Conveyor Belt Market Segmentation by Material (Metal, Polymers, and Others); by Application (Heavy, Medium, and Light Weight); by End-User (Mining, Construction, Supply Chain, Aviation, and Others) – Global Demand Analysis & Opportunity Outlook 2030
Buy Now Report ID: 3185 | Published Date: Feb 09, 2023
Our in-depth analysis of the global conveyor belt market includes the following segments:
By Material
By Application
By End-User
Growth Drivers
Challenges
Regionally, the global conveyor belt market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to garner largest share over the forecast period on the back of growing mining and manufacturing activities in the region. According to the World Bank, in 2019, 13.793% of the total GDP of South Asia was contributed by manufacturing sector. Growth of supply chain industry in countries, such as, China, Vietnam, and India, is estimated to drive the market growth in the region.
The market in the Europe region is estimated to grow with the highest CAGR over the forecast period, owing to the increasing mining activities in countries, such as, Russia, with more than 130 coal mines, 70% of the world’s lead reserve, and major mines for copper, gold, iron, nickel, and other metals. Moreover, growth in the construction and aviation industry, especially in the western Europe, is estimated to boost the market growth. According to the data by the Organization for Economic Co-operation and Development (OECD), in 2019, Germany spent USD 1.88 billion for construction of airports, while France spent USD 1.029 billion for the same.
The global conveyor belt market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Mohd Shadab, Yashika Karodiwal
Ans: Growing demand for conveyor belts in mining activities, and growing supply chain sector are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022-2030.
Ans: Increasing use of drones and robots is one of the major factors estimated to hamper the market growth.
Ans: The market in the Asia Pacific will provide the highest growth opportunities for the market during the forecast period on the back of rising manufacturing industry in the region.
Ans: The major players in the market are Continental AG, Daifuku Co., Ltd., Interroll Group, Honeywell Intelligrated, TGW Logistics Group GmbH, Swisslog Holding AG, Vanderlande Industries B.V., Emerson Electric Co., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by material, application, end-user, and by region.
Ans: The mining segment is anticipated to hold the largest market size over the forecast period owing to the growing mining activities, globally.
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