Selbyville, Delaware, December 22, 2020 (GLOBE NEWSWIRE) –
The Global Market Insights, Inc. has recently added a new report on the conveyor belt market which assesses the global market valuation for a conveyor belt exceeding US $ 5 billion by 2026. Growing demand from the general manufacturing sector will increase market revenues in the coming years
As a result of the pandemic, conveyor belt market revenues have seen a significant decline, both in terms of revenue & volume, due to the closure of various manufacturing and mining sites. The COVID-19 pandemic has altered the normal activity of all industrial sectors, from power generation to general manufacturing. Demand from the mining industry has fallen sharply in the first & second quarters of 2020. Global mining enforcement has had a major impact in the mining industry, affecting the overall conveyor belt market. The global conveyor belt industry is expected to show an 11% downward trend in 2020.
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Conveyor belts are used in various food processing and packaging applications such as confectionery, bakery, snacks, milk, fish, fruits & vegetables, etc. These belts are FDA approved, provide safety for food items and good absorption against fats, oils and, chemical agents. These belts can transport food and beverage products from one workplace to another efficiently without compromising their quality and also move products through the oven & refrigeration sector in the industry.
The food and drink sector is seeing promising growth trends over the forecast period as a result of population growth and disposable income. Consumer lifestyle dynamics are changing as a result of urbanization, creating an impact on food and beverage purchasing decisions. People prefer to buy convenience or processed food due to lack of time.
Supply chain and power generation are the end-use industries that are expected to maintain a market share of over 4% and 11% respectively in 2026. In the power generation industry, conveyor belts are widely used in transporting coal to and from storage sites. Growing global demand for electricity is expected to generate significant revenue benefits for the region during the assessment period.
The other end-user segment mainly includes flights, ports, construction, and so on. In aircraft, conveyor belts are widely used in baggage handling, screening & detection systems, and aircraft loading & unloading systems. Conveyor belts are used for loading, transporting, and unloading of heavy goods in cargo vessels. As a result of the continued increase in passenger numbers, the aviation industry is showing promising prospects for the future. Global import and export activity will increase by handling goods at ports, thus enabling the growth of the conveyor belt market. The construction sector also uses portable transportation systems to easily transport construction materials to high standards.
Browse key business insights spread over 312 pages with 418 market data index & 28 figures & tables from the report, “Belt Conveyor Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/conveyor-belt-market
Key players operating in the market use different strategies to capture a larger share. For example, in August 2015, Bridgestone Corporation began manufacturing conveyor belts at its manufacturing facility in Thailand to expand its production capacity to meet the growing customer base demand in Asia Pacific.
Some of the key findings in the conveyor belt market report include:
- The market is highly fragmented and there are moderately low levels of entry barriers for new entrants.
- The mining sector is the most prominent end-user segment in the conveyor belt market.
- The polymer sector was the largest product segment in 2019 and will maintain a market share of nearly 80% in 2026.
- Key market players include Bando Chemicals, Zhejiang Double Arrow Rubber, ContiTech AG, Fenner DunlopForbo, Nitta Corporation, Bridgestone Corporation, Ammeraal Beltech, The Yokohama Rubber, and Sempertrans.
Browse complete report (ToC) table: https://www.gminsights.com/toc/detail/conveyor-belt-market
Part of the report index section (TOC):
Chapter 2 Executive Summary
2.1 Conveyor belt industry 3600 summary, 2016 – 2026
2.1.1 Business trends
2.1.2 Movements of materials
2.1.3 Output trends
2.1.4 Installation Actions
2.1.5 Motions of appeal
2.1.6 End use trends
2.1.7 Regional trends
Chapter 3 Conveyor Belt Industry Perspectives
3.1 Industry sector
3.2 Business size and forecast, 2016 – 2026
3.2.1 Impact of COVID-19 on industry size
3.3 Industrial ecosystem analysis
3.3.1 Profit margin analysis
3.3.2 Added value at all levels
3.3.3 Circulation channel analysis
3.3.4 Vendor Matrix
3.3.4.1 List of key manufacturers / suppliers
3.3.4.2 List of key customers
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Technological landscape
3.4.3 Future trends
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Growth in the mining industry
3.5.1.2 Growth in steel and cement industry
3.5.1.3 Growth in the convenience food and drink sector
3.5.2 Business problems & challenges
3.5.2.1 High capital investment for the installation of a manufacturing facility and conveyor belt maintenance costs
3.6 Regulatory landscape
3.7 Analysis of growth potential
3.8 Competitive landscape, 2019
3.8.1 The company ‘s market share, 2019
3.8.2 Brand analysis
3.8.3 Key stakeholders
3.8.4 strategy dashboard
3.9 Porter Analysis
3.9.1 Purchaser power
3.9.2 Power supplier
3.9.3 Substitute risk
3.9.4 Risk of new entrants
3.9.5 Level of competition
3.10 Regional price movements
3.10.1 Impact of COVID-19 on regional price movements
3.10.2 Cost structure analysis
3.10.2.1 R&D costs
3.10.2.2 Manufacturing & equipment costs
3.10.2.3 Cost of raw materials
3.10.2.4 Circulation cost
3.10.2.5 Operating cost
3.10.2.6 Miscellaneous cost
3.11 PESTEL Analysis
Impact of 3.12 COVID-19 on end-user conveyor belt application
Browse related report:
Material Handling Equipment Market Size by Product (Storage & Handling Equipment) [Racks, Stacking Frames, Shelves, Bins & Drawers, Mezzanines], Industrial trucks [Automated Guided Vehicles (AGVs), Hand, Platform & Pallet Trucks, Order Pickers, Pallet Jacks, Side-Loaders, Walkie Stackers], Bulk Material Handling Equipment [Conveyor belts, Stackers, Reclaimers, Elevators], Robotics, Automated Storage & Collection System (AS / RS) [Unit-Load AS/RS, Mini-Load AS/RS]), By Demand (3PL, E-Commerce, Durable Manufacturing, Food & Beverage, General Merchandise, Food Retail), Business Analysis Report, Regional Forecast, Growth Potential, Share & Competitive Market Forecast , 2019 – 2025
https://www.gminsights.com/industry-analysis/material-handling-equipment-market
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