Conveyor Systems Market Driving Huge Growth Due to Rise in Industrialization & Automation

Conveyor Systems Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $7,573 million by 2022, registering a CAGR of 4.3% during the period 2016-2022. Europe is expected to dominate throughout the forecast period due to boost in the e-commerce retail industry. Asia-Pacific region is expected to grow at the fastest rate owing to extensive demand from china and India.

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Material handling equipment such as conveyor systems have experienced an upsurge in demand in recent past. Manufacturing industry players have not only focused on improving quality and production efficiency, but have also made significant investments towards reducing waste and production costs through automation. However, high initial installation costs of such systems could hamper their market growth. The demand for eco-friendly, cost-effective and safe conveyors systems are expected to generate the additional demand for the market growth.

Geographic Review

Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Europe dominates the global conveyor systems market owing to heavy investment by automotive and food & beverage industry players in automation, followed by North America. LAMEA region has exhibited significant growth due to rapid industrialization. Especially, emerging countries such as Brazil has been facilitating the market growth.

Key Market Players

Market players profiled in the report include Daifuku Co., Ltd., Dematic Group S. r.l., Emerson Electric Co., Interroll Holding Ltd., Siemens AG, Swisslog Holding AG, SSI Schfer AG, Taikisha Ltd., Vanderlande Industries, TGW Logistics Group GmbH. Players such as Daifuku Co., Ltd., Dematic Group S. r.l., Interroll Holding Ltd. and Taikisha Ltd.

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Key Findings

Conveyor systems market has witnessed a steady growth globally, due to growing automation trends in manufacturing processes and material handling.

Belt conveyor systems find multiple applications as they are easy to install and their capability to convey variety of materials.

Retail sector would continue to lead the market on account of growth in warehouse space across the global.

Asia-Pacific and LAMEA regions exhibit the fastest growth globally due to growth in food & beverage and retail industries.

Market players are entering into contract and forming agreements with various customer industry players to improve the market share.

Emerging countries such as China, India, Brazil and Mexico have been exhibiting the conducive market environment owing to increased manufacturing activities.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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