2024 Conveyor Belt Industry Market Trends and Growth Outlook – Chongqing Carrystone Conveyor Belt Co Ltd.
Conveyor belts are essential industrial equipment widely used in mining, ports, logistics, metallurgy, power generation, chemicals, cement, and many other industries. In recent years, with the acceleration of China's industrialization and the deepening of global economic integration, the demand for conveyor belts has been steadily increasing. Particularly, in the context of rising modern production requirements, high-efficiency, energy-saving, and environmentally friendly conveyor belt products have become the focus of enterprise procurement.
According to relevant data, China’s conveyor belt production reached 5.5 billion square meters in 2023, an 8.3% year-on-year increase. It is estimated that from 2023 to 2028, the Chinese conveyor belt industry will maintain an annual growth rate of around 6%, with production expected to reach 7.6 billion square meters by 2028. This growth trend is driven by continued infrastructure development and the rapid advancement of industrial automation and smart manufacturing.
Currently, China’s conveyor machinery market has reached 53 billion RMB, with belt conveyor machinery accounting for approximately 28.6 billion RMB. Belt conveyor systems play a crucial role in numerous industries due to their continuous and highly efficient material transport capabilities. Compared to traditional truck transportation, conveyor belts offer advantages such as increased safety, environmental benefits, energy efficiency, and cost-effectiveness, making them increasingly favored by businesses.
Additionally, with the strict enforcement of environmental regulations, the application of conveyor belts in bulk material transportation has expanded further. For example, in the transportation of coal, ores, and grains, conveyor belts can significantly reduce dust pollution and energy consumption, aligning with green development and sustainable growth strategies.
Looking ahead, the acceleration of global industrialization, the rise of emerging markets, and the advancement of China’s Belt and Road Initiative will provide vast growth opportunities for the conveyor belt industry. Particularly in industries such as mining, ports, power generation, metallurgy, and construction, conveyor belts will continue to be a crucial component of logistics and material transportation. Enterprises need to actively expand into global markets, continuously improve technological capabilities, and optimize product structures to meet future market challenges with more competitive solutions.