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IMARC Group, a leading market research company, has recently releases report titled “Conveyor Belt Market Report by Type (Medium-Weight Conveyor Belt, Light-Weight Conveyor Belt, Heavy-Weight Conveyor Belt), End-Use (Mining and Metallurgy, Manufacturing, Chemicals, Oils and Gases, Aviation, and Others), and Region 2024-2032.” The study provides a detailed analysis of the industry, including the global conveyor belt market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the conveyor belt market?
The global conveyor belt market size reached US$ 6.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.7 Billion by 2032, exhibiting a growth rate (CAGR) of 2.7% during 2024-2032.
What is the conveyor belt?
A conveyor belt is a mechanical apparatus used in various industries for the automated transportation of goods, materials, or products from one point to another. It consists of a continuous loop of material, typically produced of rubber, polyvinyl chloride (PVC), and other sturdy materials, that rotates around two or more pulleys. The pulleys are powered, often by electric motors, causing the belt to move, and items placed on the belt are carried along with it. It is highly versatile and finds applications in manufacturing, logistics, distribution centers, airports, and grocery stores. It is available in various designs to suit several needs, such as flat belts for general transport, inclined belts for elevating materials, and curved belts for navigating corners. Additionally, conveyor belts offer efficiency and consistency in moving items, which reduces the need for manual labor and ensures a steady flow of goods, which enhances productivity and minimizes the risk of accidents associated with heavy lifting and manual handling.
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What are the growth prospects and trends in the conveyor belt industry?
The conveyor belt market is primarily driven by the widespread adoption of automation in various industries. In addition, the rising demand for conveyor belts in automated material handling processes, manual labor, and enhancing overall efficiency in manufacturing facilities, warehouses, and distribution centers are influencing the market growth. Moreover, several technological advancements led to the development of more reliable and efficient conveyor belt systems, representing another major growth-inducing factor. Also, sensors, automation software, and predictive maintenance technologies are improving the performance and longevity of these systems, making them even more appealing to businesses, propelling market growth. Besides this, the growing e-commerce activities led to escalating demand for conveyor belts in fulfillment centers and warehouses for sorting and transporting packages efficiently to meet online shoppers' expectations for fast delivery, accelerating the market growth. Along with this, conveyor belts are versatile and can be customized to suit various industries, from food and beverage (F&B) to mining and automotive, to recognize the benefits of conveyor systems in streamlining their operations, augmenting the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
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Who are the key players operating in the industry?
The report covers the major market players including:
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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