Selbyville, Delaware,, March 06, 2024 (GLOBE NEWSWIRE) -- The conveyor system market valuation is projected to surpass USD 19 billion by 2032, as reported in a research study by Global Market Insights Inc.
Rising technological developments in smart conveyor systems will accelerate the market growth from 2024 to 2032. Smart conveyor systems, equipped with IoT sensors and automation capabilities, offer enhanced efficiency, real-time monitoring, and predictive maintenance for improved productivity as well as reduced downtime and operational costs for industries. With companies seeking to optimize their operations, the demand for advanced conveyor solutions will increase. Growing innovations, such as robotics integration and AI-driven systems to enhance the capabilities of conveyor systems will also drive the market growth.
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Bucket conveyor system market will accumulate substantial gains by 2032, propelled by their versatility and efficiency in handling bulk materials such as grains, minerals, and powders. Industries, such as agriculture, mining, and food processing heavily rely on bucket conveyors for their robust design and ability to transport materials vertically and horizontally. The growing demand for high-capacity material handling solutions will further accelerate the product uptake.
The airport end-use segment in the conveyor system market will witness a considerable upsurge by 2032 due to the critical role in baggage handling for ensuring efficient and timely movement of luggage from check-in to departure gates. With increasing air travel demand globally, airports are investing in advanced conveyor technologies for seamless operations as they aid in security screening processes. The growing efforts placed by airports to modernize and expand will further drive the demand for conveyor systems.
Asia Pacific conveyor system market will capture a noteworthy CAGR between 2024 and 2032, attributed to rapid industrialization, particularly in the manufacturing and logistics sectors. The booming e-commerce industry is driving the demand for efficient material handling solutions. There has been a significant rise in government initiatives for supporting the infrastructure development. The rising efforts by key players on expanding their operations and the growing emphasis on automation will also add to the regional product adoption.
Some of the major conveyor system market players are BEUMER Group, Dematic, Daifuku Co., Ltd., Siemens AG, Fives Group, Interroll Holding AG, FlexLink AB, Honeywell Intelligrated, Intralox LLC, Shuttleworth LLC, Swisslog Holding AG, Viastore Systems GmBH, WAMGROUP S.p.A., Hytrol Conveyor Company, Inc., and Rexnord Corporation. These firms are expanding their global presence by investing in R&D activities to introduce innovative conveyor technologies for catering to diverse industry needs. They are also focusing on partnerships with manufacturers and distributors for enhancing their market reach.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Conveyor System Market Insights
3.1 Industry ecosystem analysis
3.2 Technological overview
3.3 Regulatory landscape
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.2 Industry pitfalls & challenges
3.5 Growth potential analysis
3.6 Porter’s analysis
3.6.1 Supplier power
3.6.2 Buyer power
3.6.3 Threat of new entrants
3.6.4 Threat of substitutes
3.6.5 Industry rivalry
3.7 PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
