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Conveyor Belt Market by Type and Geography - Forecast and Analysis 2022-2026

  • Published: Jul 2022
  • Pages: 136
  • SKU: IRTNTR44239
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The conveyor belt market share is expected to increase to USD 2.82 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.18%.

This conveyor belt market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers conveyor belt market segmentation by type (unit handling and bulk handling) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The conveyor belt market report also offers information on several market vendors, including ACMI SPA, Bastian Solutions LLC, Beumer Group GmbH and Co. KG, Carolina Material Handling Inc., Daifuku Co. Ltd., FIVES SAS, FLSmidth AS, Guoqi Machinery Co, Ltd., Heat and Control Inc., Hytrol Conveyor Co., Indpro Engineering Systems Pvt Ltd., Telschig GmbH, VIBRA MASCHINENFABRIK SCHULTHEIS GmbH and Co., YUH CHERN MFG CO, LTD., Apollo Group B.V., Conveyor Eng. and Mfg., Eriez Magnetics India Pvt Ltd, ICONVEY and HONGSBELT, TECHFLOW ENTERPRISES PVT LTD., and VAC-U-MAX among others.

What will the Conveyor Belt Market Size be During the Forecast Period?

Conveyor Belt Market Size

Download the Free Report Sample to Unlock the Conveyor Belt Market Size for the Forecast Period and Other Important Statistics

 

Conveyor Belt Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing demand for automation in material handling is notably driving the conveyor belt market growth, although factors such as storage and handling challenges of conveyor belts may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the conveyor belt industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Conveyor Belt Market Driver

One of the key factors driving the global conveyor belt market growth is the increasing demand for automation in material handling due to the rising need for handling the materials, especially bulky materials, as they vary in texture and size. The yearly growth rate for the global automated material handling equipment market is expected to be promising during the forecast period. The demand for automation is high in various industries, with the automotive industry carrying the highest market share. The others industry segment includes retail and healthcare industries. The increasing number of manufacturing facilities across the world will boost the demand for conveyor belts for transporting materials from one place to another. Thus, it will be helping the global conveyor belt market to grow. 

Key Conveyor Belt Market Trend

Increasing demand for steel cord conveyor belts is one of the key conveyor belt market trends that is expected to impact the industry positively in the forecast period. The belts are extensively used in applications like coal mining, which accounted for more than 38% share of the global underground mining equipment market. Furthermore, these conveyor belts offer these benefits as follows:

  • Strength - Steel cord conveyor belts offer strength even under high operating tensions as steel wires are used for the manufacturing of steel cord conveyor belts.
  • Easy maintenance - Steel cord conveyor belts are easy to maintain than others as it can be reconditioned with hot and cold vulcanization. 
  • Splicing - Splicing of belts typically means a process of joining the ends of belts with the help of heat and pressure. It usually occurs through hot vulcanization. 
  • Flexibility - Steel cord conveyor belts offer higher flexibility because of their sloping inclination. They can be used at an angle of inclination of 45 degrees.

These factors are increasing the demand for conveyor belts made of steel cord and hence leading to the growth of the global conveyor belt market.

Key Conveyor Belt Market Challenge

One of the key challenges to the global conveyor belt market growth is the storage and handling challenges of conveyor belts. Before installation, belts are required to be stored in a cool and dry place and rotated 90 degrees in a span of 5 to 6 months, to protect the belt from moisture accumulation. Moreover, handling the roll is crucial before the installation. The packaging of belts is required to be done in cylindrical reels. In addition, the tensioning operation of the belt takes place with the help of a power device after the installation is complete. Moreover, cleaning is required after the installation of a conveyor belt system with the help of rotating brushes. This makes the whole installation procedure critical, which may hamper the market growth.

This conveyor belt market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global conveyor belt market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the conveyor belt market during the forecast period.

Who are the Major Conveyor Belt Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ACMI SPA
  • Bastian Solutions LLC
  • Beumer Group GmbH and Co. KG
  • Carolina Material Handling Inc.
  • Daifuku Co. Ltd.
  • FIVES SAS
  • FLSmidth AS
  • Guoqi Machinery Co, Ltd.
  • Heat and Control Inc.
  • Hytrol Conveyor Co.
  • Indpro Engineering Systems Pvt Ltd.
  • Telschig GmbH
  • VIBRA MASCHINENFABRIK SCHULTHEIS GmbH and Co.
  • YUH CHERN MFG CO, LTD.
  • Apollo Group B.V.
  • Conveyor Eng. and Mfg.
  • Eriez Magnetics India Pvt Ltd
  • ICONVEY and HONGSBELT
  • TECHFLOW ENTERPRISES PVT LTD.
  • VAC-U-MAX

 

This statistical study of the conveyor belt market encompasses successful business strategies deployed by the key vendors. The conveyor belt market is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market.

Product Insights and News

  • ACMI SPA - The company offers conveyor belt that includes conveyor belts and conveying systems, which is used in handling equipment to move goods, products, raw goods, and other materials from one location to another.
  • FLSmidth AS - The company offers a conveyor belt that includes Digital Assort System and a surfing sorter.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The conveyor belt market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Conveyor Belt Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the conveyor belt market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Conveyor Belt Market?

Conveyor Belt Market Share by Geography

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50% of the market’s growth will originate from APAC during the forecast period. Japan and China are the key markets for conveyor belts in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The significant increase in the industrial demand for conveyor belts in several countries will facilitate the conveyor belt market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In H1 2020, the regional market was negatively impacted due to the COVID-19 outbreak. The pandemic prompted various government authorities in the region to impose strict lockdowns to curb the spread of the disease. Despite these challenges, the regional market rebounded since H1 2021, owing to rapid vaccination drives and resumption of end-user operations in this region. During the forecast period, the regional market is expected to witness moderate growth driven by the high growth of the construction and food and beverage industries.

What are the Revenue-generating Type Segments in the Conveyor Belt Market?

Conveyor Belt Market Share

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The conveyor belt market share growth in the unit handling segment will be significant during the forecast period. Pallets, packages, and other discrete items, such as cartons and totes, are handled separately in the unit handling conveyor system. The e-commerce business is mainly based on both the business-to-business (B2B) and business-to-consumer (B2C) models, which gives rise to the need for more complex distribution systems than traditional logistics workflows. This is expected to increase the demand for unit handling conveyor belt systems in warehousing and distribution space, as such conveyor belt systems are widely used for handling goods as a single unit.  

This report provides an accurate prediction of the contribution of all the segments to the growth of the conveyor belt market size and actionable market insights on post COVID-19 impact on each segment.

You may be interested in the regional reports :

China Conveyor Belt Market - The market in China to grow at a notable CAGR of more than 6% in terms of the production volume by 2020.

Conveyor Belt Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.18%

Market growth 2022-2026

$ 2.82 billion

Market structure

Fragmented

YoY growth (%)

4.61

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 50%

Key consumer countries

US, Japan, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ACMI SPA, Bastian Solutions LLC, Beumer Group GmbH and Co. KG, Carolina Material Handling Inc., Daifuku Co. Ltd., FIVES SAS, FLSmidth AS, Guoqi Machinery Co, Ltd., Heat and Control Inc., Hytrol Conveyor Co., Indpro Engineering Systems Pvt Ltd., Telschig GmbH, VIBRA MASCHINENFABRIK SCHULTHEIS GmbH and Co., YUH CHERN MFG CO, LTD., Apollo Group B.V., Conveyor Eng. and Mfg., Eriez Magnetics India Pvt Ltd, ICONVEY and HONGSBELT, TECHFLOW ENTERPRISES PVT LTD., and VAC-U-MAX

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Conveyor Belt Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive conveyor belt market growth during the next five years
  • Precise estimation of the conveyor belt market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the conveyor belt industry across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of conveyor belt market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 24: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Type - Market share 2021-2026 (%)
    • 5.2 Comparison by Type
      • Exhibit 26: Chart on Comparison by Type
      • Exhibit 27: Data Table on Comparison by Type
    • 5.3 Unit handling - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Unit handling - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Unit handling - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Unit handling - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Unit handling - Year-over-year growth 2021-2026 (%)
    • 5.4 Bulk handling - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Bulk handling - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Bulk handling - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Bulk handling - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Bulk handling - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Type
      • Exhibit 36: Market opportunity by Type ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Japan - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.10 China - Market size and forecast 2021-2026
      • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 ACMI SPA
              • Exhibit 89: ACMI SPA - Overview
              • Exhibit 90: ACMI SPA - Product / Service
              • Exhibit 91: ACMI SPA - Key offerings
            • 10.4 Daifuku Co. Ltd.
              • Exhibit 92: Daifuku Co. Ltd. - Overview
              • Exhibit 93: Daifuku Co. Ltd. - Business segments
              • Exhibit 94: Daifuku Co. Ltd. - Key news
              • Exhibit 95: Daifuku Co. Ltd. - Key offerings
              • Exhibit 96: Daifuku Co. Ltd. - Segment focus
            • 10.5 FIVES SAS
              • Exhibit 97: FIVES SAS - Overview
              • Exhibit 98: FIVES SAS - Business segments
              • Exhibit 99: FIVES SAS - Key offerings
              • Exhibit 100: FIVES SAS - Segment focus
            • 10.6 Guoqi Machinery Co, Ltd.
              • Exhibit 101: Guoqi Machinery Co, Ltd. - Overview
              • Exhibit 102: Guoqi Machinery Co, Ltd. - Product / Service
              • Exhibit 103: Guoqi Machinery Co, Ltd. - Key offerings
            • 10.7 Heat and Control Inc.
              • Exhibit 104: Heat and Control Inc. - Overview
              • Exhibit 105: Heat and Control Inc. - Product / Service
              • Exhibit 106: Heat and Control Inc. - Key offerings
            • 10.8 Hytrol Conveyor Co.
              • Exhibit 107: Hytrol Conveyor Co. - Overview
              • Exhibit 108: Hytrol Conveyor Co. - Product / Service
              • Exhibit 109: Hytrol Conveyor Co. - Key news
              • Exhibit 110: Hytrol Conveyor Co. - Key offerings
            • 10.9 Indpro Engineering Systems Pvt Ltd.
              • Exhibit 111: Indpro Engineering Systems Pvt Ltd. - Overview
              • Exhibit 112: Indpro Engineering Systems Pvt Ltd. - Product / Service
              • Exhibit 113: Indpro Engineering Systems Pvt Ltd. - Key offerings
            • 10.10 Telschig GmbH
              • Exhibit 114: Telschig GmbH - Overview
              • Exhibit 115: Telschig GmbH - Product / Service
              • Exhibit 116: Telschig GmbH - Key offerings
            • 10.11 VIBRA MASCHINENFABRIK SCHULTHEIS GmbH and Co.
              • Exhibit 117: VIBRA MASCHINENFABRIK SCHULTHEIS GmbH and Co. - Overview
              • Exhibit 118: VIBRA MASCHINENFABRIK SCHULTHEIS GmbH and Co. - Product / Service
              • Exhibit 119: VIBRA MASCHINENFABRIK SCHULTHEIS GmbH and Co. - Key offerings
            • 10.12 YUH CHERN MFG CO, LTD.
              • Exhibit 120: YUH CHERN MFG CO, LTD. - Overview
              • Exhibit 121: YUH CHERN MFG CO, LTD. - Product / Service
              • Exhibit 122: YUH CHERN MFG CO, LTD. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 123: Inclusions checklist
                • Exhibit 124: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 125: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 126: Research methodology
                • Exhibit 127: Validation techniques employed for market sizing
                • Exhibit 128: Information sources
              • 11.5 List of abbreviations
                • Exhibit 129: List of abbreviations
              • in manufacturing industry: Market dynamics in some major processes and discrete industries are changing drastically, and manufacturers are gradually feeling the brunt of excessive demand fluctuations. The fluctuating prices of oil and gas and metals in the global market and the shortage of a skilled workforce worldwide have directly affected the profitability of manufacturing companies. A sudden and unexpected shift in market dynamics can drastically impact manufacturing processes and investments in capital goods.
                • slowdown in the automotive industry: High motorization rates in North America and Europe, the increase in tariffs on imported vehicles in the US and China, and the global economic slowdown are likely to reduce vehicle sales in the coming years. Anticipating a decline in vehicle sales, several vehicle manufacturers are halting their vehicle production. For instance, in March 2019, Ford announced the shutdown of its three vehicle-manufacturing sites in Russia. Similarly, in August 2019, Mahindra and Mahindra Ltd. stopped vehicle production at its manufacturing units in India for 8-14 days. During the same month, Maruti Suzuki announced that it had cut its vehicle production for the sixth consecutive month in 2019. In August 2019, Honda announced a halt in car production at its Argentina-based manufacturing plants. Such a slowdown in the automotive industry is expected to hamper the growth of the market during the forecast period.

                  Research Framework

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  TechnavioINFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases
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                  TechnavioDATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts
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                  TechnavioREPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape
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                  Conveyor Belt Market market growth will increase by $2.82 bn during 2022-2026.
                  The conveyor belt market market is expected to grow at a CAGR of 5.18% during 2022-2026.
                  Technavio has segmented the conveyor belt market market by type (Unit handling, Bulk handling, and heavy-weight) ,geography (APAC, North America, Europe, South America, and Middle East and Africa) , and geographic (APAC, North America, Europe, South America, and MEA).
                  ACMI SPA, Bastian Solutions LLC, Beumer Group GmbH and Co. KG, Carolina Material Handling Inc., Daifuku Co. Ltd., FIVES SAS, FLSmidth AS, Guoqi Machinery Co, Ltd., Heat and Control Inc., Hytrol Conveyor Co., Indpro Engineering Systems Pvt Ltd., Telschig GmbH, VIBRA MASCHINENFABRIK SCHULTHEIS GmbH and Co., YUH CHERN MFG CO, LTD., Apollo Group B.V., Conveyor Eng. and Mfg., Eriez Magnetics India Pvt Ltd, ICONVEY and HONGSBELT, TECHFLOW ENTERPRISES PVT LTD., VAC-U-MAX are a few of the key vendors in the conveyor belt market market.
                  APAC will register the highest growth rate of 50% among the other regions. Therefore, the conveyor belt market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                  The key factors driving the conveyor belt market market growth are:
                  • Increasing demand for automation in material handling
                  • Increasing demand for steel cord conveyor belts
                  The conveyor belt market market vendors should focus on grabbing business opportunities from the unit handling segment as it accounted for the largest market share in the base year.
                  • What are the key global market and the regional market share?
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                  • What are the key factors driving and challenging this market’s growth?
                  • Who are the key market vendors and their growth strategies?
                  • What are the latest trends influencing the growth of this market?
                  • What are the variables influencing the market growth in the primary regions?
                  • What are the factors influencing the growth of the parent market?
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