Global Rubber Conveyor Belt Market Overview:
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. According to AMA, the Global Rubber Conveyor Belt market is expected to see growth rate of 4.7%
- Increasing Demand for Rubber Conveyor Belts from Growing Mining Industry
- Increasing Demand for Long-Distance Material Transfer in Industrial Sector
- Growing Automation Across Steel, Cement, and Power Generation Sector
- Increasing Demand for Rubber Conveyor Belts Propelled by Growing Mining Activities Across Different End-Use Industries
- Availability of Alternatives Such as Chain Drives, Gear Drives, and Variable Frequency Drives
- Opportunity to Diversify into Emerging Economic Regions Such as the Asia Pacific
- High Initial Installation Cost
- Required Frequent Periodic Maintenance for Heavy Weight Applications
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.
Some of the key players profiled in the report are 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). Analyst at AdvanceMarketAnalytics see Japan Manufacturers to retain maximum share of Global Rubber Conveyor Belt market by 2025. Considering Market by Installation, the sub-segment i.e. New Installation will boost the Rubber Conveyor Belt market. Considering Market by Industry Verticals, the sub-segment i.e. Mining will boost the Rubber Conveyor Belt market. Considering Market by Material, the sub-segment i.e. Natural Rubber will boost the Rubber Conveyor Belt 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
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Rubber Conveyor Belt market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Rubber Conveyor Belt market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.