Industrial Belt Drives Market is expected to grow at a CAGR of 4.46%
The growing demand for automated material handling equipment will drive the growth of the global industrial belt market during the forecast period.
According to TechSci Research report, “Industrial Belt Drives Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029”. In
order to increase customer satisfaction, they are also focused on speeding up
cash flow. This has necessitated the adoption of automated material handling
equipment and is expected to impact various aspects of material handling,
including loading.
Moreover, automated material handling
equipment is a part of the material handling industry. The market is driven by
the fact that the material handling industry contributes significantly to the
global industrial belt, and the adoption of automated material handling
equipment has increased the demand for industrial belt drives. Therefore, the
growing demand for automated material handling equipment will drive the growth
of the global industrial belt market during the forecast period. Mechanization
of agriculture and farm operations in developing economies will play an
important role in the global industrial belt drives market. Industrial machines
are to be adopted by developing countries, which have a high dependence on
agriculture. The subsidization of farm equipment by governments is driving the
adoption of farm equipment and related machinery in developing regions, which
is positively influencing the respective markets.
However, the increase in investments in
assets and improved cash flows among machinery owners will lead to the
replacement of older equipment with new machinery. Therefore, such factors will
drive the growth of the global industrial belt drives market during the
forecast period.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Global IndustrialBelt Drives Market"
Applications such as conveyors, metal-cutting
machines, textiles, steel processing, and packing require high precision in
rotor movement with high speed, hollow shaft, and low vibration. Unwanted noise
can also be created by worn belts and the whole connected system may be
irreparably damaged. Belt drives cannot provide the exact synchronization
between two shafts due to slippage, though synchronized timing belts are
available.
However, end-users prefer electric motor
integrated drive systems. High-precision motors such as stepper and servo motors
provide controlled torque and precision in angular movement. These motors
eliminate problems caused by induction and brushed DC motors, so as to make
applications run smoothly. Factors such as the inefficiency in high-precision
applications and difficulty in operating in harsh environmental conditions will
negatively impact the growth of the global industrial belt drives market during
the forecast period.
The outbreak of COVID-19 had a severe
negative impact on many countries in the region, such as Japan, South Korea,
India, and others, and resulted in the shutdown of all industrial activities in
2020. However, the government initiatives such as conducting massive
vaccination drives across the region in the first half of 2021, helped to
stabilize the situation and led to the resumption of business operations in all
the industrial and manufacturing units. The resumption of business operations
in the end-user industries such as the agricultural industry and others, drive
the demand for industrial belt drives in the region. Moreover, the growth in
the construction industry in the region will foster the growth of the regional
industrial belt drives market. Therefore, the industrial belt drives market in
the region will grow significantly during the forecast period.
Key market players in the Global Industrial
Belt Drives Market are: -
- Dayco IP Holdings, LLC
- Optibelt GmbH
- Hutchinson Group
- Continental AG
- Daifuku Co., Ltd.
- Interroll Group
- Honeywell Intelligrated
- TGW Logistics Group GmbH
- Swisslog Holding AG
Download Sample Report
Customers can
also request for 10% free customization on this report.
“The market share growth by the material
handling industry segment will be significant during the forecast period. The
material handling segment accounts for a large portion of the global industrial
belt drives market. This segment includes oil and gas, mining, medical, machine
tools, and wood industries. Industrial belt drives such as Vnaught belts or Synchronous
Belt Drives are used widely for the handling of materials. Material
handling equipment is also used for storing and dispatching materials. In the
market segment, there has been strong growth in 2019 as more and more automated
material equipment is adopted. In addition, healthcare, retail, manufacturing,
and automotive industries have increasingly been adopting automated material
handling systems such as automated guided vehicles, automated storage and
retrieval systems, and conveyor systems. This will aid in the growth of the
material handling industry segment in the global industrial belt drives market
during the forecast period.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Industrial Belt Drives Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Product
(Industrial V-belt Drives, Industrial Synchronous Belt Drives, Industrial
Pulleys), By Application (Exhaust Fan, Flour Mill, Conveyors, Compressors,
Machine Tools), By Region, and By Competition 2019-2029” provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Industrial
Belt Drives Market.
Contact
TechSci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States- 10170
M: +13322586602
Email: [email protected]
Website: https://www.techsciresearch.com