Dublin, Aug. 20, 2024 (GLOBE NEWSWIRE) -- The "Global and U.S. Motorized Pulleys Market Size, Share, Forecast, & Trends Analysis by Power Output, Gear Material, Housing Material, Application, End User - Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The U.S. motorized pulleys market is projected to reach $249.4 million by 2031, at a CAGR of 3.5% from 2024 to 2031
The growth of the U.S. motorized pulleys market is driven by the increasing adoption of industrial automation and other Industry 4.0 technologies, the rising need to replace aging assets, and the growing demand for material handling solutions. However, suboptimal overall efficiency due to motorized pulleys' compact designs restrains the growth of this market.
Additionally, the growth of the e-commerce and logistics sectors and advancements in motor & control technologies are generating growth opportunities for the stakeholders in this market. Furthermore, the higher investment requirements of motorized pulleys compared to traditional pulleys are a major challenge restricting market growth.
Based on power output, the U.S. motorized pulleys market is segmented into up to 5 hp, above 5 hp to 15 hp, 15 hp to 50 hp, and above 50 hp. In 2024, the up to 5 hp segment is expected to account for the largest share of 37.3% of the U.S. motorized pulleys market. This segment's large market share is attributed to the increasing adoption & advancements of conveyor systems for transporting lightweight materials, and rising demand for industrial automation.
However, the above 5 hp to 15 hp segment is expected to record the highest CAGR of 4.3% during the forecast period. This segment's growth is driven by factors such as the increasing adoption of baggage handling systems in airports and the rising need to reduce labor costs and enhance efficiency across various industries.
Based on gear material, the U.S. motorized pulleys market is segmented into polymer, steel, and other gear materials. In 2024, the polymer segment is expected to account for the largest share of 49.1% of the U.S. motorized pulleys market. This segment's large market share is primarily attributed to the increasing emphasis among companies on developing highly durable polymers specifically designed for industrial applications, as well as the advantages of using polymer gears in motorized pulleys, such as their lighter weight and reduced noise levels compared to metal gears.
However, the steel segment is expected to record the highest CAGR during the forecast period. This segment's growth is primarily driven by factors such as the high durability of steel gears, which withstand the continuous wear & tear from moving large quantities of materials.
Based on housing material, the U.S. motorized pulleys market is segmented into aluminum housing, steel housing, and other housing materials. In 2024, the aluminum housing segment is expected to account for the largest share of the U.S. motorized pulleys market. This segment's large market share is attributed to the benefits offered by aluminum, such as affordability and corrosion resistance, and the growing preference for aluminum in environments prone to moisture or chemical exposure.
On the other hand, the steel housing segment is expected to record the highest CAGR during the forecast period. This segment's expansion is driven by the widespread preference for heavy-duty motorized pulleys due to their strength & durability across several industries.
Based on application, the U.S. motorized pulleys market is segmented into belt conveyors and roller conveyors. In 2024, the roller conveyors segment is expected to account for a larger share of 58.3% of the U.S. motorized pulleys market. This segment's large market share is credited to the growing advancement in conveyor systems and permeating use cases of roller conveyors across various industries.
However, the belt conveyors segment is anticipated to record the highest CAGR of 4.9% during the forecast period. The furtherance in automation and increasing adoption of automation technologies are some of the factors responsible for the belt conveyors segment's growth.
Based on end user, the U.S. motorized pulleys market is segmented into mining & mineral processing, cement manufacturers, steel industry, power generation, automotive manufacturers, consumer goods manufacturers, logistics & warehousing, food & beverage processing industry, and other end users. In 2024, the logistics & warehousing segment is expected to account for the largest share of 23.5% of the U.S. motorized pulleys market. This segment's large market share is attributed to the increased integration of conveyor systems in logistics and warehouse operation and benefits such as increased productivity, improved safety, and better space utilization of conveyor systems in the logistics industry.
On the other hand, the automotive manufacturers segment is expected to register the highest CAGR of 4.9% during the forecast period. This segment's growth is primarily driven by factors such as the focus of manufacturers on lowering reliance on human labor, especially for repetitive or dangerous tasks and tight production deadlines.
Key questions answered in the report:
- Which are the high-growth market segments based on power output, gear materials, housing materials, application, and end user?
- What was the historical market for U.S. motorized pulleys?
- What are the market forecasts and estimates for the period 2024-2031?
- What are the major drivers, restraints, and opportunities in U.S. motorized pulleys market?
- Who are the major players, and what shares do they hold in the U.S. motorized pulleys market?
- How is the competitive landscape in the U.S. motorized pulleys market?
- What are the recent developments in U.S. motorized pulleys market?
- Who are the local emerging players in the U.S. motorized pulleys market, and how do they compete with the other players?
Market Insights
Factors Affecting Market Growth
- Increasing Adoption of Industrial Automation and Other Industry 4.0 Technologies Driving the Demand for Motorized Pulleys
- Rising Need to Replace Aging Assets Boosting Market Growth
- Growing Demand for Material Handling Solutions Driving the Adoption of Motorized Pulleys
- Suboptimal Overall Efficiency Due to Motorized Pulleys' Compact Designs Restraining Market Growth
- Growth of the E-commerce and Logistics Sectors Expected to Accelerate Market Expansion
- Advancements in Motor and Control Technologies Generating Growth Opportunities for Market Players
- Higher Investment Requirements of Motorized Pulleys Compared to Traditional Pulleys Expected to Remain a Major Challenge Restricting Market Growth
Technology Trends
- U.S.: Macroeconomic & Microeconomic Analysis
- Value Chain Analysis
Company Profiles
- Rulmeca Holding S.p.A. (Italy)
- Van der Graaf Inc. (Canada)
- Interroll Holding AG (Switzerland)
- Sparks Belting (U.S.)
- Mol Belting Systems Inc. (U.S.)
- Shipp Belting Company (U.S.)
- Metso Corporation (Finland)
- Tech-Roll Inc. (U.S.)
- HIMMEL Antriebstechnik GmbH & Co. KG (Germany)
- Jiangsu Winroller Technology Co. Ltd. (China)
- Tianjin Seaparks Machinery-Electronics Co. Ltd (China)
Scope of the report:
U.S. Motorized Pulleys Market Assessment - by Power Output
- Up to 5 hp
- Above 5 hp to 15 hp
- 16 hp to 50 hp
- Above 50 hp
U.S. Motorized Pulleys Market Assessment - by Gear Materials
- Polymer
- Steel
- Other Gear Materials
U.S. Motorized Pulleys Market Assessment - by Housing Materials
- Aluminum Housing
- Steel Housing
- Other Housing Materials
U.S. Motorized Pulleys Market Assessment - by Application
- Belt Conveyors
- Friction Belt Conveyors
- Positive Drive Belt Conveyors
- Roller Conveyors
U.S. Motorized Pulleys Market Assessment - by End User
- Mining & Mineral Processing
- Cement Manufacturers
- Steel Industry
- Power Generation
- Automotive Manufacturers
- Consumer Goods Manufacturers
- Logistics & Warehousing
- Food & Beverage Processing Industry
- Other End Users
For more information about this report visit https://www.researchandmarkets.com/r/phb0b0
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
