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 (Mining, Food & Beverage, Power Generation, Recycling, Supply Chain, General Manufacturing), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Apr 2019  |  Report ID: GMI3267  |  Authors: Kiran Pulidindi, Soumalya Chakraborty

Report Format: PDF   |   Pages: 311   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Conveyor Belt Market size was valued close to USD 4 billion in 2018 and the industry will grow by a CAGR over 3.5% up to 2025.
 

U.S. Conveyor Belt Market Size, by Product, 2014 – 2025 (USD Million)

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Rising industrial development activities in emerging economies owing to major reforms made by respective governments is the prime factor driving the growth of conveyor belt market over the forecast timeframe. The product is used for carrying materials or components of different sizes, shapes and weights from one place to another in various end-user industries. Conveyor belts subsequently reduces the operation time, cost, and material losses and are important parts of automation solutions in manufacturing plants. In iron and steel industry, the product plays an important role in iron ore mining, transporting and smelting processes. According to world steel association, total crude steel production in 2009 was close to 1,200 million tons, and it increased by 450 million tons to cross 1,650 million tons by 2017. This growth is expected to follow and will boost the market over the forecast time period.
 

In cement industry, the product is used to carry crushed limestone blocks, rocks, and for transportation of hot clinkers while providing excellent impact resistance and good troughability (transverse flexibility). Rapid urbanization and infrastructure development projects in developing nations such as China, Indonesia, South Africa, India, etc. along with escalating building and construction activities due to high population growth will fuel the growth of cement industry over the forecast period, thus catapulting the overall product demand in near future.
 

Although popularly used for proper conveying of various materials and components, conveyor belts need to be carefully maintained or it can lead to partial or total shutdown. These belts are prone to abrasive wear, mechanical damages, loss of flexibility, etc. and thus require periodic maintenance and inspection for smooth operations, increasing the overall maintenance cost. This factor may hinder the overall product market growth rate over forecast time spell.
 

Conveyor Belt Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 4 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 3.5% 2025 Value Projection: 5 Billion (USD)
Pages: 311 Tables, Charts & Figures: 449
Geographies covered (21): U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait
Segments covered: Material, Product, Installation, Application, End-use and Region
Companies covered (17): ContiTech AG, The Yokohoma Rubber Co. Ltd., Bridgestone Corporation, Fenner Group Holdings Ltd., Elastomerik Belts Private Limited, Continental Belting Private Limited, Sempertrans Conveyor Belt Solutions GmbH, Intralox, L.L.C., Siban Peosa SA, Bando Chemical Industries, Ltd., Zhejiang Double Arrow Rubber Co. Ltd., Nitta Corporation, All-State Belting, LLC, S.I.G. Societa Italiana Gomma S.p.A., MRF Limited
Growth Drivers:
  • Growth in the mining industry
  • Growth in steel and cement industry
  • Growth in the convenience food & beverage sector
Pitfalls & Challenges:
  • High capital investment for setting manufacturing facility and conveyor belt maintenance costs

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Conveyor Belt Market, By Material

Based on material, the global conveyor belt market size is segmented into metals, polymers and others. The polymer segment is further bifurcated into polyester, nylon and other polymers including all thermoplastics, rubber-based belts, etc. Metal conveyor belts are used in various end-use industries such as in glass & ceramics, food, metal working and general industries. The segment will witness growth by around 4% CAGR up to 2025. Increasing disposable income has resulted in high growth in consumer goods sector, which will boost general manufacturing industries, and thus will provide a thrust to the product demand over forecast time spell.
 

Conveyor Belt Market, By Product

On the basis of product, the market is classified into flat belts, modular belts and cleated belts. Flat belts held more than 80% in the overall conveyor belt market share in 2018, as these are preferred choices for various industrial applications. They are used to transfer medium and heavy weights in mining, stone crushing, quarrying, cement manufacturing, etc. as well as transporting light-weight materials such as food products and consumer goods.
 

Conveyor Belt Industry, By Installation

Based on installation there are two types of conveyor belts such as portable and stationary. Stationary ones are more popular due to their large conveying capacity over long distances and are used in coal, construction, chemical, mining, port, metallurgy, hydropower, etc. Less maintenance requirements and reliability in operations will catapult the demand for stationary conveyor belts in future.
 

Conveyor Belt Market, By Application

Belts used for medium and heavy weight application majorly include EP and NN belts, and steel cord reinforced belts and had a combined share of more than 75% in 2018. The belt tensions are high for such applications as they carry heavy and abrasive materials, thus requiring high impact resistance and superior mechanical strength. Increasing mining activities, manufacturing plants, recycling facilities, and supply chain sector in the developing economies will boost the demand for medium-weight conveyor belts over the forecast timeframe.
 

Conveyor Belt Industry, By End-use

Based on end-use, mining and general manufacturing sectors held significant conveyor belt market share due to increasing demand of minerals and intensifying building & construction activities and infrastructure projects. Mining sector generated more than USD 1.5 billion in 2018, leading the market and was closely followed by the general manufacturing sector. Power generation held a considerable share in the market as these are used to transfer coals in to thermal power plants.
 

Conveyor Belt Market, By Region

Asia Pacific holds substantial share in the product market and will grow at CAGR more than 4% due to the high growth of regional end-user industries such as mining, steel, cement and food & beverage sectors. The region accounts for approximately half of the global mining production and will experience tremendous growth due to rising demand for various minerals and supportive investments. Rising employability and per capita income will lead to growth in consumption of convenience food and other consumer products. These vigorous growth trends will trigger the demand for conveyor belts across the region in near future.
 

North America conveyor belt market size will be majorly propelled by the demand from mining and manufacturing industries in the U.S. The region also has a large number of cement manufacturers with the U.S. as one of the key construction markets of the world. These factors along with technological advancements such as automation in food & beverage, supply chain, and recycling sectors will boost the product demand over the forecast period.
 

Competitive Market Share

Some of the key industry players in the conveyor belt market share are ContiTech AG, Bridgestone Corporation, Fenner Dunlop, Zhejiang Double Arrow Rubber, Bando Chemicals, Forbo, Ammeraal Beltech, The Yokohama Rubber, Nitta Corporation, Sempertrans, etc. The market is moderately fragmented with a few large scale global players and several small and medium regional players catering to local demand.
 

Industry Background

The global conveyor belt market size is fragmented with presence of large, medium and small enterprises all across the globe. The major players are adopting various organic and inorganic growth strategies of increasing the product range and expanding line capacities, along with merger and acquisitions in order to increase penetration in key geographical regions which will help them to increase their market share.


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