Conveyor System Market
The Conveyor System Market is estimated to grow at a significant CAGR over the forecast period (2020-2027).
The factors driving the growth of Conveyor System Market includes increasing use of conveyor systems in E-commerce and manufacturing industries to handle large volumes of goods, rise in the number of shopping malls and complexity in supply chain. According to the report published by Statista, the e-commerce retail sales worldwide was valued around USD 4.9 trillion in 2021 and is further forecasted to reach USD 7.4 trillion by the end of 2025, which will boost the Conveyor System Market Growth in the approaching years. Moreover, the integration of smart sensors and advanced communication systems with conveyor systems, rise in the air passenger traffic around the world, increasing demand for convenient food and growing concerns related material safety, are some of the additional factors supplementing the market growth. In addition, the incentives provided by Governments across the world to boost the manufacturing of automobiles, increasing investments by leading players on research and development, rising disposable incomes and rapid urbanization, are further contributing to the market growth.
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However, the growth of Conveyor System Market is hindered due to high installation costs of conveyor systems.
The prominent players operating in the market are Taikisha Ltd., Dematic, Vanderlande Industries B.V., Emerson Electric Co., Interroll Group, Swisslog Holding AG, Siemens, Taikisha Ltd., Dematic, SSI Schafer AG, and TGW Logistics Group GmbH, among others.
Type – Segment Analysis
Based on Type, the Belt Conveyors segment is expected to expand at a remarkable CGAR over the forecast period. The belt conveyors are easy to install and require low maintenance, along with rise in air passenger traffic at airports, are some of the important factors responsible for the growth of the segment.
Industry Vertical – Segment Analysis
Based on Industry Vertical, the Retail segment is anticipated to grow at a steady CAGR during the forecast period attributed to increasing use of conveyor systems in retail sector for cross-docking, and warehousing operations.
Regional – Segment Analysis
Based on Region, the Asia-Pacific region is predicted to capture a sizeable market share over the forecast period. Rapid growth in Food & Beverages and Automotive industries, rise in air passenger traffic, improvements in living standards, growing adoption of advanced conveyor systems, increasing per-capita incomes and high population density, are some of the factors augmenting the market growth in Asia-Pacific
Market Segmentation
Global Conveyor System Market by Type
- Belt Conveyors
- Roller Conveyors
- Pallet Conveyors
- Overhead Conveyors
- Others
Global Conveyor System Market by Industry Vertical
- Automotive
- Airport
- Retail
- Food & Beverages
- Others
Global Conveyor System Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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