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. Some of the key players profiled in the study 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). According to Market Analyst at AMA, the Global Rubber Conveyor Belt market may see a growth rate of 4.7%
On the basis of geography, the market of Rubber Conveyor Belt has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2019. If we see Market by Installation, the sub-segment i.e. New Installation will boost the Rubber Conveyor Belt market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Mining will boost the Rubber Conveyor Belt market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Natural Rubber will boost the Rubber Conveyor Belt market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- 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
Major Market Developments:
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
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.
Major Objectives Focused through this Study
To define, describe, and forecast the Global Rubber Conveyor Belt market on the basis of product [Agricultural Conveyor Belt, Recycling & Recovery Conveyor Belt, Food Processing Conveyor Belt, Package Handling Conveyor Belt, Forest Products Conveyor Belt and Aggregate/Cement & Construction Conveyor Belt] , application [Light Weight, Medium Weight and Heavy Weight], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Rubber Conveyor Belt market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Rubber Conveyor Belt industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Rubber Conveyor Belt market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.