Global conveyor system market is expected to reach to USD 10.6 Billion by 2025 at a CAGR of 6.9% during the forecast period from 2018-2025. Growing demand for handling larger volumes of goods and improving productivity and rising vehicle production to promote the conveyor systems market are two major factors affecting the growth of the market.
Conveyors are defined as mechanical equipment which is used in various industries, such as automotive, manufacturing, retail, food and beverage, and transportation, so as to minimize errors that occur while manually handling materials and to save time. Major conveyor types have been developed to suit the demand of the company which includes belt, roller, overhead conveyors, tri-planar, crescent conveyor, pallet and sorter conveyor and spiral conveyors, among others. Advanced conveyor products offered in the conveyor systems market have helped in simplifying and improving operations across different industries. For instance, Dematic announced a new advancement in product distribution with the Dematic Roller Non-Contact Accumulation (RNCA) platform which provides a variety of options for product takeoff from sortation systems horizontal, decline, powered, and gravity variants offer compact and controlled simulation.
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- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The conveyor system market is analysed on the basis of value (USD Billion) and volume (Thousand Units)
- The study delivers a comprehensive analysis of global conveyor system market by type, industry vertical and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global conveyor system market. This report incorporates the industry analysis which is focused on providing an extensive view of the conveyor system market.
- The study also includes attractiveness analysis of by type, industry vertical and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the conveyor system market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Increasing demand for handling larger volumes of goods and improving productivity
- Rising vehicle production to promote the conveyor systems market
- Shift towards Ecommerce trend
- Upsurge in demand for processed food to boost the demand for food & beverage conveyor systems
- Initial cost of investments is too high
- High demand of automated guided vehicles & robotics
- Rising trend of digitization in material handling industry
- Increasing manufacturing industry in developing countries
- Minimising chances of contamination in food items
- Ensuring safety and reducing accidents
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. TheAsia Pacificregion is dominating the market with the highest share of 42.30% in 2017.Asia Pacific is dominating the market. It is due to the improving economic conditions in developing economies such as China, India, and Thailand. The increasing population in countries such as China and India has boosted the demand for industries such as food & beverage, e-commerce, and automotive, thus fueling the demand for conveyor systems in these industries.
The major players of market include Daifuku Co., Ltd., Dematic Group S.àr.l., Emerson Electric Co., Interroll Holding Ltd., Siemens AG, Swisslog Holding AG, SSI Schäfer AG, Taikisha Ltd., Vanderlande Industries, TGW Logistics Group Gmbh, Caterpillar Inc., Dorner Mfg. Corp., Eisenmann Corporation, Fives Group, FlexLink, Mahindra Conveyor Systems, Murata Machinery, Ltd., Redler Limited, RUD, Shuttleworth, LLC., Terratec,AmmeraalBeltech Holding BV, ChiorinoS.p.A., Hytrol Conveyor Company, Inc., Intelligrated Inc., Kardex Group, Bastian Solutions, LLC, System Spa, Egemin Group NV and Dearborn Mid-West Company.
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