Rubber Conveyor Belt Market

Global Rubber Conveyor Belt Market - Overview

Rubber conveyor belts are used for carrying heavy rocks and loads in application industries such as surface mining and hard rock mining. The product is generally used for carrying loads, materials, parts or components smeared with heavy oil or machinery oil treated coal. These transportation belts are made of highly flame resistant materials. 

Global Rubber Conveyor Belt Market – Notable Developments

The competitive landscape of the global rubber conveyor belt market is a fragmented one with a presence of several key players. The leading players in the market are in opting for strategic marketing activities such as mergers and acquisitions in order to stay ahead of the competitive curve. Some of the leading players in the global rubber conveyor belt market include names such as SIG Societa Italiana Gomma, Oxford Rubbers, LUTZE, ARTEGO, Garlock, Trelleborg, Bando, Yokohoma, Fenner Dunlop, ConiTech, and Bridgestone among others.

• In November 2019, Bridgestone announced the launch of world’s first polymer that is able to bond rubbers and resins at molecular level.

Global Rubber Conveyor Belt Market – Drivers and Restraints

There are several factors that are helping to drive the growth of the global rubber conveyor belt market. One of the key driving factor for the rubber conveyor belt market growth has been the fierce competition and surge in the industrial operation in the manufacturing sector. This situation is also true for other major end user application industries such as mining, power, and manufacturing among others. These application industries need highly advanced machinery and equipment to survive the increasing competition in their respective segments. In addition to this, they also need high-end technologies and practices to stay on top of their businesses. These high-end technologies and practices help them minimize the cost and labor, optimize the production time, and maximize the productivity. Rubber conveyor belts help these industries to carry out their operations with ease. This has increased their demand and thus it has helped in the overall development of the global rubber conveyor belt market.

In addition to this, there have been significant developments in terms of overhauling or improvement of the domestic infrastructure and other construction activities across the globe. This too has helped in the development of the global rubber conveyor belt market as these belts help in transporting materials from one place to another with ease.

Global Rubber Conveyor Belt Market - Geographical Outlook

The global rubber conveyor belt market features a geographical landscape with five major regional segments. These regional segments are North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. Of these, currently, the global market is dominated by the regional segment of Asia Pacific. North America and Latin America segment too are expected to show decent development in the coming years of the forecast period. The growth of the Asia Pacific segment is primarily driven by the presence of emerging economies such as India and China. The mining sector in these regions is showing a great growth potential. This has led to an increased demand for rubber conveyor belts for these purposes. Naturally, the growth of the market in the region is experiencing a solid growth. In addition to this, increasing investments put in by the leading manufacturers of the rubber conveyor belt in Asia Pacific are also helping to develop the market to newer heights.