Industrial Belt Drives Market growth will be driven by increasing demand for automated material handling equipment during the forecast period.

According to a TechSci Research report, "Industrial Belt Drives Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2020-2030," there is an increasing focus on improving customer satisfaction and speeding up cash flow. This shift has led to the adoption of automated material handling equipment, which is expected to impact various material handling processes, including loading. 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 2030.

Automated material handling equipment plays a crucial role within the broader material handling industry. As this sector contributes significantly to the global industrial belt market, the rise in automation has led to a higher demand for industrial belt drives. The growth of automated systems is expected to drive the global industrial belt market during the forecast period. Additionally, the mechanization of agriculture in developing economies is further contributing to the growth of the industrial belt drives market, especially as governments subsidize farm equipment, encouraging adoption.

The replacement of older equipment with newer machinery, driven by increased investment and improved cash flows, will also support the growth of the industrial belt drives market over the forecast period.

Industries such as conveyors, metal-cutting machines, textiles, steel processing, and packaging require high precision in rotor movement, speed, hollow shafts, and low vibration. Worn belts can cause unwanted noise and damage to the entire connected system. While synchronized timing belts are available, belt drives typically do not provide precise synchronization between shafts due to slippage.

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Electric motor-integrated drive systems are favored by end-users. High-precision motors, such as stepper and servo motors, offer controlled torque and precision in angular movement, solving issues caused by induction and brushed DC motors for smoother operations. However, challenges such as inefficiency in high-precision applications and difficulty operating in harsh environments could negatively affect market growth during the forecast period.

The COVID-19 pandemic severely impacted many countries, including Japan, South Korea, and India, causing a temporary shutdown of industrial activities in 2020. However, government vaccination initiatives in 2021 helped stabilize the situation and allow business operations to resume in industrial and manufacturing sectors. The resumption of activities in industries like agriculture is boosting the demand for industrial belt drives. Additionally, the growth of the construction industry in the region will further drive the industrial belt drives market during the forecast period.

Key market players in the Global Industrial Belt Drives Market are: -

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

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“The market share growth by the material handling industry segment will be significant during the forecast period. The material handling segment accounts for a large portion of the global industrial belt drives market. This segment includes oil and gas, mining, medical, machine tools, and wood industries. Industrial belt drives such as Vnaught belts or Synchronous Belt Drives are used widely for the handling of materials. Material handling equipment is also used for storing and dispatching materials. In the market segment, there has been strong growth in 2019 as more and more automated material equipment is adopted.

In addition, healthcare, retail, manufacturing, and automotive industries have increasingly been adopting automated material handling systems such as automated guided vehicles, automated storage and retrieval systems, and conveyor systems. This will aid in the growth of the material handling industry segment in the global industrial belt drives market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“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” provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Industrial Belt Drives Market.

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