DUBLIN, Oct. 6, 2022 /PRNewswire/ — The “Conveyor System Market by Industry (Retail & Distribution, Food & Beverage, Automotive, Electronic, Mining, & Airport), Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket, Others) Component, Operation, & Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global conveyor system market size is projected to reach USD 12.7 billion by 2027, from an estimated value of USD 9.4 billion in 2022, at a CAGR of 6.0%. Higher adoption of customized-automated material handling solution based upon niche specifications in various end-use industries and rising demand for handling larger volumes of goods are the driving factors that are expected to boost the conveyor system market. The constant investments in R&D by conveyor system manufacturers accompanied with growing supply chain network is to fuel the demand for conveyor solution in the forecast period.
By industry, retail & distribution is expected to be the largest market owing to increase in e-commerce
The retail & distribution industry has expanded in recent years owing to various reasons, such as the increase in online shopping, changing lifestyles, rising working-class population, and relaxations in government regulations, such as FDIs. These factors have fuelled the growth of supermarket/hypermarket chains and distribution centres. Similar trends are being observed in emerging countries where the retail industry is growing and creating new avenues for supermarket/hypermarket giants, majorly due to the rise in the adoption of e-commerce platforms. According to the United Nations Industrial Development Organization, consumption of goods in developed countries is expected to rise to approximately USD 30.0 trillion by 2025. This is expected to increase the penetration of industrial automation and the requirement for efficient material handling systems.
By type, belt conveyor is projected to be the largest and one of the fastest growing markets during the forecast period
Belt conveyors can handle higher capacities at a significantly lower cost per ton kilometer and cover longer distances easily and economically than other conveyors. The belt conveyor can be used for special purposes such as fire resistance, wear resistance, corrosion resistance, and high angle negotiation and integrated with other equipment. It can be used in combination with other conveyors in various industries, such as retail, food & beverage, and airport. Due to its flexibility and use in various industries, the demand for belt conveyors is estimated to be the highest during the forecast period.
Asia Pacific is projected to be the fastest growing market during the forecast period.
The market’s growth in Aisa Pacific is aided by rising demand for conveyors in industries such as manufacturing, automotive, and e-commerce. Manufacturing is one of Asia Pacific’s important economic pillars, and it is undergoing fast transition. Low-cost manufacturing enterprises, such as automotive and electronics manufacturers, are reportedly shifting to Southeast Asia to decrease costs, which is predicted to enhance conveyor use. Natural resources and their acquisition provide major market prospects for conveyors in the region, which automate process flow. The broad landscape provides new opportunities for logistics companies to introduce conveyors to help materials transition more smoothly. Conveyors and sortation systems are in high demand in the airport, post and parcel, and warehousing sectors. Furthermore, the manufacturing industry has seen an increase in demand for an automatic sortation system integrated across the conveyor belt, which lowers the error rate and so improves the overall efficiency of the general warehouse logistic module, removing any associated supervision and loss.
Market Dynamics
Drivers
- Higher Adoption of Automation Processes in Various End-Use Industries to Enhance Operational Efficiency
- Rising Demand for Handling Larger Volumes of Goods
- Increase in Demand from Mining Industries for Material Handling
- Rapid Growth in E-Commerce
Restraints
- Capital Intensive Nature and Higher Upfront Cost
- Increasing Usage of Automated Guided Vehicles and Robotics
- Requirement of Skilled Workforce for Repair and Maintenance of Sales
Opportunities
- Increasing Supply Chain Automation & Lean Logistics Management
- Advanced Conveyor Systems
- Green Conveying
Challenges
- Presence of Domestic Players in Regional Markets
- Ensuring Safety and Reducing Accidents
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Conveyor System Market, by Type
7 Conveyor System Market, by Operation
8 Conveyor System Market, by Component
9 Conveyor System Market for Airport Industry, by Conveyor Type
10 Conveyor System Market for Retail & Distribution Industry, by Conveyor Type
11 Conveyor System Market for Mining Industry, by Conveyor Type
12 Conveyor System Market for Automotive Industry, by Conveyor Type
13 Conveyor System Market for Electronics Industry, by Conveyor Type
14 Conveyor System Market for Food & Beverage Industry, by Sub-Industry
15 Conveyor System Market, by Region
16 Competitive Landscape
17 Company Profiles
18 Recommendations
19 Appendix
Companies Mentioned
- Bastian Solutions LLC
- Beumer Group
- Continental Ag
- Daifuku Co Ltd
- Dematic
- Dmw&H
- Fives Group
- Honeywell International Inc
- Interroll Holding Ag
- Invata Intralogistics
- Kardex Group
- Knapp Ag
- Metso Outotec Corporation
- Mhs Global
- Murata Machinery, Ltd
- Semperit AG Holding
- Siemens Ag
- Ssi Schaefer
- Swisslog Holding Ag
- Taikisha Ltd
- Vanderlande Industries
- Westfalia Technologies, Inc
For more information about this report visit https://www.researchandmarkets.com/r/n5gd1h
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SOURCE Research and Markets
