Yahoo Finance Conveyor Belt Global Market Report 2022
Major players in the conveyor belt market are 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, Bando Chemical Industries, Ltd.
New York, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Conveyor Belt Global Market Report 2022" - https://www.reportlinker.com/p06325444/?utm_source=GNW
, Siemens AG, Emerson Electric Co., Intelligrated, Daifuku Co. Ltd., Interroll Holding GmbH, Vanderlande Industries B.V., Fives, Swisslog, Forbo Holding Ltd., Taikisha Ltd.
The global conveyor belt market is expected to grow from $4.88 billion in 2021 to $5.16 billion in 2022 at a compound annual growth rate (CAGR) of 5.7%. The conveyor belt market is expected to grow to $5.96 billion in 2026 at a compound annual growth rate (CAGR) of 3.7%.
The conveyor belt market consists of the sale of conveyor belts by entities (organizations, sole traders, and partnerships) that are used to transport heavy and light objects of various sizes from one point to the other.A conveyer belt is a device made of a material, such as rubber, stretched across rotating rollers that propels it forward while also moving the object positioned on it.
Conveyor belts are extremely well-liked across many industries because they are highly adaptable, lightweight, and affordable. Automated distribution, warehousing, manufacturing, airports, production facilities, and others use conveyor belts.
The main types of conveyor belts are overhead, floor, roller, pallet, and crescent.The overhead conveyor belts operate above – or over – the heads of workers and other machinery.
Overhead conveyor belts increase transportation by using unused overhead space and a straight line of trollies or a revolving, endless loop of chain inside a rigid track.The chain/trollies are connected to members known as carriers who are in charge of handling the material and pulling the conveyed items with either manual labor or a motor.
The carriers and the track are efficiently designed into any desired shape, making them incredibly flexible in form and use.The installation types of conveyor belts include portable and stationary and they are made of metal and polymer materials.
The conveyor belts are suitable for lightweight, medium-weight, and heavyweight applications. The end-users of conveyor belts include mining, food and beverage, power generation, recycling, supply chain, general manufacturing, and other end-users.
Asia Pacific was the largest region in the conveyer belt market in 2021.Western Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in the conveyor belt market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The conveyor belt market research report is one of a series of new reports that provides conveyor belt market statistics, including conveyor belt industry global market size, regional shares, competitors with a conveyor belt market share, detailed conveyor belt market segments, market trends and opportunities, and any further data you may need to thrive in the conveyor belt industry. This conveyor belt market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
A surge in air passenger journeys will propel the growth of the conveyor belt market.Rapid growth in disposable income, living standards, and increasing availability of affordable air travel contributed to the surge in air passenger journeys across the globe.
The rapid growth in air passenger journeys is forcing governments to establish new airports, which is predicted to boost demand for conveyor belts, as they are an integral part of airports that helps to transport the luggage of the passenger from one location to another.For instance, according to a report published in May 2022 by International Civil Aviation Organization (ICAO), a UN agency and a global forum for civil aviation, the number of passengers carried by air climbed by 65% from January to April 2022 compared to January to April 2021, while the number of aircraft flight departures rose by 30%.
Hence, an increase in air passengers and air travel is expected to boost demand for conveyor belts during the forecast period.
Technological advancement is a key trend gaining popularity in the conveyor belt market.Manufacturers operating in the conveyor belt market are developing new technologies such as eco-friendly conveyor belts, direct drive motors, smart conveyors, vacuum conveyors, adjustable conveyors, and others to meet industry demands and strengthen their market position.
Eco-friendly conveyors securely move materials with little harm to the environment, reduce spillage, and protect the items from dust and harmful particles.For instance, in April 2022, BEUMER Group, a German-based manufacturer of intralogistics systems, launched an eco-friendly U-shaped conveyor belt.
The U-shaped conveyor makes port terminal operations effective and environmentally friendly.The design permits the implementation of larger mass flows than a pipe conveyor and narrower curve radii than a troughed belt conveyor, all with dust-free conveyance.
The idlers make the belt into a closed tube, shielding the material conveyed from outside forces and the environment from emissions like material loss, dust, or odors.
In April 2021, Fenner Dunlop, a UK-based manufacturer, and distributor of rubber conveyor belting for industrial purposes, acquired Technobalt for an undisclosed amount.The acquisition aims to strengthen Fenner’s position as a provider of highly specialized conveying products and expand in numerous applications such as waste management, mining, quarrying, energy, and paper industries.
Technobalt is an Estonia-based company involved in offering conveyor belts and related maintenance services.
The countries covered in the conveyor belt market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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