Growth Opportunities and Latent Adjacency in Conveyor System Market | MarketsandMarkets

The Global Conveyor System Market size is projected to reach $10.6 billion by 2025, at a CAGR of 3.9%.

Opportunity: Increase in demand for material handling from warehouse and pharmaceutical companies during the COVID-19 crisis

The production and distribution of personal protective equipment (PPE) kits and medicines such as hydroxychloroquine (HCQ) tablets increased during the ongoing COVID-19 crisis. The supply of essentials and the manufacture of medical equipment is expected to drive the pharmaceutical and healthcare industries, and this is expected to further boost the demand for material handling. India is the world's largest producer of HCQ tablets. In this rare scenario, the production of HCQ tablets is boosting the healthcare industry, especially in India. Recently, the Indian government started exporting HCQ tablets to 55 countries. Initially, exports were banned but granted later in view of the humanitarian aspects of COVID-19. Approximately 13 countries have already received the drug which is being supplied through commercial channels and as grants-in-aid as well. Such increased demand from the pharmaceutical and warehouse & distribution industries during the COVID-19 crisis is expected to drive the demand for conveyor systems.

Daifuku Co., Ltd. (Japan), Continental AG (Germany), Siemens AG (Germany), and Fives Group (France) are some of the leading manufacturers of conveyor systems in the global market.

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Conveyor system market for retail & distribution to be dominated by North America

An increase in purchasing power, lifestyle changes, increasing working class, and relaxations in government regulations such as FDIs have fueled the growth of supermarket/hypermarket chains along with distribution centres. North America is projected to account for the largest market share in the pallet conveyor system market for the retail & distribution industry during the forecast period. Pallet conveyors are ideal in case of space constraints. Small or medium-sized distribution centres in North America use pallet conveyors to handle extremely heavy loads and are majorly utilized to handle inventories.

By component, aluminium profile is projected to be the largest market during the forecast period

The market for aluminium profile conveyor support is projected to grow during the forecast period. Fluctuations in the prices of aluminium are expected to directly impact the growth of the market. The profile works as firm support for the belt to ensure that it does not sag when the weight of an item is placed on the belt. Aluminium profile conveyor supports are crucial for the efficient operation of a conveyor system as these ensure proper loading and unloading of material. Europe is estimated to account for the largest share in the aluminium profile segment in 2020 as the region is home to some of the aluminium profile conveyor support manufacturers such as FlexLink (Sweden).

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Europe is projected to grow at the highest CAGR during the forecast period

Europe, being an early adopter, witnesses extensive applications of conveyor systems in several industries. Conveyor system manufacturers in the region have invested in research & development for innovating improved technologies to stay competitive in the market. Germany and the UK are at the forefront of industrial research and engineering. Extensive R&D infrastructure, a highly qualified workforce, and complete industry value chain integration create an environment that enables companies to develop cutting-edge technologies. Production levels in the food, retail & distribution, automotive, and aviation industries have witnessed significant growth in Europe and are projected to increase further in the future.

Conveyor System Market, By Type:

1. Belt
2. Roller
3. Pallet
4. Overhead
5. Tri planar
6. Bucket
7. Floor
8. Cable
9. Crescent
10. Others (combination of any of the aforementioned conveyor types or gravity, chain, and vertical conveyors)

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