Global Conveyor Belt Market
Conveyor Belt Market Size And Forecast
According to Verified Market Research, Global Conveyor Belt Market was valued at USD 4.2 Billion in 2018 and is projected to reach USD 5.48 Billion by 2026, growing at a CAGR of 3.36% from 2019 to 2026.
Global Conveyor Belt Market Outlook
Rising industrial development activities and rapid urbanization and infrastructure development projects in emerging economies are the major factor that is expected to increase the growth of the market. Conveyor belt reduces the operation time, cost and are an important part of automation solutions in various industries. The increase in demand for packaged food products along with rising building and construction activities owing to the rise in the population is propelling the growth of the market. However, high maintenance cost as these belts are prone to abrasive wear and damages is a major factor that may hamper the growth of the market over the forecast period.
Global Conveyor Belt Market Competitive Landscape
The Global Conveyor Belt Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as ContiTech AG, The Yokohoma Rubber Co., Ltd., Bridgestone Corporation, Techniks, Fenner Group Holdings Ltd., Elastomerik Belts Private Limited., Continental Belting Private Limited, Sempertrans Conveyor Belt Solutions GmbH, Siban Peosa SA, and Bando Chemical Industries, Ltd.
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