Conveyor belt: Key market research findings
- Growing use of environmentally friendly conveyor belts
- Advancement of conveyor belt technologies
Technavio has released a new market research report on the conveyor belt market in China, which is expected to grow at a CAGR of around 6% between 2016 and 2020. Conveyor belts are primarily used in industries for transportation of machineries and goods such as electronics, aviation, automobiles, and construction. Owing to their versatility, light weight, and cost-effectiveness, conveyor belts are the most widely used mechanical handling equipment. Rise in infrastructural activities, such as malls and airports, and the rapid growth of manufacturing activities in process and discrete manufacturing industries are also factors that are driving the growth of the conveyor belt market in China.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the latest trends in the conveyor belt market in China is the adoption of the environmentally friendly conveyor belt, especially a pocket conveyor belt. These belts are extremely curve-negotiable, ultra-ecofriendly in performance, and economical. They are pouch-shaped and carry bulk materials. Since these belts are closed during their return as well, they eliminate soiling of the conveyor system due to spillage and dust pollution. This provides complete protection to the materials being transported and prevents the system from becoming dirty. Moreover, these belts also have self-cleaning properties,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
Of late, the textile conveyor belts are replacing the steel cord conveyor belts; however, their adoption rate is slow owing to their high prices. This has pushed several manufacturers to develop low-cost conveyor belts with high technology and high strength. For instance, they are coming up with bulletproof aramid fabric conveyor belts, which are about 40% lighter than steel conveyor belts and have higher strength. Also, several vendors are incorporating electronic intelligence into the conveyor belt systems for monitoring the speed, tension, torque, force, vibration, power, and temperature for increased operational efficiency.
The leading vendors in the conveyor belt market in China are Bando Chemical Industries, Bridgestone, ContiTech, Habasit, QingDao Rubber Six Conveyor Belt, and Zhejiang Double Arrow Rubber. The market comprises a variety of manufacturers that produce one or a few types of belts domestically to sell to major international players, which offer a range of conveyor belt types such as steel cord conveyor belts, rubber conveyor belts, and textile conveyor belts. Intense competition prevails in this market which has propelled vendors to differentiate their service and product offerings through a strong and unique value proposition.
A more detailed analysis is available in the Technavio report, Conveyor Belt Market in China 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
