Conveyor Melt Market TOC
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Part 6
Conveyor Belt Market Size is expected to reach USD 11.10 billion by the end of 2036, growing at a CAGR of 4.68% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of the conveyor belt was USD 6.12 billion. The growth of this market can be attributed to the increasing number of air traffic passengers driven by the increasing need, advancement, and development of new airports. The construction of Beijing Daxing International Airport China, which is expected to be operational in 2019, has been underway. In the future, the new airport plans to have a total of 7 runways for 620,000 flights and 100 million passengers each year. This is anticipated to raise the demand for conveyor belt in the airport industry.
Increased automation of industry, especially in manufacturing, mining, and logistics sectors, is a driving force behind the dynamic landscape. Demand for these reliable material handling solutions is growing as a result of increased emphasis on safety and efficiency. The conveyor belt market is ensured by advances in belt material, smart monitoring systems, and adaptable designs. It will continue to grow, creating attractive prospects for innovative players.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 - 2036 |
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CAGR |
4.68% |
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Base Year Market Size (2023) |
6.12 Billion |
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Forecast Year Market Size (2036) |
11.10 Billion |
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Regional Scope |
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Type (Crescent, Floor, Overhead, Pallet, Roller)
In terms of type, the floor segment is anticipated to hold the notable revenue share worth USD 0.83 billion in APAC region by the end of 2036. Usually, the floor conveyor belts are smooth and tend to run parallel to the ground. The main driver of the floor conveyor belt market is the manufacturing countries such as China, Japan, South Korea, and Taiwan. It is common for floor conveyor belts to be flat and run parallel to the earth. For the transport of goods inside a facility, such as warehouses, distribution centers, or production facilities, they are applied in different industries. To move four-wheel carts in a loop, carrying large products or materials for assembly, powered by guiding rollers, the floor uses a chain, cable or linkage. For heavy objects with uneven lower surfaces, floor-mounted chain conveyors are an excellent choice. In order to fit the layout of the facility, optimize space utilization, and allow for a seamless flow of materials in areas where there is little or no space, floor conveyor belts can be adapted.
Belt Type (Heavy-Weight, Medium-Weight, Lightweight)
Based on belt type, the mediumweight segment in conveyor belt market is set to hold the highest CAGR of 2.68 billion in the Asia Pacific region during the forecast period. For a wide range of applications where moderate strength and flexibility are required, medium-weight conveyor belts are appropriate. In industries such as production, packaging, and logistics for the transport of goods, parts, or materials within a facility or across different processes, they are frequently employed. The materials used for these belts are usually rubber, PVC, or fabrics that are reinforced with Polyester and Nylon. Amazon's fulfillment centers have up to 11 miles of conveyor belts, which carry products from the picking area to loading and packaging into single or multiload areas in a warehouse.
Our in-depth analysis of the global conveyor belt market includes the following segments:
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Type |
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Belt Type |
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Material |
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APAC Market Forecasts
The conveyor belt market in the Asia Pacific region is set to dominate the market by registering a growth of USD 6.28 billion by the end of 2036. The demand for efficient material handling solutions is driven by the region's status as a manufacturing superpower, with China, India, and Vietnam leading industrial growth. The market is also driven by flourishing infrastructure development, a boom in e-commerce, and the rapid adoption of automated processes. The Government of the region is actively involved, pouring money into investments. Infrastructure projects, as well as the implementation of supportive policies. This promotes a favorable environment for manufacturers and suppliers of the belt. Technological developments, which are capable of offering more light, greater strength, and durable belts that meet the needs of different industry sectors, have a key role in this respect. The requirements for the construction of elastomeric and steel cord conveyor belts in general material handling shall be covered by IS 15427, Indian Standard. It is not applicable to conveyor belting for underground mines and such other hazardous applications.
North American Market Analysis
The conveyor belt market in the North America region is set to hold a notable share during the studied period. The North America market for conveyor belts is mature, with a large base of industry and well-developed production sectors as well as modern logistics infrastructures. A key driver of the USA market is e-commerce growth, in addition to a growing demand for automation at production units and warehouses. Demand is also supported by the mining industry in this region, especially as regards coal and minerals.
Author Credits: Rushikesh, Richa Gupta
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