Press release
Global Conveyor System Market Key Manufacturers are Daifuku Co., Ltd., Continental AG, Siemens AG, Fives Group and Metso Outotec
Higher Adoption of personalized-automated material handling solutions depending on niche specifications in various end-use industries and rising demand for handling larger volumes of goods are the factor boosting the conveyor system market. Therefore, the global conveyor system market is expected to reach $12.7 billion by 2027, from an estimated value of $9.4 billion in 2022 at a CAGR of 6%. The constant investments in R&D by conveyor system manufacturers accompanied by a rising supply chain network is to fuel the demand for conveyor solutions in the forecast period.Get a Free Sample Copy of the Global Conveyor System Market Research Report at https://www.businessworldeco.com/request-sample/113/
According to the United Nations Industrial Development Organization, consumption of goods in developed countries is expected to rise to approximately $30.0 trillion by 2025. This is expected to increase the penetration of industrial automation and the requirement for efficient material handling systems. These factors have fuelled the growth of supermarket/hypermarket chains and distribution centres. Similar trends are being observed in emerging countries where the retail industry is growing and creating new avenues for supermarket/hypermarket giants, majorly due to the rise in the adoption of e-commerce platforms. Moreover, The retail & distribution industry has expanded in recent years owing to various reasons, such as the increase in online shopping, changing lifestyles, rising working-class population, and relaxations in government regulations, such as FDIs.
By region, Asia Pacific is expected to be the rising demand for conveyors in industries like automotive, manufacturing and eCommerce, Low-cost manufacturing enterprises such as electronics manufacturers and automotive are reportedly shifting to Southeast Asia to reduce cost, which is predicted to enhance conveyor use. Natural resources and their acquisition provide major market prospects for conveyors in the region which automate process flow. Furthermore, the manufacturing industry has seen an increase in demand for an automatic sortation system integrated across the conveyor belt, which lowers the error rate and so improves the overall efficiency of the general warehouse logistic module, removing any associated supervision and loss.
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Depending on the type, Belt conveyors can handle higher capacities at a significantly lower cost per ton kilometre and cover longer distances easily and economically than other conveyors. The belt conveyor can be used for special purposes such as fire resistance, wear resistance, corrosion resistance, and high angle negotiation and integrated with other equipment. It can be used in combination with other conveyors in various industries, such as retail, food & beverage, and airport. Due to its flexibility and use in various industries, the demand for belt conveyors is estimated to be the highest during the forecast period.
Primary Breakdown:
In-depth interviews were conducted with CXOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.
By Stakeholder: Demand-side- 30%, and Others 70%
By Designation: C Level 20%, D Level -20%, and Others -60%
By Region: North America - 20%, Europe - 20%, and Asia Pacific - 60%
Daifuku Co., Ltd. (Japan), Continental AG (Germany), Siemens AG (Germany), Fives Group (France) and Metso Outotec (Finland) are some of the leading manufacturers of conveyor systems in the global market.
Research Coverage:
The conveyor system market report provides comprehensive information on the market offered by the key players. It also provides information on market developments by incorporating top-notch information about lucrative emerging markets and analyzing penetration across mature segments of the market. Also, the report provides market diversification by offering detailed information about untapped geographies, new product launches, investments and recent developments.
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The conveyor system market provides an exhaustive assessment of market strategies, market share, products, regulatory approvals, patent landscape and manufacturing capabilities of the leading players. Moreover, This study segments the conveyor system market and forecasts the market size based on the type [belt, roller, pallet, overhead, tri planar, bucket, floor, cable, crescent, and others (gravity, chain, and vertical)]; operation (manual, automatic, and semi-automatic); component [aluminium profile (conveyor belt support), driving unit (motor bracket, counter-bearing, and electrical drive), and extremity unit (pulley and clamping strap)]; airport industry, by conveyor type (belt, tri-planar, crescent, and others); automotive industry, by conveyor type (overhead, floor, roller, and others); retail & distribution industry, by conveyor type (belt, roller, pallet, and others); electronics industry, by conveyor type (belt, roller, and others); mining industry, by conveyor type (belt, cable, bucket, and others); food & beverage industry, by sub-industry (meat & poultry, dairy, and others); and region (North America, Asia Pacific, Europe, and Rest of the World).
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