Conveyor Monitoring Market Outlook – 2027

The global conveyor monitoring market is experiencing a significant growth, and is expected to grow considerably in the next few years. Traditional methods of conveyor monitoring were inconsistent, unreliable, labour intensive, and time-consuming. Interruption in conveyor belts hinder productivity and damages to spares, mostly belt edges and cord misalignment. Owing to this, companies suffer from revenue losses and workflow is heavily hampered. 

Conveyor monitoring witness surge in demand as it aids to identify a potential failure in advance, which, in turn, reduces downtime of conveyors. Conveyor monitoring is a process of acknowleging status or condition of conveyor motors and conveyor belts, when in operation. The demand for conveyor monitoring market is on the rise, owing to increase in requisite of mitigating damages occurred due to human error during industrial processes.

The global conveyor monitoring market is segmented on the basis of type, type of monitoring, industry vertical and region. Based on type, the market is divided into hardware and software. In terms of type of monitoring, the market is categorized into conveyor belt monitoring, and conveyor motor monitoring. In terms of industry vertical, the conveyor monitoring market is segregated into chemical & petrochemical, oil & gas, energy & power, automotive, food & beverages, healthcare, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global conveyor monitoring industry include Beltscan Systems Pty Ltd., Yellowtec, Honeywell International Inc., ContiTech Conveyor Belt Group,  Fenner Dunlop, PHOENIX CBS GMBH, Emerson Electric Co., Bruel & Kjaer, SKF, Parker Hannifin Corporation. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global conveyor monitoring market.

Market Scope and Structure Analysis

COVID-19 Scenario Analysis: 

• Global conveyor monitoring market has been heavily impacted by the COVID-19 pandemic. New projects throughout the world have delayed which hampers the conveyor monitoring market growth.
• Manufacturing facilities around the world have struggled to manufacture and assemble new devices as workers have stayed in their homes and even already available devices in various warehouses cannot be transported due to current rules and regulations, which has disrupted the supply chains globally.
• The impact of COVID-19 on conveyor monitoring market is temporary as production and supply chain has slowed down. Once the condition improves, production, supply chains and demand for these products are estimated to increase.

Top Impacting Factors

The conveyor monitoring market forecast is anticipated to witness steep growth in the coming few years. This is mainly due to rise in focus of companies to reduce revenue loss from faults in conveyor systems together with growth in awareness about predictive maintenance tools and techniques. In addition, conveyor monitoring system also benefits in reducing maintenance costs, eliminating wastage, and increasing integrity of customers. Conveyor belts repeatedly suffer from faults such as belt wear and tear, longitudinal crack, and overlapping of belts on pulleys. 

This hinders the overall productivity, which prevents a large number of industry players from adopting conveyor monitoring systems. This is a significant factor that is anticipated to boost the global conveyor monitoring market growth during the forecast period. However, high costs of installation and maintenance of conveyor monitoring system is a strong factor that hinders growth of the global conveyor monitoring market share.

Conveyor Belt Monitoring Solutions to Drive the Market

Conveyor belt monitoring solutions are anticipated to account for a huge market share with respect to conveyor motor monitoring solutions. Technologies in conveyors belt monitoring such as X-ray, optical and electromagnetic, are commonly used. These technologies are designed to increase capacity of production units by monitoring conveyor belts for its wear and tear. Belt damages may have injured carcass with protruding steel cords, ripping off the conveyor belt,  wear & tear, insufficient cleaning, splice deterioration, and foreign objects on it. As a result, conveyor belt monitoring is important to avoid any damages to the conveyor belt or costly shutdowns.

Mining industry to witness significant growth rate 

The mining industry is anticipated to foresee a significant growth rate during the forecast period in the conveyor monitoring industry. The conveyor monitoring industry is associated with the removal of metal and mineral reserves, and fabrication of metals. Conveyor monitoring helps avoid expensive shutdowns with regular inspection of defects and alerting through a  precautionary alarm in the case of the mining industry. 
Conveyors are highly efficient in material handling and can also be used in inaccessible terrains. In case of the mining industry, extreme and hazardous environments severely damage conveyor belts. In addition, sharp objects might cause internal damange to belt carcass resulting in tears conveyor belt. Owing to these reasons, application of conveyor monitoring solutions is essential, particularly in the mining industry. The monitoring process assures uninterrupted running of conveyors as well as improves productivity of mining sites.

Key Segments Covered:

Key Benefits of the Report:

• This study presents the analytical depiction of the global conveyor monitoring industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed global conveyor monitoring market analysis.
• The conveyor monitoring market trends are quantitatively analyzed from 2020 to 2027 to highlight the global conveyor monitoring market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global conveyor monitoring market analysis based on competitive intensity and how the competition will take shape in the coming years. 

Questions Answered in the Conveyor Monitoring Market Research Report:

• Who are the leading market players active in the conveyor monitoring market size?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the conveyor monitoring market?
• What are the projections for the future that would help in taking further strategic steps?