Heavy-Duty Conveyor Belts Market Will Witness Substantial Growth in the Upcoming years by 2028
The global Heavy-Duty Conveyor Belts Market crossed a valuation of USD 4.49 Billion in 2020 and is expected to reach USD 6.73 Billion by 2028. The valuation of heavy-duty conveyor market is attributed to its application in various industries. This report assesses all the essential aspects, from the size, share, demand, growth, gross profits, earnings to the net revenue of the entire industry based on the data gathered from the years 2016 and 2017 while taking 2018 as the base year to give an exclusive understanding of the market and its future.
A conveyor belt is the carrying medium in a conveyor belt system which is an endless loop consisting of two or more pulleys/drums. A heavy-duty conveyor belt mainly comprises rubber, and a frame made up of nylon or a steel wire. Heavy-duty conveyor belts can withstand the pressure of demanding use and so are used in heavy-duty industries such as steel, coal, cement, mining, building construction, and other industries. The increasing industrialisation is the primary factor contributing to the growth of the heavy-duty conveyor belts market. The conveyor belt industry heavily relies on product cost and performance. The fluctuating price of raw materials may pose a challenge to the heavy duty conveyor belts market. The high maintenance cost because of mechanical damages, wear & tear, and the surge in capital investments are some of the restraints.
Key players in the global Heavy Duty Conveyor Belts market:
Continental AG Bridgestone Trelleborg Zhejiang Double Arrow Rubber Co. Ltd Bando Group Baoding Huayue Rubber Belts Co., Ltd. Zhejiang Sanwei Rubber Item Co. Ltd Shandong Phoebus Rubber Co. Ltd Wuxi Boton Belt Co., Ltd. Zhangjiagang Huashen Anhui ZhongYi Rubber Belts Co. Ltd Fuxin Shuangxiang Ltd QingDao Rubber Six Conveyor Ltd Hebei Yichuan Rubber Conveyor Belt Group Co. Ltd Sempertrans Smiley Monroe