According to the recent research report titled ‘Conveyor Belt Market Size By Material (Metal, Polymer [Polyester, Nylon]), By Product (Flat Belt, Modular Belt, Cleated Belt), By Installation (Portable, Stationary), By Application (Light-weight, Medium-weight, Heavy-weight), By End-use Sector (Mining, Food & Beverage, Power Generation, Recycling, Supply Chain, General Manufacturing), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’ available with MarketStudyReport, global conveyor belt market is poised to expand significantly by 2027.

The major factors driving the global conveyor belt market growth are the growing food and beverage sector, increasing mining activities, and widespread product adoption across the mining sector.

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The overall industry is segmented based on application type, product categories, end-use landscape, material type, and regional analysis.

In terms of material type, the market is divided into metal, polymer, and others. Further, the polymer material market is bifurcated into polyester, nylon, and others. Global conveyor belt market from the polyester segment is estimated to reach USD 3,945 million by 2027 owing to its extensive application for manufacturing conveyor belts.

Meanwhile, the nylon segment held 7% revenue share in 2020 and is predicted to exhibit optimistic growth over the analysis timeline.

In terms of product category, the market is categorized into flat belts, cleated belts, and modular belts. The cleated belt sub-segment is expected to showcase 3.5% CAGR through 2027.

On the basis of application type, global conveyor belt market is classified into a lightweight, heavyweight, and mediumweight. The lightweight segment is estimated to attain a valuation of USD 425 million by 2027. On the other hand, the heavyweight segment is anticipated to surpass 3.5% CAGR over the forecast period.

From an end-use perspective, the market is segregated into recycling, general manufacturing, supply chain, power generation, mining, food & beverage, and others. The recycling segment amassed USD 200 million in 2020 and is set to expand considerably through 2021-2027.

The regional landscape of the global conveyor belt industry involves the Middle East & Africa, Latin America, North America, Europe, and the Asia Pacific. Among these, Latin America market is anticipated to showcase 3% CAGR through the forecast period.

The leading companies operating in the global conveyor belt marketplace are MRF Ltd., S.I.G. Societa Italiana Gomma S.p.A., All-State Belting LLC, Nitta Corporation, Zhejiang Double Arrow Rubber Co. Ltd., Bando Chemical Industries Ltd., Siban Peosa S.A., Intralox LLC, Ammeraal Beltech, Forbo Holding AG, Sempertrans Conveyor Belt Solutions GmbH, Continental Belting Pvt. Ltd., Fenner Group Holdings Ltd., Bridgestone Corporation, The Yokohoma Rubber Co. Ltd., and ContiTech AG.