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In the mining industry, conveyors play a pivotal role as raw material input is carried away by conveyor belts. Conventional methods of conveyor monitoring were unreliable, inconsistent, time consuming and labour-intensive. Disruption in the Conveyor belts hampers the productivity and damages the spares mainly belt edges, cord misalignment. Owing to this, companies face revenue losses and workflow gets stuck.
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Demand for conveyor monitoring is emerging as it helps to identify potential failure in advance which results in reducing downtime of conveyors. Conveyor monitoring is a process whereby the status of condition of the conveyor belt and conveyor motor is determined while it is in operation. The demand for conveyor monitoring market is accelerating owing to rising requirement of mitigating damages occurred due to human error during the industrial processes. Furthermore, increasing awareness for predictive maintenance techniques and tools, eliminate wastages fuelling the growth of the market. Similarly, safety compliances and standard laws deprived by the legal authorities driving the pace of global conveyor monitoring market.
Key players operating in the global conveyor monitoring market are PHOENIX CBS GmbH, ContiTech AG, Beltscan Systems Pty Ltd, Fenner Dunlop, Cablevey Conveyors, Emerson Electric Co., Cassel Messtechnik GmbH, Sesotec GmbH, 4B Braime among others.
By End-use Industry
· Food & Beverage
· North America (the USA and Canada and Rest of North America)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
The product awareness is expected to grow in Asia Pacific as a result of adoption of automation technologies in many industries mainly mining and power generation industries. Furthermore, Australia owes huge oil and mining reserves, favourable government policies, strong foreign direct investments inflows resulting in propelling the global conveyor monitoring market. China being one to the top mining countries focusing on adoption of real-time conveyor monitoring systems to increase the operational efficiency and production in the country.
North America is expected to remain dominant region in the forecast period owing to growing food and industry, demand for innovative products such as malfunction detector systems, increasing employment and high purchasing power of public.
Key Industry Developments
· February 2019: - Mining3 and Ava Group revealed to launch an innovative predictive asset monitoring solution for conveyors equipped with advanced fibre optic sensing technology.
· February 2019: - Semtech Corp and Transco Industries partnered up to provide a remote monitoring solution for conveyor belts.