Aug 29, 2018
Increase in Passengers Traveling Via Airways to Complement Growth of Belt Loaders Market, States Fact.MR
by Team Fact.MR
Belt loaders have evolved as a useful for airport applications, thereby creating a multitude of opportunities for vendors in belt loaders market. Also, belt loaders market is recording burgeoning demand from civil as well as military applications to handle luggage during loading and unloading. Swift technological advancements such as belt loaders armed with sensors for detecting obstacles also reduces extra cost of damage during baggage handling, thereby pushing growth of belt loaders market. Furthermore, remarkably progressing carbon footprint is one of the primary concerns, which is well-curtailed by electric belt loaders. Due to the aforementioned aspect, electric belt loaders are foreseen to witness substantial demand over the forecast period for carbon footprint reduction. This, in turn, is believed to spur revenues of belt loaders market. As per the report mentioned by Fact.MR, the belt loaders market was sized over US$ 8,000 Mn in 2018. The market is further estimated to value around US$ 14, 309 Mn by 2028 end.
Airline traffic is witnessing a year-on-year growth in the light of a myriad of conveniences offered. Several emerging countries such as China, India, and Indonesia, are witnessing a huge traveling demographic preferring airlines over other means of long-distance transport. Moreover, key airlines are vying to provide attractive offers to customers, which are again bolstering the airline traffic. Hence, remarkably rising number of airlines passengers is foreseen to create lucrative dimensions for belt loaders market. By product type, self-propelled type is poised to dominate the belt loaders market in terms of revenue. North America is said to be the most dominant market in terms of revenue tied to presence of several top-notch companies operating in belt loaders market.
Key manufacturers operating in belt loaders market are emphasizing on striking innovations in belt loader products for enhancing customer base over the forecast timeline. Integrating sensors with belt loaders is one of the prime innovations in the belt loaders market. Some other prominent innovations include introduction of multi-transfer belt loaders for safety & ergonomics at workplace and development of RBL (Regional Belt Loader) for furnishing needs of narrow-body aircraft.
Hence, high pace of technological innovation in belt loader products will help the belt loaders market to record an outstanding growth over the forecast period.
With growing concerns of surging carbon footprint and violation of environmental sustainability across the globe, use of devices running on electricity has evolved as a major trend. Top-notch manufacturers in belt loaders market are highly emphasizing on offering products that are environment-friendly and comply with governmental regulations. For example, prominent manufacturers such as JBT Corp., Mulg, TLD Group have started offering electric belt loaders across the globe, which are witnessing surprising demand in the global belt loaders market.
One of the highly obvious restraints hindering growth of the market is high prices of belt loaders. Belt loaders are quite costly by virtue of their extreme nature and persistent working hours. They are meant to endure long working hours and require high efficacy & accuracy, without undermining the final performance. Consequently, they are built with high precision leading to surge in prices. Moreover, risks associated with use of belt loaders such as musculoskeletal injuries, operational hazards, driving dangers, and mechanical failure are also envisioned to limit growth of belt loaders market. Also, lack of skilled professionals for operating belt loaders may result in safety mishaps and poor production output. That being the case, could inhibit the growth of belt loaders market to a certain extent.