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Agricultural and Food Grade Rubber Conveyor Belt Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, mergers & acquisitions along with trending innovation and business policies are reviewed in the report.
While processed and packaged food and beverage products are prominently shaping the demand for conveyor belts, increasing automation across industries is also raising significant demand worldwide.
FMI published a new report titled “Agricultural and Food Grade Rubber Conveyor Belt Market research report which is segmented by Types (Natural Rubber, Synthetic Rubber), By Applications (Harvesting Equipment, Processing Equipment, Material Handling & Packaging Equipment, Others), By Players/Companies Continental, Dorner Holding, Mandel, Reveyron, Saban Peosa, VIS GmbH, Michelin (Fenner PLC), Volta Belting Technology, SIG SpA, Artego SA, Derco BV”. As per the study, the market is expected to grow at a CAGR of 4.7% in the forecast period.
A new intelligence study published by Future Market Insights projects a moderate revenue growth outlook for agricultural and food grade rubber conveyor belts. The global sales of agricultural and food grade rubber conveyor belts are likely to reach beyond US$ 3 Bn in 2020, witnessing a steady yearly expansion in 2019 and 2020, says the report.
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Consistently growing installation of conveyor belts at a growing number of automated assembly lines set up in production plants will continue to generate robust demand for conveyor belts, according to the report.
Standard conveyor belts that deliver relatively more efficient performance translate into the least turnaround time for manufacturers, and thus represent the highest adoption potential.
Key Insights Drawn from the Research Intelligence
Accelerated Local Food Production Is Creating Opportunities
Europe, one of the two key regions for the growth of the agricultural and food grade rubber conveyor belt market, has been the global agricultural hub. The EU has been playing a pivotal role in empowering local producers and farmers through CAP (Common Agricultural Policy). The ultimate objective of promoting local farming activities and supplementing the overall food production levels is likely to propel sales of agricultural and food grade rubber conveyor belts in coming years.
Favourable government initiatives, improving food policies, and evolving FDA guidelines, collectively highlight the growing significance of food production safety, security, speed, sustainability, efficiency, transport, and logistics across the agricultural and F&B industries. FMI thus expects the emergence of a slew of lucrative deployment opportunities for agricultural and food grade rubber conveyor belt manufacturers.
FMI Tracks Competition, Emphasizing Key Developmental Strategies
Leading manufacturers continue to invest in the R&D of innovative, high-performance materials for belt conveyors, thereby unlocking a heap of application opportunities shortly. A growing focus of manufacturers on strategic mergers and acquisitions is likely to direct them towards an enhanced portfolio of offerings that intends to capture a larger market share through an extended outreach across the agricultural and food grade rubber conveyor belt landscape.
“Some of the leaders are exclusively strategizing acquisition of prominent Tier 3 players for an improved regional/local foothold in the market,” reports the analyst.
The global market for agricultural and food grade rubber conveyor belts is a highly fragmented landscape, with Tier 3 players holding a major share of the revenue. Looking at the intensity of competition in the global agricultural and food grade rubber conveyor belt landscape, a majority of global as well as regional players are striving to introduce maintenance service packages to cater to the growing demand for onsite conveyor belt maintenance.
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As a typical conveyor belt system has an average life span of four years and requires timely maintenance checks for superior performance, a wide scope lies for the incorporation of technologically advanced monitoring systems. Companies are likely to leverage their technical expertise in maintaining a differentiating edge over the competition, projects the report.
The report also explains that the criticality of meeting multiple international regulatory standards such as FDA and EU norms remains paramount for conveyor belt manufacturers. This, especially in the case of food safety management, remains a longstanding challenge in raising the quality bar for manufacturers. As indicated by the report, companies operating in the agricultural and food grade rubber conveyor belt landscape are constantly extending efforts to address the concerned challenges and thereby satisfy the desired regulatory guidelines.
While the competitive landscape assessment presented in the report by FMI discusses in detail the key company profiles followed by their strategic developments of late, it intends to help market stakeholders spot the most actionable strategic insights that potentially support their growth in the long run. Some of the companies active in the agricultural and food grade rubber conveyor belt market that have been covered in the report include Continental AG, Cobra Group, Fenner PLC, and Artego SA.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
Plot No: JLT-PH2-X2A
The post According to FMI, the global Agricultural Food Grade Rubber Conveyor Belt Market will grow at a rate of 4.9 percent by 2028. appeared first on Future Market Insights.
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