Press release
Conveyor System Market Size Projected To Reach $13.19 Billion By 2034 With A Cagr Of 6.4%
Conveyor System
What Is the Projected Growth of the Conveyor System Market?
The market size for conveyor systems has seen significant expansion lately. An increase is predicted from $9.71 billion in 2024 to $10.28 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.9%. Factors that contributed to this growth during the historical period include the uptake of labor-saving devices, maintenance and after-sales services, improvements in supply chain efficiency, demand from emerging markets and strategies aimed at reducing costs.
The size of the conveyor system market is projected to experience robust expansion in the imminent years, with an estimations pointing to a worth of $13.19 billion by 2029. This signifies a compound annual growth rate (CAGR) of 6.4%. This anticipated surge over the forecast period can be credited to factors such as the embrace of automation and Industry 4.0, augmentation of the manufacturing sector, the improvement of warehouse strategies, innovative developments in the retail sector, and the emphasis on sustainability and green logistics. Key tendencies during the forecast period encompass the synthesis with robotics, the focus on maintenance and after-sales services, heightened demand in emerging economies, issues of labor costs and efficiency, as well as global trade and globalization.
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What Are the Different Conveyor System Market Segments?
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
Subsegments:
1) By Belt Conveyor: Flat Belt Conveyor, Modular Belt Conveyor, Wire Mesh Belt Conveyor, Cleated Belt Conveyor
2) By Roller Conveyor: Gravity Roller Conveyor, Powered Roller Conveyor, Accumulation Roller Conveyor
3) By Pallet Conveyor: Chain Driven Pallet Conveyor: Slat Pallet Conveyor, Roller Bed Pallet Conveyor
4) By Overhead Conveyor: Enclosed Track Overhead Conveyor, I-Beam Overhead Conveyor, Power And Free Overhead Conveyor
5) By Tri-Planar Conveyor: Horizontal Tri-Planar Conveyor, Inclined Tri-Planar Conveyor
6) By Crescent Conveyor: Modular Crescent Conveyor, Custom Crescent Conveyor Systems
7) By Skid Conveyor: Fixed Skid Conveyor, Portable Skid Conveyor
8) By Trailer Conveyor: Standard Trailer Conveyor, Custom Trailer Conveyor Systems
9) By Other Product Types: Screw Conveyor, Bucket Conveyor, Magnetic Conveyor, Chain Conveyor
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What Are the Primary Drivers Shaping the Conveyor System Market?
The expansion of the conveyor system market is predicted to be fueled by the accelerated growth in e-commerce. Primarily conducted over the internet, e-commerce refers to the electronic purchase or sale of products via an electronic network. Conveyor systems offer impressive benefits in this sector - they facilitate speedy and proficient delivery of an array of package sizes, exhibit swift delivery, and are perfect for customized capacities of products. For instance, data from Shopify Inc., a multinational e-commerce company based in Canada, revealed that the global e-commerce market achieved a staggering total of $5.55 trillion in 2022. Furthermore, e-commerce sales in Latin America amounted to $85 billion in 2021. Therefore, the upsurge in e-commerce is propelling the expansion of the conveyor system market.
Which Companies Are Leading in the Conveyor System Market?
Major companies operating in the conveyor system market 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., Interroll Holding AG, Beumer Group GmbH & Co. KG, Viastore Systems GmbH, SSI Schaefer AG, Knapp AG, Mecalux SA, Witron Logistik + Informatik GmbH, Kardex Group,Corporation, 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.
What Are the Major Trends Shaping the Conveyor System Market?
The emerging trend in the conveyor system market is driven by technological advancement. New technologies like Internet of Things (IoT), Radio-Frequency Identification (RFIDs), 2D radar technology, ultrasonic technology and artificial intelligence (AI) are being adopted by major market players to maintain their market significance. For example, in February 2022, Continental AG, a German manufacturer of conveyor systems, launched a new 2D radar-based conveyor monitoring system called Conti Load Sense. Noteworthy features of this system include 2D radar monitoring, which scans the material and conveyor belt from different perspectives to ascertain the load and belt position, and an application of ultrasonic technologies to precisely gauge the volume of products in transit.
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What Are the Top Revenue-Generating Geographies in the Conveyor System Market?
Asia-Pacific was the largest region in the conveyor system market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the conveyor system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Conveyor System Market?
2. What is the CAGR expected in the Conveyor System Market?
3. What Are the Key Innovations Transforming the Conveyor System Industry?
4. Which Region Is Leading the Conveyor System Market?
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