Industrial Belt Drives Industry Industrial Belt Drives Industry | Page 2

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Market is broadly categorized into major segments based on the application type such as material handling
industry, industrial machinery, agriculture sector, and mining & minerals sector. Industrial machinery segment
is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity
of industrial belt drives in the industrial machinery segment is attributed to the increasing manufacturing
activities in North America and Asia Pacific region. The material handling industry segment has also witnessed
substantial growth due to increasing adoption of conveyor systems and growing demand for power transmission
equipment.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation of latest technologies in
manufacturing sector, surge in number of research & development activities in the region and existence of well-
established industrial infrastructure.
Asia-Pacific region is estimated to hold major share in the market with massive growth in forecast period.
Countries such as India, China, Japan and Singapore are leading the Asia-Pacific market with strong economic
growth, rising manufacturing activities, and significant investment by leading industry players considering
potential growth opportunities in the region.
The key players in the industrial belt drives market are ContiTech AG, Dayco Products Corp., Fenner PLC, Gates
Corp., Optibelt GmbH, B&B Manufacturing, Inc., Belt Company Ltd., Brammer Ltd., Hutchinson S.A., Jason
Industrial, Inc., and Pix Transmission Ltd.
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