Bando Chemical Industries, Ltd., Fenner Conveyor Belting Pvt Ltd, Intralox LLC, Volta Belting Technology Ltd, and Fives Group, among others, are the major players in the global conveyor belt market.
The global conveyor belt market stood at USD 5.87 billion in 2020. The market is estimated to grow at a CAGR of 3.8% in the forecast period of 2022-2027. As per the analysis of Expert Market Research, the market is being driven by the surging need for rapid delivery and production techniques.
Conveyor belts are extensively used in various end-use sectors to reduce the transportation time of materials and the production cost of end products, hence augmenting the market growth. Moreover, the growing hygiene and safety regulations in the food and beverage sector are prompting the development of conveyor belts from advanced materials that facilitate microbe resistance.
Technological advancements are leading to the development of innovative conveyor belts that can automate material handling. Moreover, the demand for automated conveyor belts is significantly rising in various end-use sectors on account of their enhanced flexibility and high-volume handling capabilities. Economic benefits, ease of cleaning, increased productivity and comfort, ease of usage, and effective handling of diverse materials and products offered by automated conveyor belts are likely to bolster their demand.
With the growing demand for conveyor belts, various leading companies are increasingly investing to enhance their production capabilities. For instance, in November 2021, Intralox announced a USD 60 million expansion of its operations at its Hammond plant which manufactures plastic conveyor belts utilised in e-commerce, food, and industrial sectors. The investment enables the company to increase its assembly and moulding operations, double its footprint, and meet consumer demand across the globe.
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Bando Chemical Industries, Ltd. is a leading provider of industrial and automotive power transmission belt products, electronic products, cleaning blades, precision belts, medical films, and industrial films, among others. In the financial year ended in March 2022, the company employed 4,122 people and attained consolidated sales worth JPY 10,951 million. With its bases in 15 countries, the company deploys innovative technologies to meet diverse requirements like enhanced abrasion resistance and elasticity.
|Headquarters:||Tamil Nadu, India|
Fenner Conveyor Belting Pvt Ltd is a member of Fenner Dunlop Conveyor Belting Worldwide. The company constantly innovates and advances its flagship product, Fenaplast, through its expertise in polymer and fabric weaving technology and conveyor belt applications. Its flagship product is extensively utilised in mining activities on account of its several advantages, including fire resistance, edge wear resistance, and excellent mechanical fastener retention, among others.
|Headquarters:||Louisiana, United States|
Intralox is a major conveyance solutions provider. The company provides various innovative services and products for food processing, industrial manufacturing, and logistics and material handling industries. It has served over 60,000 customers in more than 100 countries worldwide. In 2021, its investment in invention and innovation surpassed USD 30 million.
Volta Belting Technology provides high-quality products and services for companies in several industries like food processing, glass production, automotive, ceramics and roof tiles, and recycling industries. The company offers its technical and sales services in over 60 countries. Through its innovative solutions, it strives to provide high-quality and hygienic services for use in both food and non-food applications.
Fives is a leading supplier and designer of process equipment, machine lines, and production lines for the industrial sector. The company offers flexible and precise machining solutions, automated composite processing solutions, precision machine tools and grinding solutions, metal cutting solutions, and various services. With a wide presence in 25 countries across the world and an employee base of 8200, the company’s sales revenue in 2021 was EUR 1.72 billion. Moreover, the company’s R&D expenditure across its 31 research and test centres reached EUR 28.3 million in 2021.
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