Global Rubber Conveyor Belts Market is projected to witness ~4.3% CAGR by 2025.Global Rubber Conveyor Belts Market Research Report: Information by Type (Light-Weight, Medium-Weight, and Heavy-Weight Conveyor Belts), by Application (Food, Mining, Construction, Airline, and Others), and by Region - Forecast till 2025
The rubber conveyor belt has become an essential part of various industries including mining, construction, and aviation, for material handling and carrying bulk materials from one point to another. Generally, two or more pulleys are used for the efficient operation of rubber conveyor belts. The major advantage of rubber systems is that it can be designed with a sufficient fail-safe capacity and has excellent resistance to wet or dry abrasion.
The increasing mining activities in Asia-Pacific and South America are one of the factors driving the growth of the rubber conveyor belts market. Furthermore, the technological advancements, growing awareness among the key manufacturers regarding reducing their carbon footprints, and the low maintenance costs of rubber conveyor belts, are set to drive the growth of this market.
Key Players
The prominent players in the global rubber conveyor belts market are Bando Chemical Industries, Ltd (Japan), Intralox (US), Fenner Dunlop (US), Volta Belting Technology Ltd (Israel), Fives (France), Bridgestone (Japan), ContiTech AG (Germany), Goodyear Rubber Products. Inc, (US), Qingdao Rubber 6 Conveyer Belt Co. (China), and The Yokohama Rubber Co., Ltd (Japan).
The prominent players operating in the global rubber conveyor belts market are focusing focus on various strategies such as new product development, mergers and acquisitions, collaborations, and partnerships to strengthen their market position in the highly competitive market.
Regional Analysis:
In terms of region, the global market for the rubber conveyor belts is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the largest share in the rubber conveyor market during the forecast period due to the growing disposable income in countries such as China and India and the increasing investments in food & beverage, chemical, and pharmaceutical industries. However, North America is expected to witness a significant growth during the forecast period owing to presence of high concentration of conveyor belt manufactures in the US, Canada, and Mexico.
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