TechNavio recognizes the following companies as the key players in the Conveyor Belt Market in India: Forech India Ltd., Oriental Rubber Industries Ltd., Phoenix Conveyor Belt India Pvt. Ltd., and Somi Conveyor Beltings Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “The Conveyor Belt Services segment includes activities such as installation of conveyor belts, maintenance of and technical support for conveyor belts, and replacement of the parts of conveyor belts. Since there has been an increase in the adoption of conveyor belt products across various industries in India, there has been increased need for the conveyor belt servicing activities. The typical lifespan of a conveyor belt product varies from two to five years; after this there is need for replacement of or repair work on the conveyor belt or part of the conveyor belt. Some of the major players in India providing conveyor belt services are Thejo Engineering Ltd., Oriental Rubber, International Conveyors Ltd., Somi Conveyor Beltings, Oriental Rubber, Tega Industries, and Vega Conveyors & Automation.”
According to the report, the growth in production in the Coal Mining industry in India, which is a major end-user of conveyor belts, is expected to drive higher demand for conveyor belts during the period 2012-2016. India’s Twelfth Five Year Plan (2012-2017) has projected better growth prospects in industries such as Cement, Steel, and Ports, which are some of the major end-users of conveyor belts in India. The growth in these industries is expected to drive higher demand for conveyor belts in India in the coming years.
Further, the report states that one of the major challenges being faced is the lack of technology upgradation. Use of traditional skills and dependence on foreign players for new technology has added to the lack of innovation in the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/conveyor-belt-market-india-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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TechNavio Announces the Publication of its Research Report -Conveyor Belt Market in India 2012-2016
