Conveyor Belts Market Poised to Grow due to Rising Automation in Manufacturing Sector

Conveyor Belts Market

Market Overview

Conveyor belts play a crucial role in material handling for a variety of industries including automotive, airport, food & beverage and others. They efficiently transfer components, foods, luggage and other items from one location to another with minimal effort. Factors such as growing automation, emphasis on safety and demand for accurate product flow have boosted utilization of these belts across production lines.

The global conveyor belts market is estimated to be valued at US$ 4.61 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period of 2024 to 2031.

Key Takeaways
Key players operating in the Conveyor Belts Market size include BENTLEY SYSTEMS, INCORPORATED, PlanGrid, Inc., Procore Technologies, Inc., Sage Group plc, Trimble Navigation Limited, Viewpoint, Inc., Oracle, BrickControl.com, BuildStar Technologies, Inc., Buildtools Inc, CATCloud., e-Builder Inc., eSUB Inc., Jonas Construction Software Inc, Systemates, Inc., Autodesk Inc., Buildertrend, CMiC., ConstructConnect, Odoo S.A.

Key opportunities in the market include development of smart conveyor belts equipped with sensors for detecting defects and monitoring productivity. Growing focus on Industry 4.0 is also expected to drive demand for conveyor belts integrated with Internet of Things (IoT) for real-time data analysis. Geographically, North America and Europe hold major shares attributed to well-established industries while Asia Pacific is likely to offer high growth opportunities led by thriving industrial sector in China and India.

Market Drivers and Restraint:
The key market driver for conveyor belts is rising automation in manufacturing sector. Growing inclination towards automation to reduce production costs and improve efficiencies has augmented adoption of conveyor belts in factories. This has positively influenced the conveyor belts market growth.

High initial investment required for installation and maintenance of conveyor belts systems could hinder the conveyor belts market size. Continuous wear and tear of belt parts necessitates periodic maintenance and component replacement involving high costs. This acts as a major challenge, especially for small and medium enterprises with limited capital.


Segment Analysis
Heavy end-use industries like mining, power generation, manufacturing etc. formed the largest segment in the conveyor belts market. Within heavy industries, mining industry held the major market share due to extensive use of conveyor belts in coal mining and mineral processing. Robust growth of mining industry across regions like Asia Pacific and Africa boosted the demand for conveyor belts in this segment.
Automotive industry emerged as the second largest and fastest growing segment. Various conveyor belts are used extensively in automobile production plants for transportation of parts within production lines. Growing automotive manufacturing worldwide supported the growth of this segment.
Food & beverage industry also contributed significantly to the overall conveyor belts market. Ease of handling products and flexible designs encouraged increased belt installation in food plants. Conveyor systems improved production efficiency in food industry.

Global Analysis
Asia Pacific dominated the global conveyor belts market and accounted for over 35% market share in 2024 owing to strong presence of end-use industries like mining, manufacturing, automotive etc. in China, India and other emerging economies.
Europe was the second largest regional market led by Germany, UK, France and Italy. Strategic initiatives to modernize industries increased the demand.
North America is set to exhibit highest growth during the forecast period. Presence of major manufacturers and recovery of mining and construction sectors drove the regional demand.
Latin America and Middle East & Africa offered lucrative opportunities for belt suppliers. Infrastructure development projects and economic growth in key countries supported the growing adoption of conveyor systems.

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