron industry, cement manufacturing, foundries, submerged ash handling, glass works, etc. On the basis of region, Asia Pacific holds substantial share in the entire conveyor belt market owing to significant presence of the end user industries such as mining, power generation, general manufacturing, recycling, etc. The region also shows annual growth rate more than 4% in future. Based on product, the conveyor belt market is categorized into metal, polymers and others. The metal and polymers are the majorly used in various industrial applications and besides this cotton, leather, fiber glass is also used. Polymers segment will show CAGR of around 3.5% over forecast timeframe due to significant demand of better and fast material handling solutions in manufacturing sector. Market Segmentation: Comprehensive Review of Market Growth, Applications, and Future Prospects
  1. Light-weight,
  2. Medium-weight,
  3. Heavy-weight
Request for discount @https://www.decresearch.com/request-discount/3267 Key Reasons to Purchase the Market Report
  1. The report elaborates on an in-depth evaluation of the market with respect to the product type segment, end-use segment, regional segment, and market opportunities till 2025
  2. A detailed data review alongside the meta-analysis of the market - with respect to the global vendors as well as regions - until 2025
  3. An in-depth understanding of the driving factors that will influence the market demand and preventive strengths in the market
  4. The report helps identify the latent growth opportunities of the market along with the CAGR forecast till 2025.
  5. The report will also help identify basic problems, solutions, and product developments to manipulate the progress threat.