Conveyor belts are essential components used in material handling and packaging industries for the transportation and movement of goods across manufacturing, packaging, warehousing and distribution facilities. They help efficiently transport materials over short or long distances from one stage of production to another or within facilities. Conveyor belts come in various types including rubber, plastic modular, steel cord, fabric and others and help automate material movement processes. Their use has increased significantly across diverse industries including food & beverages, automotive, electronics, airports, e-commerce and more.

The global conveyor belts market is estimated to be valued at US$ 4.61 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The global conveyor belts market is projected to witness robust growth owing to increasing application of conveyor belts in material handling and packaging industries across the world. Material handling has become an important part of various manufacturing and production processes. As economies continue to industrialize, the demand for conveyor belts from industries such as automotive, food & beverages, airports and e-commerce is surging significantly. This increasing demand from end use industries is projected to be a major growth driver for the conveyor belts market during the forecast period. Moreover, rapid growth of the packaging industry and adoption of advanced packaging technologies is also fueling the demand for conveyor belts for transporting items within packaging, labelling and fulfilment facilities. With growing industrialization and automation, the conveyor belts market is expected to exhibit lucrative growth opportunities over the coming years.

SWOT Analysis

Strength: Conveyor belts have been a pivotal part of material handling and logistics since decades. They provide an efficient and cost-effective solution for transportation of materials over short to medium distances in various industries. The material handling belts are durable and require low maintenance. Various types of conveyor belts like modular belts, lightly reinforced belts, and heavy-duty belts are available as per the load carrying capacity and compatibility with operations.

Weakness: Frequent belt failures can disrupt production flows. Older conveyor belts prone to damage more easily. Belt tracking issues occur sometimes requiring manual adjustments. High initial costs for installation of conveyor systems especially for complex layouts.

Opportunity: Adoption of conveyor belts growing across packaging, food processing, airports and construction industries. Demand rising for environment-friendly belts made from recycled materials. Increased automation in warehouses and distribution centers boosting conveyor belt utilization. Smart conveyor belts integrated with IoT gaining traction.

Threats: Stiff competition among established conveyor belt manufacturers. Rising raw material prices can impact the overall project costs. Labor shortages challenging timely installations and services.

Key Takeaways

The Global Conveyor Belts Market Demand is expected to witness high growth over the forecast period of 2024 to 2031 on account of rising utilization across diverse industries for material handling needs. The market size is projected to reach US$ 4.61 Billion in 2024.

Regional analysis: Asia Pacific dominates the global conveyor belts market currently due to strong manufacturing activity in China, India, Japan and other developing economies. Growing e-commerce and construction sectors propelling belt demand. Europe and North America are other major markets driven by advancements in packaging, airports and warehouses.

Key players: Key players operating in the conveyor belts market are BENTLEY SYSTEMS, INCORPORATED, PlanGrid, Inc., Procore Technologies, Inc., Sage Group plc, Trimble Navigation Limited, Viewpoint, Inc., Oracle,, 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. The players compete based on product quality, reliability, service, and price. Strategic collaborations and new product launches are common in this industry.

For more details on the report, Read-

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