The conveyor belt market is projected to expand significantly by 2027 owing to the booming food & beverage industry worldwide.

Conveyor belts are an indispensable part of the production facilities of various types of industries, especially the mining, quarrying, and mineral processing industries. Increasing mining activities across the world have fueled industry uptake over the past few years.

To accommodate the surging demand for conveyor belts across the food & beverages manufacturing sector, industry players have been employing profitable strategies, thereby enhancing the overall business dynamics. For instance, in December 2021, Intralox, LLC., a key manufacturer of conveyor belts, launched its novel radius conveyor belt for the food industry, dubbed the Intralox® Series 2400 Radius belt with Heavy-Duty Edge (HDE). The innovative radius conveyor belt has been designed to extend belt life and reduce downtime, thereby improving overall production efficiency.

The conveyor belt market has been segmented on the basis of end-use, material, application, product, installation, and region.

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In terms of material, the market has further been divided into polymer, metal, and others. Under polymer, the market has been bifurcated into nylon, polyester, and others.

The polyester sub-segment is expected to reach a notable valuation of around USD 3,945 million by 2027. Widespread application of polyester, which is the most commonly used polymer for manufacturing conveyor belts, is likely to boost segmental development over the assessment timeline.

The nylon sub-segment accounted for a share in demand of more than 7% in 2020 and is slated to exhibit optimistic growth over the study period.

From the product perspective, the conveyor belt market has been categorized into cleated belt, flat belt, and modular belt. The cleated belt sub-segment is speculated to garner considerable gains by 2027, progressing at a CAGR of approximately 3.5% through the projected timeframe.

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Based on application, conveyor belt market has been classified into heavy weight, medium weight, and light weight. The light weight sub-segment is anticipated to attain an estimation of almost USD 425 million by the end of 2027.

In terms of revenue, the heavy weight sub-segment is slated to expand at a pace of more than 3.5% CAGR over the forecast period.

With respect to end-use, the market has been segregated into general manufacturing, mining, food & beverage, supply chain, power generation, recycling, and others. The recycling sub-segment was valued at about USD 200 million in 2020 and is set to witness robust expansion through 2021-2027.

The supply chain sub-segment is estimated to grow at a CAGR of above 4% over the review period in terms of revenue.

From the regional spectrum, the LATAM conveyor belt market is poised to develop at a growth rate of over 3% through the analysis timeline. The MEA conveyor belt market registered around 8% volume share in 2020 and is likely to expand at a steady pace over the next few years.