DUBAI, UAE. 23th September
2019: Heavy Duty Conveyor Belts Market is
expected to grow at a significant CAGR in the upcoming period as the scope and
its applications are rising enormously across the globe. The conveyor is
mechanical equipment exclusively used to move packages and other items without
any manual efforts. Heavy duty conveyor belts are mainly compounded and
designed to offer a longer service life for most bulk handling applications.
These belts comprise flame retardancy and oil & temperature-resisting
properties.
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The factors that are playing a major role in the growth of
heavy duty conveyor belts industry are the growing automotive and food
industries, the rising use of enhanced technology, easy to install,
cost-efficient, and the growing number of airports and malls in the developing
regions. However, the presence of substitutes may restrain the overall market
in the years to come. Heavy duty conveyor belts market is segmented based on
type, cover thickness, material, application, and region.
Based on the material, skeleton material and rubber could
classify heavy duty conveyor belts market in the forecast period. The skeleton
material comprises a steel wire or nylon. The market may be categorized based
on applications like oil & gas, mining, transportation, industrial,
construction, and others that could be explored in heavy duty conveyor belts in
the forecast period.
Globally, Asia Pacific accounted for the significant share
of heavy duty conveyor belts industry and is estimated to lead the overall
market in the years to come. The reason could be the developing infrastructure
in urban areas like industries and malls, the rise in disposable income, and
the rapid urbanization. The developing countries like India and China are the
major consumers of heavy duty conveyor belts in this region.
Europe and North America are also estimated to have a
positive influence on future growth. Europe is the second largest region with
significant market share. However, Europe is estimated to grow at the highest
CAGR in the forecast period. England, Germany, and Italy are the major
consumers of heavy duty conveyor belts in this region.
The key players of heavy duty conveyor belts market are
Shandong Phoebus, Continental AG, Zhejiang Sanwei, Bando, Trelleborg, Fenner,
Bridgestone, Yokohama, Zhejiang Double Arrow, and Baoding Huayue. These players
are concentrating on inorganic growth to sustain themselves amidst fierce
competition.
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Market split by Type,
can be divided into:
• Multiply Fabric Conveyer Belts
• Steel Cord Conveyor Belts
• Solid Woven Conveyor Belts
Market split by
Application, can be divided into:
• Mining
• Industrial
• Construction
• Transportation
• Oil & Gas
• Others
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