2024 Conveyor Belt Market Analysis: Market Size, Key Drivers, and Segment Insights
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
What Will Be the Growth Trajectory of the Conveyor Belt Market from 2024 to 2033?
The size of the conveyor belt market has consistently seen growth over the past few years. The rise in value is projected from $5.38 billion in 2023 to $5.61 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 4.2%. Factors contributing to this growth during the historical period include industrialization, the growth of the mining industry, the expansion of automated manufacturing, an increase in the food and beverage industry, escalating global trade, and improved efficiency in agriculture.
In the upcoming years, the conveyor belt market size is anticipated to experience consistent growth, expanding to a worth of $6.74 billion in 2028 with a compound annual growth rate (CAGR) of 4.7%. The projected growth during the forecast period can be credited to factors such as renewable energy projects, emphasis on sustainability, intelligent conveyor systems, urbanization and infrastructural requirements, and the need for e-commerce fulfilment centers. Some of the key trends expected in the forecast period include the development of advanced conveyor belt materials, smart systems for conveyor monitoring, lightweight and modular belts, the incorporation of automation and robotics in conveyor systems, initiatives to recycle conveyor belts, and customization to meet specific industry needs.
Claim Your Free Sample of the Global Conveyor Belt Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=7221&type=smp
What Are the Primary Growth Drivers for the conveyor belt Market?
Escalating numbers of air travelers are predicted to stimulate the conveyor belt market’s growth. With an uptick in disposable income, enhanced living standards, and more affordable air travel options, there has been a global increase in air travelers. This, in turn, has placed pressure on governments to craft new airports, subsequently enhancing conveyor belts’ demand, an essential component in luggage transportation at airports. Citing a report from the International Civil Aviation Organization (ICAO) in May 2022, the number of air passengers soared by 65% from January to April 2022, in comparison to the same period of 2021, while flight departures also saw a 30% jump. Consequently, the growing count of air travelers and flights is expected to spur the requirement for conveyor belts in the upcoming period.
What Are the Defining Segments of the Conveyor Belt Market?
1) By Type: Overhead, Floor, Roller, Pallet, Crescent
2) By Installation: Portable, Stationary
3) By Material: Metal, Polymer
4) By Application: Light Weight, Medium Weight, Heavy Weight
5) By End-User: Mining, Food and Beverage, Power Generation, Recycling, Supply Chain, General Manufacturing, Other End-Users
What Trends Are Revolutionizing Standards in the Conveyor Belt Market?
The rise of technological innovations is a notable trend in the conveyor belt market. Producers in this market are launching new technologies like eco-friendly conveyor belts, adjustable conveyors, smart conveyors, vacuum conveyors, direct drive motors, among others, to cater to industry needs and consolidate their market footprint. Eco-friendly conveyors assist in moving materials with minimal environmental impact, decreasing spillage, and protecting things from dust and harmful particles. For instance, BEUMER Group, a Germany-based intralogistics systems producer, unveiled a U-shaped eco-friendly conveyor belt in April 2022. The U-shaped conveyor enhances port terminal operations while being environmentally conscious. The design allows for handling higher mass flows compared to a pipe conveyor and tighter curve radii in contrast to a troughed belt conveyor, all with dust-free conveyance. The idlers shape the belt into a closed tube, safeguarding the transported material from external threats and the environment from pollutants like dust, odors, or material loss.
Order Now for Fast Delivery of Your Conveyor Belt Market Report!
https://www.thebusinessresearchcompany.com/report/conveyor-belt-global-market-report
What Regions Are Propelling Growth in the Conveyor Belt Industry?
Asia-Pacific was the largest region in the conveyor belt market in 2023. 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, Africa.
The Conveyor Belt Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the conveyor belt market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Conveyor Belt Market Include
1. Conveyor Belt Market Executive Summary
2. Conveyor Belt Market Segments
3. Conveyor Belt Market Size And Template Market Growth Rate
4. Key Conveyor Belt Market Trends
5. Major Conveyor Belt Market Drivers
……
25. Key Mergers And Acquisitions In The Conveyor Belt Market
26. Top Conveyor Belt Companies
27. Conveyor Belt Market Opportunities And Strategies
28. Conveyor Belt Market, Conclusions And Recommendations
29. Appendix
Discover Related Reports by The Business Research Company:
Management Consulting Services Global Market Report 2024
Hydrogen Powered Transport Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/hydrogenpowered-transport-global-market-report
Mobility Aids And Transportation Equipment Global Market Report 2024
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
