Conveying Equipment Market size is anticipated to witness healthy growth through 2026
Ongoing investments by top retail players, alongside e-Commerce industry expansion, are expected to give conveying equipment market share a substantial boost over the projected timeframe.
For instance, Alibaba Group Holding Ltd. announced the commercial platform expansion to small U.S. businesses in July 2019, allowing product marketing via its website.
As the expansion strategies of e-Commerce players continue to rise, the demand for advanced automation equipment for transporting and sorting products will witness a considerable surge. This, in turn, is likely to offer lucrative opportunities for the conveying equipment market forecast.
According to reliable reports, the global conveying equipment market size is anticipated to exceed $65 billion by 2025.
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In order to reduce the operational costs and product processing cycle duration, as well as to handle bulk material, the industrial automation systems are widely used. Mounting implementation of these systems in developing countries will add impetus to the conveying equipment industry expansion. For example, the use of belt conveyors for packaging and processing food products is gaining vast prominence in the food & beverage industry.
Surging conveying equipment demand in countries such as Canada, Brazil, and Australia, to increase production process is due to the rising labor costs.
In terms of segmentation by product, conveying equipment market from the unit handling segment is likely to witness significant adoption, creating a large impact on industry trends. This unit handling conveyor delivers safe and reliable handling of products in corrosive, humid, dusty, normal, external, and internal environments. Lighter loads of up to around 75 pounds are suitable for this system and are used to carry discrete and large items. Additionally, they are used in certain settings where manual positioning or rotation of products is required.
With regards to the application spectrum, the durable manufacturing segment will hold a major market share, owing to the rising demand for computer equipment and industrial machinery.
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Conveying equipment delivers efficient manufacturing, wholesale, and retail distribution of compressors or generators, motors, outdoor equipment, power tools, heating & cooling equipment, appliances, and other durable goods. Benefits of adopting this system include durability and resistance, which allow continuous transportation and handling of goods, even in harsh conditions.
On the regional front, the APAC conveying equipment market is set to exhibit a high growth rate over the forecast spell. The burgeoning manufacturing sector in APAC countries including Thailand, Malaysia, Indonesia, South Korea, India, and China is a major factor amplifying industry growth in the region. The growth of this sector can be further attributed to rising focus and initiatives of the government, including Made in China, Industry 4.0, and Make in India.
Accelerated consumer demands are being fulfilled through the adoption of advanced technologies by several large and SME manufacturers. Burgeoning efforts to implement conveying equipment systems as alternatives to human labor across China are likely to bolster market outlook over the years ahead.
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Fenner Group Holdings Ltd., KUKA AG, Viastore Systems, Inc., Kion Group AG, Jungheinrich AG, Toyota Industries Corp., Kardex Group, Murata Machinery, Ltd., and TGW Logistics Group GmbH are some key players operating in conveying equipment industry.
With an aim to sustain in the competitive market, industry players are focusing on various pricing and product differentiation strategies. Manufacturers are making consistent efforts to deliver advanced technology-integrated products, to cater to the rising industry-specific applications demand.
Asia Pacific Material Handling Equipment Market: https://www.marketwatch.com/press-release/asia-pacific-material-handling-equipment-market-size-industry-report-by-2025-2020-12-04
Asia Pacific Construction Equipment Market: https://www.marketwatch.com/press-release/asia-pacific-construction-equipment-market-statistics-report-to-2025-2020-12-04
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