December 17, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Rubber Conveyor Belt Market Size By Material (Steel Reinforced Conveyor Belts, Textile Reinforced Conveyor Belts, Solid Woven Belts [Performance Textiles, Commodity Textiles]), By Application (Light-weight, Medium-weight, Heavy-weight), By End-use (Mining, Cement Manufacturing, Power Generation, Recycling, Metal Processing), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, the global rubber conveyor belt market is anticipated to surpass USD 4 billion by the year 2026.
The rising demand across mining, power generation, and manufacturing industries will drive the growth of rubber conveyor belt market. The belt is flame-resistant, anti-abrasive, oil resistant, heat resistant, and possess power saving capability which makes it apt for coal conveying. It is extensively utilized in open pit mining and underground mining applications, as it enables easy and efficient transportation of bulky material through steep terrains, hence augmenting the market growth.
Based on material type, steel reinforced conveyor belt has high tensile strength along with excellent impact resistance property and exhibits only slight elongation even over long conveyor distances. However, textile reinforced rubber conveyor belts market was worth USD 3 billion in 2018, owing to properties like low moisture absorption, good dimensional stability, great strength, along with high abrasion and fatigue resistance.
Speaking of applications, rubber conveyor belt market from light-weight applications is presumed to attain a growth rate of 3% through the year 2026. These belts have lower tensile strength and are used for carrying light weights within a plant or production facility.
In terms of end-use spectrum, rubber conveyor belt market is bifurcated into mining, power generation, cement manufacturing, metal processing, and recycling. The mining sector dominated the market with 41% revenue share in 2018.
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Considering geographical landscape, Asia Pacific leads the global rubber conveyor belt market presently, owing to the presence of various end-use industries. On the other hand, North America rubber conveyor belt market is projected to cross USD 1.5 billion by the year 2026, due to prevalence of mining companies acorss the region.
Some of the vendors that operate in rubber conveyor belt market are Yokohama, Bridgestone, Fenner, Trelleborg, ContiTech, Bando, Lutze, SIG Societa’ Italiana Gomma, Garlock, Oxford Rubbers, and Artego among others.
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