Dublin, Feb. 04, 2022 (GLOBE NEWSWIRE) -- The "Conveyor Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Conveyor Systems Market to Reach US$65.1 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Conveyor Systems estimated at US$50.6 Billion in the year 2020, is projected to reach a revised size of US$65.1 Billion by 2027, growing at a CAGR of 4.3% over the analysis period.
Conveyor systems are widely used in manufacturing and distribution facilities for the movement of products ranging from bolts to pallets. The pace of industrialization and the growing need to automate processes in various industries continue to drive growth in the conveyor systems market. The growing move towards assembly line process in various industry verticals for mass production purposes favors market growth.
Growth in the market is also supported by the rising need to modernize older conveyor systems-related infrastructure. There is especially an increase in adoption of gearless and energy efficient conveyor system designs, on account of the growing regulatory pressures facing end-use customers to improve energy efficiency of conveyor systems. Demand is also rising for smart conveyor systems such as those capable of offering product traceability features. Long-term growth potential also exists in conveyor systems providing integrated machine vision features.
Belt, one of the segments analyzed in the report, is projected to grow at a 4.3% CAGR to reach US$17.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Roller segment is readjusted to a revised 5.4% CAGR for the next 7-year period.
This segment currently accounts for a 19.7% share of the global Conveyor Systems market. Extensive use of belt conveyor systems in various end-use sectors contributes to the segment's large share. Demand for the systems continues to grow from diverse industry verticals due to their advantage in conveying a wide variety of goods regardless of shape, size and weight. The Roller segment growth will be fueled by the rapid growth of e-commerce industry, which will increase need for warehouses and thus drive demand for roller conveyor systems.
Pallet Segment to Reach $10.3 Billion by 2026
Pallet conveyors, also known as unit load conveyor or pallet handling conveyor, are commonly used for transporting, accumulating, and sorting large unit loads and discrete products. Pallet-based conveyors can be configured to meet an array of environmental requirements including ESD-compatible, dry room, cleanroom, and washdown applications. In the global Pallet segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$6.2 Billion in the year 2020 will reach a projected size of US$7.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2026, while Latin America will expand at a 4.5% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Adversely Impacts Conveyor Systems Market
- Demand for Conveyor Systems Increases Post the Pandemic Lull
- Material Handling Equipment: An Introduction
- Conveyor Systems: A Prelude
- Types of Conveyors
- Belt Conveyor
- Roller Conveyor
- Pallet Conveyor
- Overhead Conveyor
- Other Types of Conveyor System
- Major Uses and Applications
- Energy Cost: Critical Component of a Conveyor Equipment
- End-Use Industry Overview
- Conveyor System: Market Overview
- Trends Expected to Shape Conveyor Systems Design
- Belt Conveyors: The Most Dominant Segment Type
- Warehouse & Distribution and Food & Beverage: Leading End Markets
- North America: The Largest Geographic Region
- Asian Economies Led by China to Spearhead Future Growth
- Competition
- The Pandemic Forces Companies to Realize the Importance and Necessity to Change
- Recent Market Activity
- Global Competitor Market Shares
2. FOCUS ON SELECT PLAYERS (Total 143 Featured)
- Allied Conveyor Systems, Inc.
- BEUMER Group GmbH & Co. KG
- Caterpillar, Inc.
- Daifuku Co., Ltd.
- Dematic Group
- Dorner Mfg. Corp.
- Durr AG
- Dynamic Conveyor Corporation
- Fives Group
- Flexlink AB
- Honeywell Safety and Productivity Solutions (SPS)
- Hytrol Conveyor Co., Inc.
- Interroll Group
- Kardex Group
- Mahindra Tsubaki Conveyor Systems (MTC) Pvt. Ltd.
- Murata Machinery, Ltd.
- SSI Schaefer - Fritz Schaefer GmbH
- Swisslog Holding AG
- Vanderlande Industries B.V.
3. MARKET TRENDS & DRIVERS
- Conveyor Systems Market to Grow with Demand Emanating from Conventional and Niche Application Markets
- Manufacturing and Packaging
- Transportation and Logistics
- Merchandising
- Factors Influencing Demand for Conveyors
- Need for Secure Environment in Industries Drive Large Scale Installation of Conveyor Systems
- Customized Solutions with Integrated Technologies to Drive Automation Projects
- Integration of Warehouse Management Technologies with Material Handling Equipment Need of the Hour
- Role of Conveyor Systems in E-commerce Industry
- Distribution Logistics Simplify Outbound Movement of Products
- Omnichannel Commerce Creates a Paradigm Shift
- Motorized Roller Conveyor Technology Improves Supply Chain Excellence
- Demand for Automated MHE with Conveyor Systems on the Rise
- Growing Importance of Automation & Technology Drive Conveyor System Usage in Food & Beverage Industry
- Benefits of Using Belt Conveyors in Food Industry
- Maintaining Social Distancing during Pandemic with Conveyor Systems Help
- Rising Demand for Processed Meat: Major Growth Driver for Conveyor System
- Dairy Products: Churning Out New Opportunities for Conveyor System
- Strong Demand for Beverages Spurs Growth
- Ensuring Sanitation of Belt Conveyors Key to Long Term Reliability
- Automotive Industry: Shifting Gears to Automated Systems
- Growth in Automobile Production to Fuel Demand for Conveyor Systems
- Production of Consumer Electronics to Drive Demand for Automated Conveyors
- Growth in Conveyor Belt Market Driven by Metallurgy and Mining Industry
- Belt Conveyors Score over Trucking in Long Distance Scenarios
- Demand for Air Travel Post COVID-19 Pandemic World to Drive Need for New Airports and Infrastructure Modernization
- Baggage Conveyor Systems Critical for Operational Efficiencies at Airports
- Smart Airports: Opportunity for Growth
- Industrial Equipment/Machinery Manufacturing Industry Promises Bright Prospects
- Conveyor Belts and Industrial IoT Applications
- Industry 4.0 and Conveyor Industry in the Post-Pandemic World
- Smart Monitoring through Intelligent Conveyor Systems
- Demand Goes Strong for Smart Conveyor Equipment
- Modular Designed Conveyor Systems Add Versatility
- Pallet Conveyors Efficiently Transport Discreet Products
- Shortcomings in Design of Pallet Conveyor Systems
- Automated Conveyor Systems: Indispensable for Quality Services
- Growing e-Commerce Impacts Automated Conveyor Systems
- Pallet Conveyors Find Suitability in Automated Applications
- Design Trends in Conveyor Systems
- Select Conveyor Technologies: Delivering Improved Performance in Industrial Settings
- Direct Drive
- Smart Conveyor
- Active Conveyor Belt Technology
- Flexible Purpose Conveyors
- Compact Design Conveyors
- Upgrading Gravity Roller Conveyor to Motorized Roller Conveyor
- Automated Conveyors Preferred Over Chain Conveyors for Smooth and Quiet Operation
- Challenges in Maintenance of Conveyor Belts
- Material Handling Industry: Common Conveyor Belt Problems and Solutions
- Manual and Conventional Inspection Methods vs. Sensor-based Inspection Methods
- Drones and Sensor Technology to Identify Potential Problems in Conveyors
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/itmk88
