Conveyor Belts Market is Expected to Surpass a Valuation of US$ 12.9 Bn by 2031 End

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Conveyor Belts market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Conveyor Belts

The report offers actionable and valuable market insights of Conveyor Belts. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Conveyor Belts Market across various industries and regions.

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This newly published and insightful report sheds light on Market Insights of Conveyor Belts, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Conveyor Belts Market.

The global Conveyor Belts market was valued at ~US$ 12.1 Bn in 2019 and is anticipated to surpass US$ 12.9 Bn during the forecast period 2020-2030. The market is slated on a course of sluggish growth at 2.9%. The manufacturing sector has witnessed a paradigm shift with the implementation of Industry 4.0 technologies across various industrial sectors.

With the growing trend of automation, manufacturing units have implemented Industry 4.0 standards to reduce machine downtime, reduce labor inefficiencies, enhance production, reduce ROI (return on investment), and more importantly achieve high quality manufacturing.

Growth prospects were downplayed with the outbreak of the coronavirus pandemic, as supply chain dynamics experienced significant disruptions, most of which resurfaced amidst the outbreak of the second wave in most countries.   Thus, considering these factors, the market for Conveyor Belts is projected to witness growth over the coming years, registering a 2.9% CAGR and surpassing US$ 12.9 Bn by the end of 2031. 

The COVID-19 crisis has caused unprecedented uncertainty, leading to a major slowdown. The manufacturing of automobiles, industrial equipment and food & beverages has come to a standstill due to stringent lockdowns imposed by governments. Despite this panic buying by consumers is coaxing manufacturers to increase their warehouse space, which is expected to accelerate demand for Conveyor Belts.

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Key Segments of the Conveyor Belts Market

Fact.MR’s study on the Conveyor Belts market offers information divided into four key segments— product, operation, capacity type, end use, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Product

Belt Conveyor
Roller Conveyor
Pallet Conveyor
Overhead Conveyor
Tri-Planar Conveyor
Crescent Conveyor
Skid Conveyor
Trailer Conveyor
Others

Operation

Manual
Semi-Automatic
Automatic

Capacity Type

Unit Handling
Bulk Handling

End Use

Packaging & Warehouse Distribution
Textile & Paper
Construction & Mining
Automotive & Transportation
Consumer Electronics
Food & Beverages
Chemicals & Pharmaceuticals

Region

North America
Latin America
Europe
East Asia
South Asia
Middle East & Africa (MEA)
Oceania

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Competitive Landscape
The global Conveyor Belts market is highly competitive in nature. Leading players are adopting strategic acquisitions in order to maintain their position in the market. 

Leading market players are focusing their efforts on developing innovative products to strengthen their position in the global market. 

In September 2020, Austrian Post announced that it has selected Fives to automate a new distribution center in Vomp. The new solution comprises Fives’ proprietary technologies such as the GENI-Belt cross-belt sorter, GENI-Feed induction lines, and a singulator, handling 7,000 parcels per hour.

In February 2021, Daifuku Co. Ltd. announced the signing of an agreement with Germany-based AFT Industries AG to collaborate on a project-by-project basis by utilizing AFT’s automotive customer base and technologies and Daifuku’s extensive global network, to provide a better offering to customers in the automotive domain which includes automated Conveyor Belts.

Key Takeaways of Conveyor Belts Market Study:

The global Conveyor Belts market is projected to create an absolute $ opportunity of more than ~US$ 3.1 Bn and is anticipated to grow at a value CAGR of 2.9% during the forecast period.

By product, Conveyor Belts are projected to grow at a value CAGR of 2.7%, and will be valued 1.6X more than roller conveyors by the end of 2020.

East Asia is expected to emerge as the fastest growing Conveyor Belts market and is projected to surpass a market valuation of ~US$ 2.6 Bn by the end of 2030.

Packaging & Warehouse Distribution is projected to grow at a value CAGR of ~3.5% and is expected to create an absolute value opportunity of US$ 973.2 million.

“The demand for Conveyor Belts is likely to be impacted in the first three quarters of 2020, owing to slowdown of manufacturing and production amid the COVID-19 pandemic. The demand for Conveyor Belts is currently resting on the growth of the e-commerce industry and consequent expansion of warehousing which is anticipated to boost growth of the market during forecast period” says the Fact.MR analyst.

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More Valuable Insights on Conveyor Belts Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Conveyor Belts, Sales and Demand of Conveyor Belts, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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