Wiseguyreports.Com Adds “Conveyor Belt Market to Grow at CAGR of 6% 2016 and Forecast to 2020” To Its Research Database.
This market study covers the growth prospects of the conveyor belt market in China with segmentations based on material (heavyweight, medium-weight, and lightweight conveyor belt) and type (PVC conveyor belts, PU conveyor belts, and Teflon-coated conveyor belts). It also includes an insightful analysis of the leading vendors in this market, including Bando Chemical Industries, Bridgestone, ContiTech, Habasit, QingDao Rubber Six Conveyor Belt, and Zhejiang Double Arrow Rubber.
Overview of the conveyor belt market in China
Technavio’s market research analyst predicts that the conveyor belt market in China to grow at a notable CAGR of more than 6% in terms of the production volume by 2020. Due to rapid urbanization, there is an underlying demand for power and minerals in China. The power, mining, and manufacturing industries are highly dependent on conveyor equipment such as conveyor belts, rollers, overhead conveyors, and pallet conveyors for the production, storage, and transfer of materials. Therefore, an augmented demand from power, mining, and manufacturing industries will bolster the growth prospects of the conveyor belt market in China over the forecast period.
With the recent advancements in production technologies, the market for conveyor belts is expected to have a positive outlook until the end of 2020. Due to the recent technological advancements, textile conveyor belts are gradually replacing the steel cord conveyor belts. However, textile conveyor belts are more expensive than steel conveyor belts. Therefore, many manufacturers are developing low-cost conveyor belts with better technology and strength. For instance, manufacturers are developing bulletproof aramid fabric conveyor belts that are up to 40% lighter than conventional steel belts. However, steel belts are more durable and have a longer life span than any other type of conveyor belt. The extended lifespan and durability of steel conveyor belts are expected to drive the market growth for conveyor belts in China.
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Segmentation by material and analysis of the conveyor belt market
Lightweight conveyor belt
Medium-weight conveyor belt
Heavyweight conveyor belt
In this market research, the analyst predicts the medium-weight conveyor belt segment will dominate the market with a market share of more than 60% until the end of 2020. China has cheaper production costs that has led to the setting up of several production facilities for medium-weight conveyor belts there. Also, higher disposable income and improved standards of living are increasing the demand for manufactured goods in China, which will, in turn, increase the demand for medium-weight conveyor belts over the forecast period.
Competitive landscape and key vendors
The conveyor belt market in China is highly fragmented with a variety of manufacturers that produce one or few types of belts. The vendor competition will intensify with the development of new product lines and economical pricing.
The leading vendors in the market are -
- Bando Chemical Industries
- QingDao Rubber Six Conveyor Belt
- Zhejiang Double Arrow Rubber
Other prominent vendors in the market are Ammeraal Beltech, Anhui Zhongyi Rubber Belts, Baoding Huayue Rubber Belts, Chiorino, Fuxin Shuangxiang, GRT Rubber Technologies, Hsin Yung Chien, Hebei Yichuan Conveyor Belt Group, Intralox, Jiangyin TianGuang Technology, Wuxi Lianda Conveyor Belt, Märtens, Mitsuboshi Belting, Nitta, Veyance Technologies, Volta Belting, Wuxi Boton Belt, YOKOHAMA, and YongLi.
- Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the conveyor belt market in China?
What are the key market trends impacting the growth of the conveyor belt market in China?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the conveyor belt market in China?
What are the trending factors influencing the market shares of China?
What are the key outcomes of the five forces analysis of the conveyor belt market in China?
Table of Content
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
- Key market highlights
PART 05: Market landscape
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trend
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