The global Conveyor System market gathered revenue around USD 9.1 Billion in 2020 and market is set to grow USD 11.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 4.2% during the prediction period 2021 to 2027. Higher adoption of automation processes in various end-use industries and rising demand for handling larger volumes of goods are the driving factors that are expected to boost the conveyor system market.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Conveyor System market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Conveyor System market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Various upcoming investments are expected in the mining industry in Latin American countries, particularly in Brazil and Chile. As mining requires handling larger volumes of goods, the conveyor system is the preferred as well as economical solution for long distances. The increasing purchasing power of consumers and economic growth in these regions are the key factors that have encouraged the growth of the manufacturing industry. Automation in manufacturing, baggage handling, food & beverage, mining, and various other industries has brought the industry closer to the zero-defect target.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Conveyor System market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Conveyor system market for retail & distribution to be dominated by North America
Increase in purchasing power, lifestyle changes, increasing working class, and relaxations in government regulations such as FDIs have fueled the growth of supermarket/hypermarket chains along with distribution centers. North America is projected to account for the largest market share in the pallet conveyor system market for the retail & distribution industry during the forecast period. Pallet conveyors are ideal in case of space constraints. Small or medium-sized distribution centers in North America use pallet conveyors to handle extremely heavy loads and are majorly utilized to handle inventories.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Conveyor System Market are:
Daifuku Co., Ltd.(Japan), Continental AG (Germany), Siemens AG (Germany), and Fives Group (France)
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Type
- Belt
- Roller
- Pallet
- Overhead
- Tri planar
- Bucket
- Floor
- Cable
- Crescent
- Others (combination of any of the aforementioned conveyor types or gravity, chain, and vertical conveyors)
By Operation
- Manual
- Automatic
- Semi-automatic
By Application
By Component
- Aluminum profile (conveyor belt support)
- Driving unit (motor bracket, counter-bearing, and electrical drive)
- Extremity unit (pulley and clamping strap)
Airport industry, by conveyor type
- Belt
- Tri planar
- Cresccent
- Others (gravity, chain, overhead, and vertical conveyors)
Automotive industry, by conveyor type
- Overhead
- Floor
- Roller
- Others (gravity, chain, overhead, and vertical conveyors)
Retail & distribution industry, by conveyor type
- Belt
- Roller
- Pallet
- Others (gravity, chain, overhead, and vertical conveyors)
Electronics industry, by conveyor type
- Belt
- Roller
- Others (gravity, chain, overhead, and vertical conveyors)
Mining industry, by conveyor type
- Belt
- Cable
- Bucket
- Others (gravity, chain, overhead, and vertical conveyors)
Food & beverage industry, by sub-industry
- Meat & poultry
- Dairy
- Others (baked goods, confectionery, seasonings, and sauces)
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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