The Agricultural Food Grade Rubber Conveyor Belt Market is anticipated to reach US$ 3,542.90 million in 2023 and US$ 5,771.00 million by 2033. During the projected period, agricultural food grade rubber conveyor belt sales are anticipated to increase on average at a CAGR of 5%.
The agricultural food grade rubber conveyor belt is increasingly in demand across various end-use sectors, including harvesting equipment, processing equipment, material handling & packaging equipment. The growth may influence the market expansion of agricultural food grade rubber conveyor belt in demand for synthetic rubber conveyor belts.
Analyzing the Dynamics of the Global Agricultural Food Grade Rubber Conveyor Belt Market
Globally, rising food production may spur the agricultural food grade rubber conveyor belt market to increase overall over the forecast period. The agricultural food grade rubber conveyor belt manufacturers are influenced to use automation in their manufacturing facilities to boost production efficiency by growing demand for electronic gadgets and consumers’ preference for packaged food and beverage goods. The market may expand due to the rising usage of automated production lines across numerous industries.
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On the other hand, one of the significant issues confronting manufacturers in the concerned market is that large OEMs of conveyor belts must compete on price with low-quality belt manufacturers. This is expected to be the most significant impediment to the market growth of agricultural food grade rubber conveyor belt during the forecast period.
As technical sophistication has increased, repair and maintenance costs have risen significantly over the years. Increasing maintenance and service costs are projected to limit the expansion of the agricultural food grade rubber conveyor belt industry soon.
Regional Outlook
During the forecast period, North America is going to be the major agricultural food grade rubber conveyor belt market. This can be attributable to rising demand from the region’s numerous end-use sectors. The United States leads North American market growth for agricultural food grade rubber conveyor belt, followed by Canada and Mexico.
Due to increasing demand from various end-use sectors such as harvesting equipment, processing equipment, material handling & packaging equipment, and others, the Asia Pacific region is projected to emerge as the second-most significant agricultural food grade rubber conveyor belt market. China is predicted to be the most considerable contributor to the Asia Pacific market growth for agricultural food grade rubber conveyor belt, followed by India, Japan, and South Korea.
From 2023 to 2033, Europe is expected to be the third leading agricultural food grade rubber conveyor belt market. This can be attributable to rising demand from the region’s numerous end-use sectors. The United Kingdom, Germany, and France immensely contribute to European market growth for agricultural food grade rubber conveyor belt.
Key Takeaways
- The standard black rubber conveyor and elevator belt segment in the product type category to grab a share of 78.6% from 2023 to 2033.
- In the material type category, the synthetic rubber segment to acquire a market share of 18.9% between 2023 and 2033.
- The United States agricultural food grade rubber conveyor belt business to acquire a share of 32.10% by 2023.
- The Germany agricultural food grade rubber conveyor belt industry to grab a share of 16.7% by 2023.
- Japanese agricultural food grade rubber conveyor belt market to hold a share of 9.6% by 2023.
- Australia agricultural food grade rubber conveyor belt industry to acquire a share of 0.8% by 2023.
- Chinese agricultural food grade rubber conveyor belt sales to expand at a CAGR of 4.9% through 2033.
- India agricultural food grade rubber conveyor belt industry to develop at a CAGR of 5.6% from 2023 to 2033.
- United Kingdom agricultural food grade rubber conveyor belt business to evolve at a CAGR of 5.2% through 2033.
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Competitive Landscape
The agricultural food grade rubber conveyor belt market is very competitive. The agricultural food grade rubber conveyor belt manufacturers are concentrating on product quality, innovation, and pricing to obtain a competitive edge as diverse manufacturers compete for market share. Meeting industry standards and customer expectations is critical to long-term success in this competitive environment.
Key Players
- Continental AG
- Dorner Holding
- Mafdel
- Reveyron
- Siban Peosa
- VIS GmbH
- Michelin (Fenner PLC)
- Volta Belting Technology
- SIG SpA
- Artego SA
- Derco BV
Latest Breakthroughs
- Launch
Bridgestone announced the November 2019 introduction of the world’s first polymer capable of molecularly linking rubbers and resins.
- Expansion
Continental AG, a well-known maker, and supplier of automotive components, has launched a new research and development facility in Silicon Valley, California.
Key Segments
By Product Type:
- White food grade rubber conveyor & elevator belt
- Green food grade rubber conveyor & elevator belt
- Standard black rubber conveyor & elevator belt
By Material Type:
- Natural rubber
- Synthetic rubber
By Application:
- Harvesting equipment
- Processing equipment
- Material handling & packaging equipment
- Bottling equipment
By End-use:
- Vegetables
- Fruits
- Sugar
- Food Grains/Cereals
- Salt
- Olives/Grapes
- Sugar Beet
- Nuts
- Others (Peppers, Wood Chips/Forestry, etc.)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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