Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. Agricultural and Food Grade Rubber Conveyor Belt Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis.
While processed and packaged food and beverage products are a major driver of conveyor belt demand, increasing automation across industries is also driving significant demand globally.
According to a new intelligence study published by Future Market Insights, revenue growth for agricultural and food grade rubber conveyor belts is expected to be moderate. According to the report, global sales of agricultural and food grade rubber conveyor belt are expected to exceed US$ 3 billion in 2020, with a steady yearly increase in 2019 and 2020.
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Consistently growing installation of conveyor belts at a growing number of automated assembly lines set up in production plants will continue to generate robust demand for conveyor belts, according to the report.
Standard conveyor belts that deliver relatively more efficient performance translate into least turnaround time for manufacturers, and thus represent the highest adoption potential.
Key Insights Drawn from the Research Intelligence
- Standard black rubber conveyor and elevator belt owing to superior efficiency holds more than 70% share in the total market value, at present.
- Application of agricultural and food grade rubber conveyor belt in processing equipment continues to be maximum, accounting for over half the share of the total market revenue.
- Material handling and packaging equipment are projected to cover a significant market value in terms of application, equating a share of just-under 1/4th of the global market revenue.
- With more than 60% value share in agricultural and food grade rubber conveyor belt market, synthetic rubber remains a preferred material over the natural variant.
- The end use analysis of agricultural and food grade rubber conveyor belt landscape reveals that food grains/cereals and sugar represent a cumulative share of more than 55% in the global value, followed by the vegetables segment.
- SEA & Pacific and Europe represent the largest regional markets for agricultural and food grade rubber conveyor belt respectively, contributing over 40% share in the total market value.
Maintenance Service
The global market for agricultural and food grade rubber conveyor belt is a highly fragmented landscape, with Tier 3 players holding a major share of the revenue. Looking at the intensity of competition on the global agricultural and food grade rubber conveyor belt landscape, a majority of global as well as regional players are striving to introduce maintenance service packages with an objective to cater to the growing demand for onsite conveyor belts maintenance.
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As a typical conveyor belts system has an average life span of four years and requires timely maintenance check for superior performance, a wide scope lies for the incorporation of technologically advanced monitoring systems. Companies are likely to leverage their technical expertise in maintaining a differentiating edge over competition, projects the report.
Accelerated Local Food Production Is Creating Opportunities
Europe, one of the two key regions for growth of agricultural and food grade rubber conveyor belt market, has been the global agricultural hub. The EU has been playing a pivotal role in empowering local producers and farmers through CAP (Common Agricultural Policy). The ultimate objective of promoting local farming activities and supplement the overall food production levels is likely to propel sales of agricultural and food grade rubber conveyor belts in coming years.
Favorable government initiatives, improving food policies, and evolving FDA guidelines, collectively highlight growing significance of food production safety, security, speed, sustainability, efficiency, transport, and logistics across the agricultural and F&B industries. FMI thus expects emergence of a slew of lucrative deployment opportunities for agricultural and food grade rubber conveyor belt manufacturers.
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