DUBLIN--(BUSINESS WIRE )--The "Conveyor Belt Market in Mining Industry - Growth, Trends, Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The global conveyor belt market in the mining industry (henceforth, referred to as the market studied) was valued at USD 1,624.2 million in 2019, and it is expected to reach USD 2010.5 million by 2025 registering a CAGR of 3.78% during 2020-2025.

The mining industry heavily relies on conveyor belts to transport materials taken for processing. Hence, the industry witnesses an increase in conveyor belts' investments as it makes operations cleaner, safer, and more productive.

In June 2020, Coal India Ltd had planned to invest INR 157 billion in conveyor belts that will replace road movement between mines and wagons. The first phase will upgrade infrastructure at 35 mines, each with a capacity of four million tonnes per annum (MTPA) or more at six subsidiaries of the company. This involved capital expenditure (Capex) of about Rs 12,300 crore and a total capacity of 406 MTPA. Phase-2 includes 14 projects in which four subsidiaries will spend Rs 3,400 crore for a total capacity of 100.5 MTPA.

In August 2019, Coal India announced an INR 100 billion investment in conveyor belts to transport coal directly from mines more cheaply and cleanly without using trucks. It will also cut down theft as well as the diversion of coal and help maintain quality.

In the mining industry, drive technology has a significant influence on conveyor performance and system availability. Three-phase asynchronous motors plus gear units have proved a robust, quick-to-install, low-maintenance variant here. Players like Siemens has decades of experience in bulk material conveyor technology. High availability, proven technology, and low costs are the advantages of driving solutions for these applications.

In mining industry practices, the required output and desired mining operator specifies rotary speed as design parameters, determining the heat to be dissipated, which may strongly influence the dimensioning process. This has partly resulted in operating conditions that make a gear unit advisable larger than the output originally necessitates.

If conveyor belts operate in climatic zones that are unusually warm or even prone to extreme heat-cold fluctuations, a lot of attention must be paid to cool.

Steel Cord to Witness Significant Growth Rate

A conveyor belt is a vital element of the conveyor that is used continuously in transport facilities in fields, such as mining, coal, port, electric power, chemical industry, metallurgy, architecture, and food. In the mining field, the strength of the conveyor belt largely determines the carrying capacity and has a great impact on operational safety. Thus, in order to increase the strength of the conveyor belt, steel cords are arranged inside the rubber.

There have been increasing cases of belt broken accidents, which was a result of a decrease in splice (the weakest region of the conveyor belt) strength. This has led to the development of detection devices that work using various methods.

The technological processes in the mining industry include various raw material transportation operations that consume remarkable amounts of energy and generate a significant share of the overall mining costs. Thus, the biggest savings that can be achieved by a mining company are through an energy-efficient conveyor belt, resulting in reducing CO2 emissions.

North America to Dominate Market Share

North America is a prominent market for conveyor belts due to its continued adoption across the mining industry. The market growth of conveyor belts is dependent on the inherent demand for mining in the country. According to the United States Geological Survey, the estimated value of non-fuel minerals produced at the US mines in 2019 was USD 86.3 billion, and coal mining represented 24% of the production value of US mining operations in 2019, accounting for 26% of mining employment.

In the United States, government support for mining in the form of executive orders, such as for critical minerals development or in the form of regulatory changes, has aided the industry. Despite this, permitting continues to be a deterrent to mining project development in the United States.

Canada is home to one of the most active mining industries worldwide. According to the Mining Association of Canada, the country ranks in the top five members involved in the production of 13 major minerals and metals, including uranium, nickel, potash, cobalt, aluminum, diamonds, titanium, and gold.

With the United States' high dependence on Canada for the majority of the commodities imported, mines in Canada are expected to grow at a relatively faster pace. As a result, strong demand for base and precious metals has driven exploration and expansion, thus driving the mining industry's growth in Canada.

For more information about this report visit https://www.researchandmarkets.com/r/3pepob

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900