Conveyor Belt Market

Conveyor Belt Market Size

The global conveyor belt market was estimated at USD 5.7 billion in 2024 and is expected to reach USD 8.2 billion by 2034, growing at a CAGR of 4.3% from 2025 to 2034. The growing activities in the mining, steel, cement, and ready-made food & drink industries. As the demand for mining minerals and metals and other natural resources increases, there is a greater supply for mining activities. Wanting to increase the productivity of mining processes, conveyor belts are being increasingly used in mines, which, in turn, is fostering growth in industry. Furthermore, the steel and cement industries are witnessing a rising demand for use in buildings & infrastructure, mechanical equipment, and automotive products.

Conveyor belts are used to transport crushed limestone blocks, ores, coke, pallets, and rocks up to furnaces that are located at steep angles and for other heavy-duty chip-handling applications in steel manufacturing plants. As a result, The adoption of conveyor belts will be boosted by the increasing demand for steel. The World Steel Association reports that the global iron and steel market was valued at USD 1,599.4 billion in 2022 and is expected to reach USD 1,928.6 billion by 2027 which suggests a CAGR of 3.8%.

Furthermore, China's rapid urbanization and infrastructure development projects, as well as the Indian government's efforts, such as the construction of 100 smart cities and metro projects, will drive the demand for cement in the future. Over the projection period, the cement sector will benefit from increased building and construction activity around the world, boosting market growth.

The adoption of conveyor belts in different industry is usually obstructed by severe barriers like the need for high investments to set up the production units and take care of maintenance costs. These economic challenges result into some organizations not adapting to the conveyor belt systems which lowers the adoption rate. Setting up a facility for manufacturing conveyor belts requires infrastructure development, procurement of machines, and investment in technology. Many firms, especially small companies or firms in developing countries, find it difficult to invest such huge sums of money.

Conveyor Belt Market Trends

• The expansion of the market can be linked to heightened development of new airports alongside an increasing degree of need and attainment regarding the traffic of air passengers. The operational construction for China’s Daxing Beijing International Airport has been estimated to be completed within 2019 and is currently ongoing. This new airport is planning to operate with seven runways, servicing 620 thousand flights and roughly 100 million passengers annually. This is expected to increase the demand for the conveyor belt within the airport industry. The building of the new airport alone is projected to trigger a growth in demand for airport industry conveyor belts.
  
• Moreover, the emergence of new technologies and devices in manufacturing, mining, and logistics continue to enhance the level of automation and act as the key driving factors that dictate change in the fast-evolving environment. The increased focus on safety, swimming alongside the decreased optimism regarding the safety of these automatic devices, has resulted in higher demand for robust solutions to material handling. The improvement of belt materials, intelligent monitoring devices, and multi-functional frameworks guarantees the enterprise of the conveyor belt industry. Its growth won’t just be favorable for out of the box thinkers’ venturers, but for the rest as well.
  

Conveyor Belt Market Analysis

Based on material, the market is segmented as metal, polymer, polyester, nylon and others. In 2024, the polymer segment generated a revenue of USD 4.4 billion and is expected to grow at a CAGR of around 4.5% during 2025 to 2034.

• The polymer sector of the conveyor belt industry is led by products such as rubber, PVC, polyurethane, and thermoplastic elastomers (TPE), which are selected based on their strength, flexibility, and performance in a wide range of industries. Rubber belts are used for heavy-duty operations in industries such as mining and construction because of their strength and resistance to abrasion.
  
• Moreover, PVC belts are commonly applied to lighter applications, for example, food processing and packaging, because they are chemical resistant and easy to maintain. Polyurethane belts are prized for their low friction and durability, which is perfect for automotive and logistics, while TPE belts have good elasticity and wear resistance, perfect for delicate industries like food processing. As industrial development gains momentum, demand for high-performance polymer-based conveyor belts grows.
  

Based on Product, the conveyor belt market is segmented as Flat belt, Modular belt and Cleated belt. In 2024, the flat belt segment accounted for over 73.2% revenue share and is expected to grow at CAGR of 4.3% till 2034.

• Flat belt conveyors are adaptable and find applications in many industries such as manufacturing, packaging, food processing, and logistics. Their adaptability with different materials and product types makes them widely used. Flat conveyor belts consist of a system of powered pulleys and idlers that can accommodate a variety of objects at up to a 16° incline.
  

Based on applications, the conveyor belt market is segmented as lightweight, medium-weight, and heavy-weight. The medium-weight segment was valued at 2.5 billion in 2024 and is expected to grow at a CAGR of 4.5% from 2024 to 2032.

• Medium-weight belts are majorly used in mining, cement manufacturing, steel manufacturing, recycling plants, and foundries. Also, the increasing per capita income has fueled the demand for automobiles and white goods, which will propel general manufacturing businesses around the world, boosting the demand for medium-weight conveyor belts in the near future.
  

• In 2024, North America dominated the conveyor belts market with accounting to around 34% of the revenue share and generated around USD 1.04 billion revenue in the same year owing to Growing usage of conveyor systems in numerous industries to move products and boost overall productivity, technological advancements in belt material and construction, and widespread presence of top manufacturers are some of the most influential factors for business growth. Sectors such as manufacturing and the automobile industry are experiencing a high degree of growth throughout the United States based on a rise in relative consumption of products by end-users.
  
• In Asia Pacific  China is leading the market growth of  conveyor belts. This is due to the region’s strong position in the mining, steel, cement, and food and beverage industries. The region accounts for over half of global mining production and is expected to expand rapidly as the demand for various minerals rises and supportive investments increase. China and India are the world's major manufacturers of steel and cement, which are required for infrastructure development plans and future commercial & residential construction. Furthermore, rising disposable income and hectic lifestyles will increase the consumption of packaged food products, propelling the demand for conveyor belts in the food & beverage industry.
  
• Germany led the Europe conveyor belt industry, owing to its considerable presence in the manufacturing and supply chain sectors. Furthermore, increased investment in the country is projected to augment the growth rate in Germany's conveyor belt.
  

Conveyor Belt Market Share

• The top 5 companies in the conveyor belt industry are All-State Belting, LLC, Ammega Italia Spa, Ammeraal Beltech, Bando Chemical Industries, Ltd., and Bridgestone Corporation, which together have a large market share.
  
• The firms are constantly investing in product innovations and R&D to stay ahead of the game. For instance, Ammega Italia Spa is driven to increase its product offerings by employing cutting-edge materials and technology to improve belt performance and respond to changing industry demands.
  
• Some players in the market are emphasizing sustainable and green solutions in order to maintain a competitive edge. Bridgestone Corporation, for example, has been working to create more sustainable and eco-friendly conveyor belts in order to decrease waste and energy usage in some industrial processes.
  
• Furthermore, Bando Chemical Industries, Ltd. is highlighting belt manufacturing with higher energy efficiency and less environmental footprint, as part of the worldwide effort towards sustainability.
  

Conveyor Belt Market Companies

Major players operating in the conveyor belt industry include:

• All-State Belting, LLC
• Ammega Italia Spa
• Bando Chemical Industries, Ltd.
• Bridgestone Corporation
• Continental Belting Private Limited
• ContiTech AG
• Elastomerik Belts Private Limited
• Fenner Dunlop
• Fenner Group Holdings Ltd
• Forbo Holding Ltd.
• Intralox, L.L.C.
• MRF Limited
• Nitta Corporation
• S.I.G. Societa Italiana Gomma S.p.A.
• Sempertrans Conveyor Belt Solutions GmbH
• Siban Peosa SA
• Yokohama Rubber Co., Ltd.
• Zhejiang Double Arrow Rubber Co., Ltd.
  

The market is consolidated, with prominent players such as Bridgestone Corporation, ContiTech AG, Intralox, L.L.C., Fenner Dunlop, Sumitomo Rubber Industries. Manufacturers are adopting strategic steps, such as mergers, acquisitions, partnerships, and collaborations, to consolidate their market position and meet the growing consumer demand.

Conveyor Belt Industry News

• In January 2023, Power, LLC acquired Dunham Rubber & Belting Corporation. This acquisition helped the company cater to the requirements of the food processing, material handling, building products, pharmaceutical, and general industrial markets.
  
• In July 2022, Continental AG acquired WCCO Belting, Inc., a belting manufacturer based in the U.S. This acquisition helped the company strengthen its conveyor solutions for the agricultural sector.
  
• In April 2021, Marubeni Corporation acquired Remacan Industries Inc., which operates a conveyor belt distribution business in Ontario, Canada, through Marubeni’s subsidiary, Belterra Corporation.
  

The conveyor belt market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Thousand Units) from 2021 to 2034, for the following segments:

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Market, By Material

• Metal
• Polymer
  • Polyester
  • Nylon
  • Others
• Others

Market, By Product type

• Flat belt
• Modular belt
• Cleated belt

Market, By Installation

• Portable
• Stationary

Market, By Application

• Lightweight
• Medium-weight
• Heavy weight

Market, By End-Use

• Mining
• Food & beverage
  • Pre-processing
  • Bottling/Packaging
  • Labelling
  • Others
• Power generation
• Recycling
• Supply chain
• General manufacturing
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Portugal
  • Romania
  • Switzerland
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa