Dublin, June 26, 2023 (GLOBE NEWSWIRE) -- The "Conveyor Systems: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Conveyor Systems Market to Reach $79.6 Billion by 2030
The global market for Conveyor Systems estimated at US$54.2 Billion in the year 2022, is projected to reach a revised size of US$79.6 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.
Belt, one of the segments analyzed in the report, is projected to record a 5% CAGR and reach US$20.3 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Roller segment is readjusted to a revised 6.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $14 Billion, While China is Forecast to Grow at 6.8% CAGR
The Conveyor Systems market in the U.S. is estimated at US$14 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$14.5 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9.7 Billion by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 670 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $54.2 Billion |
| Forecasted Market Value (USD) by 2030 | $79.6 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
MARKET OVERVIEW
- COVID-19 Adversely Impacts Conveyor Systems Market
- Demand for Conveyor Systems Increases Post the Pandemic Lull
- Material Handling Equipment: An Introduction
- Percentage Breakdown of Global Material Handling Equipment Market by Segment (2021E and 2027F)
- Percentage Breakdown of Global Material Handling Equipment Market by Region (2021E and 2027F)
- 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
- Conveyor Systems - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
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
- Global Sales of Processed Foods in US$ Billion for Years 2014, 2016, 2018, 2020 and 2022F
- 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
- Global Production of Butter, Cheese, Skim Milk Powder, and Whole Milk Powder (in Kilo Tons) by Developed and Developing Countries for 2017 and 2026
- 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
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.
For more information about this report visit https://www.researchandmarkets.com/r/f5xdi3
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