Conveyor Monitoring Market at a CAGR of 5.5% Rising Enterprise Efficiency and Dominated by Top Competitors (Honeywell, Trolex, 4B, PHOENIX, Emerson) and Global Forecast to 2026
The report covers a forecast and an analysis of the Conveyor Monitoring Market on a global and regional level. The study provides historical data for 2016, 2017, and 2018 along with a forecast from 2019 to 2026 based on revenue and volume.
Overview of the Global Conveyor Monitoring Market:
The Global Conveyor Monitoring Market accounted for $ 193.16 Million in 2017 and is expected to reach $ 312.75 Million by 2026 growing at a CAGR of 5.5% during the forecast period (2019-2026).
Some of the key factors such rising focus of companies on reducing revenue loss due to faults in conveyor belts and motors and increasing adoption of analytical tools and techniques are boosting the market growth. However, the limited in-house skillset to manage solutions and analyze data is the restraining factors for the market growth. Moreover, the rising demand for safety compliance automation solutions coupled with growing digitization in material handling industry and growth of industrial IOT will provide ample opportunities for the growth of the market.
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The process in which the condition of the conveyor belt and conveyor motor is determined while it is in operation and the potential failure in advance is detected, thereby resulting in low maintenance, increased efficiency of conveyors and production in the industry is called as Conveyor Monitoring.
By Application, mining industry segment is likely to grow with highest CAGR during the forecast period due to the reasons like extraction of mineral, metal reserves and fabrication of metals which use conveyor monitoring solutions as they are essential in the mining industry.
Regionally, Asia Pacific is expected to observe significant growth in the forecast period, mainly due to the technological innovation and adoption of automation technologies in the mining and power generation industries.
This comprehensive Conveyor Monitoring Market research report 2019 – 2026 includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers.
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Major Key Players:
4 Fenner Dunlop
5 Bruel & Kjaer
6 Beltscan Systems
10 CBG and More……………
Market Segment by Types:
- Conveyor Belt Monitoring
- Conveyor Motor Monitoring
Market Segment by Applications:
- Oil and Gas
- Power Generation
- Mining Industry
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This study answers to the below key questions:
1 What will the market size be in 2026 and what will the growth rate be?
2 What are the key market trends?
3 What are the challenges to market growth?
4 Who are the key players in this market?
5 What are the market opportunities and threats faced by the key players?
Table of Contents:
1 Executive Summary
3 Conveyor Monitoring Market Trend Analysis
4 Porters Five Force Analysis
5 Global Conveyor Monitoring Market, By Type
6 Global Conveyor Monitoring Market, By End User
7 Global Conveyor Monitoring Market, By Geography
8 Key Developments
9 Company Profiling
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