According to the latest report by IMARC Group, titled “India Conveyor Belt Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The India conveyor belt market size reached US$ 503.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 709.6 Million by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.
Industry Definition and Application:
A conveyor belt is a mechanical strip that is used to move things in a variety of material handling activities. Controlling the product movement allows it to transport things in a straight line or across varied elevation angles or orientations. They are produced from polyvinyl chloride and a variety of other materials, including styrene-butadiene rubber, thermoplastics, nylon, polyesters, and so on. These belts are cost-effective, fire-resistant, and easy to use, and are widely used in a variety of industries, including chemical, manufacturing, aviation, and mining.
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India Conveyor Belt Market Trends and Drivers:
The India conveyor belt market is primarily driven by rising industrialization levels and expanding infrastructure building activities. Aside from that, they are gaining popularity in the mining industry for transporting ores, concentrates, tailings, and other materials throughout the mining cycle. Furthermore, various product advancements, such as the creation of textile-reinforced and steel cord-reinforced belts, are propelling market expansion. Furthermore, the growing integration of the Industrial Internet of Things (IIoT) with connected devices for enhanced operational efficiency, profitability, safety, and so on is a growth driver. Aside from that, rising product utilization in aircraft compartments for baggage handling and cargo transport, as well as in automobile manufacturing facilities for moving massive engines, vehicles, trucks, and so on, is predicted to propel the India conveyor market.
The report has segmented the market on the basis on region, type, end use.
Breakup by Type:
- Medium-Weight Conveyor Belt
- Light-Weight Conveyor Belt
- Heavy-Weight Conveyor Belt
Breakup by End Use:
- Mining and Metallurgy
- Chemicals, Oils and Gases
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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