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North America Conveyor System Market Trends, Size, Segment and Growth by Forecast to 2030
North America Conveyor System Market
Full Report Link - https://www.businessmarketinsights.com/reports/north-america-conveyor-system-market
Key Market Drivers and Restraints:
• Growth in E-commerce Industry: Increasing online retail operations are fueling the demand for conveyor systems.
• Environmental Concerns: The environmental impact of mining activities is a major challenge restricting market growth.
Market Segmentation
The North America conveyor system market is segmented by system type, belt type, industry, and country.
By System Type:
• Overhead
• Floor
• Roller
• Belt (Largest market share in 2019)
• Others
By Belt Type:
• Light
• Medium (Led the market in 2019)
• Heavy
By Industry:
• Food & Beverage
• Automotive
• Airports
• Logistics
• Metals & Mining
• Others (Held a significant share during the forecast period)
By Country:
• United States
• Canada
• Mexico
North America Conveyor System Strategic Insights
Strategic insights for the North America Conveyor System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Impact of COVID-19 on the Market
The COVID-19 pandemic significantly impacted North America, affecting the adoption and expansion of conveyor systems due to:
• Factory and business shutdowns across the US, Canada, and Mexico.
• Disruptions in logistics, transportation, and trade.
• Supply chain challenges leading to scaled-down production.
• Positive impact on online retail and food industries, which saw an increase in demand.
While the impact was severe in 2020 and 2021, the market is expected to recover in the coming years as industrial operations resume.
Key Market Players
Leading companies in the North America conveyor system market include:
• Daifuku Co., Ltd.
• DEMATIC
• Emerson Electric Co.
• Honeywell Intelligrated
• Interroll Holding GmbH
• Siemens AG
• SSI Schäfer
• Swisslog
• TGW Logistics Group
• Vanderlande Industries B.V.
These companies are implementing organic growth strategies, such as product innovations and expansions, to maintain their market position. For example, in 2020, Siemens launched a new compact and powerful drive system for horizontal conveyor applications, integrating a motor, frequency converter, and gearbox.
Market Outlook
With increasing automation, technological advancements, and rising demand from industries like logistics and e-commerce, the North America conveyor system market is poised for steady growth through 2027.
Market Overview and Dynamics
The conveyor system market in North America is expected to grow from US$ 1963.15 million in 2019 to US$ 2,747.41 million by 2027; it is estimated to grow at a CAGR of 4.5% from 2020 to 2027. Various manufacturing industries are heavily investing on the adoption of automated solutions. Additionally, the adoption of data-driven solutions has gained significant popularity among various leading manufacturers and business owners to mitigate unforeseen errors, faults, and damages. Increasing demand for conveyor systems with integrated technologies across various industrial applications is expected to propel the market growth in the coming years. The mounting implementation of Industry 4.0 has led to an extensive digital overhaul across the manufacturing industry. Digital technologies such as artificial intelligence (AI) and predictive maintenance are used by the conveyor system providers for maintaining visibility across the supply chain with improved operations, transparency, and productivity. Additionally, technologies such as automation, the Internet of Things (IoT), and robotics are also gaining more prominence. Industry 4.0 based applications make it less challenging to coordinate operations across multiple industries than ever.
Key Market Segments
In terms of system type, the belt segment accounted for the largest share of the North America conveyor system market in 2019. In terms of belt type, the medium segment held a larger market share of the North America conveyor system market in 2019. Further, the Others segment held a substantial share of the North America conveyor system market based on end user industry in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the conveyor system market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Daifuku Co., Ltd., DEMATIC, Emerson Electric Co., Honeywell Intelligrated, Interroll Holding, GmbH, Siemens AG, SSI Schäfer, Swisslog, TGW Logistics Group, Vanderlande Industries B.V.
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Phone : +1-646-491-9876
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
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