According to the new market research report "Conveyor Monitoring Market by (Technology, Offering, Deployment Type), Conveyor Belt Monitoring, Industry (Mining, Power Generation), and Geography (North America, Europe, APAC, RoW) - Global Forecast to 2024"The conveyor monitoring market is likely to reach USD 254 million by 2024 from USD 215 million in 2019; it is estimated to record a CAGR of 3.5%.

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About Conveyor Monitoring :
The growth of this market can be attributed to the increasing focus of companies on reducing revenue loss due to faults in conveyor belts and motors, and the rising adoption of predictive maintenance tools and techniques.

Major players operating in the conveyor monitoring market

Beltscan Systems Pty Ltd. (Australia), Yellowtec (Australia), Honeywell International Inc. (US), ContiTech Conveyor Belt Group (Germany), Fenner Dunlop (Australia), PHOENIX CBS GMBH (Germany), Emerson Electric Co. (US), Bruel & Kjaer (Denmark), SKF (Sweden), and Parker Hannifin Corporation (US).

Browse 32 market data Tables and 29 Figures spread through 100 Pages and in-depth TOC on "Conveyor Monitoring Market - Global Forecast to 2024"

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“Conveyor belt monitoring to account for larger market share than conveyor motor monitoring”

Conventional methods of detecting failures in conveyors are unreliable, time-consuming, and labor-intensive. Conveyor belts carry tonnes of raw materials, minerals, and processed and unprocessed goods from a great distance. Conveyor belts are subject to many problems, including longitudinal cracks, damages to belt edges, belt wear and tear, belt overlapping on pulleys, cord misalignment, and insufficient belt cleaning.

“Mining industries to lead conveyor monitoring market from 2019 to 2024”

Conveyor monitoring becomes crucial for processes involved in mining. Mining sites are usually remotely located with the possibilities of having hazardous or inaccessible locations. Conveyors are commonly used in carrying raw materials or minerals for processing. The productivity of mining sites depends on the continuity of the mining process, which, in turn, directly depends on the availability of continuously working conveyors.
“APAC to be largest market for conveyor monitoring during forecast period”

APAC is anticipated to be the fastest-growing region for the conveyor monitoring market due to the technological innovation and adoption of automation technologies in various industries.

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