Rubber Conveyor Belt - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Rubber Conveyor Belt market is accounted for $3.79 billion in 2019 and is expected to reach $5.73 billion by 2027 growing at a CAGR of 5.3% during the forecast period. Some of the key factors propelling the market growth are improvements in steel and cement industry and regular advancement in the power generation sector. However, huge maintenance cost in heavy lifting industries is the restraining factor for the growth of the market.
Rubber conveyor belts are used to move heavy rocks and loads in industries such as surface mining and hard rock mining. The manufactured goods is usually used for transporting loads, materials, parts or components smeared with heavy oil or machinery oil treated coal. These transportation belts are made of extremely flame resistant materials.
By application, heavy weight segment is expected to grow at the significant market share during the forecast period due to it is mainly used where high impact strength and belt strength is necessary such as in hard rock mining and surface or underground mining, where a elevated tonnage of abrasive material needs to be transported rapidly and proficiently. On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to increasing consumption of several minerals and lucrative investments. China and India are the leading producers of steel and cement, along with different other natural resources, and their demand will be driven by infrastructure advance plans, commercial & residential projects in upcoming years.
Some of the key players in Rubber Conveyor Belt Market include Bando Chemical Industries Ltd, Bridgestone Corporation, ContiTech, Fenner Grouo Holdings Ltd, Garlock, Mitsuboshi Belting Ltd/JP, Muller Beltex B.V, Oriental Rubber Industries Pvt. Ltd, Oxford Rubbers Pvt. Ltd, The Yokohama Rubber Co. Ltd, Trelleborg, T-Rex Rubber International B.V, Wuxi Boton Belt Co. Ltd and Yokohama.
• Solid Woven Belts
• Multiply Fabric Reinforced Conveyer Belt
• Steel Reinforced Conveyor Belts
• Textile Reinforced Conveyor Belts
• Cold Resistant
Sales Channels Covered:
• Distribution Channel
• Direct Channel
• Light Weight
• Medium Weight
• Heavy Weight
End Users Covered:
• Metal Processing
• Power Generation
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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