Conveyor System Market

Introduction of the Conveyor System Market Report

A conveyor system is a standard piece of mechanical handling equipment that is used by various industries. It is used to move products, goods, raw materials, and other materials from one place to another, usually in the same area or building. Conveyor system enables efficient and quick transportation of business products and materials and enables to move heavy items, such as vehicles down a production line. This makes them popular in the packaging and material handling industries as well as manufacturing industries.

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Market Dynamic

Key Drivers and Emerging Trends

Conveyor System market is witnessing an increase in demand over the forecast period. This is owing to the various factors, which include growing need for automation to reduce manufacturing and operational costs, rising industrialization, and enhancing production efficiency. In addition, companies are investing in the research & development activities to focus on lean manufacturing techniques to optimize the production process and develop cost-effective and environment-friendly conveyor systems. For instance, in 2020, FLSmidth launched pipe conveyors, which deliver reliable and cost-effective material transportation in challenging topography. Moreover, growth in motor vehicle manufacturing has increased the adoption of assembly line methodology and mass production. Furthermore, manufacturers are offering customized conveyor systems to cater to specific customer needs. All these factors will significantly boost the growth of the global conveyor system market.

Impact of COVID-19 on the Conveyor System Market

The widespread outbreak has disrupted supply chain and largely affected the e-retailing companies. It has shown a dramatic spike in orders and reduction in shipping and manufacturing as well as with products running out of stock. This has brought an abrupt change in consumer buying behavior, which has created a massive demand for warehouse spaces, thus further increasing the demand for conveyor systems.

Restraint in the Conveyor System Market

On the other hand, the major factor hampering the growth of the market is the decline in capital investments due to trade deficits. In addition, high installation costs is another factor that might act as a restraint in the growth of the global conveyor system market.

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Type – Segment Analysis

Based on the type, the belt conveyor segment is anticipated to witness a faster CAGR over the forecast period. This is majorly due to the growing passenger traffic at airports, which in turn, is increasing the need for modernization, development, and expansion at airports. Belt conveyors are highly preferred owing to its features such as lower maintenance and easy installation. All these factors play a vital role in surging the growth of the market.

Industry Vertical – Segment Analysis

On the basis of the industry vertical, the retail segment is projected to grow at a higher CAGR during the forecast period. The retailers are extensively adopting automated distribution and warehousing solutions to optimize warehouse space utilization. The retail sector utilizes conveyor systems for sorting, cross-docking, and distribution & warehousing operations. Furthermore, the changing behavior of consumers towards purchasing goods is giving rise to the adoption of online retailing, which requires proper warehousing. For instance, in 2018, UPS announced the expansion of their sortation capacity to reach over 25% increase in cross border order by 2022. All these factors are likely to boost the growth of the retail segment.

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Region – Segment Analysis

Based on the region, Asia-Pacific region is expected to grow at a higher CAGR over the forecast period. This is mainly attributed to the improving economic conditions in countries such as India, Thailand, and China. The rapidly increasing population in China and India are further bolstering the demand for various industries, which include food & beverages, automotive, e-commerce, among others. Furthermore, Asia-Pacific has 20-23 airports under construction, which are planned to be completed between 2020 to 2030. For instance, the Beijing Daxing International Airport in China, which is the second airport in Beijing, started its operation in 2019. This new airport has seven runways to accommodate 620,000 flights and 100 million passengers every year. These factors significantly propel the growth of the conveyor system market in Asia-Pacific region. 

Top Market Players

Various notable players operating in the market include Daifuku Co., Ltd., Emerson Electric Co., Interroll Group, Swisslog Holding AG, Siemens, Taikisha Ltd., Dematic, Vanderlande Industries B.V., SSI Schafer AG, and TGW Logistics Group GmbH, among others. 

Key developments

• • In 2019, Daifuku Co., Ltd. announced the acquisition of Vega Conveyors & Automation Private Limited. This acquisition was aimed at expanding the company’s business in India and other markets within Oceania and Asia by leveraging its expertise and technology.
  • In 2018, Interroll Group launched the world’s most powerful, stainless steel synchronous drum motor for belt conveyor systems. It comes with a proven output of up to 1.1 KW, a high torque up to 100 Nm, and extremely high belt tension.

Segments covered in the Report:

The global conveyor system market has been segmented on the basis of type, industry vertical, and regions. Based on type, the market is segmented into belt conveyors, roller conveyors, pallet conveyors, overhead conveyors, and others. Based on industry vertical, the market is segmented into automotive, airport, retail, food & beverages, and others. 

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Key questions answered in this research report:

• • At what pace is global conveyor system market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in conveyor system market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global conveyor system market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various industry verticals of global conveyor system market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Industry Vertical, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Daifuku Co., Ltd., Emerson Electric Co., Interroll Group, Swisslog Holding AG, Siemens, Taikisha Ltd., Dematic, Vanderlande Industries B.V., SSI Schafer AG, TGW Logistics Group GmbH, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

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

• • North America Conveyor System Market (Option 1: As a part of the free 25% customization)
    • North America Conveyor System Market by Type
    • North America Conveyor System Market by Industry Vertical
    • US Conveyor System Market All-Up
    • Canada Conveyor System Market All-Up
  • Europe Conveyor System Market (Option 2: As a part of the free 25% customization)
    • Europe Conveyor System Market by Type
    • Europe Conveyor System Market by Industry Vertical
    • UK Conveyor System Market All-Up
    • Germany Conveyor System Market All-Up
    • France Conveyor System Market All-Up
    • Spain Conveyor System Market All-Up
    • Rest of Europe Conveyor System Market All-Up
  • Asia-Pacific Conveyor System Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Conveyor System Market by Type
    • Asia-Pacific Conveyor System Market by Industry Vertical
    • China Conveyor System Market All-Up
    • India Conveyor System Market All-Up
    • Japan Conveyor System Market All-Up
    • Rest of APAC Conveyor System Market All-Up
  • RoW Conveyor System Market (Option 4: As a part of the free 25% customization)
    • RoW Conveyor System Market by Type
    • RoW Conveyor System Market by Industry Vertical
    • Brazil Conveyor System Market All-Up
    • South Africa Conveyor System Market All-Up
    • Saudi Arabia Conveyor System Market All-Up
    • UAE Conveyor System Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Conveyor System Market All-Up

Major Players Operating in the Conveyor System (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Daifuku Co., Ltd.
  • Emerson Electric Co.
  • Interroll Group
  • Swisslog Holding AG
  • Siemens
  • Taikisha Ltd.
  • Dematic
  • Vanderlande Industries B.V.
  • SSI Schafer AG
  • TGW Logistics Group GmbH