Press release
APAC conveying equipment market to grow at 2.5% CAGR over 2018-2024: Sandvik, Dematic, Rexnord, Intelligrated, Hitachi, Siemens and FMC Technologies
Conveying Equipment Market
Conveying equipment market size worth over USD 34 billion in 2017. Increasing infrastructure spending, particularly in Asia Pacific and LATAM will also catalyze the market size over the forecast timeframe. Moreover, growing automation in the manufacturing industries as a result of shifting focus towards mass production to decrease the capital investments will further favor conveying equipment market trends.
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Expanding construction industry, which was worth nearly USD 9.5 trillion in 2015, will positively impact conveying equipment demand over the coming timeframe. Surging applications in automotive industry for manufacturing and shipment of vehicles will generate heavy demand for conveyor systems, in turn influencing the market size. In addition to this, rising e-commerce & food & beverages industry which in turn demands for simultaneous production and delivery of goods will also be lucrative sectors contributing towards conveying equipment market share.
Stringent government regulations to ensure employee safety is another vital factor fueling the industry size. For instance, OSHA (Occupational safety and health administration) has restricted human exposure to harmful work environments, which has made it mandate to install these systems across such work spots, thereby boosting the industry growth trends.
However, tight supply of raw materials such as steel, polyester, cotton, rubber, and coated fabrics, over the coming years may inhibit the industry progress.
APAC conveying equipment market size is estimated to grow at a CAGR of around 2.5% over 2018-2024, driven by favorable regulations, increased infrastructure spending and growing industrialization across this region. India and China are estimated to drive the regional growth.
U.S. conveying equipment market will witness a significant growth over the forecast timeframe, catalyzed by the expansion of automotive and aerospace industry across this region.
Europe market is poised to grow noticeably over the projected timeframe, driven by the growing automation in automotive and manufacturing industries. Germany and France will be the major revenue pockets.
Key industry participants are Sandvik, Dematic, Rexnord, Nordstrong Equipment, Intelligrated, Daifuku, Webster, Richards Wilcox, Hitachi, FMC Technologies, and Siemens.
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Segments We Cover:
Conveying Equipment Market Share, By Product
Unit handling
Bulk handling
Parts & attachments
Conveying Equipment Market Size, By Application
Durable goods
Non-durable goods
Others
The above information has been provided for the following regions and countries:
North America
U.S.
Canada
Europe
Germany
UK
France
Russia
Italy
Poland
Asia Pacific
China
India
Japan
Indonesia
Malaysia
South Korea
Thailand
Latin America (LATAM)
Brazil
Middle East & Africa (MEA)
South Africa
Saudi Arabia
UAE
Browse key industry insights from this report @
https://www.graphicalresearch.com/industry-insights/1058/conveying-equipment-market
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