Analysts forecast the pulley market to reach $249.4 million by 2031, at a CAGR of 3.5%.
The growth of the pulley market is driven by a number of factors,
including increasing demand for material handling solutions and replacement of aging assets, but compact designs are likely to limit growth.
Pulley segmented by output
In the U.S. pulley market, pulleys are segmented based on power,
with the up to 5 hp segment expected to account for the largest share by 2024,
owing to advancements in conveyor systems and industrial automation. However,
the 5 hp to 15 hp segment is also expected to witness the highest CAGR, owing to the increasing adoption of case and package seizure equipment.
Pulleys segmented by gear material
Pulleys have also been categorized base on gear material,
The polymer sector is forecast to hold with the largest share the pulley market throughout 2024 attributing to its merit of light weight and low noise; however,
the steel sector is expected to register the highest CAGR owing to its strong durability which is less affected by wear and tear.