According to a recent market study published by Growth Market Reports, titled, “Global Conveyor Systems Market for Heavy Industries, By Component, By Belt, By Belt Material, By End Use, and By Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 5,983.1 Million in 2022 and is expected to expand at a growth rate of 7.6% by 2031.

As per Growth Market Reports industry analyst Harneet Meher, “The Global Conveyor Systems Market for Heavy Industries is anticipated to register significant growth during the forecast period, 2022-2031. Increasing Demand for Minerals & Metals Globally is driving the market. Rapid Infrastructural Development across the World is supporting the market growth. Conveyor systems are industrial machinery that are used to transport several materials with minimum effort. Conveyor systems usually consist of a frame that supports either wheels, rollers, or a belt, upon which the materials move from one place to another. The market was negatively affected during the pandemic. However, it is reviving at a significant pace from 2022.

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Conveyor systems are one of the most important parts of manufacturing processes. Penetration of conveyor systems has been increasing across heavy-duty industries, such as automotive, mining, and cement, over the past several years. It has positively impacted the conveyor system market. Additionally, the mining business has benefited from the growing demand for extracted materials for energy production, electric vehicles, and other manufacturing-related activities.

Heavy-duty conveyor systems are a type of industrial machinery that is used in material handling applications. Conveyor belts of these systems are often made from rubber, which makes them long-lasting. Heavy-duty conveyor belts are manufactured using different materials, such as vulcanized fiber fabric or non-vulcanized fiber fabric reinforced with steel cord. They have various applications, including power generation, mining, industrial handling, and material transport, among others.

Primary and secondary research methodology is used for keen observation and study about the Global Conveyor System Market for Heavy Industries. Primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews are conducted with stakeholders across industry verticals on regular intervals in line with the ongoing studies and to be updated with the latest market trends & developments. Validation of the estimated market size and current and future trends are done from the key opinion leaders (KOLs). These KOLs are the CXO level people from key companies in the industry and possess the experience of around 10-20 years in the industry. The secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases are analyzed for macro & micro analysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The COVID-19 pandemic has highlighted economic disparities in the global demand in the crisis of global interdependence and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. Strict measures are required for monitoring the pandemic, which affected businesses and caused unanticipated short and long-term effects. Consequently, pandemics are problems for individual market and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 serves as an opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In the present scenario, COVID-19 is hampering the production process of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand-supply of various products and services. However, reduction in outdoor activities and social distancing has created lucrative opportunities for the market.

Key Takeaways from the Study:

  • Key market players include Bridgestone Corporation, Semperit AG Holding, Continental AG, AMMERAAL BELTECH, Dorner Mfg. Corp., Sparks Belting, Maine Industrial Corp., Fenner Conveyors (Michelin Group), Zhejiang Double Arrow Rubber Co., Ltd., Redline Systems Incorporated.

  • On the basis of Component, the belt accessories segment held a Major market share in 2022 and is projected to expand at a significant rate during the forecast period. Conveyor belt accessories include corrugated sidewalls, cleats/flights, guides and profiles, fingers, pillow belts, splicing and joining, and fasteners. The demand for conveyor belt accessories is fueled by the expansion of the industrial sector globally, which includes electronics, mining, and automotive manufacturing.

  • On the basis of Belt Type, the heavy-duty segment held a Major market share in 2022 and is projected to expand at a significant rate during the forecast period. The major factor driving the heavy-duty conveyor belt is the growing mining sector across the globe.

  • On the basis of Belt Material Type, the rubber segment held a Major market share in 2022 and is projected to expand at a significant rate during the forecast period. Rubber is cost-effective with respect to other materials such as PVC and steel. Factors such as easy portability, well-developed supply chains of manufacturers, and high imports of rubber-reinforced conveyor belts contribute to the revenue generated from the rubber material segment.

  • On the basis of End-Use Industry, the mining segment is projected to expand at a significant rate during the forecast period. The mining sector aims to increase output without increasing the carbon footprint. Mining operations involve the generation of a substantial amount of carbon dioxide. All major countries are committed to reduce the carbon footprint in the coming years. Efficient material handling through conveyor systems helps to reduce the carbon footprint of the mining process. This trend is contributing to the increasing adoption of conveyor systems in the mining sector.   

  • Based on country, the global conveyor systems market for heavy industries market is segmented into China, the US, Germany, Japan, India, Brazil, Russia, Italy, Mexico, France, Poland, Australia, the UK, Romania, Spain, Chile, Turkey, South Africa, Canada, and Rest of the World. The market in China held the largest market share with USD 1,438.4 million value in 2022. This is because China is one of the biggest manufactures of crude steel in the world with the production of around 1017.9 million tons of crude. These belts transfer heavy components from one place to another and thus play an important role in the steel industry. Increasing demand for steel is expected to boost the demand for conveyor belt and systems.

Report Scope:

Report Metric

Details

Market Value in 2022

USD 5,983.1 Million

Market Growth Rate (from 2023 to 2030)

7.6%

Historical Data

2016 & 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (USD Million)

Market Segments

By Component, By Belt Type, By Belt Material Type, By End Use, and By Region

Key Companies Profiled

Bridgestone Corporation, Semperit AG Holding, Continental AG, AMMERAAL BELTECH, Dorner Mfg. Corp., Sparks Belting, Maine Industrial Corp., Fenner Conveyors (Michelin Group), Zhejiang Double Arrow Rubber Co., Ltd., Redline Systems Incorporated

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Raw material suppliers and manufacturers  

  • Demand Side: Industrial sectors

  • Regulatory Side: Concerned government authorities and other regulatory bodies