Global Conveyor System Market was valued USD XX Bn in 2018 and is expected to reach US$ 10.35 Bn by 2026, at CAGR of XX% during forecast period of 2019 to 2026.
Global Conveyor System Market
Global Conveyor System Market Drivers and Restrains:
Growing industrialization and urbanization coupled with the need to reduce manufacturing expenses and material handling costs are expected to drive the conveyor system market during forecast period. Conveyor systems is commonly used mechanical handling equipment that helps in moving materials from one location to another. These systems features a swift, active, efficient transport solution with a high degree of reliability and safety, owing to the effectiveness of transportation, a significant amount of time is reduced during the production process. It also aids in minimizing the errors in handling materials manually.
The increasing growth of e-commerce is a major contribution for the conveyor modernization. The conveyor systems market is impelled by various factors, such as industrial growth, expansions, modernization of industries and product and process specific conditions. Conveyor systems help in simplifying the task of handling bulky materials. It plays an important role in operations by reducing and minimizing the production cycle time and errors respectively. Technological advancement in repair techniques and belt technology have reduced the occurrences of extensive downtime for belt replacement and increased the reliability.
Conveyor systems are expensive. The conveyor system installation is a critical task for manufacturers, installation cost is very high and it is almost impossible for small and medium scale industries it facilitate installing conveyor systems, which are restraining the market growth at global level.
Manufacturers in the conveyor system are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Global Conveyor System Market Segmentation Analysis:
Based on conveyor type, the belt conveyors segment is expected to grow at the largest CAGR of XX% during the forecast period. Belt conveyors are endless continuous belts that are being used to convey products or materials. Belt conveyors are made from various materials such as rubbers, plastics, fabric, metal & leather. These conveyors are used to convey different types of products via different belt types such as heavier loads require thicker & stronger belt.
Roller conveyors is expected to grow at the largest CAGR of XX% during the forecast period. Roller conveyor systems are of two type such as gravity controlled & powered roller conveyors. Gravity controlled rollers are used to move products manually when placed horizontally whereas powered roller conveyors help to move materials using belts or rollers. Both the types of conveyor systems are used to move the products in a straight or curved structure based on the application in the industry.
Global Conveyor System Market Regional Analysis:
Asia pacific region have been significant growth in conveyor system market, both in terms of value and volume. India and China are the major contributors to the market growth in the region owing to the adoption of automation in the manufacturing units along with increasing penetration of advanced technologies, such as IoT, RFID, and AI. Rising labor cost, along with infrastructure limitation, is anticipated to drive the conveyor systems market growth in the region. Furthermore, bulk material handling & storage systems are facilitating the management of large volumes of data, thereby reducing the unnecessary time consumption fueling the regional growth of the global market in the region.
A report covers the recent development in market for conveyor system market like in January 2019 - BEUMER Group signed an agreement with Aruba Airport Authority N.V. for the design and installation of high-speed baggage transportation and sortation system at Aruba’s Queen Beatrix International Airport. The installation, which also includes BEUMER’s residential program for on-site operation and maintenance, is part of the airport’s Gateway 2030 expansion and modernization program.
The objective of the report is to present comprehensive analysis of global conveyor system market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding global conveyor system market dynamics, structure by analyzing the market segments, and project the global conveyor system market size. Clear representation of competitive analysis of key players by conveyor type, price, financial position, product portfolio, growth strategies, and regional presence in the global conveyor system market make the report investor’s guide.
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Scope of the Global Conveyor System Market:
Global Conveyor System Market, by Conveyor Type:
Global Conveyor System Market, by Location:
Global Conveyor System Market, by End Users:
• Warehouse & Distribution
• Food & Beverage
Global Conveyor System Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Conveyor System Market, Major Players:
• Daifuku Co., Ltd.
• Dematic Group S.à r.l.
• Emerson Electric Co.
• Interroll Holding Ltd.
• Siemens AG
• Swisslog Holding AG
• SSI Schäfer AG
• Taikisha Ltd.
• Vanderlande Industries
• TGW Logistics Group Gmbh.
• Honeywell Intelligrated
• Somi Conveyor Beltings
• Phoenix Conveyor Belt Systems
• Khare Group
• Murata machinery Ltd
• BEUMER Group GmbH & Co.KG
• Caterpillar Inc.
• Dorner Mfg. Corp.
• Eisenmann Corporation
• Fives Group
• Mahindra Conveyor Systems
• Redler Limited, RUD
• Shuttleworth, LLC.
• Ammeraal Beltech Holding BV
• Chiorino S.p.A.
• Hytrol Conveyor Company,Inc.
• Intelligrated Inc.
• Kardex Group
• Egemin Group NV
• Dearborn Mid-West Company
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