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Conveyor Belt Market Trends

Report ID: GMI3267
Published Date: May 2024
Report Format: PDF

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Conveyor Belt Market Trends

Innovation and sustainability are significant factors affecting the conveyor belt industry, spurring the development of new technologies, materials, and operational techniques. Conveyor belt manufacturers are focused on producing lightweight yet durable materials such as advanced composites and high-strength fibers. This saves energy during operation and increases the belt's lifetime. Sustainable conveyor belts frequently use recyclable materials, leading to a circular economy. Recyclability reduces waste and promotes environmental sustainability.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Market size for conveyor belt was USD 5.5 billion in 2023 and is expected to register 3.4% CAGR from 2024-2032 owing to the expanding mining, steel, cement, and convenience food & beverage sectors worldwide.

Conveyor belt industry from the polymer segment held 77% share in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to their wide range of applications in many end-user sectors as they offer exceptional tensile strength, and impact resistance.

Asia Pacific industry held 49% share in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the regions strong position in the mining, steel, cement, and food and beverage industries.

S.I.G. Societa Italiana Gomma S.p.A., Sempertrans Conveyor Belt Solutions GmbH, Siban Peosa SA, SumitomoRubber Industries, The Yokohama Rubber Co., Ltd., Yokohama Rubber Co.,Ltd., and Zhejiang Double Arrow Rubber Co., Ltd., are some of the major conveyor belt companies worldwide.