Technavio has announced its latest market research report titled Global Conveyor Belt Market 2020-2024 (Graphic: Business Wire)
Technavio has announced its latest market research report titled Global Conveyor Belt Market 2020-2024 (Graphic: Business Wire)
LONDON--(BUSINESS WIRE )--Technavio has been monitoring the conveyor belt market and it is poised to grow by USD 1.38 billion during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Bando Chemical Industries Ltd., Bridgestone Corp., Continental AG, Daifuku Co. Ltd., Emerson Electric Co., FIVES Group, Goodyear Rubber Products Inc., Honeywell International Inc., Kossan Rubber Industries Bhd, Michelin Group, MRF Ltd., Siemens AG, Taikisha Ltd., Vanderlande Industries BV, and Yokohama Rubber Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Increasing demand for automation in material handling has been instrumental in driving the growth of the market. However, storage and handling challenges of conveyor belt might hamper the market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Download a Free Sample Report on COVID-19 Impacts
Conveyor Belt Market 2020-2024: Segmentation
Conveyor Belt Market is segmented as below:
Conveyor Belt Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The conveyor belt market report covers the following areas:
This study identifies the rising demand for steel cord conveyor belts as one of the prime reasons driving the Conveyor Belt Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Conveyor Belt Market 2020-2024: Key Highlights
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
The Global Conveyor Belt Market will grow by $ 1.38 bn during 2020-2024
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/