Global Rubber Conveyor Belts Market Expected to Grow at 4.3% CAGR

APAC Holds the Largest Share of Rubber Conveyor Belts Market

Market Overview

A conveyor belt is designed to offer excellent tear, impact resistance, and rip, in many applications, such as hard rock mining (granite, limestone, trap rock and other components) and recycling. An abrasion resistant material is incorporated in building a rubber conveyor belt which is a combination of nitrile, styrene butadiene rubber (SBR), and neoprene and implanted with a cloth fabric. The styrene butadiene rubber offers improved durability, while the nitrile and neoprene rubbers conveyor belt extend superior level of chemical resistance. This attribute limits the degrading influence of different chemicals and other petroleum-based solvents. The fabric-based rubber conveyor belt is perfect for usages in different industrial level pads, industrial machines, flaps, and strips. Market Research Future (MRFR) has conducted a comprehensive study on the global rubber conveyor belts market. In the report published by them, it has been stated that the rubber conveyor belts market is expected to grow at 4.3% CAGR by 2025.

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The major factors propelling the market growth include the increasing investments in construction, surging demand for mining activities, collectively with the growing application of rubber additives. The increasing concerns regarding adverse ecological impact of mining activities coupled with the substantial investments required for setting up a plant contributes to the limitation of the market growth to a large extent. However, the increasing per capita income in economies such as India and China, increased recycling activities, rising demand for eco-friendly conveyor belts with self-cleaning, and the consistent development in the emerging economies such as Brazil, Argentina, and India, are playing vital roles in driving the demand of the global rubber conveyor belts market. Besides, the players operating within the market are increasingly making use of latest technologies like artificial intelligence and automation in their activities which improves the storage, production, and manufacturing speed of rubber conveyor belts. For instance, renowned rubber conveyor belts manufacturer Intralox went automated with its recent warehouse in Hammond, La. A retrieval system and an automated storage are the key attributes of the latest warehouse. It includes three fully automated cranes for put away and pallet picking. Owing to the height of the warehouse, the print of the warehouse is only 30,600 sq ft having a volume of 23,000 filled pallets. A conventional warehouse would need 103,000 sq ft to accommodate the same storage. Such technological integrations also boost the rubber conveyor belts market significantly.

Key Players

Global rubber conveyor belts market includes renowned players such as Intralox (US), Bando Chemical Industries Ltd (Japan), Volta Belting Technology Ltd (Israel), Fenner Dunlop (US), Bridgestone (Japan), Fives (France), Goodyear Rubber Products. Inc, (US), ContiTech AG (Germany), The Yokohama Rubber Co., Ltd (Japan), and Qingdao Rubber 6 Conveyer Belt Co., (China).

Market Segmentation

The global rubber conveyor belts market is segmented based on application, type, and region. Based on application, the global rubber conveyor belts market is segmented into mining, food, airline, construction, and others. Based on type, the global rubber conveyor belts market is segmented into heavy weight, light weight, and medium weight conveyor belts.

Regional Analysis

In the geographical context, the global rubber conveyor belts market is segmented into Europe, Asia-Pacific, North America, and the rest of the world. Asia-Pacific market is likely to represent the largest share of rubber conveyor belts over the review period. The growth is attributed to the expanding construction and mining activities in China and Australia. Additionally, the steadily expanding population in economies such as India and China coupled with the developing economic condition in Vietnam, India, and Thailand drive the demand for rubber conveyor belts within the APAC market. Also, the increasing outlay in food industry is estimated to further accelerate the demand for rubber conveyor belts in this market. North America is projected to experience a remarkable growth over the forecast period owing to the increasing adoption of rubber conveyor belt in Canada, Mexico, and the US. Besides, the emerging economies in Africa and South America is estimated to boost the market growth within the RoW during the review period.

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Continued……. 

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The Global V Belts Market is subject to witness a substantial growth due to the growing automotive sector, modernization of agriculture and farm equipment in developing economies across the globe. Introduction of modern machineries in the agriculture sector for development of highly advanced farm equipment is anticipated to derive demand for V belts over the forecast period.

Growing automotive sector coupled with wide range application of variable speed belts in industrial processes are some of the prominent factors for market growth. Globally, the V belts market is predicted to grow at a significant CAGR in forecast period, providing numerous opportunities for market players to invest in research and development in the V belt market.

Increasing investment by industrial manufactures to improve overall productivity and limit downtime in end-users market segment is expected to boost the growth of V belts market in the upcoming years. Growing manufacturing and automotive sector in the Asia Pacific region, particularly in the developing economies such as India and China are estimated to drive the market growth in the near future.

Rising focus towards modernization and automation of various industrial process to ensure streamlined, efficient, and faster approach is projected to positively influence market progress of V belts. Shifting trends towards increasing adoption of V belts in the manufacturing industries is attributed to factors such as flexibility and adaptability of as V-belts for every distributor operation. Additionally, ease of availability of V belts in the wide variety allows transmission of range of load power is expected to favor market growth.

Some of the benefits of V belts include different of orientations such as horizontal, vertical or inclined and independent operational capabilities. These factors play a major role for boosting the growth of v-belt market in the upcoming years. However, inability to operate on synchronous speed is considered as one of the major restraining factor for market demand of V belts. In addition, rising application of flat belts in large distances operations and superior power transfer efficiency is expected to limit market progress to a certain extent.

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The V belts market is broadly categorized into four major types based on raw material such as rubber-based V belts, polymer-based V belts, neoprene-based variable belts, and urethane-based V belts. The polymer-based V belts is considered as one of the fastest growing segment in the V belts market with substantial revenue generation in the last couple of years.

Growing popularity of the polymer-based V belts is attributed to cost-effectiveness and easy availability. Application of the V belts include automobile manufacturing, food processing industry, and aerospace industries. Increasing adoption of in manufacturing sector is one of the major driving factor for market growth, in the recent years.

Increasing demand for automobile worldwide is constantly on the rise with significant increase in demands from developing countries such India, China and Brazil. The technological advancement in the automotive sector and introduction of novel products such as automotive V belts in the market is estimated to boost market growth in the upcoming years. Increasing adoption of automotive V-belts for power transmission in passenger cars, light duty trucks, and personal vehicles is expected fuel market advancements.

The V belt market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the automotive industry, rising retrofit activities, increasing adoption of advanced machinery and equipment to improve overall productivity and reduce downtime, and existence of well-established industrial infrastructure in the region.

Asia-Pacific region is predicted to hold major market share in the V belts market with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with rapidly growing automotive manufacturing, strong economic growth and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the V belts market are Toyoda Gosei Co., ZF TRW Automotive Holdings Co., Denso Co., Takata Co., Continental AG, Hyundai Mobis Co., Robert Bosch GmbH, and Tokai Rika Co.

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January 9, 2019: This report studies the global Tool Belts market status and forecast, categorizes the global Tool Belts market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, and other regions (India, Southeast Asia).

The major manufacturers covered in this report

• Plano
• CK
• Bahco
• RS Pro

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• Apex Tool Group Mfr.
• Stanley Tools
• Fluke
• Facom
• Energizer
• Amprobe
• Greenlee
• Jonard

Read Complete Report with TOC @ https://www.radiantinsights.com/research/global-tool-belts-market-research-report-2018

Geographically, this report studies the top producers and consumers, focuses on product capacity, production, value, consumption, market share and growth opportunity in these key regions, covering

• North America
• Europe
• China
• Japan
• Southeast Asia
• India

On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into

• Leather Types
• Canvas/Nylon Types
• Other Types

On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including

• DIYers
• Carpenters
• Electricians
• Construction Professionals
• Others

The study objectives of this report are:

• To analyze and study the global Tool Belts capacity, production, value, consumption, status (2013-2017) and forecast (2018-2025);
• Focuses on the key Tool Belts manufacturers, to study the capacity, production, value, market share and development plans in future.
• Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.

In this study, the years considered to estimate the market size of Tool Belts are as follows:

• History Year: 2013-2017
• Base Year: 2017
• Estimated Year: 2018
• Forecast Year 2018 to 2025

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