Pune, India -- (SBWIRE) -- 12/19/2019 -- A new report published by Infinium Global Research on "Conveyor Belt Market(Type - Overhead, Roller, Floor, Pallet, and Crescent; Belt Type - Lightweight, Medium-weight, and Heavy-weight; End-user - Retail, Poultry and Dairy, Food & Beverage, Automotive, Industrial, and Other End-user): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025." A conveyor belt is a continuous moving band made of rubber, fabric or metal that is used to transport objects from one place to another. It is a must that the thickness of the material of the conveyor belt is maintained with consistency for better performance. The global conveyor belt market is projected to grow at a CAGR of 3.6% over the forecast period of 2019-2025.

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Growth in Automotive Industry Drive the Growth of the Global Conveyor Belt Market

The rising demand for the e-commerce industry propels growth for the conveyor belt market. The growing use of conveyor belts in handling materials in different sectors as mining, cement, steel, and iron enhances growth for the conveyor belt market. Growth in the automotive industry drives the growth of the global conveyor belt market. Macroeconomic factors such as growing GDP enhance growth for the Conveyor Belt market. Rise in demand from packaged food product industry and surging drive in air passenger journey fuel the growth of the Conveyor Belt market.

Food and Beverage Segment Holds the Largest Share and Expected to Propel Growth Over the Forecast Period

According to the analyst, the scope of the market is analyzed on the basis of type, belt type, and end-user. Based on type the study includes overhead, roller, floor, pallet, and crescent. Based on belt type the market includes lightweight, medium-weight, and heavy-weight. The medium-weight conveyor belt segment holds a dominant share in the global conveyor belt market. The lightweight conveyor belt segment is the rapidly growing market owing to the constant usage of belts in the food and beverage packaging industries.

Based on end-user the study includes retail, poultry and dairy, food & beverage, automotive, industrial, and other end-users. The food and beverage segment is anticipated to hold a dominant share in the global conveyor belt market owing to usage in various applications such as food processing, packaging and conveying systems.

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Major Key Players in the Conveyor Belt Market

Based on the analysis of the market the leading companies in the study include TGW Logistics Group, Siemens AG, Emerson Electric Co. Pvt. Ltd., Honeywell Intelligrated, Daifuku Co. Ltd., Taikisha Global Ltd., Fives Group, Interoll Holding GmbH, Vanderlande Industries B.V., Swisslog Holding AG, and other companies.

In April 2019, Daifuku acquired Vega Conveyors and Automation Pvt. Ltd. "We are excited to be part of the Daifuku Group, the world's top manufacturer and supplier in the material handling industry," Garimella Srinivas, Managing Director, Vega. "We look forward to sharing resources and improving our services to the Indian market." In February 2019, Emerson Electric Co. Pvt. Ltd. completed the acquisition of General Electric's Intelligent Platforms.

Dominance Accounted for Asia-Pacific in the Global Conveyor Belt Market

Geographically, Asia-Pacific holds the largest share in the global conveyor belt market. Rising industrial investments in emerging countries like China, India fuel growth for the conveyor belt market in the region. North America is projected to grow at a steady pace owing to growing infrastructural development in the region.

About Infinium Global Research
Infinium Global Research provides in-depth insight regarding the market, its trends, indicators, and factors that drive and restrain the growth of the market. IGR expertise in the analysis of the market growth using analytical tools, that were also used to analyze the market for the Conveyor Belt market.

Moreover, IGR has also covered related topics with the Conveyor Belt market, such as. Other than, automotive IGR also deals in the field of agriculture, food and beverage, aerospace and defense, chemical and materials, healthcare and medical devices, consumer goods and packaging, energy, infrastructure and mining, ICT, semiconductors and electronics and industrial automation.  

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Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the conveyor belt.

=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.