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Conveyor Belt Market Size By Material (Metal, Polymer [Polyester, Nylon]), By Product (Flat Belt, Modular Belt, Cleated Belt), By Installation (Portable, Stationary), By Application (Light-weight, Medium-weight, Heavy-weight), By End-use Sector (Mining, Food & Beverage, Power Generation, Recycling, Supply Chain, General Manufacturing), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027

  • Report ID: GMI3267
  • Base Year: 2020
  • Report Format: PDF

Industry Trends

Conveyor Belt Market size exceeded USD 3.64 billion in 2020 and is anticipated to grow at a CAGR of over 3.7% from 2021 to 2027. Growing economies and rapid industrialization in these economies will boost the market growth during the forecast period. Rising mining industry is primarily driving global industry. Also, rapid growth in warehouses and distribution centers for online merchants will augment the product demand.
 

Conveyor Belt Market Overview

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Numerous industries worldwide depends on supply of various minerals and commodities. Almost all end user industries requires well-functioning conveyor belt systems to transport goods from one location to another. Growing number of plants, warehouse and assembly lines will fuel the conveyor belt market expansion.
 

The rapid urbanization & infrastructure development projects in China and the Indian government’s initiatives such as the development of 100 smart cities and metro projects will upscale the demand for cement in the coming years. The escalating building & construction activities all over the world will stimulate the growth of the cement industry during the forecast period. The conveyor belt market has a prominent future due to the positive outlook of the cement sector.
 

Food & beverage sector is among the fastest growing end user industry attributed to rapidly rising population and growing demand of packaged food. Demand of convenience foods is increasing owing to increasing working class in developing nations. Rising per capita income and thriving culture of take-out food will foster food & beverage industry. Conveyor systems are used to carry food items through various sections and through the ovens, chilling stations & packaging sections. Product is increasingly used in food & beverage plants to propel the production. Increasing food & beverage production facilities around the world will accelerate the industry growth. 
 

The COVID-19 pandemic has disrupted the business process functions of several industries across the globe. Lockdown enforced in several countries to prevent the spread of COVID-19 is expected to have an adverse impact on several end-user industries. The exponential rise in positive COVID-19 cases in APAC countries is slated to have adverse impacts on the second quarter of 2020. The industry may also require up to two years to regain its previous growth rate.
 

Conveyor belts need to be properly maintained or it can lead to a partial or total shutdown. However, periodic audits and inspection checks will reduce the maintenance and repair cost over the long run. The market may witness some challenges in coming years credited to global economic slowdown and decrease in production volume. 
 

Polymer conveyor belt will remain dominant segment

The polymer material segment in the conveyor belt market is poised to reach USD 4.5 billion by 2027. Polymer belts are most commonly used among the end user industries. Polymer belts are versatile can be used in array of end user industries. Polyester belts holds largest share among all polymer materials. EP belts provides extremely low moisture absorption, good dimensional stability. These features make it suitable for all type of applications in industries such as concrete plants, mineral processing plants, waste sorting and compost machines, etc. Polymer belts are ideal for transporting materials which are light in weight and within a facility or manufacturing plant. Increasing demand of better and fast material handling solutions will give an up thrust to demand of product in coming years.
 

Modular belts to grow with highest CAGR

  Conveyor Belt Market Size

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The modular conveyor belt market will generate a demand of around 5.3 million square meters by 2027. Modular conveyor belt uses a single loop made of several interlocked pieces, usually made of rigid plastics. These segments can be removed and replaced individually, in contrast to having to discard the entire belt. Modular conveyor belts allows design flexibility, they are easier to wash and more resistant to sharp and abrasive materials. Modular belts are much simpler to maintain and repair compared to other belt types. Modular belts can handle corners, incline and decline as well as they can travel straight.
 

Stationary installation will be preffered by end user industries

Stationary conveyor belt market is predicted to showcase 3.5% growth rate through 2027. These are widely used in mining, food & beverage, general manufacturing, recycling, supply chain, power generation, etc. to transport wide variety of bulk materials over short and long distances in a cost-effective manner. Stationary systems have stable performance, low cost and can convey wide variety of materials. With growth in e-commerce sector demand of stationary conveyor belt systems will increase significantly in the coming years.
 

Construction and mining sector will influence medium weight segment growth  

Medium weight belt segment is projected to dominate 45% of the conveyor belt market share by 2027. Medium weight belts carry heavy loads for longer period of time. These belts are very well suited for construction, mining and other heavy industries due to its sturdiness and durability. These belts are made from polyester and steel cords in order to carry heavier loads for longer durations. Construction and mining industry is observing monumental growth around the world specifically in Asian countries such as China.
 

Rising manufacturing sector in Asian & African countries will spur the market value

 Conveyor Belt Market Share

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General manufacturing segment in the conveyor belt market is estimated to attain a CAGR of 3.5% till 2027. Developing nations in Asia and Africa region are witnessing very strong growth in their manufacturing sector. Most of the multi-national organizations across sectors are opening manufacturing facility in developing part of the world to tap the growing business opportunity. These manufacturing facilities requires well-functioning conveyor belt systems to transport goods & materials across plants or locations. Rising number of such plants will mainly impel the product demand during the forecast timeframe.
 

APAC region to dominate the market revenue

Global Conveyor Belt Market  

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Asia Pacific conveyor belt market is set to account for 55% of revenue by 2027. Region has thriving end user industries along with rapidly growing economies which will drive the market progression over the forecast period. Most of the minerals in the world are mined in the APAC region and further growth in mining industry will generate significant demand in the coming years.
 

Adding product lines will increase market reach of companies

The Major players involved in the conveyor belt market are ContiTech AG, Bridgestone Corporation, The Yokohoma Rubber Co., Ltd., Elastomerik Belts Private Limited, Intralox, L.L.C., among others. Market participants are adding new product lines to increase their share in as well as reach. Opening new product lines in new territory/ region enables market leaders to serve their customer efficiently.
 

The conveyor belt market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume thousand square meters and revenue in USD million from 2017 to 2027 for the following segments:

Market, By Material

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

Market, By Product

  • Flat belt
  • Modular belt
  • Cleated belt

Market, By Installation

  • Portable
  • Stationary

Market, By Application

  • Light weight
  • Medium weight
  • Heavy weight

Market, By End-User

  • Mining
  • Food & beverage
  • Power generation
  • Recycling
  • Supply chain
  • General manufacturing
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Kuwait
       
Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

Market size of conveyor belt exceeded USD 3.45 billion in 2020 and is anticipated to record a CAGR of 3.5% between 2021 and 2027 with rapid industrialization in expanding economies.

Polymer material segment is expected to surpass USD 4.5 billion through 2027 owing to rising product usage in a range of end-user industries.

Stationary conveyor belt market size will witness a CAGR of 3.5% up to 2027 driven by the surging product deployment in general manufacturing, mining, supply chain, food & beverage, power generation, and other industries.

Asia Pacific market revenue will account for more than 55% of the overall industry revenue by 2027 considering the rapidly growing economies in the region.

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Premium Report Details

  • Published Date: Dec 2021
  • Companies covered: 16
  • Tables & Figures: 449
  • Countries covered: 21
  • Pages: 300

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