According to the latest research report, the global rubber conveyor belt market is expected to record 3.8% CAGR during the forecast period 2019-2026

Selbyville, DE -- (SBWire) -- 06/25/2020 --The global rubber conveyor belt market has emerged as a lucrative investment avenue in recent years and is set to foresee massive growth in the future owing to the increasing adoption of rubber conveyors in various industries. The market is specifically set to witness immense growth in coming years due to an increasing demand from the global mining, power generation, and manufacturing industries.

Across industries rubber conveyor belt systems have essentially become an integral mode of ferrying material in bulk at a faster rate than other options, helping save time. Rubber conveyor belt systems consists of multiple pulleys which transport material that is placed on the rubber belt that rotates around them. These systems are commonly used as material hauling solutions across automated distribution as well as warehousing settings. This system of material transportation is considered an extremely efficient and labor saving process, which makes material hauling more streamlined.

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According to the latest research report, the global rubber conveyor belt market size is likely to surpass $4 billion valuation by 2026.

Following is a brief overview of the top 3 trends that are fueling rubber conveyor belt market growth:

Increasing adoption in the mining sector

In terms of application, the mining industry is expected to generate tremendous demand for rubber conveyor belts over the forthcoming timeframe. Rubber conveyor belts are extensively used across open pit mining and underground mining operations since they provide efficient bulk transportation for materials over long, medium, and short distances through difficult to traverse terrains.

In fact, when it comes to long-distance coal conveying, these conveyors are extensively used owing to their flame-resistant, oil-resistant, anti-abrasive, and heat resistant traits and the entire system's power-saving capabilities.

Currently, the mining industry is witnessing a significant escalation in production as improving economic conditions and growing population is creating immense demand for commodities like coal, iron ore, and copper, which is further fueling the market growth.

Growing demand for textile reinforced rubber conveyor belts

in terms of material, the textile reinforced rubber conveyor belts market is anticipated to witness promising growth. In 2018, the region generated a lucrative revenue of more than $3 billion. Textile-reinforced conveyor belts are extensively used across numerous industries since they are made of polyester and nylon blends.

This blend provides significant tensile strength as well as exceptional fatigue and abrasion resistance. These belts also boast of good dimensional stability and very low moisture absorption, which is augmenting the segment share in the market.

Rising demand from the U.S. manufacturing sector

The North America rubber conveyor belt industry is slated to witness exceptional growth led by the U.S. The region is witnessing the rising need for conveyor belts due to the growing demand from its the manufacturing and mining sectors.

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The United States is considered as one of the top mining nations with regional mineral deposits spanning from a wide variety of non-ferrous and ferrous metals. The presence of a number of mining companies in North America are further slated to provide a boost to the regional product adoption. As a result, the regional industry is projected to surpass a $1.5 billion valuation by 2026.

The competitive landscape of the global rubber conveyor belt market is inclusive of players like ARTEGO, Oxford Rubbers, SIG Societa Italiana Gomma, Garlock, Bando, LUTZE, Trelleborg, Fenner, ContiTech, YOKOHAMA, and Bridgestone Corp. among others.

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