Global Conveyor Belt Market Analysis 2023 – Market Size And Key Drivers

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The Conveyor Belt Global Market Report 2023 by The Business Research Company, provides conveyor belt market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Conveyor Belt Global Market Report 2023, the market size is expected to grow from$5.18 billion in 2022 to $5.38 billion in 2023 at a compound annual growth rate (CAGR) of 3.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of the conveyor belt is expected to grow to $6.27 billion in 2027 at a CAGR of 3.9%.

A surge in air passenger journeys will propel the growth of the conveyor belt market. Rapid growth in disposable income, living standards, and increasing availability of affordable air travel contributed to the surge in air passenger journeys across the globe. The rapid growth in air passenger journeys is forcing governments to establish new airports, which is predicted to boost demand for conveyor belts, as they are an integral part of airports that helps to transport the luggage of the passenger from one location to another.

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The conveyor belt market is segmented:

1) By Type: Overhead, Floor, Roller, Pallet, Crescent

2) By Installation: Portable, Stationary

3) By Material: Metal, Polymer

4) By Application: Light Weight, Medium Weight, Heavy Weight

5) By End-User: Mining, Food and Beverage, Power Generation, Recycling, Supply Chain, General Manufacturing, Other End-Users

Technological advancement is a key trend gaining popularity in the conveyor belt market. Manufacturers operating in the conveyor belt market are developing new technologies such as eco-friendly conveyor belts, direct drive motors, smart conveyors, vacuum conveyors, adjustable conveyors, and others to meet industry demands and strengthen their market position. Eco-friendly conveyors securely move materials with little harm to the environment, reduce spillage, and protect the items from dust and harmful particles. For instance, in April 2022, BEUMER Group, a German-based manufacturer of intralogistics systems, launched an eco-friendly U-shaped conveyor belt. The U-shaped conveyor makes port terminal operations effective and environmentally friendly. The design permits the implementation of larger mass flows than a pipe conveyor and narrower curve radii than a troughed belt conveyor, all with dust-free conveyance. The idlers make the belt into a closed tube, shielding the material conveyed from outside forces and the environment from emissions like material loss, dust, or odors.

The conveyor belt market report table of contents includes: