Micro-Pitch Modular Belt Market - Global Industry analysis, Size, Share, Growth, Trend and Forecast 2016 - 2024
- Transparency Market Research
Modular belts are primarily used for carrying objects from one end to another. Usually, the belts are supported by two or more pulleys that rotate it continuously. Introduction of modular belt has offered a transformative transportation method for industrial manufacturers. In the last couple of decades or so, a number of innovations have occurred in the modular belts landscape. The micro-pitch modular belt is specially designed for handling small items from one conveyors to another, or from a conveyor onto a production area for additional assembly or packaging. Normally, a micro-pitch modular belt can load up to 150 pounds with a belt width of 4, 8, 12 and 24 inches.
Micro-Pitch Modular Belt Market - Market Dynamics:
One of the significant factors contributing towards the growth of the micro-pitch modular belt market is the rampant growth of manufacturing industry across the world. Moreover, growth in infrastructure activities such as malls and airports is also amongst the major factors anticipated to drive the demand for micro-pitch modular belt during the forecast period. Furthermore, characteristics such as high speed, low coefficient of friction surface, sprocket driven belt has led the various industries to adopt the micro-pitch modular belt with ease of functioning. However, high installation cost and availability of several alternatives are the factors anticipated to restrain the global micro-pitch modular belt market over the forecast period.
Micro-Pitch Modular Belt Market- Market Segmentation:
Global micro-pitch modular belt market is segmented on the basis of product type and end-use industry. On the basis of product type, micro-pitch modular belt market can be segmented into flat top, non-slip and flush grid. Flat top segment accounts for the largest share of the overall market of micro-pitch modular market. On the basis of end-use industry, micro-pitch modular belt market can be segmented into chemicals, pharmaceuticals, construction, food & beverages, automotive, packaging and others. Food & beverages followed by packaging are expected to maintain the highest market share in global micro-pitch modular belt market over the forecast period.
Micro-Pitch Modular Belt Market - Regional Outlook:
Geographically, the global micro-pitch modular belt market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global micro-pitch modular belt market is expected to witness a significant CAGR over the forecast period of 2016-2024. Moreover, APAC dominates the global micro-pitch modular market and the trend is expected to sustain over the forecast period due to increasing industrial investment and infrastructural development in India and China. In addition to this, extensive evolution of the retail sector in the growing economies is expected to provide an impetus to the market in Asia Pacific during the forecast period 2016-2024. North America is expected to provide ample opportunities for the growth of the market during the forecast period.
Micro-Pitch Modular Belt Market - Major Players:
Some of the major players identified across the globe in the micro-pitch modular belt market are Scanbelt, Habasit Link, Clayton Controls, Belt Conveyors and Sparks belting. Other prominent companies in global micro-pitch modular belt market includes KVP Belts, Belt Power, UNI chains, Falcon Belting Inc.
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