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MembershipGlobal Conveyor and Drive Belt Market Report, History and Forecast 2014-2025
Published Date: 2019-12-30 | Pages: 124 | Tables: 147 | Report Id: 1419841 | Hits: 198 | Machinery & Equipment
The global conveyor and drive belt market is forecast to achieve growth on the back of the need for efficient conveyor systems to handle and move large volumes of goods and materials at airports, manufacturing facilities, and industrial plants. Conveyor and drive belt manufacturers could focus on expanding their product portfolio and forming strategic partnerships with key end users.
Airport and Automotive Parts Replacement Markets Likely to Strengthen Demand
Increase in the number of infrastructure development projects in emerging countries and the subsequently rising demand for cement and concrete materials are expected to positively impact the global conveyor and drive belt market. Conveyor belt is one of the widely used equipment in the cement and construction industries. It finds application in the handling and transportation of cement and other construction materials. Growing number of airline passengers could be a crucial factor increasing the need for airport conveyor belt. The automotive parts replacement market is anticipated to create demand for drive belt in future. Rising automobile production could be another factor increasing the demand for drive belt.
Demand for Conveyor Belt to Improve with Increasing Manufacturing Automation
On the basis of product type, the global conveyor and drive belt market is segmented into drive belt and conveyor belt. Increasing automation in the manufacturing sector and need to reduce material loss, cost, and operation time in high-growth industries such as automotive are expected to strengthen the demand for conveyor belt. High investments in the improvement of process efficiency in key sectors such as manufacturing could further add to the growth of the conveyor belt segment. The global conveyor and drive belt market is also segmented on the basis of application. Important applications of conveyor and drive belt are automotive, logistics/warehousing, industrial, mining, and others.
Rising Need for Industrial Automation Expected to Help Create Demand in Asia Pacific
Asia Pacific is predicted to gain growth in the global conveyor and drive belt market mainly because of the advancement of the food and beverages, steel, and automotive industries. Increase in the adoption of automation solutions for industrial processes in key countries such as Japan, China, India, and South Korea could create more opportunities for players in the emerging region.
North America is also anticipated to show growth in the global conveyor and drive belt market. Robust growth of the residential and commercial construction sectors increasing the demand for cement and other raw materials could benefit the North America conveyor and drive belt market. Conveyor and drive belts find important application in cement and concrete production plants.
Key Players
Readers of the report are provided with in-depth analysis of the vendor landscape and company profiling of leading players competing in the global conveyor and drive belt market. Key manufacturers covered in the report are ContiTech AG, Gates, Volta Belting, Partners Group, Esbelt, Habasit, Sparks, Mitsuboshi, Jiangyin TianGuang, Intralox, Wuxi Shun Sheng, Forbo Movement Systems, CHIORINO, Bando Chemical Industries, Ltd., YongLi, Nitta, SANLUX, and Dayco. The competition in the global conveyor and drive belt market could be chiefly based on product differentiation, price, and innovation.
Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from QYResearch and presented in this report.
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
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