The conveyor system market grew steadily in 2021, with global revenues increasing 3.5% year on year. The conveyor system market is expected to reach US$13.7 billion in 2021, at a CAGR of 4.5%, due to increased mergers and acquisitions by Tier-1 companies and the integration of machine learning and the internet of things in material handling solutions, according to FMI.
The mining industry has a strong demand for conveyor systems. The mining sector requires the handling and transportation of significant quantities of heavy equipment and debris. Conveyor systems are a great option for long-distance transportation because of their inexpensive price and low maintenance requirements.
The manufacturing sector is being driven by rising per capita income and brisk economic expansion in developing nations like India and Brazil. This will accelerate market expansion during the projection period, along with automation in the fast-moving consumer goods (FMCG), baggage handling, and manufacturing industries.
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Automated conveyor systems boost production volume with excellent repeatability, eliminate human error, and enhance safety. Businesses are employing contemporary conveyor systems for material handling procedures due to these benefits.
Conveyor and sortation system usage in the retail sector will be driven by an increase in online retailing activity as well as a growth in consumer demand for high-quality goods. Businesses are using conveyor systems to organise product sorting and cross-docking, improve warehouse spacing, and automate distribution. In the upcoming years, the market expansion will be boosted by rising internet shopping in Brazil, China, Chile, India, and these countries.
Key Takeaways from FMI’s Conveyor system Market Study
The North American conveyor system market is forecast to expand at a 3.5% CAGR due to rapid growth in the online retail sector.
Growing adoption of automation in the automotive and manufacturing industry, surging mining and construction activities along with growing e-commerce industry in the U.K. and Germany are the key factors driving the market in Europe.
Population surge, increase in demand for processed food, and the presence of e-commerce giants like Alibaba group will drive the demand for conveyor systems in FMCG and packaging industries in China.
India is expected to offer lucrative opportunities as home to one of the leading retail sectors after the U.S. and China. Steady consumer demand and rising investment toward the expansion of retail infrastructure will boost the demand for advanced material handling systems, such as conveyor systems.
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“Increasing penetration of automation in material handling and distribution system and increase in several supermarkets and distribution centres will boost the demand for conveyor system in upcoming years,” says the FMI analyst.
In response to the pandemic, Multi-Conveyor collaborated with East Coast representatives to develop a hand-pack conveyor system to effectively follow social distancing in the workplace and launched “Barrier Spaced Conveyor” in July 2020.
Dürr Group introduced an automated guided vehicle designed for paint shops as a part of its intelligent production initiative in May 2019.
Prominent players operating in the conveyor system market are:-
- Daifuku
- BEUMER GROUP
- Interroll Holding AG
- Murata Machinery
- Schaefer Systems International
- Dürr Group
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Conveyor System Market Key Segments
By Product Type:
- Belt Conveyor
- Roller Conveyor
- Pallet Conveyor
- Overhead Conveyor
- Tri-Planar Conveyor
- Crescent Conveyor
- Skid Conveyor
- Trailer Conveyor
- Others
By Operation Type:
- Manual
- Semi-Automatic
- Automatic
By Capacity Type:
- Unit Handling
- Bulk Handling
By Application Type:
- Packaging & Warehouse Distribution
- Textile & Paper
- Construction & Mining
- Automotive & Transportation
- Consumer Electronics
- Food & Beverage
- Chemical & Pharmaceutical
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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