20 March 2019 – Global 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.
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.
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Market split by Type, can be divided into:
- Multiply Fabric Conveyer Belts
- Steel Cord Conveyor Belts
- Solid Woven Conveyor Belts
Based on the cover thickness, 2 ply flame retardant, 2 ply standard black heavy duty, 2 and 3 ply moderate oil resistance, 3 ply standard black heavy duty, 4 ply standard black heavy duty, and others could classify heavy duty conveyor belts in the forecast period. 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.
Market split by Application, can be divided into:
- Oil & Gas
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.
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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.
Leading players of Heavy Duty Conveyor Belts including:
- Continental AG
- Zhejiang Double Arrow
- Baoding Huayue
- Zhejiang Sanwei
- Shandong Phoebus
- Wuxi Boton
- Zhangjiagang Huashen
- HSIN YUNG
- Fuxin Shuangxiang
- Anhui Zhongyi
- QingDao Rubber Six
- Hebei Yichuan
- Smiley Monroe