[100 Pages Report] Conveyor Monitoring Market is projected to grow from USD 215 Million in 2019 to USD 254 Million by 2024, at a CAGR of 3.5% between 2019-2024. A conveyor system, which moves materials from one location to another, is an integral part of the mining and power generation industries. Conveyor monitoring is a well-known practice followed in the mining industry. Conveyor monitoring equipment monitor and reports damages to the belt or malfunctioning of conveyor motors and helps avoid costly downtime or operation failures.
Conveyor Monitoring Market Forecast to 2024
To know about the assumptions considered for the study, Request for Free Sample Report
The predictive maintenance technique is rapidly gaining popularity in the manufacturing sector globally due to various benefits offered by the technology. This includes y to track the condition and performance of the machine and anticipate failure before it appears, which help manufacturers to improve. Several predictive maintenance tools and techniques are available to monitor the condition of machine components by identifying the symptoms of wear and other failures. Thus, the popularity of predictive maintenance is one of the key factors for the growth of the conveyor monitoring market.
A dedicated data analysis team is required for the deployment of predictive maintenance tools as well as conveyor and motor monitoring solutions. This team must have knowledge and skills about the operations of machine condition monitoring solutions to get accurate and timely information about the health of the motor, conveyor belt, and so on. Also, the team should be aware of the consequences of the failure of these systems. A highly skilled workforce is required for smooth operations and maintenance of sophisticated monitoring solutions, which increases the overall business cost. Thus, the shortage of skilled professionals and the increase in the overall business cost are the major factors restraining the conveyor monitoring market growth.
The industrial IoT creates a huge demand for advanced connected devices. These connected devices enable machine-to-machine communication and interoperate with other devices according to the requirements of the connected environment. This increases the usage of monitoring solutions, actively involving preventive steps, thereby reducing human intervention. With the growing adoption of the Industrial IoT, requirements for monitoring solutions are increasing. These factors contribute to the evolution of the industrial IoT, proving to be an enormous opportunity for the conveyor monitoring market.
Many companies deploy conveyor monitoring systems to achieve operational excellence, decrease downtime, and increase productivity in their manufacturing plants. It is a predictive maintenance tool that provides critical information about the condition of the conveyor belt or motor, thereby making system maintenance more accessible and safer. The efficiency of these systems depends on the expertise required to measure and analyze the data accurately. Different types of expertise are necessary to verify monitoring systems' key parameters, such as abrasion, corrosion, belt tear, belt thinning, and foreign object. Additionally, mining and power plants are located in remote locations; hence, the availability of expertise at these remote locations is a major concern.
Conveyor monitoring becomes essential to avoid more damage to the conveyor belt or costly shutdowns. Conveyor belt monitoring consists of technologies such as X-ray, electromagnetic, and optical, along with other technologies. These various technologies are designed to increase production by monitoring the condition of the conveyor belt monitoring system. Hence, conveyor belt monitoring is expected to hold the largest share of the overall Conveyor Monitoring Market during the forecast period.
The adoption of automation in mining provides better productivity, ensures safety, minimizes wear & tear, enhances reliability, and improves quality. The safety of employees is always the top priority in mining operations. Environmental safety and efficiency are also critical matters for mining companies, especially fluctuating commodity prices. Hence, worldwide regulatory authorities have set stringent rules and regulations for mine owners to ensure the safety of mines. These strict regulations force manufacturers to adopt conveyor monitoring solutions
APAC is likely the fastest-growing region due to rapid urbanization, technological advancements, favorable government policies, and strong regional FDI inflows. In addition, the conveyor monitoring market in Australia is also likely to witness substantial growth owing to huge oil and mining reserves, international government policies, and cutting-edge innovations. Today’s global conveyor monitoring market is highly competitive due to the increasing demand for predictive maintenance techniques and the rising availability of remote conveyor monitoring and fault diagnosis systems.
Conveyor Monitoring Market by Region
To know about the assumptions considered for the study, download the pdf brochure
Some of the Major players in the Conveyor Monitoring Market are ContiTech (Germany), Fenner Dunlop (Australia), Phoenix (Germany), Beltscan (Australia), and Yellotec (South Africa). These players have adopted various growth strategies such as contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches to expand their presence in the Conveyor Monitoring Market.
ContiTech is a division of Continental Corporation headquartered in Hanover, Germany. It is one of the leading manufacturers and developers of conveyor belt technology. It also manufactures, develops, and markets automotive and industrial power transmission belts, such as pulleys and couplings, air spring systems, and industrial fluid solutions. ContiTech uses its technical know-how to manufacture electronic components, products, and systems made of metal, textiles, rubber, and fabric. The company offers conveyor belt systems and comprehensive servicing solutions for these conveyor belts and systems for applications in machine and plant engineering and industries such as mining, agriculture, and automotive.
Fenner Dunlop is a subsidiary of Fenner PLC. Fenner PLC was acquired by Michelin. The company manufactures and supplies conveyor systems, including belts, electrical, and terminal equipment. The company offers solutions for mining and industrial applications. Services offered by the company include engineering and design and field services for conveyor belts and conveyor monitoring.
Market size available for years
Base year considered
Type, industry, and region
North America, APAC, Europe, and RoW
Fenner Dunlop (Australia), PHOENIX CBS GMBH (Germany), ContiTech Conveyor Belt Group (Germany), Beltscan Systems Pty Ltd. (Australia), Yellowtec (Australia), Honeywell International Inc. (US) Emerson Electric Co. (US), SKF (Sweden), Bruel & Kjaer (Denmark), and Parker Hannifin Corporation (US)
In this report, the overall conveyor monitoring market has been segmented on the basis of type, industry, and geography.
What is new?
The Conveyor Monitoring industry has witnessed numerous technological advancements in terms of types over the years. Substantial investments have been made in the research & development and upgrades of Conveyor Monitoring. The value chain of the conveyor monitoring ecosystem starts with research and development (R&D), which comprises the analysis of system requirements, comparison of electronics specifications, and development of a prototype, followed by manufacturing and system integration phases.
Conveyor Monitoring Market by Type
Company profiles: Company profiles give a glimpse of the key players in the market with respect to their business overviews, financials, product offerings, recent developments undertaken by them, and MnM view. In the new edition of the report, we have 25 players (15 majors, 10 Startups/SMEs). Moreover, the share of companies operating in the Conveyor Monitoring Market and start-up matrix is included in the report.
Newer and improved representation of financial information: The new edition of the report provides updated financial information in the Conveyor Monitoring Market till 2021/2022 for each listed company in the graphical representation in a single diagram (instead of multiple tables). This would help to easily analyze the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, business segment focus in terms of the highest revenue-generating segment, and investment in research and development activities.
Recent Developments: Updated market developments such as contracts, joint ventures, partnerships & agreements, acquisitions, new product launches, investments, funding, and certification have been mapped for 2020 to 2022.
The new edition of the report consists of trends/disruptions in customer business, tariff & regulatory landscape, pricing analysis, and a market ecosystem map to better understand the market dynamics for Conveyor Monitoring.
What is the current size of the Conveyor Monitoring Market?
Conveyor Monitoring Market is projected to grow from USD 213.5 Million in 2019 to USD 253.6 Million by 2024, at a CAGR of 3.5% between 2019-2024.
Who are the winners in the Conveyor Monitoring Market?
ContiTech (Germany), Fenner Dunlop (Australia), Phoenix (Germany), Beltscan (Australia), and Yellotec (South Africa).
What are some of the technological advancements in the market?
OThe Internet of Things and Big data these days means big business. Monitoring Belt Conveyor Systems used to be performed by means of inspectors and offline. These days the developments are towards fully automated inspection systems. The IoT enables more information from sensor systems that were not available in the past. Theoretically, monitoring Belt Conveyor systems 24*7 should become a reality, and downtime and unexpected maintenance a things of the past.
What are the factors driving the growth of the market?
Rising adoption of predictive maintenance tools and techniques, increasing focus of companies on reducing revenue loss due to faults in conveyor belts and motors .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 14)
1.1 Study Objectives
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary and Primary Research
2.1.2 Secondary Data
126.96.36.199 List of Major Secondary Sources
188.8.131.52 Key Data From Secondary Sources
2.1.3 Primary Data
184.108.40.206 Primary Interviews With Experts
220.127.116.11 Primary Sources
18.104.22.168 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 24)
4 Premium Insights (Page No. - 29)
4.1 Attractive Market Opportunities for Global Conveyor Monitoring Market
4.2 Conveyor Monitoring Market, By Type
4.3 Conveyor Belt Monitoring Market, By Region and Type
4.4 Conveyor Monitoring Market, By Country, 2018
4.5 Conveyor Monitoring Market, By Industry
4.6 Conveyor Monitoring Market for APAC Vs. European Countries
5 Market Overview (Page No. - 32)
5.2 Market Dynamics
22.214.171.124 Rising Adoption of Predictive Maintenance Tools and Techniques
126.96.36.199 Increasing Focus of Companies on Reducing Revenue Loss Due to Faults in Conveyor Belts and Motors
188.8.131.52 Limited In-House Skillset to Manage Monitoring Solutions and Analyze Data
184.108.40.206 Growing Penetration of Industrial IoT
220.127.116.11 Rising Demand for Safety Compliance Automation Solutions
18.104.22.168 Availability of Expertise at Remote Locations
6 Conveyor Monitoring Market, By Type (Page No. - 36)
6.2 Conveyor Motor Monitoring
6.2.1 Motor Monitoring, By Technology
22.214.171.124 Vibration Monitoring
126.96.36.199.1 Defects Detected Using Vibration Monitoring
188.8.131.52.1 Defects Detected Using Thermography
184.108.40.206 Corrosion Monitoring
220.127.116.11.1 Defects Detected Using Corrosion Monitoring
18.104.22.168 Ultrasound Emission Monitoring
22.214.171.124.1 Defects Detected Using Ultrasound Emission Monitoring
126.96.36.199 Motor Current Analysis
188.8.131.52.1 Defects Detected Using Motor Current Analysis
6.2.2 Conveyor Motor Monitoring Market, By Offering
184.108.40.206.1 Vibration Sensors and Analyzers
220.127.116.11.3 Proximity Probes
18.104.22.168.5 Infrared Sensors
22.214.171.124.5.1 Thermal Infrared Sensors
126.96.36.199.5.2 Quantum Infrared Sensors
188.8.131.52.6.1 Infrared Spectrometers
184.108.40.206.6.2 Ultraviolet Spectrometers
220.127.116.11.6.3 Atomic Spectrometers
18.104.22.168.6.4 Mass Spectrometers
22.214.171.124.7 Ultrasound Detectors
126.96.36.199.7.1 Sound Pressure Meters
188.8.131.52.7.3 Ultrasound Leak Detectors
184.108.40.206.8 Spectrum Analyzers
220.127.116.11.8.1 Swept Spectrum Analyzers
18.104.22.168.8.2 Real-Time Spectrum Analyzers
22.214.171.124.9 Corrosion Probes
126.96.36.199.1 Data Integration
188.8.131.52.2 Diagnostic Reporting
184.108.40.206.3 Order Tracking
220.127.116.11.4 Parameter Calculation
6.2.3 Motor Monitoring, By Deployment Type
6.3 Conveyor Belt Monitoring
6.3.3 Optical Sensors
7 Conveyor Monitoring Market, By Industry (Page No. - 53)
7.2.1 Conveyor Monitoring is Essential in Mining Industry
7.3 Power Generation
7.3.1 Conveyor Monitoring is Preferred in Coal-Fired Power Plants
8 Geographic Analysis (Page No. - 59)
8.2 North America
18.104.22.168 US Accounts for Significant Share of the North American Conveyor Monitoring Market in Comparison With Remaining Countries in North America
8.2.2 Rest of North America
22.214.171.124 Rest of North America to Witness Higher CAGR in Market
126.96.36.199 Dominating Country in Europe for Market
188.8.131.52 Mining Industry in Russia Driving Demand for Conveyor Monitoring Solutions
8.3.3 Rest of Europe
184.108.40.206 Mining Industry Driving Market Growth in Rest of Europe
220.127.116.11 Financial and Strategic Involvement of Government Driving Market Growth
18.104.22.168 Significant Growth in Mining Industry Driving Demand for Conveyor Monitoring Solutions in Australia
22.214.171.124 Considerable Mining Activities Accelerating Market Growth in India
8.4.4 Rest of APAC
8.5 Rest of the World (RoW)
8.5.1 Middle East & Africa
126.96.36.199 Availability of Natural Resources Provides Opportunity for Rapid Growth of Mining Industry
8.5.2 South America
188.8.131.52 Investments in Metals Industry By Emerging Asian Economies
9 Competitive Landscape (Page No. - 71)
9.2 Ranking Analysis of Conveyor Monitoring Market Players
9.3 Competitive Leadership Mapping
9.3.1 Visionary Leaders
9.3.2 Dynamic Differentiators
9.3.4 Emerging Companies
10 Company Profiles (Page No. - 74)
(Business Overview, Products and Solutions Offered, SWOT Analysis, and MnM View)*
10.1 Key Players
10.1.1 Fenner Dunlop
10.1.3 Beltscan Systems
10.1.11 Bruel & Kjaer
10.1.12 Pruftechnik Dieter Busch
10.2 Other Key Players
*Details on Business Overview, Products and Solutions Offered, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
11 Appendix (Page No. - 93)
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
11.4 Available Customizations
11.5 Related Reports
11.6 Author Details
List of Tables (32 Tables)
Table 1 Conveyor Monitoring Market, By Type, 2015–2024 (USD Million)
Table 2 Conveyor Motor Monitoring Market, By Industry, 2015–2024 (USD Million)
Table 3 Conveyor Motor Monitoring Market, By Region, 2015–2024 (USD Million)
Table 4 Conveyor Motor Monitoring Market, By Technology, 2015–2024 (USD Million)
Table 5 Conveyor Motor Monitoring Market, By Offering, 2015–2024 (USD Million)
Table 6 Conveyor Motor Monitoring Market, By Deployment Type, 2015–2024 (USD Million)
Table 7 Conveyor Motor Monitoring Market for On-Premises Deployment Type, By Industry, 2015–2024 (USD Million)
Table 8 Conveyor Motor Monitoring Market for Cloud Deployment, By Industry, 2015–2024 (USD Million)
Table 9 Conveyor Belt Monitoring Market, By Type, 2015–2024 (USD Million)
Table 10 Conveyor Belt Monitoring Market, By Industry, 2015–2024 (USD Million)
Table 11 Conveyor Belt Monitoring Market, By Region, 2015–2024 (USD Million)
Table 12 Market, By Industry, 2015–2024 (USD Million)
Table 13 Conveyor Belt Monitoring Market for Mining Industry, By Type, 2015–2024 (USD Million)
Table 14 Conveyor Monitoring Market for Mining Industry, By Region, 2015–2024 (USD Million)
Table 15 Conveyor Motor Monitoring Market for Mining Industry, By Deployment Type, 2015–2024 (USD Million)
Table 16 Conveyor Belt Monitoring Market for Power Industry, By Type, 2015–2024 (USD Million)
Table 17 Market for Power Generation Industry, By Region, 2015–2024 (USD Million)
Table 18 Conveyor Motor Monitoring Market for Power Generation Industry, By Deployment Type, 2015–2024 (USD Million)
Table 19 Market, By Region, 2015–2024 (USD Million)
Table 20 Market in North America, By Country, 2015–2024 (USD Million)
Table 21 Market in North America, By Industry, 2015–2024 (USD Million)
Table 22 Market in North America, By Type, 2015–2024 (USD Million)
Table 23 Market in Europe, By Country, 2015–2024 (USD Million)
Table 24 Market in Europe, By Industry, 2015–2024 (USD Million)
Table 25 Market in Europe, By Type, 2015–2024 (USD Million)
Table 26 Market in APAC, By Country, 2015–2024 (USD Million)
Table 27 Market in APAC, By Industry, 2015–2024 (USD Million)
Table 28 Market in APAC, By Type, 2015–2024 (USD Million)
Table 29 Market in RoW, By Region, 2015–2024 (USD Million)
Table 30 Conveyor Monitoring Market in RoW, By Industry, 2015–2024 (USD Million)
Table 31 Market in RoW, By Type, 2015–2024 (USD Million)
Table 32 Market Players, 2018
List of Figures (39 Figures)
Figure 1 Conveyor Monitoring Market
Figure 2 Market: Research Design
Figure 3 Market: Bottom-Up Approach
Figure 4 Conveyor Monitoring: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions for Research Study
Figure 7 Market Segmentation
Figure 8 Market, 2015 to 2024 (USD Million)
Figure 9 Electromagnetic Conveyor Belt Monitoring Solutions to Account for Largest Market Size During 2019–2024
Figure 10 Vibration Monitoring Technology to Lead Conveyor Motor Monitoring Market in Terms of Size During 2019–2024
Figure 11 Mining Industry Expected to Command Market From 2019 to 2024
Figure 12 APAC to Witness Highest CAGR in Global Market During 2019–2024
Figure 13 Conveyor Monitoring Market Expected to Grow at Stable Rate From 2019 and 2024
Figure 14 Conveyor Motor Monitoring Market Expected to Grow at Higher Rate From 2019 to 2024
Figure 15 APAC and Electromagnetic Conveyor Belt Monitoring Solutions Accounted for Largest Market Share in 2018
Figure 16 Australia Captured Largest Share of Global Market in 2018
Figure 17 Mining Industry Expected to Continue to Account for Larger Share of Market From 2018 to 2024
Figure 18 APAC Countries to Witness Higher CAGR Than That of European Countries
Figure 19 Rising Adoption of Predictive Maintenance Tools and Techniques Drive Market
Figure 20 Industrial IoT Market, 2015–2023
Figure 21 Conveyor Motor Monitoring Market, By Offering
Figure 22 Conveyor Monitoring Market, By Industry
Figure 23 Europe: Market Snapshot
Figure 24 APAC: Market Snapshot
Figure 25 Market (Global) Competitive Leadership Mapping, 2018
Figure 26 Emerson: Company Snapshot
Figure 27 ContiTech: Company Snapshot
Figure 28 SKF: Company Snapshot
Figure 29 Honeywell: Company Snapshot
The study involved 4 major activities to estimate the current market size for conveyor monitoring solutions. Exhaustive secondary research has been done to collect the information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation procedures have been used to estimate the market size of segments and subsegments.
In the secondary research process, various secondary sources, such as Factiva and Avention, have been referred to for the identification and collection of information for this study. These secondary sources include annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles by recognized authors, regulatory bodies, trade directories, and databases.
Extensive primary research has been conducted after gaining knowledge about the conveyor monitoring scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand and supply sides across 4 major regions—North America, Europe, APAC, and RoW. Approximately 30% and 70% primary interviews have been conducted with parties from the demand and supply sides, respectively. The primary data has been collected through questionnaires, e-mails, and telephonic interviews.
The following figure shows the breakdown of primaries based on company type, designation, and region.
To know about the assumptions considered for the study, download the pdf brochure
Both top-down and bottom-up approaches have been used to estimate and validate the size of the global conveyor monitoring market and other dependent submarkets. Key players in the market have been identified through secondary research, and their market rankings in the respective regions have been determined through primary and secondary research. This entire research methodology involves the study of financial reports of top players and interviews with industry experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both quantitative and qualitative) on the conveyor monitoring market. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. All the possible parameters that affect the markets covered in this research study have been accounted for, viewed in detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets and presented in this report.
After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, the market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both the top-down and bottom-up approaches.
The conveyor monitoring market was valued at USD 206 million in 2018 and is projected to reach USD 254 million by 2024; it is estimated to grow at a CAGR of 3.5% from 2019 to 2024. The base year of the study is 2018, and the forecast period is from 2019 to 2024.
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report.