Global Conveyor Monitoring Market (2021 to 2026) - Growth, Trends, COVID-19 Impact, and Forecasts - ResearchAndMarkets.com

The "Conveyor Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The conveyor monitoring market was valued at USD 206.77 million in 2020 and expected to reach USD 264.67 million by 2026 and grow at a CAGR of 4.2% over the forecast period (2021-2026).

Companies Mentioned

• Fenner Dunlop Inc.
• Emerson Electric Co
• Beltscan Systems Pty Ltd.
• ContiTech AG
• PHOENIX CBS GmbH
• CBG Conveyor Belt Gateway
• 4B Braime Group
• Yellow Technical Services (Pty) Ltd.
• Honeywell International Inc.

Key Market Trends

Conveyor Belt Monitoring To Hold Major Share

• When a conveyor system goes down, it adds to the cost in terms of both time and money. For example, when a large open-pit mine plans to replace a drive train component on a conveyor, it can result in an as long as eight-hour outage and USD 2.5 million in lost production. Often, the impact of such disruptions does not stop at just production delays but instead has a far-reaching ripple effect.
• Conveyor belts often suffer from faults such a longitudinal crack, damages to belt edges, belt wear and tear, and belt overlapping on pulleys. This hampers the productivity of the production units, in order to avoid a large number of industry players are adopting a conveyor monitoring system.
• US Mine Safety and Health Administration (MSHA) has investigated multiple coal mine fires and determined the possible causes of fires in coal mines. The report includes 62 coal fires caused by conveyor belts, which accounted for around 20% in total of the coal fires reported to the MSHA by US coal mine operators. The major ignition source is frictional heat which can then be divided into friction at the driver unit, friction along the belt (attributed to friction between the rubber belt, wooden posts, coal dust, and spillage) and friction between the idler bearings and the races or the belt or support structure. This has increased the focus on the monitoring of conveyor belts.

Asia-Pacific To Witness Major Growth

• Among grographic region segment, the market in APAC is expected to grow at the highest rate from 2020 to 2025. The growth of the market in this region is mainly attributed to the technological innovation and the increasing adoption of the automation technologies in various end-user industries. Rapid rate of urbanization, complementing technological advancements, favorable government policies, and healthy FDI inflows in the region are among few of the other critical factors driving the conveyor monitoring demand in the region.
• The APAC region is witnessing a wave in the deployment of conveyor monitoring solutions to help improve operational effeciency. China and Australia, being the top mining countries in the region, have been adopting real-time conveyor monitoring systems to improve the operational efficiency and production in the country.
• Moreover, Australia is likely to hold a high potential for the market growth owing to the presence of the vast reserves of oil and minerals. These have also helped in the establishment of a robust mining sector in the country. Additionally, favorable government policies, coupled with the adoption of the latest technologies in condition monitoring, is expected to augment the market growth in the country over the forecast period. The growing demand for predictive maintenance techniques and tools, along with the rising availability of remote conveyor monitoring and fault diagnosis systems, has resulted in fierce competition among manufacturers.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Rising Adoption of Predictive Maintenance Tools and Techniques

4.3 Market Restraints

4.3.1 Limited In-House Skillset to Manage Monitoring Solutions and Analyze Data

4.3.2 High Costs of Installation and Maintenance

4.4 Industry Attractiveness - Porter's Five Force Analysis

5 MARKET SEGMENTATION

5.1 By Type

5.2 By Type of Monitoring

5.3 By End-user Industry

5.4 Geography

5.4.1 North America

5.4.1.1 US

5.4.1.2 Canada

5.4.2 Europe

5.4.2.1 Germany

5.4.2.2 UK

5.4.2.3 Rest of Europe

5.4.3 Asia Pacific

5.4.3.1 China

5.4.3.2 Japan

5.4.3.3 India

5.4.3.4 Rest of Asia-Pacific

5.4.4 South America

5.4.4.1 Mexico

5.4.4.2 Brazil

5.4.4.3 Argentina

5.4.4.4 Rest of South America

5.4.5 Middle East and Africa

5.4.5.1 South Africa

5.4.5.2 Egypt

5.4.5.3 Rest of Middle East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/ezwzv6

View source version on businesswire.com: https://www.businesswire.com/news/home/20210428005696/en/