Zion Market Research has published a new report titled “Conveyor Systems Market by Type (Belt, Roller, Pallet, Overhead, and Others) and by Application (Automotive, Airport, Retail, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global conveyor systems market was valued at approximately USD 7.45 billion in 2018 and is expected to generate around USD 9.98 billion by 2025, at a CAGR of around 4.26% between 2019 and 2025.
The high demand for conveyor systems across different industry verticals is likely to propel the market for conveyor systems over the estimated timeframe. Ongoing industrialization and urbanization coupled with the need to cut down manufacturing expenses and material handling costs are anticipated to further drive the global conveyor systems market in the future. Conveyor systems are machine-operated material handling equipment that is utilized to transport items in bulk. These systems provide a swift, active, and efficient transport solution with a high degree of reliability and safety. Owing to the effectiveness of transportation, a significant amount of time is reduced during the production process.
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It also helps in minimizing the errors in handling materials manually. The initial implementation and commercialization of conveyor systems took place for the transportation of automobiles and heavy materials in the manufacturing sector. Furthermore, the increasing adoption of the assembly line methodology among various industry verticals for mass production is also projected to stimulate the conveyor systems market in the upcoming years. However, the high installation costs of the conveyor systems may hamper the conveyor systems market in the future.
Based on the type, the conveyor systems market is segmented into the roller, belt, overhead, pallet, and others. The belt segment is expected to dominate the conveyor systems market in the future, owing to the growing need to manage the assembly line in the packaging industry. On the basis of application, the conveyor systems market is segmented into automotive, airport, retail, and others. The airport segment is expected to dominate the market over the estimated timeframe, owing to the increasing demand for conveyor belts due to growing baggage handling at airports.
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By region, Europe held a significant revenue share of the global conveyor systems market in 2018 and is expected to dominate in the upcoming years. This can be attributed to the growing acceptance of conveyor systems in the retail sector, especially in UK, Russia, etc., and the rising demand for new and advanced conveyor designs that occupy nominal space in the warehouse or manufacturing plant. North America is expected to provide significant growth opportunities for the global conveyor systems market in the years ahead, owing to the presence of mining and manufacturing plants in Ohio, Montana, Arizona, and Utah and the need for conveyor systems in the mining and manufacturing facilities to transport raw materials over long distances.
Some key players operating in the global conveyor systems market are Swisslog Holding AG, Taikisha Ltd., Emerson Electric Co., Interroll Holding Ltd., Dematic Group S.R.L., SSI Schaefer AG, TGW Logistics Group GmbH, Vanderlande Industries, Siemens AG, and Daifuku Co., Ltd., among others.
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This report segments the global conveyor systems market into:
Global Conveyor Systems Market: Type Analysis
Global Conveyor Systems Market: Application Analysis
Global Conveyor Systems Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa