Conveyor belts market set to grow

Conveyor belts mostly cater to material handling units and are used in carrying bulk materials. By form, the conveyor belts comprise two or more pulleys and an endless loop rotates them. For forward action of belt and carry forward, both the pulleys are powered. The powered pulley is termed as drive pulley and non-powered pulley is termed as idle pulley. Belt conveyors are used in general material handling such as moving items and inventories inside a facility from a different class of conveyors from those that are used in transporting a large volume of resources and agricultural materials.

Commercially, the conveyor belting system can be bifurcated into two systems general material handling and bulk material handling. Both the entities are used with common differences such as general material handling conveyor belts are used in transporting goods mainly in production facilities and the latter is used in outdoor locations to transport agricultural and industrial materials. Overall, with the growing significance of conveyor belts, the market growth witness positive traction in near future.

Market driving factors such as rise in industrial investments and certain macroeconomic factors are major growth drivers. However, occurrence of market saturation in several end-user industries is anticipated in limiting the market growth.

Based on industry, the conveyor belts market is segmented into airline industry, construction, electronics and automobiles. Airline industry witnessed a dominant growth during the estimated period owing to rise in number of terminal expansions, rise in number of airports, passenger traffic and need for efficient baggage transportation.

Based on use, the conveyor belts are manufactured using PVC or rubber. Geographically, the conveyor belts market spans North America, Latin America, Europe, Middle East, Asia Pacific and Africa. APAC is expected to lead the global market during the estimated period owing to rise in industrial investment in APAC markets. North America anticipated in higher CAGR and witnesses a higher demand during the forecast period. MEA regions anticipated in lower CAGR growth owing to low number of production and manufacturing units. The key players in the conveyor belts market include Siemens AG, Emerson Electric Co, Daifuku Co. Ltd, Vanderlande Industries B.V. (The Netherlands), and Fives (France).

This report studies conveyor belts in the global market, especially in North America, Europe, China, Japan, southeast Asia and India, with production, revenue, consumption, import and export in these regions, from 2011 to 2015, and forecast to 2021.

View the full report here.

https://www.radiantinsights.com/research/global-conveyor-belts-market-professional-survey-report-2016?utm_source=referral&utm_medium=paid&utm_campaign=prn_conveyerbelt_19march_rd1

Read the article online at: https://www.drybulkmagazine.com/material-handling/22032018/conveyor-belts-market-set-to-grow/