Global Conveyor Belt Market to hit USD 5 Bn by 2026: Global Market Insights, Inc.
Some of the major conveyor belt market players include Bando Chemicals, Zhejiang Double Arrow Rubber, ContiTech AG, Fenner DunlopForbo, Nitta Corporation, Bridgestone Corporation, Ammeraal Beltech, The Yokohama Rubber and Sempertrans.
Selbyville, Delaware, Dec. 22, 2020 (GLOBE NEWSWIRE) --Global Market Insights, Inc. has recently added a new report on conveyor belt market which estimates the global market valuation for conveyor belt will cross US$ 5 billion by 2026. The growing demand from general manufacturing sector will boost the market revenue in the coming years
Due to the ongoing pandemic, the conveyor belt market revenue has seen a major dip, in terms of both revenue & volume, owing to the shutdown of various manufacturing and mining sites. The COVID-19 pandemic has changed the normal functioning of every industrial sphere, ranging from power generation to general manufacturing. Demand from the mining industry has seen a major downfall in the first & second quarters of 2020. The enforcement of lockdowns across the globe had a major impact in the mining industry, in turn, affecting the overall conveyor belt market. The global conveyor belt industry is projected to exhibit a downward trend of over 11% in 2020.
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Conveyor belts are used in various food processing and packaging applications such as confectionary, bakery, snacks, dairy, fish, fruit & vegetables, etc. These belts are FDA-approved, providing safety to food items and excellent resistance against fats, oils, and chemical agents. These belts can transport food & beverage products from one workstation to another efficiently without degrading their quality and also move products through the oven & chilling sections in the industry.
The food & beverage sector will witness promising growth trends during the forecast period owing to rising population and increasing disposable income. Consumer lifestyle dynamics are changing due to urbanization, creating an impact on food & beverage purchase decisions. People prefer to buy convenience or processed food due to the lack of time.
Supply chain and power generation are end-user industries which are anticipated to hold a market share of over 4% and 11% respectively in 2026. In the power generation industry, conveyor belts are widely used in the transportation of coal to and from storage sites. The growing demand for electricity across the globe is anticipated to generate substantial revenue gains to the segment throughout the assessment period.
The other end-users segment mainly includes aviation, ports, construction, etc. In aviation, conveyor belts are widely used in baggage handling, screening & detection systems, and aircraft loading & unloading systems. Conveyor belts are used for loading, transportation, and unloading of heavy-duty materials in cargo ships. Due to continuous increase in the number of passengers, the aviation industry shows promising future prospects. Escalating global import and export activities will increase freight handling at ports, thus facilitating the conveyor belt market growth. The construction sector also employs portable conveyor systems to carry construction materials to upper levels with ease.
Browse key industry insights spread across 312 pages with 418 market data tables & 28 figures & charts from the report, *“Conveyor Belt Market Share & Forecast, 2020 – 2026”* in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/conveyor-belt-market
Major players operating in the market use various strategies to capture a larger share. For instance, in August 2015, Bridgestone Corporation initiated the production of conveyor belts at its Thailand manufacturing facility to expand its production capacity to meet the expanding customer base demand in Asia Pacific.
*Some of the major findings in the conveyor belt market report include:*
· The market is highly fragmented and has a low-to-medium level of entry barriers for new entrants.· The mining segment is the most prominent end-user segment in the conveyor belt market.· The polymer segment was the largest material segment in 2019 and will hold a market share of close to 80% in 2026.· The major market players include Bando Chemicals, Zhejiang Double Arrow Rubber, ContiTech AG, Fenner DunlopForbo, Nitta Corporation, Bridgestone Corporation, Ammeraal Beltech, The Yokohama Rubber, and Sempertrans.
*Browse complete reports table of contents (ToC): *https://www.gminsights.com/toc/detail/conveyor-belt-market
*Partial chapters of report table of contents (TOC):*
*Chapter 2 Executive Summary*
2.1 Conveyor belt industry 3600 synopsis, 2016 – 2026
2.1.1 Business trends
2.1.2 Material trends
2.1.3 Product trends
2.1.4 Installation trends
2.1.5 Application trends
2.1.6 End-use trends
2.1.7 Regional trends
*Chapter 3 Conveyor Belt Industry Insights*
3.1 Industry segmentation
3.2 Industry size and forecast, 2016 – 2026
3.2.1 COVID-19 impact on Industry Size
3.3 Industry ecosystem analysis
3.3.1 Profit margin analysis
3.3.2 Value addition at each stage
3.3.3 Distributor channel analysis
3.3.4 Vendor matrix
3.3.4.1 List of key manufacturers/suppliers
3.3.4.2 List of key/potential customers
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Technology landscape
3.4.3 Future trends
3.5 Industry impact forces
*3.5.1 Growth drivers*
3.5.1.1 Growth in the mining industry
3.5.1.2 Growth in steel and cement industry
3.5.1.3 Growth in the convenience food & beverage sector
3.5.2 Industry pitfalls & challenges
3.5.2.1 High capital investment for setting manufacturing facility and conveyor belt maintenance costs
3.6 Regulatory landscape
3.7 Growth potential analysis
3.8 Competitive landscape, 2019
3.8.1 Company market share, 2019
3.8.2 Brand analysis
3.8.3 Key stakeholders
3.8.4 Strategy dashboard
3.9 Porter’s analysis
3.9.1 Buyer’s power
3.9.2 Supplier’s power
3.9.3 Threat of substitutes
3.9.4 Threat of new entrants
3.9.5 Degree of competition
3.10 Regional price trends
3.10.1 COVID-19 impact on regional price trends
3.10.2 Cost structure analysis
3.10.2.1 R&D cost
3.10.2.2 Manufacturing & equipment cost
3.10.2.3 Raw material cost
3.10.2.4 Distribution cost
3.10.2.5 Operating cost
3.10.2.6 Miscellaneous cost
3.11 PESTEL analysis
3.12 COVID-19 impact on conveyor belt demand by end user
*Browse related report:*
*Material Handling Equipment Market* Size By Product (Storage & Handling Equipment [Racks, Stacking Frames, Shelves, Bins & Drawers, Mezzanines], Industrial Trucks [Automated Guided Vehicles (AGVs), Hand, Platform & Pallet Trucks, Order Pickers, Pallet Jacks, Side-Loaders, Walkie Stackers], Bulk Material Handling Equipment [Conveyor belts, Stackers, Reclaimers, Elevators], Robotics, Automated Storage & Retrieval System (AS/RS) [Unit-Load AS/RS, Mini-Load AS/RS]), By Application (3PL, E-Commerce, Durable Manufacturing, Food & Beverage, General Merchandise, Food Retail), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/material-handling-equipment-market
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