Technavio analysts forecast the global industrial V-belts market to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global industrial V-belts market from 2019-2023. (Graphic: Business Wire)
The consolidation in the cement industry is one of the major trends being witnessed in the global industrial V-belts market 2019-2023. To expand the business inorganically and stay in sync with changing market conditions, vendors have been focusing on mergers and acquisitions (M&A). The ongoing trend of consolidation in the cement industry is likely to bring in production discipline, which will result in price stability in the long run. The demand for industrial V-belts is further expected to increase with the ongoing consolidation in the cement industry.
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According to Technavio analysts, one of the key factors contributing to the growth of the global industrial V-belts market is the growing demand for automated material handling equipment:
Global industrial V-belts market: Growing demand for automated material handling equipment
The process and discrete industries have been adopting automated material handling systems to increase volumes and reduce the lead time. The global industrial V-belt market accounted for a significant share of the global automated material handling equipment market in 2018. This share is anticipated to increase further during the forecast period.
According to a senior research analyst at Technavio, “Some of the key factors that are promoting the growth of automated material handling equipment are ongoing recovery in global manufacturing in emerging nations such as China, India, and Mexico. In addition, the rising demand for automation in the industrial sector, increasing number of start-up companies offering robotic solutions for warehouse automation, and the growing popularity of AMH equipment among end-user industries are also encouraging growth.”
Global industrial V-belts market: Segmentation analysis
The global industrial V-belts market research report provides market segmentation by end-user (material handling, industrial machinery, agricultural machinery, mining and minerals, oil and gas, and other industries) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The material handling segment held the largest industrial V-belts market share in 2018, accounting for approximately 28% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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