Home Mining Minerals & Metals Global Conveyor Belt Market Strategy, Top Trends - Industry Outlook, 2029

Conveyor Belt Market

Conveyor Belt Market Size, Share & Trends Analysis Report By Material (Metal, Polyester, Nylon, Polymer, Other), By Product (Flat Belt, Modular Belt, Cleated Belt), By Installation (Portable, Stationary), By Application (Light-Weight, Medium-Weight, Heavy-Weight), By End-User (Mining, Food and Beverage, Power Generation, Recycling and Scrap Handling, Construction, Supply chain) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRMM635DR
Study Period 2020-2032 CAGR 4.2%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
Largest Market North America Fastest Growing Market North America
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Market Overview

Increasing consumer demand and spending are fostering exponential growth in the manufacturing industry. Manufacturers are increasingly relying on automation to enhance their production capacities. The need for quicker movement of materials within manufacturing facilities has paved way for the adoption of conveyor belts. Thus, the conveyor belt market is expected to mirror the manufacturing and associated sectors in terms of growth.

Trade wars, recession, and developed economies’ inclination toward protectionism have seen fluctuations in manufacturing activities; however, financial bailouts and the emerging middle class in developing economies are expected to offset the adverse impact, bolstering the growth of the conveyor belt market.

The conveyor belt market is pegged to be in between the growth and maturity phases. Industries using conveyor belts carry routine inspections and have trained their staff in maintenance, which has increased the lifespan of conveyor belts to a significant extent. A number of companies operating in the construction, F&B, and mining sectors have set up operating units in developing economies, which are expected to act as tailwinds for market growth in years to come.

Manufacturers are focusing on producing conveyor belts with lower outages due to electrical or mechanical issues. They are likely to extend maintenance and consultancy services to their clients in a bid to maintain their market share and increase client retention.

Market Dynamics

Shifting Buyer Behavior: From Offline to Online

Consumer preference has been observing a shift from offline to online. Doorstep delivery, attractive discounts, aggressively marketing, and favorable government initiatives drive the growth of e-commerce. In light of the e-commerce sector’s widespread reach, consumer goods manufacturers are partnering with giants such as Amazon to cater to a larger customer base.

Growing Demand for Consumer Goods

Manufacturers have gradually moved from manufacturing one product for a region to manufacturing more consumer-centric products, which is accelerating the demand for these products. warehouses and more efficient handling equipment such as conveyor belts. The use of taller pallets for goods storage also bolsters the demand for these belts in storage facilities.

Increasing F&B Outlets & Rising Consumer Spending

Conveyor belts find use in sorting and handling operations across the F&B sector. Thus, the F&B sector’s growth is expected to influence that of the conveyor belt market. The F&B sector has been observing exponential growth in the last few years, primarily due to an emerging middle class, rising disposable income, and the increasing number of cafeterias, restaurants, and food outlets and kiosks in malls.

Increasing Bottled Water Consumption

Today’s fast-paced lifestyle has seen growth in the consumption of bottled water, particularly among millennials. As per the International Bottled Water Association, bottled water consumption grew from 12.8 million gallons in 2016 to 13.7 billion gallons in 2017, marking a considerable increase. The consumption will further increase with urban expansion depleting and polluting freshwater sources, which will provide a fillip to the conveyor belt market.

In construction, conveyor belts are used in sorting, meshing, and transporting materials such as cement, bricks, steel. Infrastructure and city beautification projects are bolstering the construction sector and, in turn, positively influencing the conveyor belt market.

Conveyor belts play a crucial role in material handling across industries, primarily due to their unparalleled speed and efficiency. In the cement industry, they are used for carrying rocks and limestone blocks, provide high impact resistance. They also find use in the steel industry. Thus, the conveyor belt market is expected to trail the growth of the construction and steel markets to some extent.

Rising Per Capita Income

Economic growth and employment opportunities have improved per capita income, leading to an upsurge in the consumption of food, beverage, and consumer goods. The IMF estimates that Asia-Pacific grew 5% during 2018–2019, which underlines the region’s growth potential. Currently, Asia-Pacific accounts for a substantial value share in the global conveyor belt market.

Asia-Pacific’s food and beverage, mining, construction, steel, and cement industries drive the regional conveyor belt market. The region has some of the largest reserves of natural resources, such as steel, coal, limestone, gold, and diamonds. Mining and exploration activities bolster the adoption of conveyor belts.

Report Scope

Report Metric Details
Segmentations
By Material
  1. Metal
  2. Polyester
  3. Nylon
  4. Polymer
  5. Other
By Product
  1. Flat Belt
  2. Modular Belt
  3. Cleated Belt
By Installation
  1. Portable
  2. Stationary
By Application
  1. Light-Weight
  2. Medium-Weight
  3. Heavy-Weight
By End-User
  1. Mining
  2. Food and Beverage
  3. Power Generation
  4. Recycling and Scrap Handling
  5. Construction
  6. Supply chain
Company Profiles ContiTech AG Bridgestone Corporation The Yokohoma Rubber Co. Ltd. Fenner Group Holdings Ltd. Continental Belting Private Limited Elastomerik Belts Private Limited Sempertrans Conveyor Belt Solutions GmbH Siban Peosa SA Intralox, LLC Bando Chemical Industries, Ltd. Nitta Corporation All-State Belting, LLC Zhejiang Double Arrow Rubber Co. Ltd. MRF Limited I.G. Societa Italiana Gomma S.p.A.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

Innovation drives the conveyor belt market. The expansive applications of conveyor belts across a diverse range of industries demand innovations that cater to evolving needs and provide efficiency enhancements. Conveyor belt manufacturers are investing in new developments to capture larger shares and gain a competitive edge. Direct drive technology, active conveyor belts, and smart conveyor technology are a few such developments providing traction to the market.

Players are exploring the applications of IoT and AI for tracking the movement of goods and materials. Smart conveyor technology is one such product. It comprises a system of carts asynchronously and individually routed along the tracks and leverages advanced motion control technology for real-time programming.

Modern conveyor belts come with a monitoring system that aids the operator in identifying faults on the conveyor system whenever it is subjected to high loads. For instance, ContiTech, a subsidiary of Continental AG, has developed a monitoring system called Conti MultiProtect, which gives a detailed picture of the conveyor belts at any given time without breaking or interrupting the operations.

Market Size By Material

Top Key Players

ContiTech AG Bridgestone Corporation The Yokohoma Rubber Co. Ltd. Fenner Group Holdings Ltd. Continental Belting Private Limited Elastomerik Belts Private Limited Sempertrans Conveyor Belt Solutions GmbH Siban Peosa SA Intralox, LLC Bando Chemical Industries, Ltd. Nitta Corporation All-State Belting, LLC Zhejiang Double Arrow Rubber Co. Ltd. MRF Limited I.G. Societa Italiana Gomma S.p.A. Others

Frequently Asked Questions (FAQs)

What is the estimated growth rate (CAGR) of the Conveyor Belt Market?
Conveyor Belt Market size will grow at approx. CAGR of 4.2% during the forecast period.
Some of the top prominent players in Conveyor Belt Market are, ContiTech AG, Bridgestone Corporation,The Yokohoma Rubber Co. Ltd., Fenner Group Holdings Ltd., Continental Belting Private Limited, Elastomerik Belts Private Limited, Sempertrans Conveyor Belt Solutions GmbH, Siban Peosa SA, Intralox, LLC, Bando Chemical Industries, Ltd., Nitta Corporation, All-State Belting, LLC, Zhejiang Double Arrow Rubber Co. Ltd., MRF Limited, I.G. Societa Italiana Gomma S.p.A., etc.
In the Conveyor Belt Market, North America has established itself as the market leader with a significant market share.
The North America region is projected to exhibit the highest rate of growth in the Conveyor Belt Market.
The global Conveyor Belt Market report is segmented as follows: By Material, By Product, By Installation, By Application, By End-User


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