The global conveyor belt market size is estimated to reach USD 4.0 billion in 2023 and is further expected to grow at 4.1% CAGR, totaling a valuation of USD 6.0 billion by 2033.
The rising adoption of belt conveyor systems across industries such as automotive, aviation, logistics, food & beverages, and retail is a key factor pushing demand for conveyor belts in the market.
Emerging trends reveal that the conveyor belt market is esteem to grow more quickly during the forecast period due to expansion in the industrial sector across fast-growing economies like India, China, and others.
The demand for the goods is also estimated to increase as online retailers' warehouses and distribution facilities rapidly expand. The availability of various minerals and commodities is crucial to multiple sectors worldwide, and the belt conveyor system industry is no exception.
A conveyor belt system is almost essential for every end-user industry, such as automotive, airport, retail, industrial, poultry & dairy, and food & beverage, to move things from one place to another.
Over the years, a conveyor system has become a standard mechanical handling equipment to move goods, products, and raw materials from one location to another, usually in the same area or building. It is extremely handy for businesses that deal with heavy goods, sharp items, raw materials, and mass-products products.
Conveyor systems allow for quick and efficient transportation of a business’s materials and products and moving heavy items such as cars. They increase businesses' overall efficiency and productivity, minimize manual labor, and reduce the risk of accidents. It makes them popular in material handling and packaging, and manufacturing industries.
A conveyor belt is the carrying medium of a belt conveyor system. The main component of conveyor systems transports products from one location to another. It provides controlled product movement and has become an ideal material handling system.
Rising usage of conveyor systems for the hassle-free transportation of goods across industries such as food and beverage, automotive, retail, aviation, etc., is estimated to continue to bolster the growth of the conveyor belt market during the forecast period.
Similarly, research and development on conveyor system belts to address the growing customer concern over product quality, especially the durability of raw materials used in production and the expansion of the service industries, is expected to further expand the global conveyor belt market size during the next ten years.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 4.1% |
| Market Valuation (2023) | USD 4.0 billion |
| Market Valuation (2033) | USD 6.0 billion |
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The global conveyor belt market grew at a CAGR of 3.8% during 2018 and 2022 and reached a valuation of USD 3.3 billion in 2018 and USD 3.8 billion in 2022. However, with the rapid adoption of conveyor systems across various industries to move goods, the global market is expected to progress at a CAGR of 4.1% between 2022 and 2033.
Over the years, conveyor belts have become ideal material handling systems used across various industries to improve productivity, reduce labor costs, and minimize the risk of accidents. These conveyor belts are increasingly employed to move heavy and sharp goods from one location to another without major human intervention.
It is projected that the expansion of the end-user industries is estimated to favorably affect the growth of the conveyor belt market during the forecast period.
Similarly, the development of airports, the increase in mining industries, and the growing need for reducing manual labor are anticipated to stimulate market expansion. For instance, by the end of 2021, more than 60 currently built airports is estimated to be operational globally. Similarly, to this, it is predicted that increased mining activity is estimated to accelerate market expansion.
In addition to this, improvement in belt material quality in conveyor systems is estimated to further expand the global market size in the forthcoming years.
Leading manufacturers are concentrating on research and development (R&D) activities to provide novel and inventive belt materials for these systems that can satisfy consumer demand.
Improvements assist the development of brand value and market demand for conveyor belts in material quality. Conveyor belt applications are anticipated to expand due to technological advancements in the materials used in them, which is anticipated to fuel market expansion.
Growing Adoption of Automated Production Lines Across a Wide Range of Industries to Boost Market Growth
Manufacturers are influenced by growing consumer demand for packed food and beverage goods and expanding electronic device demand to boost production efficiency in their manufacturing facilities.
Standard conveyor belt systems are far more effective at moving products along the production line in manufacturing facilities with automated assembly lines than physically delivering products to each station. A conveyor belt system reduces the physical labor needed for a certain procedure and the total turnaround time.
Focus on Providing for Conveyor Belts On-site Maintenance Supplementing Market Growth
Established companies are using their advanced technologies to offer on-site services under the supervision of skilled engineers to better serve customers and grow their client base in the face of sharpened competition in this market.
Key manufacturers are producing monitoring systems intended for conveyor belt maintenance to prevent problems like belt rips, degradation, and splice elongation through the timely repair of belts. These belts have an average lifespan of 2 to 5 years, during which time they need to be checked for alignment and thickness to retain performance.
Thus, companies' growing focus on providing on-site maintenance is estimated to help them increase their customer base, which is estimated to eventually support market growth in the forthcoming years.
An Increase in Mergers and Acquisitions to Boost Growth of Conveyor Belt Market
The increasing focus of manufacturers on improving their product portfolio, market share, and customer base through the acquisition of other tier-III competitors in the market is one of the most noticeable trends seen in the conveyor belt market globally.
The acquisition would eventually help develop businesses in the food, agriculture, industrial, and packaging sectors and add to their customer base for conveyor belting. Furthermore, the combined product and service portfolio would create a holistic, multi-tier offering enabling farmers, distributors, dealers, and equipment manufacturers to receive better support and service.
Principal Consultant
Stationary Installation Type to Hold About ~84.6% of the Global Market Share
As per FMI, the stationary segment is estimated to continue to dominate the global conveyor belt market during the forecast period, accounting for a revenue share of around 84.6%. It can be attributed to the rising adoption of stationary conveyor belts across the majority of end-use industries.
Workpieces are indexed across manufacturing cells using a combination of static supports and moving supports on walking beams of conveyors. In automation and assembly lines, stationary conveyors are utilized when objects must be sequentially placed in predetermined positions.
The walking beam picks up the object being held stationary and allocates it to its subsequent point, where another manufacturing process occurs. This motion is repeated along the conveyor's length, which might have one or several lines. It is more popular on the market due to this beneficial property and is expected to remain high in demand during the forecast period.
Food & Beverage Sector to Contribute Highly in the Market Growth During the Projected Period
By end users, demand for conveyor belts is anticipated to remain high in the food and beverages sector by securing a share of 63.3% in the global market. The rising need for automating manufacturing processes, reducing manual labor, and increasing productivity drives market growth.
The rapidly growing population and increasing demand for packaged foods are key contributing factors to the food and beverage sector's rapid growth. Convenience food demand is rising as the working class expands in developing countries.
The food and beverage businesses is estimated to develop due to rising per capita income and a booming take-out lifestyle. Conveyor systems transport food items through several sections, including the ovens, chilling stations, and packing sections.
Food and beverage manufacturing facilities employ more and more products to boost productivity. The increase in global food and beverage production facilities is estimated to accelerate the expansion of the conveyor belt industry.
| Countries | Forecast Share Between 2023 to 2033 |
|---|---|
| United States | 16.1% |
| Germany | 6.1% |
| Japan | 6.2% |
| Australia | 2.2% |
| Countries | Forecast CAGR Between 2023 to 2033 |
|---|---|
| China | 22.4% |
| India | 4.7% |
| United Kingdom | 2.6% |
Rising Adoption of Conveyor Systems Across Manufacturing Industries Driving Market in the United States
As per FMI, the United States is estimated to continue to dominate the global market during the forecast period, accounting for the larger share of around 16.1%.
Rising adoption of conveyor systems across various industries to transport goods and increase overall productivity, innovations in belt material and design, and the strong presence of leading manufacturers are key factors driving growth in the United States conveyor belt market.
Industries like manufacturing and the automotive sectors are expanding significantly across the United States due to an increase in relative product consumption by end-users. Similarly, regular handling and storage of substances and hazardous substances is growing due to increased e-commerce compared to the previous lifestyle.
Increasing the manufacturing market would necessitate production line automation to retain a global presence in the production industry. Indirectly, this encourages global conveyor market expansion in the country.
Strong, Persistent, and Workaholic Lifestyle Creating Demand for Conveyor Belts in Japan.
The Japan-made standard conveyor belt is "transported" throughout the world. As a result, Japan is anticipated to hold the second larger share of around ~6.2% in the global market in 2023.
Infrastructure, services, and the production line in Japan depend on the culture, which is truly hardworking and busy. They choose belt conveyor systems because they want to use their time productively and because virtually every industry uses automation to save time and cut down on labor.
For instance, one of Japan's highly popular and practical kinds of sushi restaurants has a lengthy conveyor belt loop that begins and ends in the kitchen and is used to move sushi across the restaurant's dining area.
Bridgestone is the world's top-tier manufacturer from Japan and has been a conveyor belt supplier for 60 years. Its conveyor system belts are distinguished by their outstanding rubber compounds, high durability level, and cheap ownership cost.
Increasing Usage of Conveyor Belts in Food and Beverage Sector Propelling Market Growth in Germany
Germany is estimated to secure a share of 6.1% in the global market by 2033. Conveyor belt demand in Germany is anticipated to increase due to the significant presence of the technologically advanced automobile industry and the expanding food and beverage industry.
Over the forecast period, Germany is anticipated to lead the European conveyor system market due to the increasing usage of conveyor belts across the food and beverage sector for the movement of products.
In almost every sub-segment of the German food and beverage market, national and international enterprises make more than 170 thousand food products available to German clients. The sector quickly increased production capacity and modified supply chains. It continues to encourage the adoption of automated technologies like belt conveyor systems.
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The use of belt conveyor systems has increased across numerous industrial and packaging industries due to the growth of e-commerce. Conveyor belt service suppliers are thus under constant pressure to enhance their services.
Leading market players operating in the global conveyor belt market include Zhejiang Double, Siemens AG, TGW Logistics Group, Emerson Electric Co., Intelligrated, Daifuku Co. Ltd., Interroll Holding GmbH, Vanderlande Industries B.V., Taikisha Ltd., Fives, and Swisslog.
Manufacturing businesses want to increase the availability of their conveyor belts on the market by introducing new service offers and collaborating with domestic players. Besides this, they are constantly developing new products to meet the end users' demands. For instance,
Zhejiang Double, Fives, and Siemens: Top Manufacturers Committed Towards Improving Quality of Conveyor Belts
Whether you want a stationary conveyor belt or a portable one for your business, Zhejiang Double, Fives, and Siemens are the perfect destinations. These companies offer a variety of conveyor belts that let you move heavy and light goods from one location to another.
Zhejiang Double Arrow Rubber Co, Ltd is a prominent Chinese rubber conveyor belting producer with an annual output capacity of around 90,000,000m2 and the world's bigger singly located conveyor manufacturing site. The firm manufactures high-quality fabric, steel cord, solid, aramid, anti-tear, and specialized belting to meet and surpass international requirements.
In May 2022, the first manufacturing line of Tongxiang Desheng Belt Co., Ltd., a wholly-owned subsidiary of Double Arrow, had an annual output of 15 million square meters of high-strength, energy-saving, and environmentally-friendly conveyor belt production lines after extensive prior preparation and testing.
Another key manufacturer and supplier of high-strength conveyor belts is Fives. Fives is a multinational industrial engineering organization that has evolved through successive industrial revolutions to provide new ideas and products that improve the performance of key industry leaders globally.
Fives designs and manufactures machinery, process equipment, and production lines for various sectors, including steel, aerospace and special machining, aluminum, the automotive and industrial industries, cement, energy, logistics, and glass. The company achieved a turnover of 1.72 billion euros in 2021.
In November 2021, The Hold Baggage Screening (HBS) system was introduced by Fives Group. The handling solution consists of a conveyor system with a makeup luggage carousel that integrates two tomographic scanners of the most recent generations to process 800 bags per hour.
Siemens Logistics has become a market leader in innovative, high-performance airport logistics systems. The portfolio comprises equipment and baggage and cargo handling solutions, high-end software for digitizing logistics operations, and various maintenance and services.
Through its regional businesses, the corporation has operations in more than 60 countries and is represented globally. Customers include well-known airports and airlines throughout the world.
In September 2020, the first Misplaced Item Clearer (MIC) for cross-belt sorters in package sorting facilities was made available by Siemens Logistics. The apparatus employs sensors to find small, light objects unintentionally positioned between cross belts. With pressurized air, MIC automatically pulls them into an outlet and eliminates them.
As a result, consignments may be handled immediately without delaying sorter operations. MIC Express assists airport distribution centers with staying within the constrained time frames during which packages must be handled and dispatched to subsequent aircraft.
In June 2021, the company launched VarioBelt TilterPlus, a new belt conveyor with an unparalleled tilting device for efficiently transporting baggage at airports.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Type, Belt Type, Material, Installation, End User, Region |
| Key Companies Profiled | Zhejiang Double; Siemens AG; TGW Logistics Group; Emerson Electric Co.; Intelligrated; Daifuku Co. Ltd.; Interroll Holding GmbH; Vanderlande Industries B.V.; Taikisha Ltd.; Fives; Swisslog |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The conveyor belt market is predicted to expand at a 4.1% CAGR through 2033.
The conveyor belt market is expected to surpass USD 6.0 billion by 2033.
The conveyor belt market is anticipated to be USD 4.0 billion in 2023.
The United States is dominating the global conveyor belt market by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Crescent 5.2. Floor 5.3. Overhead 5.4. Pallet 5.5. Roller 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Belt Type 6.1. Heavy-Weight 6.2. Medium-Weight 6.3. Lightweight 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 7.1. Polymers 7.2. Metals 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Installation 8.1. Stationary 8.2. Portable 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 9.1. Automotive 9.2. Airport 9.3. Retail 9.4. Industrial 9.5. Poultry & Dairy 9.6. Food & Beverage 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Zhejiang Double 20.2. Siemens AG 20.3. TGW Logistics Group 20.4. Emerson Electric Co. 20.5. Intelligrated 20.6. Daifuku Co. Ltd. 20.7. Interroll Holding GmbH 20.8. Vanderlande Industries B.V. 20.9. Taikisha Ltd. 20.10. Fives 20.11. Swisslog 21. Assumptions & Acronyms Used 22. Research Methodology
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Conveyor Belt Market
