Conveyor Belt Global Market Report 2024

The conveyor belt market size has grown steadily in recent years. It will grow from $5.38 billion in 2023 to $5.61 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The expansion observed in the historical period can be attributed to the processes of industrialization, the growth of the mining industry, advancements in automated manufacturing, the expansion of the food and beverage industry, an increase in global trade, and improvements in agricultural efficiency.

The conveyor belt market size is expected to see steady growth in the next few years. It will grow to $6.74 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. Anticipated growth in the upcoming period is expected due to the emphasis on renewable energy projects, a strong focus on sustainability across industries, the integration of smart conveyor systems to meet urbanization and infrastructure needs, and the rise of e-commerce fulfillment centers. Key trends projected for this period encompass the development of advanced conveyor belt materials, the implementation of smart conveyor monitoring systems, the utilization of lightweight and modular belts, increased automation and robotics in conveyor systems, initiatives focused on conveyor belt recycling, and the customization of conveyor systems for specific industries.

A substantial surge in air passenger traffic is poised to drive growth within the conveyor belt market. This upswing is attributed to a rapid escalation in disposable incomes, elevated living standards, and greater accessibility to cost-effective air travel globally. The consequential spike in air passenger traffic has prompted governments to establish new airports, which is anticipated to significantly elevate the demand for conveyor belts. These belts play a pivotal role in airport operations by facilitating the seamless transportation of passengers' luggage between various points. Supported by data from the International Civil Aviation Organization (ICAO), which revealed a 65% increase in air passenger volume and a 30% rise in aircraft departures from January to April 2022 compared to the same period in 2021, the trajectory points toward an augmented demand for conveyor belts in the foreseeable future due to the escalating air travel and passenger numbers.

The anticipated expansion of the conveyor belt market is closely tied to the burgeoning manufacturing sector. Within this sector lies the creation of tangible goods via diverse production processes spanning from raw materials to final products. Conveyor belts play a pivotal role in this arena by facilitating the seamless and efficient movement of raw materials, components, and finished goods, thereby optimizing production workflows and elevating overall operational efficacy. A case in point is the data from Eurostat, the Luxembourg-based government statistical agency, which reported a 0.2% increase in industrial output within the European area in July 2023, accompanied by a 0.1% rise in the European Union between May and April 2023. Consequently, the escalating manufacturing industry stands as a key driver propelling the growth trajectory of the conveyor belt market.

Manufacturers in the conveyor belt market are increasingly focusing on technological advancements to enhance their market presence and meet industry needs. These advancements include the development of eco-friendly conveyor belts, direct drive motors, smart conveyors, vacuum conveyors, and adjustable conveyors. These innovations aim to minimize environmental impact, reduce spillage, and safeguard transported items from dust and harmful particles. For example, in April 2022, BEUMER Group, a German intralogistics systems manufacturer, introduced an environmentally friendly U-shaped conveyor belt. This design enhances port terminal operations by accommodating larger mass flows compared to pipe conveyors and tighter curve radii than troughed belt conveyors, ensuring dust-free transportation. The belt's idlers create a closed tube, shielding conveyed materials from external influences and preventing emissions such as material loss, dust, or odors.

Leading companies within the conveyor belt market are strategically focusing on the introduction of cutting-edge conveyor belts, such as the heat-resistant conveyor belt, aiming to secure a competitive advantage. These specialized belts are engineered to manage the transportation of high-temperature materials, surpassing the limits of standard conveyor belts. For example, in July 2023, Dunlop Conveyor Belting, a Netherlands-based manufacturer, unveiled OptimaHeat Xtreme, a novel heat-resistant conveyor belt. This innovative belt is specifically designed to endure elevated temperatures and extended exposure to hot payloads and abrasive materials. OptimaHeat Xtreme maintains its heat resistance even under continuous operation at temperatures reaching up to 400°F (204°C) while exhibiting minimal abrasion degradation. The unique cover compound integrated into this new belt ensures prolonged heat resistance, a critical attribute for sustained operational effectiveness over extended periods.

In April 2021, Fenner Dunlop, a UK-headquartered manufacturer and distributor of rubber conveyor belting used in industrial applications, completed the acquisition of Technobalt for an undisclosed sum. This strategic acquisition is geared toward reinforcing Fenner's standing as a leading supplier of exceptionally specialized conveying products. It also marks an expansion into various sectors, including waste management, mining, quarrying, energy, and paper industries. Technobalt, headquartered in Estonia, specializes in providing conveyor belts and associated maintenance services, aligning well with Fenner Dunlop's objectives and enhancing its market presence in diverse industrial segments.

Major companies operating in the conveyor belt market report are ContiTech AG, Bridgestone Corporation, Bando Chemical Industries Ltd., Apache Inc., Sandvik AB, The Yokohoma Rubber Co. Ltd., Rexnord Corporation, Habasit AG, Zhejiang Sanwei Rubber Item Co. Ltd., Intralox LLC, Zhejiang Double Arrow Rubber Co. Ltd., Megadyne Group, Chiorino S.p.A., Ashworth Bros. Inc., GKD Gebr. Kufferath AG, Wire Belt Company Limited, Smiley Monroe Ltd., Phoenix Conveyor Belt Systems GmbH, Oriental Rubber Industries Pvt. Ltd., Fenner Group Holdings Ltd., Elastomerik Belts Private Limited, Tenova SpA, Sempertrans Conveyor Belt Solutions GmbH, Forbo Siegling GmbH, Ammeraal Beltech Holding B.V., Derco BV, Dunlop Conveyor Belting, Mafdel, Esbelt S.A., Sparks Belting Company.

Asia-Pacific was the largest region in the conveyor belt market in 2023. Western Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the conveyor belt market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the conveyor belt market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are several types of conveyor belts used across industries, including overhead, floor, roller, pallet, and crescent varieties. Overhead conveyor belts operate above workers and machinery, maximizing space utilization by running along a rigid track with a series of trollies or chains. These systems efficiently transport materials, facilitated by carriers that pull items using manual labor or a motor. Their flexible design allows customization into various shapes, offering adaptability for different applications. Conveyor belts come in portable or stationary installations and are constructed from metal or polymer materials, catering to lightweight, medium-weight, and heavy-weight operations. Industries such as mining, food and beverage, power generation, recycling, supply chain management, general manufacturing, and others widely employ these conveyor belts for their diverse transportation needs.

The conveyor belt market research report is one of a series of new reports that provides conveyor belt market statistics, including conveyor belt industry global market size, regional shares, competitors with a conveyor belt market share, detailed conveyor belt market segments, market trends and opportunities, and any further data you may need to thrive in the conveyor belt industry. This conveyor belt market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The conveyer belt market consists of sales of roller bed conveyor belts, flat belt conveyors, modular belt conveyors, cleated belt conveyors, curved belt conveyors, incline/decline belt conveyors, sanitary and washdown conveyors, and specialty conveyor belts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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