Industry Background:
The global rubber conveyor belt market is highly fragmented with the presence of a large number of players globally. The market is expected to witness a healthy CAGR of around 4.7% during the forecast period of 2019-2025. This is owing to growing applications across the mining industry propelled by increasing mining activities of various materials across the world and high demand for long-distance transfer of materials from the material mining source to industrial vessels. In addition, growing automation across steel, cement, and power generation industrial sectors is also another major factor aiding into the growth of rubber conveyor belts market globally.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | ContiTech AG (Germany), Fenner Dunlop Division (United Kingdom), Bridgestone Corporation (Japan), THE YOKOHAMA RUBBER CO., LTD. (Japan), Bando Chemical Industries, LTD. (Japan), Trelleborg AB (Sweden), GRT Rubber Technologies (United States), Lutze Group (Germany), ARTEGO S.A. (Romania), Smiley Monroe (United Kingdom), Oxford Rubbers Pvt Ltd. (India), HIXIH RUBBER INDUSTRY GROUP (China) and Continental Belting Pvt. Ltd. (India) |
According to AMA, the market for Rubber Conveyor Belt is expected to register a CAGR of 4.7% during the forecast period to 2027. This growth is primarily driven by Increasing Demand for Rubber Conveyor Belts from Growing Mining Industry, Increasing Demand for Long-Distance Material Transfer in Industrial Sector and Growing Automation Across Steel, Cement, and Power Generation Sector.
Globally, a noticeable market trend is evident Increasing Demand for Rubber Conveyor Belts Propelled by Growing Mining Activities Across Different End-Use Industries The Machinery & Equipment sector in the Europe region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as ContiTech AG (Germany), Fenner Dunlop Division (United Kingdom), Bridgestone Corporation (Japan), THE YOKOHAMA RUBBER CO., LTD. (Japan), Bando Chemical Industries, LTD. (Japan), Trelleborg AB (Sweden), GRT Rubber Technologies (United States), Lutze Group (Germany), ARTEGO S.A. (Romania), Smiley Monroe (United Kingdom), Oxford Rubbers Pvt Ltd. (India), HIXIH RUBBER INDUSTRY GROUP (China) and Continental Belting Pvt. Ltd. (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global rubber conveyor belt market comprises of numerous players across the world. According to the AMA study, the market for rubber conveyor belt is highly fragmented in terms of value. Local players in this market are catering to the small scale industry demands for rubber belts. There are a large number of local manufacturers in this market that are supplying their products to small scale industrial players to cater to the requirements. Moreover, large players in this market are focusing on acquisition and expansion strategies to gain market share and remain competitive in the market.
Key Developments in the Market:
In May 2018, Trelleborg AB announced that it has completed the on-going acquisition of Savatech since 2016. In 2018, Savatech was renamed as Trelleborg Slovenija after completion of the acquisition from Trelleborg AB
In October 2019, Smiley Monroe announced that it will be opening a new manufacturing facility in Franklin, Kentucky to further expand in the United States market
Influencing Trend:
Increasing Demand for Rubber Conveyor Belts Propelled by Growing Mining Activities Across Different End-Use Industries
Market Growth Drivers:
Increasing Demand for Rubber Conveyor Belts from Growing Mining Industry, Increasing Demand for Long-Distance Material Transfer in Industrial Sector and Growing Automation Across Steel, Cement, and Power Generation Sector
Challenges:
High Initial Installation Cost and Required Frequent Periodic Maintenance for Heavy Weight Applications
Restraints:
Availability of Alternatives Such as Chain Drives, Gear Drives, and Variable Frequency Drives
Opportunities:
Opportunity to Diversify into Emerging Economic Regions Such as the Asia Pacific
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Rubber Conveyor Belt Market
- Analysis about New Entrants in Rubber Conveyor Belt Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Rubber Conveyor Belt Study Sheds Light on
The Rubber Conveyor Belt Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Rubber Conveyor Belt industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Rubber Conveyor Belt industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.