The global Heavy Duty Belt Conveyor market size was USD 3.40 Billion in 2021 and is expected to register a revenue CAGR of 4% over the forecast period, according to the latest report by Reports and Data. Increased mining, oil gas, construction, and other industry vertical activity, as well as growing industrialization and urbanisation, will all contribute to market expansion.
Increasing industrialization, the expansion of the mining sector, and the quick expansion of warehouses and distribution centres for online retailers are the main forces behind the heavy-duty conveyor belt market's revenue growth. In a conveyor belt system, which consists of a continuous loop consisting of two or more pulleys or drums, a conveyor belt serves as the carrying medium. It is designed to endure tearing, abrasion, and wear. The main material of a heavy-duty conveyor belt is rubber, with a nylon or steel wire frame. Because they can bear the strains of demanding use, these belts are also utilised in heavy-duty industries including steel, coal, cement, mining, building construction, and others.
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Companies profiled in the market report include Continental AG, Bridgestone Corporation, Trelleborg AB, Bando Chemical Industries, LTD., Baoding Huayue Rubber Belts Co., Ltd., Shandong Phoebus Rubber Co., Ltd., Qingdao Rubber Six Xiangte Conveyor Belt Co., Ltd., Zhangjiagang Huashen Industrial Rubber Plastic Products Co., Ltd., Smiley Monroe, and Fenner Group Holdings Limited.
Some Key Highlights from the Report
- The mining, industrial, construction, transportation, oil gas, and other segments make up the market for heavy-duty conveyor belts worldwide. Over the course of the projected period, it's predicted that the mining segment's revenue would expand quickly. The mining business has grown significantly over the world as a result of increasing demand for minerals and rare earth elements. Mining processes including drilling, crushing, and pulverising must be improved, which has led equipment makers to create cutting-edge machinery. The majority of minerals used as raw materials by most businesses are extracted by open-cast mining.
- The North American market is anticipated to register the greatest revenue share over the projection period, according to geographical analysis. When it comes to the growing demand for automation across a variety of business sectors, such as aviation, retail, and automotive, North America is among the top conveyor belt markets in the globe. In a number of important geographic areas, the mining industry in the United States has been a significant economic force. In Nevada, Arizona, and Utah, it has greatly increased local employment in the mines, industrial suppliers, and service sectors that support mining activities. Additionally, the mining industry's growing need for heavy-duty conveyor belts is anticipated to fuel market revenue growth throughout the course of the research period.
- On July 4, 2022, Continental bought NorrVulk AB, a Swedish provider of conveyor belt systems and services, from Gällivare. This acquisition will increase the region's business with industrial customers as well as the variety of conveyor belt systems and related services it offers.
- On June 28, 2022, conveyor belt cleaners across the Middle East and Africa, Europe, and South Asia will be able to use Martin Engineering's innovative N2 remote monitoring system. Martin Engineering is a leader in the field of bulk handling equipment solutions.
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For the purpose of this report, Reports and Data has segmented the global Heavy Duty Belt Conveyor market based on product type, deployment, application, and region:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Multiply Fabric Conveyor Belts
- Steel Cord Conveyor Belts
- Solid Woven Conveyor Belts
Deployment Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
- Oil Gas
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- Latin America
- Middle East Africa
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Key Advantages of Heavy Duty Belt Conveyor Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Heavy Duty Belt Conveyor industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Heavy Duty Belt Conveyor market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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