In 2021, the conveyor system market expanded slowly, with worldwide revenues reaching 3.5% year on year. According to FMI, the conveyor system market will reach US$ 13.7 billion in 2021, at a CAGR of 4.5%, due to rising mergers and acquisitions by Tier-1 firms and the use of machine learning and the internet of things in material handling solutions.
Conveyor systems are quite popular in the mining industry. In the mining business, large amounts of heavy items and debris must be transported and handled. Conveyor systems are a great solution for long-distance transportation because to their low cost and low maintenance.
Rising per capita income and strong economic expansion in developing countries such as India and Brazil are driving the manufacturing industry. This, along with automation in the fast-moving consumer goods (FMCG), baggage handling, and manufacturing industries, will boost market growth over the projection period.
Automated conveyor systems remove human error, improve safety, and boost production volume with great repeatability. Businesses are using sophisticated conveyor systems for material handling activities as a result of these benefits.
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The rise in online retailing activity, combined with rising demand for high-quality goods, will drive the retail industry’s adoption of conveyor and sortation systems. Conveyor systems are being installed by businesses to optimise warehouse spacing, sorting and cross-docking products, and automating the distribution process. Increased online shopping in India, China, Brazil, and Chile will boost the market growth in the coming years.
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.
“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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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
- Market Developments
- Key Success Factors
- Regional Opportunity Mapping
- Global Market Demand Analysis 2016 – 2020 and Forecast, 2021 – 2031
6.1. Historical Market Volume (‘000 Mtrs) Analysis, 2016 – 2020
6.2. Current and Future Market Volume (‘000 Mtrs) Projections, 2021 – 2031
6.3. Y-o-Y Growth Trend Analysis
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