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Conveyor Belt Market - By Material (Metal, Polymer (Polyester, Nylon, Others), Others), By Product Type (Flat Belt, Modular Belt, Cleated Belt), By Installation (Portable, Stationary), By Application, By End Use & Forecast, 2024 – 2032

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

Conveyor Belt Market Size

Conveyor Belt Market was valued at USD 5.5 billion in 2023 and is anticipated to register a CAGR of 3.4% between 2024 and 2032. The growth can be attributed to the expanding mining, steel, cement, and convenience food & beverage sectors.

Conveyor Belt Market

As the global demand for minerals, metals, and other natural resources grows, mining operations increase to supply that demand. Conveyor belts enhance the efficiency and productivity of mining processes and have become an essential component of the industry's growth. 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 rising demand for steel will boost the adoption of conveyor belts. According to the World Steel Association, 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, indicating 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 the conveyor belt market growth.

Conveyor belt adoption in various industries is frequently hampered by significant barriers such as the high initial investment required to establish production facilities and ongoing maintenance expenses. These financial difficulties discourage some organizations from fully embracing conveyor belt systems, affecting the overall adoption rate. Establishing a conveyor belt manufacturing facility requires investment in infrastructure, machines, and technology. Many organizations, particularly smaller enterprises or those in emerging countries, may struggle to allocate this significant amount of capital.

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.

Conveyor Belt Market Analysis

Conveyor Belt Market Size, By Material, 2021 - 2032 (USD Billion)

Based on material, the market is categorized into metal, polymer (polyester, nylon, others), and others. The polymer segment dominated the market with a share of 77% in 2023. It is further classified into polyester, nylon, and others, and is expected to reach 6.07 billion by 2032. The rising demand for polymer conveyor belts is attributed to their wide range of applications in many end-user sectors as they offer exceptional tensile strength, and impact resistance. Polymer conveyor belts are less expensive than metal versions, making them an appealing option for businesses where cost is a major factor. This affordability can reduce total costs of conveyor system installations.

Conveyor Belt Market Revenue Share, By Product, (2023)

Based on product, the market is segmented into flat belt, modular belt, and cleated belt. The flat belt segment was valued at 4.03 billion in 2023 and is expected to grow at a CAGR of 5.4% from 2024 to 2032. Flat belt conveyors are versatile and have uses in a variety of industries including manufacturing, packaging, food processing, and logistics. Their versatility with various materials and product kinds contributes to their wide use. This type of conveyor belt has a system of powered pulleys and idlers that can handle a wide range of objects at up to a 16° incline.

Based on application, the conveyor belt market is segmented into lightweight, medium-weight, and heavy-weight. The medium-weight segment was valued at 2.41 billion in 2023 and is expected to grow at a CAGR of 3.6% 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.

Asia Pacific Conveyor Belt Market Size, 2021 - 2032 (USD Billion)

Asia Pacific dominated the market for conveyor belts with a 49% share in 2023 and is expected to grow at a robust CAGR of 3.7% during the forecast period. 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.

The U.S. dominated the North America conveyor belt industry with a share of 0.83 billion in 2023. The U.S. is one of the world's major mining countries, with regional mineral reserves ranging from ferrous and non-ferrous metals to nonmetallic clays such as kaolin, bentonite, and attapulgite. The presence of multiple mining businesses in the region will increase regional product demand. The country also hosts a large number of cement manufacturers, and is one of the world's leading construction markets. These factors, combined with technological improvements in the food & beverage, supply chain, and recycling sectors, will drive the regional market over the projection period.

Germany led the Europe market, accounting for a share of about 22% in 2023 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 market.

Conveyor Belt Market Share

Conveyor Belt Market Company Share Analysis, 2023

The prominent players such as Bridgestone Corporation, ContiTech AG, Intralox, L.L.C., Fenner Dunlop, Sumitomo Rubber Industries together hold 40 – 44% Market share in the global market in 2023. 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 Market Companies

Major players operating in the market include:

  • All-State Belting, LLC
  • Ammega Italia Spa
  • Ammeraal Beltech
  • Bando Chemical Industries, Ltd.
  • Bridgestone Corporation
  • Bridgestone Corporation
  • Continental Belting Private Limited
  • ContiTech AG
  • ContiTech AG
  • Elastomerik Belts Private Limited
  • Fenner Dunlop
  • Fenner Group Holdings Ltd
  • Forbo Holding Ltd.
  • Intralox, L.L.C.
  • 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
  • SumitomoRubber Industries
  • The Yokohama Rubber Co., Ltd.
  • Yokohama Rubber Co.,Ltd.
  • Zhejiang Double Arrow Rubber Co., Ltd.

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 2032, 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
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America 
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA


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.

Conveyor Belt Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 24
  • Tables & Figures: 648
  • Countries covered: 24
  • Pages: 444
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