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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 14, 2023/EINPresswire.com/ -- The global Heavy Duty Conveyor Belts Market was USD 3.40 Billion in 2021 and is projected to experience a compound annual growth rate (CAGR) of 4.0% during the forecast period. The main drivers of revenue growth in the heavy duty conveyor belt market are increasing industrialization, a growing mining industry, and the rapid expansion of warehouses and distribution centers for online retailers.

A conveyor belt is a continuous loop system used for transporting materials, consisting of two or more pulleys or drums. It is designed to withstand tearing, abrasion, and wear. Heavy duty conveyor belts are primarily made of rubber and feature a nylon or steel wire frame. These belts are widely used in heavy-duty industries such as steel, coal, cement, mining, and building construction, among others, due to their ability to handle the demanding pressures of these applications.

The market is expected to grow as a result of the increasing industrialization and urbanization in emerging countries, which will lead to heightened activity in sectors such as mining, oil and gas, and construction. By utilizing these belts in various industries, time is saved, processes are optimized, and productivity is enhanced during the movement of goods from one location to another. Additionally, the construction of new airports in response to rising air traffic and the demand for luggage handling will contribute to the revenue growth of the heavy-duty conveyor belt market. Furthermore, the use of heavy duty conveyor belts in the building and construction industries, as well as the food and beverage (F&B) sector, will drive market expansion due to the growing demand and consumption.

Before the advent of industrial conveyor belts, manufacturers and suppliers heavily relied on manual labor. However, concerns regarding workforce safety and product quality prompted the adoption of conveyor belt systems. These systems, consisting of rotating pulleys and belts, are now widely used for product handling in various industries. Industrial conveyor belts are typically constructed from materials such as leather, rubber, PVC, urethane, neoprene, nylon, and polyester. These materials are layered together to provide strength and shape. The innermost layer, known as the body, is made of cotton, nylon, or polyester, while the outermost layer, called the cover, is composed of various rubber or plastic materials.

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Segments Covered in the Report

The heavy duty conveyor belts market offers various product types that contribute to its revenue. These product types include multiply fabric conveyor belts, steel cord conveyor belts, and solid woven conveyor belts. The revenue generated by these product types is measured in USD billion and spans the period from 2019 to 2030.

In terms of deployment, the heavy duty conveyor belts can be categorized into two outlooks: portable and stationary. The revenue generated by the portable and stationary deployment of these conveyor belts is measured in USD billion and covers the period from 2019 to 2030.

Furthermore, the heavy duty conveyor belts find applications in various industries. These applications include mining, industrial, construction, transportation, oil & gas, and others. The revenue generated by these applications is measured in USD billion and spans the period from 2019 to 2030.

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Strategic development:

Continental, a multinational company, completed the acquisition of NorrVulk AB, a Swedish-based company specializing in conveyor belt systems and services, on 4 July 2022. This strategic acquisition aims to broaden Continental's portfolio of conveyor belt systems and related services, enabling them to better serve industrial customers in the region.

In another development, Martin Engineering, a leading provider of bulk handling equipment solutions worldwide, introduced its innovative N2 remote monitoring system for conveyor belt cleaners. This system was launched on 28 June 2022 and targets markets in the Middle East & Africa, Europe, and South Asia. The N2 remote monitoring system enhances efficiency and effectiveness by enabling remote monitoring and maintenance of conveyor belt cleaners, offering improved performance and convenience 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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