08-Jun-2021 | Facts and Factors
According to a survey released by Facts and Factors, the global conveyor systems market stood at USD 7.65 billion in 2020 and is predicted to register USD 9.85 billion by the end of 2026, rising at a CAGR of nearly 4.30% between 2021 and 2026.
Conveyors are mechanical devices that are used in a variety of sectors such as automotive, industrial, retail, food and beverage, and transportation. Conveyors are used to decreasing the number of mistakes that occur when items are handled manually and to save time. Multiple conveyor systems have been created as a result of ongoing changes in industry needs in terms of projected efficiency and product attributes. Conveyors come in a variety of shapes and sizes, including belts, roller, overhead, tri-planar, crescent, pallet and sorter conveyors, and spiral conveyors.
In the conveyor systems market, newer types of conveyor goods have aided in the simplification and improvement of operations in a variety of sectors. The utilization of firms that provide a mixture of basic conveyor types that are built into a single conveyor system is becoming more common in the market. This is provided as a bespoke solution based on the customer's requirements. Various sectors are now establishing quality requirements that encourage the usage of conveyors. The intralogistics period is changing dramatically, and as the economy becomes more globalized, supply chain cycles are decreasing and the international flow of commodities (import and export) is expanding and accelerating. Consumers are growing more demanding, and supply chains and corporate processes are growing more complicated. Simultaneously, competition between rich and emerging economies, as well as individual conveyor system market participants, is intensifying. As a result, automated equipment like conveyor systems is gaining popularity. Belt-driven conveyor systems have gained substantial popularity in the worldwide market in recent years. In a conveyor system, the belt that is utilized as a driver is the most important component. Polyurethane and neoprene are the most often utilized belt materials. Furthermore, prominent manufacturers are vying to provide their customers with high-quality belts that will last longer with less maintenance. As a result, advancements in belt material are likely to minimize conveyor system maintenance costs and total operating expenses, hence adding to market growth.
Market Dynamics
Conveyors have been installed in plants and facilities as a result of the need to increase efficiency and improve the fast movement of goods. In addition, demand for conveyors is supported by the need to modernize aging conveyor systems. Conveyor systems that are very energy efficient and gearless are becoming increasingly popular in this market. This trend is fueled by regulatory requirements as well as end-user concerns about conveyor energy and operational efficiency. Companies are continuously searching for process optimization in an increasingly competitive market across all industries, which has boosted the need for industrial facility automation. Various continuous improvements in automation have been observed in the business. These can aid in satisfying material handling capacity needs, resulting in decreased production time, decreased human error, enhanced safety, higher production volume, and enhanced precision and repeatability. Conveyor systems are an important part of all automated facilities and applications, and with recent advancements in automation and robotics, the systems are becoming smarter, with benefits such as predictive maintenance, energy economy, and electric actuation. The rapid growth of the e-commerce business throughout the world has caused a major shift in the warehousing and logistics industries, with a significant influence on the conveyor system market. Industry 4.0 is progressively infiltrating a variety of industries, bringing with it a plethora of alternatives that must be appropriately explored. Industry operators are always concentrating on increasing their efficiency and establishing an agile environment to fit with the demanding world of customers, with a multitude of technologies ready to be incorporated into the current infrastructure.
North America is projected to Dominate Global Conveyor System Market Growth
In terms of value, Asia Pacific was the largest market for conveyor systems in 2020. Conveyor systems are now in high demand due to the considerable growth of the e-commerce sector and the resulting development of storage. The conveyor system market's growth prospects remain bright in Europe and North America, thanks to increased acceptance of newer technology across sectors, which has prompted manufacturers to expand their capacity. Europe, as an early adopter, has seen considerable use of conveyor systems in a variety of sectors. In order to remain competitive in the industry, conveyor system manufacturers in the region have engaged in research and development. Germany and the United Kingdom are at the cutting edge of industrial research and development. An environment that allows enterprises to develop cutting-edge innovations is created by extensive R&D infrastructure, a highly qualified staff, and comprehensive industrial value chain integration.
Browse the full “Conveyor System Market By Type (Belt, Roller, Pallet, Overhead, Tri planar, Bucket, Floor, Cable, Crescent, and Others), By Operation (Manual, Automatic, Semi-automatic), By End-Use Industry (Food & Beverage, Automotive, Airport, Pharmaceuticals, Electronics, Retail & Distribution, Mining, and Others) By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/conveyor-system-market.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 7.65 Billion |
Projected Market Size in 2026 |
USD 9.85 Billion |
CAGR Growth Rate |
4.3% CAGR |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
Daifuku Co. Ltd., Emerson Electric Co, Interroll Group, Siemens, Swisslog Holding AG, Dematic, Taikisha Ltd., SSI Schafer AG, Vanderlande Industries B.V., Honeywell Intelligrated, Fives, TGW Logistics Group GmbH, Continental Conveyor, Shuttleworth, RUD, Redler, Nordstrong, Murata Machinery, Mahindra Conveyor Systems, FMC Technologies, Flexlink, Allied Conveyor Systems, Durr AG, Toyata Industries, Bastian Solutions Inc., and Others |
Key Segment |
By Type, Operation, End-Use Industry, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Top Market Players
Major players operative in the global Daifuku Co., Ltd., Emerson Electric Co, Interroll Group, Siemens, Swisslog Holding AG, Dematic, Taikisha Ltd., SSI Schafer AG, Vanderlande Industries B.V., Honeywell Intelligrated, Fives, TGW Logistics Group GmbH, Continental Conveyor, Shuttleworth, RUD, Redler, Nordstrong, Murata Machinery, Mahindra Conveyor Systems, FMC Technologies, Flexlink, Allied Conveyor Systems, Durr AG, Toyata Industries, and Bastian Solutions Inc. amongst others.
The global conveyor system market is segmented as follows:
By Type:
- Belt
- Roller
- Pallet
- Overhead
- Tri planar
- Bucket
- Floor
- Cable
- Crescent
- Others
By Operation:
- Manual
- Automatic
- Semi-automatic
By End-Use Industry:
- Food & Beverage
- Automotive
- Airport
- Pharmaceuticals
- Electronics
- Retail & Distribution
- Mining
- Others
By Region:
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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