The global conveyor belt market revenue was around US$ 5.3 billion in 2023 and is estimated to reach US$ 8.3 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.9% during the forecast period from 2024 to 2032.

A conveyor system is an aspect of a production line where it carries unfinished products from one method to another. Also, in facilities like warehouses as well as baggage managing units, and others that contain the mining industry, the conveyor belt is utilized for carting material from one place to another.

Factors Influencing Market Growth

- The rising several automated warehouses, propelled by the growing e-commerce sector is also positively impacting the growth of the conveyor belts market.

- The increase in the mining industry is expected to positively influence the expansion of the conveyor belt market during the forecast period.

- The unstable cost of raw materials utilized for manufacturing conveyor belts is anticipated to hinder the overall market growth.

- The technological advancements in the conveyor belt is anticipated to offer lucrative opportunities for the key market players.

Impact of COVID-19

The outbreak of the COVID-19 pandemic had a negative influence on the global conveyor belt market because of the temporary shutdown of conveyor belt manufacturing businesses during the lockdown. The production and sale of the conveyor belts were hindered due to the closure of end-user industries across the world, particularly in the beginning period of the COVID-19 pandemic.

Regional Analysis

In 2023, Asia-Pacific dominated the global conveyor belt market in terms of revenue. This is due to the high population growth and urbanization in this region, the construction, industrial, and agriculture sectors notice rapid growth, thus, the demand for conveyor belts, which are extensively utilized in these sectors is expected to increase in the future.

Also, LAMEA is anticipated to grow with the highest growth rate during the forecast period. This is attributed to that the manufacturing sector in LAMEA has a greater possibility for growth, which is expected to be a major reason for the growth in demand for conveyor belts.

Leading Companies

The leading prominent companies profiled in the global conveyor belt market are:

- THE YOKOHAMA RUBBER CO., LTD.
- Bridgestone Corporation
- Continental Belting Pvt. Ltd.
- Volta Belting Technology
- Bando Chemical Industries, Ltd.
- SIG Societ Italiana Gomma S.p.A.
- Trenn- und Sortiertechnik GmbH
- HUANAN XINHAI (SHENZHEN) TECHNOLOGY CO., LTD.
- Elcon Elastomers Pvt. Ltd.
- Michelin Group (Fenner Conveyors)
- Other prominent key players

Segmentation Outline

The global conveyor belt market segmentation focuses on Belt Type, Installation Type, End User, and Region.

Segmentation based on Belt Type

- Light-weight
- Medium-weight
- Heavy-weight

Segmentation based on Installation Type

- Overhead
- Floor

Segmentation based on End User

- Retail
- Food and Beverage
- Automotive
- Manufacturing
- Transport and Logistics
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa