Global Conveyor Belt Market: Overview
Booming air travel across the world is pushing the global conveyor belt market to new heights. Conveyor belts are essential for airports predominantly for baggage retrieval. Large airports that handle vast volume of passengers on a daily basis a have large baggage retrieval area with several conveyor belts.
Structurally, conveyor belts comprises two or more pulleys that enables rotation of the belt in incessant circles. The objects to be transported are placed on the belt, which with the rotation of pulleys move on the belt.
The report on the global conveyor belt market is a valuable guide for players in this market. It provides a brilliant analysis of market drivers, restraints, and opportunities that are likely to influence the growth of conveyor belt market over the forecast period.
Global Conveyor Belt Market: Key Trends
Across the world, the growth of the aviation industry is benefitting several ancillary industry sectors such as the conveyor belt industry. Economic development coupled with rising disposable income has surged air travel in emerging economies. Individuals are increasingly opting to fly to save time and for comfort. Governments in emerging economies are making vast efforts to upgrade airport infrastructure for ease of movement of passengers. This includes installing conveyor belts for faster baggage handling.
On the other hand, well-established airport infrastructure in developed countries is moderately fueling the conveyor belt market in these regions. However, equipment breakdown episodes and need to replace old conveyor belts with new ones is stoking demand for conveyor belts. This, in turn is propelling the conveyor belt market.
Another key factor driving the conveyor belt market is the growth of packaged food sector. The high volume consumption of packaged food is necessitating upgrades of manufacturing facility of packaged foods. Conveyor belts are used to transport material at intermediate and final stages of manufacture and packaging of food. The packaged food industry thus serves to boost the conveyor belt market.
Apart from this, consumer goods and several other industrial sectors are aiding the growth of conveyor belt market.
Global Conveyor Belt Market: Geographical Analysis
Among the key regions in the global conveyor belt market, Asia Pacific is a key one. Rapid expansion of airport infrastructure in the emerging economies of the region is a key factor fuelling the Asia Pacific conveyor belt market. Economic growth leading to rising global travel is also indirectly benefitting the conveyor belt market in Asia Pacific.
Europe enjoys substantial share in the global conveyor belt market. Several places of Western Europe that are transit for passengers flying from the East to the West handle vast air traffic. Airports at these destinations are equipped with large baggage handling areas with several conveyor belts.
Global Conveyor Belt Market: Competitive Analysis
Key companies operating in the global conveyor belt market include Siemens AG, Daifuku Co. Ltd Emerson Electric Co.,., Vanderlande Industries B.V., Swisslog, TGW Logistics Group, Intelligrated, Interroll Holding GmbH, and Fives. Technical advancements is the focus of key companies in the global conveyor belts market to consolidate their position.
Market segmentation based on geography:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.