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Conveyor System Market Report: By Type, Drivers, Industry Analysis, Segments, Top Companies And Forecast To 2033
Conveyor System Market Report
The Business Research Company presents an extensive market research report on the Conveyor System Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The conveyor system market size has grown strongly in recent years. It will grow from $9.21 billion in 2023 to $9.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to labor-saving devices adoption, maintenance and after-sales services, supply chain efficiency, emerging markets demand, cost reduction strategies..
The conveyor system market size is expected to see strong growth in the next few years. It will grow to $12.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to automation and industry 4.0 adoption, manufacturing sector growth, warehouse optimization, retail sector innovations, sustainability and green logistics.. Major trends in the forecast period include integration with robotics, maintenance and after-sales services, demand in developing economies, labor costs and efficiency,globalization and trade..
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Key Market Players:
Major companies operating in the conveyor system market report are Daifuku Co. Ltd., Continental AG, Siemens AG, Taikisha Ltd., Fives Group, Kion Group AG, Toyota Industries Corporation, KUKA AG, Honeywell International Inc., Murata Machinery Ltd., TGW Logistics Group GmbH, Interroll Holding AG, Beumer Group GmbH & Co. KG, Viastore Systems GmbH, SSI Schaefer AG, Knapp AG, Mecalux SA, Witron Logistik + Informatik GmbH, Kardex Group, FlexLink AB, Dorner Mfg Corp., Hytrol Conveyor Co. Inc., mk Technology Group Inc., TGW Logistics Group, Conveyor Systems Ltd., Conveyor Units Ltd., ConveyorTek Ltd., LAC Conveyors & Automation Ltd., Advance Automated Systems Ltd.
Market Drivers:
Rapid growth in e-commerce is expected to propel the growth of the conveyor system market going forward. E-commerce is the activity of electronically buying or selling products over an electronic network, primarily the internet. Conveyor systems are beneficial in the e-commercial sector as they provide quick and efficient delivery of packages and parcels of a variety of sizes, are fast in delivery, and are ideal for the specialized capacity of products. For instance, in February 2022, according to Shopify Inc., a Canada-based multinational e-commerce company, the global e-commerce market reached a total of $5.55 trillion in 2022. Moreover, Latin America saw $85 billion in e-commerce sales in 2021. Therefore, the growth in e-commerce is driving the growth of the conveyor system market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/conveyor-system-global-market-report
The conveyor system market covered in this report is segmented -
1) By Product Type: Belt Conveyor, Roller Conveyor, Pallet Conveyor, Overhead Conveyor, Tri-Planar Conveyor, Crescent Conveyor, Skid Conveyor, Trailer Conveyor, Other Product Types
2) By Component: Aluminum Profile, Driving Unit, Extremity Unit
3) By Operation: Manual, Semi-Automatic, Automatic
4) By End-User Industry: Retail, Food And Beverages, Poultry And Dairy, Automotive, Airport, Other End User Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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