A belt is a loop strip that is used to connect two or more mechanically moving shafts. It is employed in various industries such as food & beverage and medicines. Modular belts use the basic principle of friction. Belt drives transmit power to record relative movement as the source of motion. Modular belts are belts that are made up of interconnected segments. It is easy to replace and requires little maintenance. It is more elastic than flat belts and easy to clean and disinfect, making it suitable for the food and beverage sectors. They are a collection of plastic modules held together by the sidebar. Modular belt drives allow users to effectively transport and clean their products. These belts are used to move things or objects from one location to another.
Market Scope and Structure Analysis
Description
Modular belt drives are employed in agricultural equipment and tiny machine tools. Machine tools use a medium belt drive. Compressors, generators, and heavy machinery all employ large belt drives. Modern modular belt drives include smart control systems that monitor the operating state while keeping track of the belt-side load. The modular belt drive market is expected to increase as a result of advancements in modular belt drives, such as the integration of smart systems that allow for the optimization of operating processes via dynamic simulations. An automatic modular belt drive uses motion control to provide programmable positioning even at low resolutions.
COVID-19 Impact analysis
- The COVID-19 pandemic has ceased the production of various products in the modular belt drive industry, which is attributed to the lockdown in countries worldwide. This has hampered the growth of modular belt drive market from the last few months and is likely to continue through 2022.
- COVID-19 affected the sales of modular belt drives in the first quarter of 2021 and is anticipated to have a negative impact on the market growth throughout the year.
- The major demand for modular belt drive was previously noticed in giant manufacturing countries, such as North America, Europe, Asia-Pacific, and South America, which are negatively affected by the spread of the coronavirus, thereby declining the demand for yarders.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Modular belt drive manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
- Modular belt drive manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distance, and ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
The modular belt drive market is expected to grow due to its vast industrial applications in food, beverage, pharmaceuticals, and logistics. Belt drives are easy and cost-effective to utilize, and they do not require parallel shafts. It makes it easier for the user to prevent a jam or an overflow of items on the conveyor belt. A modular belt drive improves plant productivity and lowers production expenses associated with downtime.
These properties are propelling the global modular belt market and are expected to boost the market in the future. Furthermore, the belt drive's maintenance costs are low, making it cost-effective. Due to its efficiency and easy maintenance, it is in great demand in the food &beverage and pharmaceutical sectors.
- In September 2020, Habasit introduced TL Power transmission belts, which include unique foamed TPU covers and are ideal for medium-class yarn processing driving belts. This new generation of polyester-based traction layers offers outstanding abrasion resistance and consistent grip.
- In April 2020, Bode Belting has introduced Alatos Flex Timing Belts, which have 100% tensile strength and are perfect for industries that require power transmission. It can be offered with openings, or covered with various rubber and plastic materials for various types of conveying application.
- Similarly, in June 2021, ABB introduced the ABB ability monitoring digital service for maintenance of conveyor belts. It allows mine operators to track conveyor belt speed, slippage, damage, misalignment, and real-time temperature, allowing them to plan maintenance, avoid downtime, and improve belt reliability and life duration.
Key Benefits of the Report
- This study presents the analytical depiction of the modular belt drive industry along with the current trends and future estimations to determine the future investment pockets.
- The report presents information related to key drivers, restraints, opportunities, and the modular belt drive market share.
- A quantitative analysis highlights the modular belt drive growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed modular belt drive analysis based on competitive intensity and how the competition will take shape in coming years.
Modular Belt Drive Market Report Highlights
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