Conveyor Monitoring Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Conveyor Monitoring Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : March, 2023 | Semiconductor & Electronics

Report Digest

Global Conveyor Monitoring Market - Snapshot

The increased knowledge of predictive maintenance technologies and approaches, as well as enterprises' increased focus on reducing revenue loss due to conveyor system breakdowns is likely to favor growth of the market. Furthermore, the conveyor monitoring system contributes to the reduction of maintenance costs, the elimination of waste, and the enhancement of customer credibility. Due to increased knowledge of machine status monitoring and the need to mitigate damages caused by human mistake during industrial operations, the need for conveyor monitoring is increasing. Furthermore, growing awareness of predictive maintenance techniques and technologies reduces waste is likely to fuel development of the global conveyor monitoring market.

Firms in the global conveyor monitoring market, such as Sandpit and Vayeron, are concentrating on incorporating sophisticated technologies, like monitoring technology and automation, to enhance safety demands. In the next years, this is projected to transform the need for an upgraded conveyor with greater safety. As a result, the conveyor monitoring industry will see a major rise in the next few years to come.

Increasing Demand for Conveyor Output and Efficiency to Spell Growth for the Market

The technique of detecting the state of the conveyor belt and conveyor motor whilst it is in use is known as conveyor monitoring. It can also detect probable failures ahead of time, resulting in less maintenance and downtime for conveyors. Conveyor efficiency and output in the industry are also improved as a result of this. Longitudinal fractures, improper belt cleaning, belt overlapping on pulleys, cord misalignment, belt wear and tear, damage to belt edges,  and other issues can occur with conveyor belts. In the power and mining generation industries, every conveyor interruption has a significant impact on productivity.

With tearing off the conveyor belt, protruding steel cables, insufficient cleaning,  wear and tear, deteriorated splices, and foreign items on it, belt damages may have damaged the carcass. To avoid costly shutdowns and minimize damage to the conveyor belt, conveyor monitoring becomes necessary, which is likely to work in favor of the global Conveyor Monitoring Market in the near future.

Conveyor Monitoring Market: Overview 

The global field device management market is anticipated to grow at a significant pace during the forecast period. 

Conveyor monitoring is the process of detect condition of conveyor belt and conveyor motor. This helps in operation and detecting a potential failure in advance thus helping in low maintenance, reduced downtime of conveyors, and increased efficiency of conveyors in the production industry. 

TMR Research has announced to add a report on conveyor monitoring market in its ever growing repository. The report is expected to offer an in depth analysis on industry with all important segments of the market. Along with this, the report will help users with all the vital data that will help indicating growth and latest trend in the conveyor monitoring market during the forecast period. 

Conveyor Monitoring Market: Notable Developments 

Some of the recent development in the conveyor monitoring market are- 

Companies in the conveyor monitoring market such as Vayeron and Sandpit are focusing to improve safety need by incorporating advanced technology such as automation and monitoring technology. This is expected to revolutionize the demand for advanced conveyor with increased safety in the next few years. Thus offering a significant boost to the conveyor monitoring market in the coming few years.  

Some of the most prominent competitors operating in the competitive landscape of global conveyor monitoring market include –

  • Fenner Dunlop
  • ContiTech Conveyor Belt Group
  • SKF
  • Bruel & Kjaer
  • Beltscan Systems Pty Ltd.
  • Yellowtec
  • Honeywell International Inc.
  • Emerson Electric Co.
  • Parker Hannifin Corporation

The competition is expected to highly intensify with an increase in the number of players in future. 

Conveyor Monitoring Market: Key Trends 

The conveyor monitoring market is expected to rise at a prominent pace in the coming few years. This is mainly due to the rising focus of companies towards reduction of revenue loss due to faults in conveyor systems coupled with the increasing awareness of predictive maintenance tools and techniques. In addition to this, the conveyor monitoring system also helps in eliminating wastage, cut maintenance costs and increase credibility of the customers. 

Conveyor belts often suffer from faults such a longitudinal crack, damages to belt edges, belt wear and tear, and belt overlapping on pulleys. This hamper the productivity of the production units, in order to avoid large number of industry players are adopting conveyor monitoring system. This is a prominent factor expected to drive the global conveyor monitoring market in the coming few years.   

However, factors like high costs of installation and maintenance of conveyor monitoring system is a strong factor expected to hamper growth of the global conveyor monitoring market.

Nevertheless, increasing integrate of conveyor monitoring system with several other sensor and detector are some other factors expected to drive the global conveyor monitoring market. 

Conveyor Monitoring Market: Regional Outlook 

On the basis of geography, the conveyor monitoring market is divided into Asia pacific, North America, Europe, Latin America and the Middle East and Africa. Among all these regions, Asia Pacific is expected to account for the largest share of the conveyor monitoring market in the coming few years. This is mainly due to presence of several players in the region. Apart from this, factors such as technological innovation and adoption of automation technologies in the mining and power generation industries are some other factors anticipated to play a vital role in the growth of the conveyor monitoring market in the forecast period.

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

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Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

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Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?