Conveyor Belt Market prepared for Growth in 2019 starting to replace yellow vehicles to reduce cost of operations per metric/ton output. Conveyor belt systems are an unsung but vital tool in modern industrial facilities. Crucial in process automation, these material handling devices transport bulk materials across a manufacturing or distribution facility, gradually removing the need for a truck or other form of manual movement and increasing production speed, efficiency, and output.
Used to perform several functions in industrial applications, including finishing, material handling and fabrication, assembly, distribution, and order fulfillment, conveyor systems are also used for coal and ore mining, cement and fertilizer plants. Growth Potential
The global conveyor belt market is set to reach an estimated value of U.S. $6.3 billion by the year 2023 . This growth can be attributed to the following industries:
key driver for growth over the next 4 years are considered the Manufacturing( cement, fertilizer and commodities) Industrial applications ( Mining , Steel, Power Generation and construction)
In the industrial sector, this growth is fueled largely by growing demands in the power, mining, steel manufacturing, and construction industries. Heavy competition in these sectors has also forced companies to become reliant on tools and equipment, with their focus shifting from price focus to total cost of ownership focus such as conveyor belts, that increase their productivity, efficiency, profitability, and ability to reduce downtimes and automate processes.
In terms of growth contribution by region, Asia is seen as the leading market ( Indonesia, Thailand, Miramar and Laos) followed by North America and Latin America. Other regions expected to influence conveyor belt market growth include the Middle East, Australia and Africa.
Excessive supply from conveyor belt companies is, however, anticipated to limit market growth. Until demand outpaces supply, oversaturation of inventory will negatively impact market growth.
To support companies to extend and improve their manufacturing and supply footprint in China and Asia AMC provides OEM manufacturing management in China with full supply chain management and own on site process and quality engineers , for ad hoc order support, projects and supply contracts, meeting all international technical requirements at the highest quality standards and service.
for more info please contact: info@AMC-Consultinggroup.com
Business News | March 14, 2019
Business News | April 9, 2019