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

  • Industry : Power
  • Pages : NA
  • Published Date : NA
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Summary

Report Description


Forecast Period

2025-2029

Market Size (2023)

USD 10.21 billion

CAGR (2024-2029)

4.46%

Fastest Growing Segment

Industrial V-belt Drives

Largest Market

Asia Pacific





Market Overview

Global Industrial Belt Drives Market was valued at USD 10.21 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.46% through 2029. The growing demand for automated material handling equipment will drive the growth of the global industrial belt market during the forecast period. Industrial belt drives are known for their efficiency and reliability in power transmission. They offer a cost-effective solution with minimal energy losses during the transmission process. Manufacturers across industries are increasingly adopting belt drives to enhance the overall efficiency and reliability of their machinery, contributing to the market's expansion.

Key Market Drivers

Efficiency and Reliability:

Industrial belt drives are known for their efficiency and reliability in power transmission. They offer a cost-effective solution with minimal energy losses during the transmission process. Manufacturers across industries are increasingly adopting belt drives to enhance the overall efficiency and reliability of their machinery, contributing to the market's expansion.

Rising Industrialization:

The global trend of rapid industrialization has significantly boosted the demand for industrial belt drives. As industries expand and modernize their operations, there is a growing need for robust power transmission systems. Belt drives, with their versatility and adaptability to various industrial applications, have become a preferred choice for manufacturers seeking efficient solutions to meet the demands of modern production processes.

Technological Advancements:

Continuous technological advancements in materials and design have played a crucial role in the evolution of industrial belt drives. Innovations such as the use of advanced materials, precision engineering, and improved belt designs have resulted in enhanced performance, durability, and reduced maintenance requirements. These technological strides contribute to the attractiveness of belt drives in diverse industrial settings.

Environmental Sustainability:

The global emphasis on sustainable and eco-friendly practices has also impacted the industrial belt drives market. Belt drives are known for their energy efficiency, which aligns with the growing focus on reducing carbon footprints. Industries are increasingly adopting these drives as part of their commitment to environmentally responsible manufacturing processes.

Cost-Effectiveness:

Cost considerations remain a significant factor driving the adoption of industrial belt drives. Compared to alternative power transmission systems, belt drives offer a cost-effective solution without compromising on performance. The affordability and reliability of belt drives make them an attractive option for businesses looking to optimize their operational costs.

Diverse Industrial Applications:

Industrial belt drives find applications in a wide range of industries, including manufacturing, agriculture, mining, and automotive. Their adaptability to various settings and capacity to handle different loads make them versatile across multiple sectors. The increasing demand from diverse industries contributes to the overall growth and stability of the industrial belt drives market.

Globalization and Trade:

The interconnectedness of the global economy and the expansion of international trade have a direct impact on the industrial belt drives market. As industries worldwide seek standardized and reliable power transmission solutions, the demand for industrial belt drives has grown on a global scale.

Focus on Maintenance Efficiency:

With an increasing emphasis on reducing downtime and improving maintenance efficiency, industries are turning to belt drives, which offer ease of installation and maintenance. The simplicity of belt drive systems contributes to minimizing disruptions in operations and ensuring the smooth functioning of machinery.

The global industrial belt drives market is propelled by a combination of factors that underscore the importance of efficient, reliable, and cost-effective power transmission solutions. From the relentless march of technological innovation to the imperative of sustainable industrial practices, the drivers of this market are diverse and interconnected. As industries continue to evolve and globalize, the demand for industrial belt drives is likely to persist, making it a crucial component in the machinery that powers our modern world.

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Key Market Challenges

Intense Competition:

The industrial belt drives market is highly competitive, with numerous players vying for market share. This intense competition can lead to price wars, putting pressure on profit margins. Companies must focus on innovation and differentiation to stay ahead in the market.

Technological Advancements:

Rapid technological advancements pose both opportunities and challenges. While innovations bring about more efficient and durable belt drive solutions, companies must continually invest in research and development to stay abreast of the latest technologies. Failure to adapt can result in product obsolescence.

Environmental Regulations:

Increasing environmental regulations and the push for sustainable practices impact the materials used in manufacturing industrial belt drives. Companies face the challenge of aligning their products with stringent environmental standards, which may require changes in manufacturing processes and materials.

Supply Chain Disruptions:

The global supply chain is susceptible to disruptions, as demonstrated by recent events such as the COVID-19 pandemic. Supply chain challenges, including shortages of raw materials and transportation issues, can affect production schedules and increase costs for belt drive manufacturers.

Therefore, the global industrial belt drives market presents both opportunities and challenges for manufacturers. The industry's dynamism requires continuous adaptation to technological advancements, environmental regulations, and changing market preferences. Successfully navigating these challenges involves a combination of innovation, sustainability, and strategic planning. By addressing these challenges head-on, companies can position themselves for sustained growth and competitiveness in the global industrial belt drives market.

Key Market Trends

Rise of Industry 4.0 and Smart Manufacturing:

A prominent trend reshaping the industrial landscape is the integration of Industry 4.0 technologies. Smart manufacturing, enabled by the Industrial Internet of Things (IIoT), has made its mark on the industrial belt drives market. Companies are incorporating sensors and connectivity features in belt drives, allowing for real-time monitoring, predictive maintenance, and enhanced efficiency.

Focus on Energy Efficiency:

With a growing emphasis on sustainability, energy efficiency has become a pivotal trend in the industrial belt drives market. Manufacturers and end-users are increasingly demanding belt drives that minimize energy consumption. This trend aligns with global efforts to reduce carbon footprints and improve overall operational sustainability.

Advancements in Belt Drive Materials:

Ongoing research and development efforts have led to the emergence of advanced materials for belt drives. High-performance polymers, composite materials, and specialized coatings are gaining traction, contributing to increased durability, reduced maintenance requirements, and enhanced overall performance of industrial belt drives.

Customization and Application-specific Solutions:

The demand for application-specific belt drive solutions is rising. Manufacturers are focusing on providing customized solutions that meet the unique requirements of different industries. This trend enables enhanced performance, reliability, and adaptability of belt drives in diverse applications, ranging from automotive assembly lines to food processing plants.

Integration of IoT and Predictive Maintenance:

The integration of IoT technologies in industrial belt drives is driving a paradigm shift towards predictive maintenance. Real-time data monitoring enables early detection of potential issues, allowing for proactive maintenance measures. This not only reduces downtime but also extends the lifespan of belt drive systems.

Growing Adoption of Synchronous Belt Drives:

Synchronous belt drives, characterized by precise power transmission and reduced maintenance needs, are witnessing increased adoption. These belt drives offer improved efficiency and accuracy, making them particularly suitable for applications where precision and synchronization are critical.

Expansion in Developing Markets:

The industrialization of emerging economies is fueling the expansion of the industrial belt drives market. Increasing investments in infrastructure, manufacturing, and agriculture in regions such as Asia-Pacific and Latin America contribute to a growing market presence for belt drive manufacturers.

Emphasis on Compact and Lightweight Designs:

Manufacturers are placing a strong emphasis on designing compact and lightweight belt drives. This trend is particularly relevant in industries where space and weight considerations are crucial, such as aerospace and automotive manufacturing. Compact designs also contribute to ease of installation and maintenance.

Rise of E-commerce in Belt Drive Distribution:

E-commerce platforms are playing an increasingly significant role in the distribution of industrial belt drives. This trend facilitates easy access to a wide range of products, comparison shopping, and streamlined procurement processes for businesses in need of belt drive solutions.

Adoption of Green Manufacturing Practices

The push towards sustainability has led to the adoption of green manufacturing practices in the production of industrial belt drives. This includes the use of eco-friendly materials, energy-efficient manufacturing processes, and recycling initiatives, aligning with global efforts to reduce the environmental impact of industrial operations.

Segmental Insights

Products Insights

Industrial V-belt Drives was the dominant segment in the Global Industrial Belt Drives Market in 2023. Industrial V-belts are friction-based power or torque transmitters used for the transmission of power from one pulley to another by means of friction between the belt and the pulley. A significant advantage of V-belts over other types of belt friction drives is the wedging effect of the belt around a pulley that pushes into the sheave to create the required low belt tension. Mainly because of its relatively low price, easy installation, and size range, the V-belt is the most commonly used drive in industrial applications. The availability of improved belt types with higher efficiency, such as synchronized, has affected the growth rate of the industrial V-belt drives market segment. However, low cost, wide variety range, and high availability of V-belts make them the preferred choice in industrial applications. Therefore, the industrial V-belt drives segment will continue to grow during the forecast period.


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Regional Insights

APAC is estimated to contribute 42% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The industrial belt drives market in APAC is expected to register one of the fastest growth rates during the forecast period. China's contribution to revenue is substantial and accounts for the largest market of industrial belt drive in Asia Pacific. A primary factor for the growth of the market in focus is the growing demand for industrial belt drives from developing countries such as China and India.

Moreover, the oil and gas exploration and mining projects are in the pipeline in Countries in APAC. The improving economic performance in South Asia has attracted significant investments in process and discrete industries. In order to gain an advantage over competitors, plant modernization has become a new tool. As industrial players enter this price-sensitive market, they need to focus on ramping up their production rate without compromising the quality of the product. Hence, the demand for industrial belt drives is increasing steadily in the APAC region, which, in turn, will propel the growth of the industrial belt drives market in the region during the forecast period.

Key Market Players

  • Dayco IP Holdings, LLC
  • Optibelt GmbH
  • Hutchinson Group
  • Continental AG
  • Daifuku Co., Ltd.
  • Interroll Group
  • Honeywell Intelligrated
  • TGW Logistics Group GmbH
  • Swisslog Holding AG

By Product

By Application

By Region
  • Industrial V-belt Drives
  • Industrial Synchronous Belt Drives
  • Industrial Pulleys
  • Exhaust Fan
  • Flour Mill
  • Conveyors
  • Compressors
  • Machine Tools
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Report Scope:

In this report, the Global Industrial Belt Drives Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Industrial Belt Drives Market, By Product:

o   Industrial V-belt Drives

o   Industrial Synchronous Belt Drives

o   Industrial Pulleys

  • Industrial Belt Drives Market, By Application:

o   Exhaust Fan

o   Flour Mill

o   Conveyors

o   Compressors

o   Machine Tools

  • Industrial Belt Drives Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

§  Netherlands

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

§  Thailand

§  Malaysia

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Chile

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Industrial Belt Drives Market.

Available Customizations:

Global Industrial Belt Drives Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Industrial Belt Drives Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.         Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.         Research Methodology

2.1.    Objective of the Study

2.2.    Baseline Methodology

2.3.    Formulation of the Scope

2.4.    Assumptions and Limitations

2.5.    Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6.    Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.    Methodology Followed for Calculation of Market Size & Market Shares

2.8.    Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.         Executive Summary

4.         Impact of COVID-19 on Global Industrial Belt Drives Market

5.         Voice of Customer

6.         Global Industrial Belt Drives Market Overview

7.         Global Industrial Belt Drives Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value

7.2.    Market Share & Forecast

7.2.1.By Product (Industrial V-belt Drives, Industrial Synchronous Belt Drives, Industrial Pulleys)

7.2.2.By Application (Exhaust Fan, Flour Mill, Conveyors, Compressors, Machine Tools)

7.2.3.By Region

7.3.    By Company (2023)

7.4.    Market Map

8.         North America Industrial Belt Drives Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.By Product

8.2.2.By Application

8.2.3.By Country

8.3.    North America: Country Analysis

8.3.1.United States Industrial Belt Drives Market Outlook

8.3.1.1.      Market Size & Forecast

8.3.1.1.1.    By Value

8.3.1.2.      Market Share & Forecast

8.3.1.2.1.               By Product

8.3.1.2.2.               By Application

8.3.2.Canada Industrial Belt Drives Market Outlook

8.3.2.1.      Market Size & Forecast

8.3.2.1.1.    By Value

8.3.2.2.      Market Share & Forecast

8.3.2.2.1.               By Product

8.3.2.2.2.               By Application

8.3.3.Mexico Industrial Belt Drives Market Outlook

8.3.3.1.      Market Size & Forecast

8.3.3.1.1.    By Value

8.3.3.2.      Market Share & Forecast

8.3.3.2.1.               By Product

8.3.3.2.2.               By Application

9.         Europe Industrial Belt Drives Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.By Product

9.2.2.By Application

9.2.3.By Country

9.3.    Europe: Country Analysis

9.3.1.Germany Industrial Belt Drives Market Outlook

9.3.1.1.      Market Size & Forecast

9.3.1.1.1.    By Value

9.3.1.2.      Market Share & Forecast

9.3.1.2.1.               By Product

9.3.1.2.2.               By Application

9.3.2.France Industrial Belt Drives Market Outlook

9.3.2.1.      Market Size & Forecast

9.3.2.1.1.    By Value

9.3.2.2.      Market Share & Forecast

9.3.2.2.1.               By Product

9.3.2.2.2.               By Application

9.3.3.United Kingdom Industrial Belt Drives Market Outlook

9.3.3.1.      Market Size & Forecast

9.3.3.1.1.    By Value

9.3.3.2.      Market Share & Forecast

9.3.3.2.1.               By Product

9.3.3.2.2.               By Application

9.3.4.Italy Industrial Belt Drives Market Outlook

9.3.4.1.      Market Size & Forecast

9.3.4.1.1.    By Value

9.3.4.2.      Market Share & Forecast

9.3.4.2.1.               By Product

9.3.4.2.2.               By Application

9.3.5.Spain Industrial Belt Drives Market Outlook

9.3.5.1.      Market Size & Forecast

9.3.5.1.1.    By Value

9.3.5.2.      Market Share & Forecast

9.3.5.2.1.               By Product

9.3.5.2.2.               By Application

9.3.6.Netherlands Industrial Belt Drives Market Outlook

9.3.6.1.      Market Size & Forecast

9.3.6.1.1.    By Value

9.3.6.2.      Market Share & Forecast

9.3.6.2.1.               By Product

9.3.6.2.2.               By Application

9.3.7.Belgium Industrial Belt Drives Market Outlook

9.3.7.1.      Market Size & Forecast

9.3.7.1.1.    By Value

9.3.7.2.      Market Share & Forecast

9.3.7.2.1.               By Product

9.3.7.2.2.               By Application

10.      South America Industrial Belt Drives Market Outlook

10.1. Market Size & Forecast

10.1.1.     By Value

10.2. Market Share & Forecast

10.2.1. By Product

10.2.2. By Application

10.2.3.     By Country

10.3. South America: Country Analysis

10.3.1.     Brazil Industrial Belt Drives Market Outlook

10.3.1.1.   Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2.   Market Share & Forecast

10.3.1.2.1.            By Product

10.3.1.2.2.            By Application

10.3.2.     Colombia Industrial Belt Drives Market Outlook

10.3.2.1.   Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2.   Market Share & Forecast

10.3.2.2.1.            By Product

10.3.2.2.2.            By Application

10.3.3.     Argentina Industrial Belt Drives Market Outlook

10.3.3.1.   Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2.   Market Share & Forecast

10.3.3.2.1.            By Product

10.3.3.2.2.            By Application

10.3.4.     Chile Industrial Belt Drives Market Outlook

10.3.4.1.   Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2.   Market Share & Forecast

10.3.4.2.1.            By Product

10.3.4.2.2.            By Application

11.      Middle East & Africa Industrial Belt Drives Market Outlook

11.1. Market Size & Forecast

11.1.1.     By Value

11.2. Market Share & Forecast

11.2.1. By Product

11.2.2. By Application

11.2.3.     By Country

11.3. Middle East & Africa: Country Analysis

11.3.1.     Saudi Arabia Industrial Belt Drives Market Outlook

11.3.1.1.   Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2.   Market Share & Forecast

11.3.1.2.1.            By Product

11.3.1.2.2.            By Application

11.3.2.     UAE Industrial Belt Drives Market Outlook

11.3.2.1.   Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2.   Market Share & Forecast

11.3.2.2.1.            By Product

11.3.2.2.2.            By Application

11.3.3.     South Africa Industrial Belt Drives Market Outlook

11.3.3.1.   Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2.   Market Share & Forecast

11.3.3.2.1.            By Product

11.3.3.2.2.            By Application

11.3.4.     Turkey Industrial Belt Drives Market Outlook

11.3.4.1.   Market Size & Forecast

11.3.4.1.1. By Value

11.3.4.2.   Market Share & Forecast

11.3.4.2.1.            By Product

11.3.4.2.2.            By Application

12.      Asia Pacific Industrial Belt Drives Market Outlook

12.1. Market Size & Forecast

12.1.1.     By Value

12.2. Market Share & Forecast

12.2.1. By Product

12.2.2. By Application

12.2.3.     By Country

12.3. Asia-Pacific: Country Analysis

12.3.1.     China Industrial Belt Drives Market Outlook

12.3.1.1.   Market Size & Forecast

12.3.1.1.1. By Value

12.3.1.2.   Market Share & Forecast

12.3.1.2.1.            By Product

12.3.1.2.2.            By Application

12.3.2.     India Industrial Belt Drives Market Outlook

12.3.2.1.   Market Size & Forecast

12.3.2.1.1. By Value

12.3.2.2.   Market Share & Forecast

12.3.2.2.1.            By Product

12.3.2.2.2.            By Application

12.3.3.     Japan Industrial Belt Drives Market Outlook

12.3.3.1.   Market Size & Forecast

12.3.3.1.1. By Value

12.3.3.2.   Market Share & Forecast

12.3.3.2.1.            By Product

12.3.3.2.2.            By Application

12.3.4.     South Korea Industrial Belt Drives Market Outlook

12.3.4.1.   Market Size & Forecast

12.3.4.1.1. By Value

12.3.4.2.   Market Share & Forecast

12.3.4.2.1.            By Product

12.3.4.2.2.            By Application

12.3.5.     Australia Industrial Belt Drives Market Outlook

12.3.5.1.   Market Size & Forecast

12.3.5.1.1. By Value

12.3.5.2.   Market Share & Forecast

12.3.5.2.1.            By Product

12.3.5.2.2.            By Application

12.3.6.     Thailand Industrial Belt Drives Market Outlook

12.3.6.1.   Market Size & Forecast

12.3.6.1.1. By Value

12.3.6.2.   Market Share & Forecast

12.3.6.2.1.            By Product

12.3.6.2.2.            By Application

12.3.7.     Malaysia Industrial Belt Drives Market Outlook

12.3.7.1.   Market Size & Forecast

12.3.7.1.1. By Value

12.3.7.2.   Market Share & Forecast

12.3.7.2.1.            By Product

12.3.7.2.2.            By Application

13.      Market Dynamics

13.1. Drivers

13.2. Challenges

14.      Market Trends and Developments

15.      Company Profiles

15.1.  Dayco IP Holdings, LLC.

15.1.1.     Business Overview

15.1.2.     Key Revenue and Financials  

15.1.3.     Recent Developments

15.1.4.     Key Personnel/Key Contact Person

15.1.5.     Key Product/Services Offered

15.2.  Optibelt GmbH.

15.2.1.     Business Overview

15.2.2.     Key Revenue and Financials  

15.2.3.     Recent Developments

15.2.4.     Key Personnel/Key Contact Person

15.2.5.     Key Product/Services Offered

15.3.  Hutchinson Group.

15.3.1.     Business Overview

15.3.2.     Key Revenue and Financials  

15.3.3.     Recent Developments

15.3.4.     Key Personnel/Key Contact Person

15.3.5.     Key Product/Services Offered

15.4.  Continental AG.

15.4.1.     Business Overview

15.4.2.     Key Revenue and Financials  

15.4.3.     Recent Developments

15.4.4.     Key Personnel/Key Contact Person

15.4.5.     Key Product/Services Offered

15.5.  Interroll Group

15.5.1.     Business Overview

15.5.2.     Key Revenue and Financials  

15.5.3.     Recent Developments

15.5.4.     Key Personnel/Key Contact Person

15.5.5.     Key Product/Services Offered

15.6.  Honeywell Intelligrated.

15.6.1.     Business Overview

15.6.2.     Key Revenue and Financials  

15.6.3.     Recent Developments

15.6.4.     Key Personnel/Key Contact Person

15.6.5.     Key Product/Services Offered

15.7.  TGW Logistics Group GmbH

15.7.1.     Business Overview

15.7.2.     Key Revenue and Financials  

15.7.3.     Recent Developments

15.7.4.     Key Personnel/Key Contact Person

15.7.5.     Key Product/Services Offered

15.8.  Swisslog Holding AG

15.8.1.     Business Overview

15.8.2.     Key Revenue and Financials  

15.8.3.     Recent Developments

15.8.4.     Key Personnel/Key Contact Person

15.8.5.     Key Product/Services Offered

15.9.  Daifuku Co., Ltd.

15.9.1.     Business Overview

15.9.2.     Key Revenue and Financials  

15.9.3.     Recent Developments

15.9.4.     Key Personnel/Key Contact Person

15.9.5.     Key Product/Services Offered

16.      Strategic Recommendations

17.         About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Industrial Belt Drives Market was USD 10.21 billion in 2023.

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Industrial V-belt Drives was the dominant segment in the Global Industrial Belt Drives Market in 2023.

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Asia pacific dominated the market in 2023

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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.

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Parvati Sharma

Account Manager BD
Press Release

Industrial Belt Drives Market is expected to grow at a CAGR of 4.46%

Jan, 2024

The growing demand for automated material handling equipment will drive the growth of the global industrial belt market during the forecast period.

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