The market for belt type continuous-action elevators and conveyors for goods or materials in Belgium experienced fluctuations from 2013 to 2023. In 2023, the market stood at 75.87 million euros. Following a peak in 2017, the market value declined, stabilizing around 73 million euros from 2019 to 2021, before slight growth in 2022 and 2023. Despite recent modest recovery, the overall compound annual growth rate over the past five years was negative, at -0.83%.
In looking ahead, industry players should watch for advancements in automation and smart technology, sustainability demands, and potentially increased construction and manufacturing activities, which could drive market growth and innovation.
