Press release
ASEAN Conveyor System Market Projected to Reach USD 4,202.4 million by 2034, Expanding at a CAGR of 7.1%
ASEAN Conveyor System Market
The burgeoning demand for warehousing facilities is expected to be a key driver propelling the growth of the conveyor system market in the ASEAN region. With the rapid development of various industries, there is a growing need for extensive warehousing services to accommodate goods and products. This surge in warehousing demand, coupled with the expansion of the e-commerce sector across ASEAN countries, is driving growth in the conveyor system market.
Indonesia is forecasted to emerge as a dominant force in the ASEAN conveyor system market, particularly in terms of revenue generation in 2022. The Indonesian market is poised for continuous growth throughout the forecast period, with projections indicating that it will capture nearly 30% of the ASEAN market share.
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Growth Factors
The Indonesian intralogistics landscape is experiencing a significant shift driven by various factors. With the international trade of goods witnessing a surge propelled by shorter product lifecycles and advancements in multiple end-use industries, there has been a notable expansion of warehouses and logistics facilities. Countries like Malaysia, Thailand, and particularly Indonesia are bolstering their bulk handling ports and recycling operations to meet the escalating consumer demand.
In the realm of e-commerce, conveyor systems play a pivotal role in optimizing process flow and enhancing productivity at crucial junctures. The heightened demand for warehousing and logistics services in the ASEAN region is poised to fuel the conveyor systems market, particularly in the context of warehousing and logistics operations, driving growth across the ASEAN landscape.
Various factors are expected to exert influence on each segment of the ASEAN conveyor system market. For instance, Indonesia is anticipated to gain a notable increase in market share by 200 to 250 basis points, whereas the logistics and warehousing sectors in Indonesia are forecasted to experience a moderate decline of 10 to 50 basis points over the next decade.
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Key Companies
• TUKU Singapore Pte Ltd
• MIS Belt Centre Pte Ltd
• Kaiye Industries (M) Sdn Bhd
• DNC AUTOMATION (M) SDN BHD
• PRIMECH
• CBR CONVEYOR SYSTEMS SDN BHD
• PT. Rollent Indonesia
• PT. Suprabakti Mandiri
• PT. Almec Indonesia
• RexLine Engineering Indonesia
• MAE SYSTEMS ENGINEERING (THAI) CO., LTD
• Nagasaki KIKI (Thailand)
• NKC THAI NAKANISHI
• PLIC Corp., Ltd.
Latest Material Handling Equipment Reports: https://www.futuremarketinsights.com/industry-analysis/material-handling-equipment
Market Key Segments
By Product Type:
• Belt Conveyor
• Roller Conveyor
• Pallet Conveyor
• Overhead Conveyor
• Tri-Planar Conveyor
• Crescent Conveyor
• Skid Conveyor
• Trailer Conveyor
• Others
By Operation Type:
• Manual
• Semi-Automatic
• Automatic
By Capacity Type:
• Unit Handling
• Bulk Handling
By Application Type:
• Packaging & Warehouse Distribution
• Textile & Paper
• Construction & Mining
• Automotive & Transportation
• Consumer Electronics
• Food & Beverage
• Chemical & Pharmaceutical
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Distribution Components Market- https://www.futuremarketinsights.com/reports/distribution-components-market
Latin America Hydraulic Filtration Market- https://www.futuremarketinsights.com/reports/latin-america-hydraulic-filtration-market
Refrigeration Compressor Market- https://www.futuremarketinsights.com/reports/refrigeration-compressor-market
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