The global conveyor belt market is projected to witness a growth rate of 5.9% annually from 2023 to 2028, with an anticipated size of US$ 5.7 billion by 2028, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global conveyor belt market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
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Market Size in 2028 (billion US$) |
5.7 |
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Growth (CAGR) |
5.9% during 2023-2028 |
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Forecast Period |
2023-2028 |
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Trend Period |
2017-2021 |
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Base Year |
2022 |
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Number of Segments Covered |
5 |
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Number of Tables & Graphs |
100+ |
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Country-Level Market Assessment |
20 |
Segment Insights on the Conveyor Belt Market:
The global conveyor belt market is segmented based on belt type, product type, weight type, end-use industry type, and region.
Based on belt type – The market is segmented into textile-reinforced belts, steel cord belts, and others. The textile-reinforced belt is expected to remain the largest as well as the fastest-growing belt type in the market during the forecast period, mainly driven by its lower cost. Textile reinforcements are ideal for use in most applications because they offer a good balance of cost and strength.
Based on product type – The market is segmented into flat belts, modular belts, cleated belts, and others. Flat belt is expected to remain the dominant product type in the market during the forecast period. Flat belts are the best viable option for many industrial applications. They are used to transport lighter products, such as consumer goods and food items, as well as medium- to heavy-weight materials in mining, quarrying, cement making, stone crushing, etc.
Based on weight type – The market is segmented into lightweight, medium-weight, and heavy-weight belts. The medium-weight belt is expected to remain the dominant weight type in the market during the forecast period, owing to its wider usage in various end-use industries. Medium-weight belts can be used in various applications as they can sustain heavy weights with fewer complications.
Based on end-use industry type – The market is segmented into mining, general manufacturing, food & beverage, construction & aggregates, power generation, and others. Mining is expected to remain the biggest demand generator of conveyor belts during the forecast period, owing to the wide usage of conveyor belt mechanisms in the mining industry.
On the other hand, the sales of rubber conveyor belts are likely to increase as a result of the expected rise in mining activities, which are mostly due to ongoing economic expansion in developing nations. Conveyor belts are widely used in coal-fired power stations, therefore a global transition away from these facilities will reduce chances for new demand. Some industrialized nations want to entirely stop using coal as a source of energy, which is again a major barrier for this market segment in those nations.
To know the most attractive segments, click here for a free sample of the report:
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the largest market for conveyor belts during the forecast period. This growth outlook is majorly attributed to the following–
Conveyor Belt Market Drivers:
Some of the key drivers listed in the report are given below.
Top 10 Companies in the Conveyor Belt Market:
Stratview Research has identified the following companies as the top market players (arranged alphabetically).
What Deliverables Will You Get in this Report?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth analysis of the Conveyor Belt Market |
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How lucrative is the future? |
Market forecast and trend data and emerging trends |
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Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts |
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Which are the most attractive market segments? |
Market segment analysis and forecast |
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Who are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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What are the factors affecting the market? |
Drivers & challenges |
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Will I get the information on my specific requirements? |
10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - [email protected]
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About us –
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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