Global heavy duty conveyor belts market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. The conveyor is mechanical equipment exclusively used to move packages and other items without any manual efforts. Heavy duty conveyor belts are mainly compounded and designed to offer a longer service life for most bulk handling applications. These belts comprise flame retardancy and oil & temperature-resisting properties.
The factors that are playing a major role in the growth of heavy duty conveyor belts industry are the growing automotive and food industries, the rising use of enhanced technology, easy to install, cost-efficient, and the growing number of airports and malls in the developing regions. However, the presence of substitutes may restrain the overall market in the years to come. Heavy duty conveyor belts market is segmented based on type, cover thickness, material, application, and region.
Solid woven conveyor belts, multiply fabric conveyor belts, steel cord conveyor belts, and other types could be explored in heavy duty conveyor belts industry in the forecast period. Based on the cover thickness, 2 ply flame retardant, 2 ply standard black heavy duty, 2 and 3 ply moderate oil resistance, 3 ply standard black heavy duty, 4 ply standard black heavy duty, and others could classify heavy duty conveyor belts in the forecast period.
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Based on the material, skeleton material and rubber could classify heavy duty conveyor belts market in the forecast period. The skeleton material comprises a steel wire or nylon. The market may be categorized based on applications like oil & gas, mining, transportation, industrial, construction, and others that could be explored in heavy duty conveyor belts in the forecast period.
Globally, Asia Pacific accounted for the significant share of heavy duty conveyor belts industry and is estimated to lead the overall market in the years to come. The reason could be the developing infrastructure in urban areas like industries and malls, the rise in disposable income, and the rapid urbanization. The developing countries like India and China are the major consumers of heavy duty conveyor belts in this region.
Europe and North America are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Europe is estimated to grow at the highest CAGR in the forecast period. England, Germany, and Italy are the major consumers of heavy duty conveyor belts in this region.
The key players of heavy duty conveyor belts market are Shandong Phoebus, Continental AG, Zhejiang Sanwei, Bando, Trelleborg, Fenner, Bridgestone, Yokohama, Zhejiang Double Arrow, and Baoding Huayue. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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