Enjoy complimentary customisation on priority with our Enterprise License!
The warehouse and storage conveyor belt market size is forecast to increase by USD 475.32 million, at a CAGR of 5.06% between 2023 and 2028. The growth rate of the market depends on several factors such as the growing use of these belts in the e-commerce sector, the increasing demand for modular conveyor belt systems, and the rising adoption of conveyor robotics and AGVs. Our report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.
The rapid industrialization in the APAC region, particularly in countries like China, India, and Southeast Asian nations, is fueling the demand for these belts. This surge is driven by the robust expansion of the manufacturing, logistics, and e-commerce sectors, necessitating efficient material handling, storage, and distribution operations in burgeoning industrial hubs. Key players contributing to this demand include Bando Chemical Industries Ltd., offering a range that includes Heat Carry Conveyor Belts, High Impact Conveyor Belts, and Pipe Conveyor Belts. Similarly, Bridgestone Corp provides various warehouse and storage conveyor belts, such as steel conveyor belts, fabric conveyor belts, pipe conveyor belts, energy-saving belts, and ready-made belts, catering to the evolving needs of the dynamic industrial landscape.
Market Forecast 2024-2028
To learn more about this report, Request Free Sample
Our researchers studied the market research and growth data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The global e-commerce sector is witnessing unprecedented growth, fueled by increased Internet accessibility, surging smartphone adoption, and evolving consumer preferences favoring online shopping. To meet the escalating demand for swift and efficient order fulfillment, e-commerce entities are heavily investing in advanced warehouse automation technologies, prominently featuring conveyor belt systems. These technologies streamline logistics operations, optimize warehouse throughput, and address the pressure to deliver orders promptly and accurately.
Furthermore, the integration of advanced technologies like RFID tracking and barcode scanning enhances visibility and control over warehouse operations. The utilization of such systems in e-commerce is exemplified by Dematic Corp's recent project, showcasing the pivotal role these systems play in optimizing warehouse efficiency and resource allocation. As the reliance on such systems grows, the market is poised for significant expansion in the forecast period.
The evolution of conveyor technology has been transformative for the market, ushering in innovation, efficiency, and adaptability in material handling operations. Modular systems, characterized by standardized components and modular design principles, offer easy customization, scalability, and swift reconfiguration to suit specific warehouse layouts and material handling processes. Their flexibility allows quick installations or modifications with minimal downtime, adapting to evolving warehouse requirements. Smart systems equipped with sensors, actuators, and IoT connectivity enable real-time monitoring, data collection, and predictive maintenance.
Additionally, energy-efficient technologies, including variable speed drives, regenerative braking systems, and energy recovery mechanisms, contribute to sustainability and cost reduction in overhead conveyor systems used in warehouse and storage environments. Moreover, the incorporation of flexible systems featuring articulating sections, telescopic conveyors, and bendable belt configurations ensures versatility and maneuverability in material handling applications. As a result, these advancements are poised to propel the demand for overhead conveyor systems during the forecast period, meeting the increasing demand for efficient, adaptable solutions in modern logistics and e-commerce fulfillment operations.
Warehouses and distribution centers face constraints related to limited floor space, irregular layouts, and vertical clearance, making it challenging to install these systems while maximizing space utilization. These system integrators must design solutions that can utilize available space efficiently, such as vertical spaces with mezzanine levels, overhead conveyors, and compact layouts to minimize the footprint of these belt installations. Space constraints often require flexible system configurations that can adapt to varying warehouse layouts, workflows, and storage configurations. These systems with modular components, adjustable lengths, and flexible conveyor routing options enable warehouse operators to customize conveyor layouts to fit within confined spaces, around obstacles, and through narrow aisles without compromising operational efficiency.
Furthermore, achieving optimal throughput rates while operating within constrained spaces requires careful consideration of conveyor speed, accumulation zones, and material handling capacity. These systems must be designed to balance throughput requirements with space limitations, ensuring that conveyor layouts maximize the efficiency of material flow while minimizing congestion, bottlenecks, and dwell times in high-density storage areas. Thus, these factors will hamper the growth of the market during the forecast period.
The market share growth by the floor conveyor belt segment will be significant during the forecast period. Floor conveyor belts facilitate the efficient movement of materials within warehouses, manufacturing facilities, distribution centers, and other industrial settings. Their ability to transport goods horizontally or at a slight incline enables a smooth and continuous flow of materials, reducing the need for manual handling and improving operational efficiency.
Customised Report as per your requirements!
The floor conveyor belt segment was the largest and was valued at USD 1,112.78 million in 2018. Moreover, these belts offer high-speed transportation of goods, enabling rapid throughput and timely delivery of materials within production lines, distribution networks, and logistics facilities. Their ability to move products quickly and consistently ensures smooth material flow, minimizes bottlenecks, and maintains optimal production rates in warehouses, meeting customer demand and delivery deadlines. Furthermore, these belts can be customized and integrated with other equipment, such as sorting systems, packaging machinery, and robotic arms, to create comprehensive material handling solutions that are tailored to specific application requirements. Thus, the advantages of floor conveyor belts, such as efficient material handling, less space utilization, enhanced productivity, and cost savings, will drive the growth of this segment of the market during the forecast period.
Based on the type, the market has been segmented into medium-weight, heavy-weight, and lightweight. The medium weight?segment will account for the largest share of this segment.?As warehouses modernize and expand their operations to accommodate the growing inventory volumes to fulfill increasing customer demand, there is a corresponding need for conveyor belts to facilitate efficient material handling, storage, and distribution processes in warehouses. Also, the versatility and adaptability of medium-weight conveyor belts make them ideal for various material handling applications, such as transporting goods between different areas of the warehouse, loading and unloading trucks, and sorting items for shipping. Furthermore, medium-weight conveyor belts offer flexibility and scalability, allowing warehouses to adjust their systems to accommodate changing business needs and seasonal fluctuations in demand. These belts can be configured, expanded, or reconfigured easily to adapt to evolving warehouse layouts, workflows, and throughput requirements. Thus, these factors will enhance the growth of the segment during the forecast period.
For more insights on the market share of various regions Download Sample PDF now!
APAC is estimated to contribute 47% to the growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. Additionally, urbanization and infrastructure development projects in APAC countries such as Japan and India are leading to the construction of new warehouses, distribution centers, and logistics hubs to support urban growth and supply chain networks. Moreover, government initiatives aimed at promoting industrial development, the modernization of logistics infrastructure, and investments in smart manufacturing technologies drive growth in the regional market. Public-private partnerships, infrastructure projects, and incentives for industrial automation are encouraging the adoption of these systems in APAC countries, boosting regional market growth.
Furthermore, these belt manufacturers are forming strategic partnerships and alliances and are expanding their distribution networks to increase their presence in APAC markets and capitalize on growth opportunities. Collaborations with regional and global companies and technology providers, such as automation technology providers, enable belt manufacturers to penetrate diverse market segments, understand regional preferences, and deliver customized solutions tailored to the needs of customers in APAC. Such factors are expected to drive the regional market growth during market growth.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Continental AG - The company offers warehouse and storage conveyor belts such as the Continental vacuum filter belts and Continental belts for screening.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including Bando Chemical Industries Ltd., Bridgestone Corp., Continental AG, Daifuku Co. Ltd, Elastomerik Belts Pvt Ltd., Emerson Electric Co., Fenner Conveyers, FIVES SAS, Goodyear Rubber Products Inc., Honeywell International Inc., Interroll Holding AG, Intralox LLC, Monk Conveyors Ltd., MRF Ltd., Siemens AG, Taikisha Ltd., TGW LOGISTICS GROUP GmbH, Toyota Industries Corp., Vanderlande Industries BV, and Yokohama Rubber Co. Ltd.
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. .
The market is vital for the seamless movement of goods, products, and raw materials in the material handling and packaging industries. These systems, a result of continuous research and development (R&D), play a crucial role in automated production lines, efficiently transporting electronic devices. With on-site maintenance and various installation types, including stationary setups, these belts are indispensable in the food and beverage sector. The market's growth is influenced by factors such as population growth, rising per capita income, and the prevalent take-out lifestyle, especially in food and beverage manufacturing facilities. As a linchpin in modern logistics, the market remains essential for optimizing supply chain processes worldwide.
|
Market Forecast Scope |
|
|
Report Coverage |
Details |
|
Page number |
161 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.06% |
|
Market Growth 2024-2028 |
USD 475.32 million |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.24 |
|
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
|
Performing market contribution |
APAC at 47% |
|
Key countries |
US, China, Japan, India, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Bando Chemical Industries Ltd., Bridgestone Corp., Continental AG, Daifuku Co. Ltd, Elastomerik Belts Pvt Ltd., Emerson Electric Co., Fenner Conveyers, FIVES SAS, Goodyear Rubber Products Inc., Honeywell International Inc., Interroll Holding AG, Intralox LLC, Monk Conveyors Ltd., MRF Ltd., Siemens AG, Taikisha Ltd., TGW LOGISTICS GROUP GmbH, Toyota Industries Corp., Vanderlande Industries BV, and Yokohama Rubber Co. Ltd. |
|
Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
