Global Conveyor Belt Market to hit USD 5 Bn by 2026: Global Market Insights, Inc.
Some of the major conveyor belt market players include Bando Chemicals, Zhejiang Double Arrow Rubber, ContiTech AG, Fenner DunlopForbo, Nitta Corporation, Bridgestone Corporation, Ammeraal Beltech, The Yokohama Rubber and Sempertrans.
Selbyville, Delaware, Dec. 22, 2020 (GLOBE NEWSWIRE) —
Global Market Insights, Inc. has recently added a new report on conveyor belt market which estimates the
global market valuation for conveyor belt will cross US$ 5 billion by 2026. The growing demand from general manufacturing sector will boost the market revenue in the coming years
Due to the ongoing pandemic, the conveyor belt market revenue has seen a major dip, in terms of both revenue & volume, owing to the shutdown of various manufacturing and mining sites. The COVID-19 pandemic has changed the normal functioning of every industrial sphere, ranging from power generation to general manufacturing. Demand from the mining industry has seen a major downfall in the first & second quarters of 2020. The enforcement of lockdowns across the globe had a major impact in the mining industry, in turn, affecting the overall conveyor belt market. The global conveyor belt industry is projected to exhibit a downward trend of over 11% in 2020.