The conveyor monitoring market is expected to grow from USD 215 million in 2019 to USD 254 million by 2024; it is estimated to record a CAGR of 3.5%. Conveyor monitoring is typically practiced in mining and power generation plants. Factors driving the growth of the market for conveyor monitoring solutions are rising adoption of predictive maintenance tools and techniques , and increasing focus of companies on reducing revenue loss due to faults in conveyor belts and motors . The main objective behind implementing conveyor monitoring is to avoid any downturn in mining or power generation process by monitoring the conveyor motor and belt health.
ContiTech (Germany), Fenner Dunlop (Australia), and Phoenix (Germany) are the leading players in the conveyor monitoring market. Other prominent companies in the conveyor monitoring market include 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).
ContiTech (Germany) is one of the leading players in the conveyor belt monitoring market. The company manufactures and markets functional parts, components, and systems made of metal, plastic, rubber, and fabric for machine and plant engineering and industries such as mining, agriculture, and automotive. ContiTech is one of the leading manufacturers and developers of conveyor belt technology. It also offers comprehensive servicing solutions for conveyor belts and systems in the mining industry, mechanical and plant engineering, and other industries. The company’s geographic market is concentrated in regions such as North America, China, Europe, Asia, Australia, and Latin America.
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Fenner Dunlop (Australia) is among the leading companies in the conveyor belt monitoring market. Fenner Dunlop is a subsidiary of Fenner PLC. Fenner PLC was acquired by Michelin in May 2018. The company manufactures and supplies conveyor systems that include belts, electricals, 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 motors. The company has a wide product portfolio in conveyor solutions.
Phoenix (Germany) is one of the prominent companies in the conveyor belt monitoring market. Phoenix is an international group company headquartered in Hamburg, Germany. The company serves the bulk handling industry, offering complete solutions for textile and steel cord conveyor belts with manufacturing facilities all over the world. The company provides steel cord conveyor belts, textile conveyor belts, special conveyor belts, and protection systems for conveyor belts. The company offers conveyor monitoring solutions for the mining industry, and mechanical and plant engineering applications. The company provides tools for monitoring belts and splice conditions.
Conveyor Monitoring Market by (Technology, Offering, Deployment Type), Conveyor Belt Monitoring, Industry (Mining, Power Generation), and Geography (North America, Europe, APAC, RoW) - Global Forecast to 2024
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