Conveyor Systems Market is estimated to reach US$ 13 billion by 2028 -Daifuku Co., Ltd., Taikisha Ltd. and more

Conveyor Systems Market

The global Conveyor Systems market is expected to reach US$ 13 billion by 2028 at a compound annual growth rate (CAGR) of 8% during the forecast period (2022-2028). This rapid growth is mainly attributed to increasing investments in automation solutions across various sectors in developed countries as well as developing economies. Additionally, demand for Conveyor Systems is being driven by the development of smart factories which require high levels of efficiency and accuracy in production processes as well as new technologies such as artificial intelligence (AI) which can automate complex tasks related to conveying goods or materials within a factory.

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The global conveyor systems market is anticipated to witness a significant growth over the forecast period. The rising demand for material handling automation in various industries such as food & beverage, automotive, retail, and pharmaceutical is driving the growth of the conveyor systems market. Additionally, the increasing need for efficient, safe, and cost-effective transportation of goods is further fueling the market growth. The advent of Industry 4.0 and the integration of IoT technology in conveyor systems have opened up new growth opportunities in the market. However, the high initial investment and maintenance costs may hinder the growth of the conveyor systems market.

The report provides a comprehensive analysis of the conveyor systems market, covering key market trends, growth drivers, challenges, and opportunities. The report also includes an in-depth analysis of the competitive landscape, market segmentation, and regional analysis. The market size and revenue forecasts for the period 2021-2028 are also provided in the report.

Key Players- 

• Daifuku Co., Ltd.
• Taikisha Ltd.
• Emerson Electric Co.
• Dematic Group
• Fives Group
• Interroll Holding AG
• Intelligrated, Inc.
• SSI Schaefer
• Swisslog AG
• Siemens AG
• TGW Logistics Group Gmbh
• Vanderlande Industries

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Key findings:

• The global conveyor systems market is anticipated to grow at a CAGR of 3.9% from 2021 to 2028.
• The roller conveyor segment is expected to dominate the market owing to its versatility and cost-effectiveness.
• The Asia Pacific region is anticipated to dominate the market owing to the growing demand for conveyor systems in various industries and the presence of major manufacturers in the region.
• The automotive industry is anticipated to be the largest end-user of conveyor systems owing to the increasing demand for automation in the industry.

Market Segmentation:

The global conveyor systems market is segmented on the basis of conveyor type, belt type, end-use industry, and region. The detailed segmentation is as follows:

By Conveyor Type
• Roller Conveyor
• Belt Conveyor
• Overhead Conveyor
• Pallet Conveyor
• Others

By Belt Type
• Heavyweight Conveyor Belt
• Medium Weight Conveyor Belt
• Lightweight Conveyor Belt

By End-Use Industry
• Automotive
• Food & Beverage
• Retail
• Airport
• Pharmaceutical
• Others

By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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The global conveyor systems market is anticipated to witness significant growth over the forecast period owing to the increasing demand for material handling automation in various industries. The roller conveyor segment is expected to dominate the market owing to its versatility and cost-effectiveness. The Asia Pacific region is anticipated to dominate the market owing to the growing demand for conveyor systems in various industries and the presence of major manufacturers in the region. However, the high initial investment and maintenance costs may hinder the growth of the conveyor systems market. The major players operating in the market are focusing on strategic collaborations, mergers & acquisitions, and product launches to expand their market presence and enhance their product portfolio.

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