The Global Conveyor Belts Market is driven by various factors such as increasing demand for automation in material handling, growth in the e-commerce industry, and the need for efficient and cost-effective transportation systems. The demand for conveyor belts is expected to increase with the growth of industries such as food and beverage, mining, and automotive. The adoption of IoT and Industry 4.0 is also driving the demand for advanced conveyor belts that are integrated with sensors and other automation technologies. However, the high initial investment required for conveyor belt systems and the availability of alternative material handling solutions such as robotic systems and drones may hinder market growth. Additionally, environmental concerns related to the disposal of used conveyor belts and the impact of mining activities on ecosystems may pose challenges for the conveyor belts market in the coming years.
Key Competitors in the Conveyor Belts Industry:
1. Siemens AG
Siemens AG is a German multinational conglomerate founded in 1847 and headquartered in Munich. The company operates in over 200 countries and has a workforce of around 300,000 employees worldwide. Siemens offers a range of conveyor belt systems and solutions for various industries, including automotive, mining, and logistics. In January 2023, Siemens announced the acquisition of a stake in Nexwafe, a start-up developing silicon wafers for the solar industry, to strengthen its renewable energy portfolio.
2. TGW Logistics Group
TGW Logistics Group is an Austrian company founded in 1969 and headquartered in Wels. The company operates in over 50 countries worldwide and provides a range of conveyor belt solutions for the logistics and distribution industry. In December 2022, TGW announced the launch of a new automated goods-to-person system, designed to enhance the efficiency of e-commerce operations.
3. Emerson Electric Co.
Emerson Electric Co. is an American multinational corporation founded in 1890 and headquartered in St. Louis, Missouri. The company operates in over 150 countries worldwide and provides automation solutions for various industries, including food and beverage, oil and gas, and mining. In October 2022, Emerson Electric announced the launch of a new conveyor belt monitoring system, designed to enhance safety and productivity in mining operations.
4. Intelligrated
Intelligrated is an American company founded in 2001 and headquartered in Mason, Ohio. The company operates in over 100 countries worldwide and provides material handling solutions, including conveyor belt systems, for various industries. In August 2022, Intelligrated announced the launch of a new AI-powered warehouse management system, designed to optimize material handling operations in distribution centers.
5. Daifuku Co. Ltd.
Daifuku Co. Ltd. is a Japanese multinational corporation founded in 1937 and headquartered in Osaka. The company operates in over 30 countries worldwide and provides material handling solutions, including conveyor belt systems, for various industries. In April 2022, Daifuku announced the launch of a new automated storage and retrieval system, designed to enhance the efficiency of e-commerce operations.
6. Interroll Holding GmbH
Interroll Holding GmbH is a Swiss company founded in 1959 and headquartered in Sant'Antonino. The company operates in over 30 countries worldwide and provides a range of conveyor belt solutions for various industries, including food and beverage, automotive, and pharmaceuticals. In February 2022, Interroll announced the launch of a new modular conveyor platform, designed to provide flexibility and scalability in material handling operations.
7. Vanderlande Industries B.V.
Vanderlande Industries B.V. is a Dutch company founded in 1949 and headquartered in Veghel. The company operates in over 100 countries worldwide and provides material handling solutions, including conveyor belt systems, for various industries, including airports, logistics, and postal and parcel services. In January 2022, Vanderlande announced the launch of a new automated baggage handling system, designed to enhance the efficiency and security of airport operations.
8. Taikisha Ltd.
Taikisha Ltd. is a Japanese company founded in 1913 and headquartered in Tokyo. The company operates in over 20 countries worldwide and provides environmental engineering solutions, including conveyor belt systems, for various industries, including automotive, electronics, and pharmaceuticals. In December 2021, Taikisha announced the launch of a new cleanroom conveyor system, designed to enhance the efficiency and cleanliness of material handling operations in pharmaceutical manufacturing.
9. Fives
Fives is a French multinational corporation founded in 1812 and headquartered in Paris. The company operates in over 30 countries worldwide and provides engineering solutions, including conveyor belt systems, for various industries, including aerospace, automotive, and energy. In November 2021, Fives announced the launch of a new automated conveyor system, designed to enhance the efficiency and safety of material handling operations in automotive manufacturing.
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*Definition- Conveyor belts are mechanical systems used to transport materials, products, and goods from one point to another within a facility or production process, typically consisting of a belt connected to rollers or pulleys.
