Conveyor Monitoring Market - Size, Share & Industry Analysis

Conveyor Monitoring Market Analysis

The conveyor monitoring market was valued at USD 206.77 million in 2020 and expected to reach USD 264.67 million by 2026 and grow at a CAGR of 4.2% over the forecast period (2021-2026). The rising focus of companies towards the reduction of revenue loss owing to faults in conveyor systems coupled with the growing 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 the credibility of the customers.

According to World Multidisciplinary Earth Sciences Symposium, the financial losses that American underground hard coal mines incur due to downtime caused by belt failures are estimated at USD 240 000, i.e. approx. USD 1 000 per minute, as mean repair time was 4 hours. Losses of this scale, which occurred due to emergency downtimes in the period of increased coal demand, were the reason behind developing a machine vision system which monitors splice and belt condition and which prevents failure.
The demand for conveyor monitoring market is quickening owing to the improved awareness for machine condition monitoring and the requirement of mitigating damages occurring due to human error during industrial processes. Furthermore, increased recognition for predictive maintenance techniques and tools, eliminate wastages fuelling the growth of the market has augmented the market.
Companies in the conveyor monitoring market such as Vayeron and Sandpit are focusing to improve safety needs by incorporating advanced technology such as automation and monitoring technology. This is expected to revolutionize the demand for an 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.

Conveyor Monitoring Market Trends

This section covers the major market trends shaping the Conveyor Monitoring Market according to our research experts:

Conveyor Belt Monitoring To Hold Major Share

When a conveyor system goes down, it adds to the cost in terms of both time and money. For example, when a large open-pit mine plans to replace a drive train component on a conveyor, it can result in an as long as eight-hour outage and USD 2.5 million in lost production. Often, the impact of such disruptions does not stop at just production delays but instead has a far-reaching ripple effect.
Conveyor belts often suffer from faults such a longitudinal crack, damages to belt edges, belt wear and tear, and belt overlapping on pulleys. This hampers the productivity of the production units, in order to avoid a large number of industry players are adopting a conveyor monitoring system.
US Mine Safety and Health Administration (MSHA) has investigated multiple coal mine fires and determined the possible causes of fires in coal mines. The report includes 62 coal fires caused by conveyor belts, which accounted for around 20% in total of the coal fires reported to the MSHA by US coal mine operators. The major ignition source is frictional heat which can then be divided into friction at the driver unit, friction along the belt (attributed to friction between the rubber belt, wooden posts, coal dust, and spillage) and friction between the idler bearings and the races or the belt or support structure. This has increased the focus on the monitoring of conveyor belts.

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Asia-Pacific To Witness Major Growth

Among grographic region segment, the market in APAC is expected to grow at the highest rate from 2020 to 2025. The growth of the market in this region is mainly attributed to the technological innovation and the increasing adoption of the automation technologies in various end-user industries. Rapid rate of urbanization, complementing technological advancements, favorable government policies, and healthy FDI inflows in the region are among few of the other critical factors driving the conveyor monitoring demand in the region.
The APAC region is witnessing a wave in the deployment of conveyor monitoring solutions to help improve operational effeciency. China and Australia, being the top mining countries in the region, have been adopting real-time conveyor monitoring systems to improve the operational efficiency and production in the country.
Moreover, Australia is likely to hold a high potential for the market growth owing to the presence of the vast reserves of oil and minerals. These have also helped in the establishment of a robust mining sector in the country. Additionally, favorable government policies, coupled with the adoption of the latest technologies in condition monitoring, is expected to augment the market growth in the country over the forecast period. The growing demand for predictive maintenance techniques and tools, along with the rising availability of remote conveyor monitoring and fault diagnosis systems, has resulted in fierce competition among manufacturers.
Major Australian market players such as Fenner Dunlop and Beltscan offer a broad range of products in the market for conveyor monitoring. With Australia being one of the forerunner in the mining industry, the region holds the largest market share of the conveyor monitoring market.

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Conveyor Monitoring Industry Overview

The conveyor monitoring market is highly competitive owing to the presence of various prominent players supplying their product in domestic as well as in the international markets. The market appears to be moderately fragmented with the major players adopting strategies like product innovation and mergers and acquisitions.

May 2019 - 4B Components opened their new state of the art elevator bucket injection molding facility in Morton Illinois. The new facility enables a more efficient manufacturing process, increased capacity and improved responsiveness to the demands of the agricultural and industrial markets. The new injection molding plant is located in a 45,000 square feet facility that can produce 5,000 buckets per day. The production facility is located on the same site as the sales, technical, and engineering departments, allowing this new facility to better meet the demands of their customers.

Conveyor Monitoring Market Leaders

ContiTech AG
Emerson Electric Co
Honeywell International Inc.
Fenner Dunlop Inc.
Yellow Technical Services (Pty) Ltd.

*Disclaimer: Major Players sorted in no particular order

ContiTech AG, Emerson Electric Co, Honeywell International Inc., Fenner Dunlop Inc., Yellow Technical Services (Pty) Ltd.

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Conveyor Monitoring Market Report - Table of Contents

1. INTRODUCTION
1. 1.1 Study Assumptions
2. 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
1. 4.1 Market Overview
2. 4.2 Market Drivers
  1. 4.2.1 Rising Adoption of Predictive Maintenance Tools and Techniques
3. 4.3 Market Restraints
  1. 4.3.1 Limited In-House Skillset to Manage Monitoring Solutions and Analyze Data
  2. 4.3.2 High Costs of Installation and Maintenance
4. 4.4 Industry Attractiveness - Porter's Five Force Analysis
  1. 4.4.1 Threat of New Entrants
  2. 4.4.2 Bargaining Power of Buyers/Consumers
  3. 4.4.3 Bargaining Power of Suppliers
  4. 4.4.4 Threat of Substitute Products
  5. 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
1. 5.1 By Type
  1. 5.1.1 Hardware
  2. 5.1.2 Software
2. 5.2 By Type of Monitoring
  1. 5.2.1 Conveyor Belt Monitoring
  2. 5.2.2 Conveyor Motor Monitoring
3. 5.3 By End-user Industry
  1. 5.3.1 Automotive
  2. 5.3.2 Consumer Goods Packaging
  3. 5.3.3 Mining
  4. 5.3.4 Other End-user Industries
4. 5.4 Geography
  1. 5.4.1 North America
    1. 5.4.1.1 US
    2. 5.4.1.2 Canada
  2. 5.4.2 Europe
    1. 5.4.2.1 Germany
    2. 5.4.2.2 UK
    3. 5.4.2.3 Rest of Europe
  3. 5.4.3 Asia Pacific
    1. 5.4.3.1 China
    2. 5.4.3.2 Japan
    3. 5.4.3.3 India
    4. 5.4.3.4 Rest of Asia-Pacific
  4. 5.4.4 South America
    1. 5.4.4.1 Mexico
    2. 5.4.4.2 Brazil
    3. 5.4.4.3 Argentina
    4. 5.4.4.4 Rest of South America
  5. 5.4.5 Middle East and Africa
    1. 5.4.5.1 South Africa
    2. 5.4.5.2 Egypt
    3. 5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
1. 6.1 Company Profiles
  1. 6.1.1 Fenner Dunlop Inc.
  2. 6.1.2 Emerson Electric Co
  3. 6.1.3 Beltscan Systems Pty Ltd.
  4. 6.1.4 ContiTech AG
  5. 6.1.5 PHOENIX CBS GmbH
  6. 6.1.6 CBG Conveyor Belt Gateway
  7. 6.1.7 4B Braime Group
  8. 6.1.8 Yellow Technical Services (Pty) Ltd.
  9. 6.1.9 Honeywell International Inc.
2. *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Conveyor Monitoring Industry Segmentation

Conveyor monitoring is considered as the process of determining the condition of the conveyor systems such as the belt and the motor while it is in operation. It assists in detecting any potential failure propability in advance, thereby supporting to cut the cost of maintenance, help reduce downtime of conveyors, and increase and maintain the efficienct running of conveyors and production in the industry.

By Type
		Hardware
		Software

By Type of Monitoring
		Conveyor Belt Monitoring
		Conveyor Motor Monitoring

By End-user Industry
		Automotive
		Consumer Goods Packaging
		Mining
		Other End-user Industries

Geography

North America
	US
	Canada

Europe
	Germany
	UK
	Rest of Europe

Asia Pacific
	China
	Japan
	India
	Rest of Asia-Pacific

South America
	Mexico
	Brazil
	Argentina
	Rest of South America

Middle East and Africa
	South Africa
	Egypt
	Rest of Middle East and Africa

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Conveyor Monitoring Market Research FAQs

What is the current Conveyor Monitoring Market size?

The Conveyor Monitoring Market is projected to register a CAGR of 4.20% during the forecast period (2024-2029)

Who are the key players in Conveyor Monitoring Market?

ContiTech AG, Emerson Electric Co, Honeywell International Inc., Fenner Dunlop Inc. and Yellow Technical Services (Pty) Ltd. are the major companies operating in the Conveyor Monitoring Market.

Which is the fastest growing region in Conveyor Monitoring Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

Which region has the biggest share in Conveyor Monitoring Market?

In 2024, the North America accounts for the largest market share in Conveyor Monitoring Market.

What years does this Conveyor Monitoring Market cover?

The report covers the Conveyor Monitoring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Conveyor Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Conveyor Monitoring Industry Report

Statistics for the 2024 Conveyor Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Conveyor Monitoring analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Study Period	2019 - 2029
Base Year For Estimation	2023
CAGR	4.20 %
Fastest Growing Market	Asia Pacific
Largest Market	North America
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Study Period:
CAGR:
Countries/ Region Covered:
Major Players:

Conveyor Monitoring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)