The role of warm conveyor belts (WCBs) and their associated positive low-level potential vorticity (PV) anomalies are investigated for extratropical cyclones in Northern Hemisphere winter, using ERA-Interim and composite techniques. The Spearman correlation coefficient of 0.68 implies a moderate to strong correlation between cyclone intensification and WCB strength. Hereby, cyclone intensification is quantified by the normalized maximum 24-h central sea level pressure deepening and WCB strength by the WCB air mass associated with the cyclone's 24-h period of strongest deepening. Explosively intensifying cyclones typically have strong WCBs and pronounced WCB-related PV production in the cyclone center; they are associated with a WCB of type W2, which ascends close to the cyclone center. Cyclones with similar WCB strength but weak intensification are either diabatic Rossby waves, which do not interact with an upper-level disturbance, or cyclones where much of the WCB-related PV production occurs far from the cyclone center and thereby does not contribute strongly to cyclone deepening (WCB of type W1, which ascends mainly along the cold front). The category of explosively intensifying cyclones with weak WCBs is inhomogeneous but often characterized by a very low tropopause or latent heating independent of WCBs. These findings reveal that (i) diabatic PV production in WCBs is essential for the intensification of many explosive cyclones, (ii) the importance of WCBs for cyclone development strongly depends on the location of the PV production relative to the cyclone center, and (iii) a minority of explosive cyclones is not associated with WCBs.