Conveyor Systems Market : Recent Industry Developments and Growth Strategies Adopted by Players

Conveyor system is an important part of the overall material handling system that is required in every industrial processes for various applications. Rapid industrialization coupled with rising demand for technology across various industry in order to automate the entire process is the most important factor predicted to accelerate the demand for conveyor system in the coming years.

According to the research report, the global conveyor system market was worth US$4697.1 mn in 2016 and is expected to reach US$6312.5 mn by 2025, surging at a CAGR of 3.5% between the forecast period of 2017 and 2025.

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Utilization of advanced technique of production and automated equipment has become the primary need of various end user segment for enhancing the quality of goods and to facilitate timely production. This in turn is anticipated to promote the demand for conveying system that are majorly utilized for shipment, transportation, packaging and other manufacturing related activities.

Different types of conveyor system that are majorly used across various industrial sectors includes roller conveyor, belt conveyor, pallet conveyor, over-head conveyor and others.

In terms of revenue, among the different types of conveyor system available in the market, belt conveyor system held the largest market share in 2016 and is anticipated to maintain its dominance throughout the forecast period from 2017 to 2025.

Conveyor system also finds its applications across various end user segments including food processing, automotive, retail sector, airport and healthcare among others.

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On the basis of geography, the global conveyor systems market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. In 2016, Europe held the dominating market share of the conveyor system market in terms of revenue. This regional market is projected to rise at a CAGR of 2.7% over the forecast period. On the flip side, Asia Pacific region is expected to experience the most promising growth in the coming years.

The global conveyor system market is highly competitive in nature with the presence of large number of conveyor system manufacturers. Some of the major players operating in the conveyor system market includes Daifuku Co. Ltd. (Japan), Schaefer Systems International Inc., Dematic Group and Murata Machinery Ltd. among others.

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