The market is expanding as a result of the increasing demand for belt conveyor systems brought on by the requirement for effective material handling. The market expansion is also being boosted by rising investments in infrastructure, the industrial and manufacturing sector, fast regional urbanization, and technological advancements. Additionally, the market is growing due to the rising use of automated technology in belt conveyor systems.
For effective material handling, several industries use belt conveyor systems. They contribute to lowering labour costs and enhancing production speed with accuracy, which increases demand for them in the commercial sector. Because of their stability, dependability, flexibility, low power consumption, and ease of maintenance, these systems are increasingly in demand for industrial applications.
The market for belt conveyor systems has many benefits, including low energy usage, flexibility, speed, and cost effectiveness. With the least amount of labour expense possible, these systems are utilized to carry items automatically. They can be utilized in mining applications to transport rocks, minerals, and other materials. These systems are employed in the logistics and transportation sectors to transport packages, parcels, and other cargo. Additionally, food production uses belt conveyor systems to precisely and accurately deliver packed goods from one station to another.
An electric motor drives two or more pulleys in a continuous loop to create a belt conveyor system, a type of material handling machinery. To convey items from one location to another, the belt moves along its track. For effective material handling, belt conveyor systems are utilized in a variety of industries, including mining, transportation, logistics, and agriculture. They provide security, dependability, adaptability, and low power usage. They are mostly utilized for automated, labor-efficient material transportation.
During the projected period of 2021-2031, the market for belt conveyor systems is anticipated to increase from USD 7.20 billion in 2021 to USD 14.30 billion by 2031, at a CAGR of 10.60%.
The rising demand for belt conveyor systems from a variety of end user industries, including the automotive, oil and gas, logistics, agricultural, and food and beverage industries, is driving the market's expansion.
The market's expansion is being hampered by the high initial cost required for the installation and maintenance of belt conveyor systems. In addition, poor maintenance practices are limiting the market's expansion due to low efficiency and decreased durability. The conveyor belt's applicability may also be restricted by continual wear and tear brought on by contact between the belt and driving pulley.
Beumer Group, Siemens AG, Tamy Transportowe S.A., Daifuku Co., Ltd., Fives Group, Conveyor & Caster Engineering, LLC, Kase Conveyors, Wecon Systems LLC, Storcan International Inc., and Conveyor Solutions, Inc. are a few of the leading companies in the market for belt conveyor systems worldwide.
The Enclosed Belt Conveyer segment to form major portion of the market
During the projected period, it is anticipated that enclosed belt conveyor systems will increase more rapidly. Due to the rising demand for automated solutions in mining operations, the mining sector is also anticipated to have a high growth rate in the worldwide belt conveyor systems market. Additionally, the market expansion is being aided by the fast urbanization and infrastructure development taking place across the globe.
Logistics segment segment to be on top of the market
During the projection period, the logistics and transportation segment is expected to experience a significant CAGR. Due to shifting consumer purchasing patterns, there is an increased requirement for efficient material movement in warehouses and distribution centres, which is the cause of this expansion. The demand for belt conveyor systems in this market is also being driven by rising expenditures made by businesses in the automation of their logistical processes.
Asia Pacific to dominate the market
Due to the presence of highly industrialized nations like China and India, the Asia Pacific region accounts for a significant portion of the global market for belt conveyor systems. The market in this region is expanding as a result of the rising need for effective material handling solutions from a variety of industries, including the automotive, oil and gas, logistics, agricultural, and food and beverage industries. The need for belt conveyor systems in Asia Pacific is also being driven by increased infrastructure investments in developing nations.
Covid-19 Impact & Market Status
The global market for belt conveyor systems has been impacted by the COVID-19 epidemic, primarily because manufacturing and industrial operations have been disrupted. Additionally, constraints on transportation and travel have had a detrimental effect on the expansion of the worldwide market. However, it is anticipated that throughout this time period, rising investments in the automation of warehouses and distribution centres will open up new prospects for the industry's stakeholders.
Latest Innovations in the Global Belt Conveyor Systems Market: A Snapshot
The new Simotics XTR motor series was introduced by Siemens AG in October 2020 for use in demanding situations where maximum performance is required. In an effort to use resources and energy as efficiently as possible, the corporation also released its Spectrum Control power management program.
Fives Group announced the debut of its new automated robotic palletizing system in January 2021. This technology is intended to decrease manual labour and boost production efficiency. In the upcoming years, these innovations are anticipated to fuel market expansion.
Belt Conveyor Systems Market Scope
|Revenue forecast in 2031
|USD 14.30 billion
|CAGR of 10.60% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Beumer Group, Siemens AG, Tamy Transportowe S.A., Daifuku Co., Ltd., Fives Group, Conveyor & Caster Engineering, LLC, Kase Conveyors, Wecon Systems LLC, Storcan International Inc., and Conveyor Solutions, Inc
Key Segment of Global Belt Conveyor Systems Market
By Type Overview 2021-2031, (USD Billion)
• Open Belt Conveyor Systems
• Enclosed Belt Conveyor Systems
By Application Overview 2021-2031, (USD Billion)
• Transport and Logistics Industry
• Industrial and Manufacturing
• Food Production Industry
By End-User Overview 2021-2031, (USD Billion)
• Oil and Gas
• Food and Beverage Industry
By Region Overview 2021-2031, (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa