Global Conveyor System Market is forecasted to have significant growth by 2022, Key Players- Daifuku, Dematic Group, Emerson Electric, Siemens AG, Allied Conveyor Systems and Caterpillar
Conveyor System Market is highly application driven and such conveyor systems are gaining popularity across the industries such as automotive, retail, food & beverages, public infrastructure such as airport which is referred as one of the major driving factors for market. Furthermore, increasing FDI investments in automotive sector is also augmenting the growth of the market.
Huge investments in infrastructural projects in Asia Pacific countries countries have spurred the demand for conveyor system for commercial and residential purpose. The region has given a tough competition to well established European and U.S. markets when it comes to the manufacturing base and price points. There is seen changing dynamics in construction industry in the region such as interest by foreign investors and increase in FDI in construction in countries such as Indonesia and India. This augments the demand for such conveyor system in the region.
There is seen various government initiatives and programmes where the countries are constantly promoting and developing their construction sector. The emerging nations are particularly bringing various reform and regulations to boost their infrastructure growth and real-estate market. Such growth is expected to augment the market growth of conveyor system industry. For instance, the government of India announced several major policy initiatives such as the passage of the Real Estate (Regulation and Development) Act 2016, the amendment to the Benami Transactions Act, 100% deduction in profits for affordable housing construction, change in arbitration norms for construction companies, and many others to boost the construction industry in the country.
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Daifuku Co., Ltd., Dematic Group, Emerson Electric Co., Siemens AG, Allied Conveyor Systems, Inc., Caterpillar Inc., Dorner Mfg. Corp., Dynamic Conveyor Corporation, Fives Group, FMC technologies, Interroll AG and Intelligrated are some of the prominent players at the forefront of competition in the global conveyor system market and are profiled in MRFR Analysis.
Global Conveyor System Market - Competitive Analysis
The market for conveyor systems is characterized by the presence of several well-established brands along with medium and small players. The market appears to be highly competitive and fragmented. International players are seen increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, quality, and price point. The market is witnessing intensified competition which is expected to intensify further during the forecast period.
In June 2017, Dynamic Conveyor Corporation, manufacturer of patented easy-to-clean conveyor systems for the food industry, launched embedded diamond top belting on its DynaClean conveyor line. It reduces food product loss when conveying a sticky product by using ThermoDrive embedded diamond top belting on a DynaClean conveyor greatly.
In 2017, Thyssenkrupp announced that it is expected to deliver conveyor system for new underground copper mine in Mongolia. The systems would be reliable and cost-effective. The company, a leading providers of mining systems, the industrial solutions business area won a contract to supply a material handling system for the new Oyu Tolgoi underground mine in Mongolia. Thyssenkrupp is expected to supply a total of nine conveyors with a combined length of 9.5 km as well as seven transfer towers operating at a design tonnage of 7,100 tons per hour.
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