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The global heavy duty conveyor belts market size was USD 3.40 Billion in 2021 and is expected to register a revenue CAGR of 4.0%

NEW YORK, NY, UNITED STATES, June 6, 2023/EINPresswire.com/ -- The global Heavy Duty Conveyor Belts Market had a valuation of USD 3.40 Billion in 2021 and is projected to achieve a compound annual growth rate (CAGR) of 4.0% during the forecast period. The significant factors contributing to the revenue growth of the heavy duty conveyor belt market include the increasing industrialization, the expanding mining industry, and the rapid growth of warehouses and distribution centers for online merchants.

A conveyor belt is the medium used in a conveyor belt system, which consists of a continuous loop made up of two or more pulleys/drums. It is designed to withstand tearing, abrasion, and wear. Heavy duty conveyor belts are primarily made of rubber, with a frame of nylon or steel wire. These belts are widely utilized in heavy-duty industries such as steel, coal, cement, mining, and building construction due to their ability to endure the pressures of demanding applications.

The market growth is driven by the growing industrialization and urbanization in emerging countries, which will lead to increased activities in various industry verticals including mining, oil & gas, and construction. The use of conveyor belts in different industries saves time, optimizes processes, and enhances productivity by facilitating the movement of goods from one location to another. Additionally, the construction of new airports in response to the rise in air traffic and the increasing demand for luggage transfers will further contribute to the revenue growth of the heavy-duty conveyor belt market. The utilization of heavy duty conveyor belts in the building and construction as well as the Food & Beverage (F&B) industries, driven by rising demand and consumption, will also fuel the growth of the market.

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Segments Covered in the Report

The global heavy duty conveyor belts market is segmented based on product type, deployment, and application. In terms of product type, the market can be categorized into multiply fabric conveyor belts, steel cord conveyor belts, and solid woven conveyor belts.

Over the forecast period from 2019 to 2030, the revenue generated by multiply fabric conveyor belts, steel cord conveyor belts, and solid woven conveyor belts is expected to be significant in the market.

When considering the deployment of conveyor belts, there are two main categories: portable and stationary. Both portable and stationary conveyor belts play a crucial role in various industries and applications.

In terms of application, the heavy duty conveyor belts find extensive usage across different sectors. The major application segments include mining, industrial, construction, transportation, oil & gas, and others. These applications drive the demand for heavy duty conveyor belts and contribute to the overall revenue of the market.

The mining sector is one of the key application areas for heavy duty conveyor belts. The belts are used in mining operations for efficient transportation of bulk materials such as coal, ores, and minerals.

The industrial sector also relies heavily on heavy duty conveyor belts for material handling and transportation within manufacturing facilities. These belts facilitate the movement of goods and materials during production processes, optimizing efficiency and productivity.

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Strategic development:

Continental, a company based in Gällivare, Sweden, completed the acquisition of NorrVulk AB, a company specializing in conveyor belt systems and services, on July 4, 2022. This strategic move aims to broaden Continental's portfolio of conveyor belt systems and related services, while also strengthening its presence in the industrial customer segment within the region.

Martin Engineering, a renowned global provider of solutions for bulk handling equipment, introduced its innovative N2 remote monitoring system for conveyor belt cleaners in the Middle East & Africa, Europe, and South Asia on June 28, 2022. This cutting-edge system enables remote monitoring of conveyor belt cleaners, ensuring enhanced efficiency and performance for customers in these regions.

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Competitive Landscape:

Continental AG, Bridgestone Corporation, Trelleborg AB, Bando Chemical Industries, LTD., Baoding Huayue Rubber Belts Co., Ltd., Shandong Phoebus Rubber Co., Ltd., Qingdao Rubber Six Xiangte Conveyor Belt Co., Ltd., Zhangjiagang Huashen Industrial Rubber & Plastic Products Co., Ltd., Smiley Monroe, and Fenner Group Holdings Limited.

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