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The global conveyor system market size is projected to reach USD 10.6 billion by 2025, from an estimated value of USD 8.8 billion in 2020, at a CAGR of 3.9%. 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. The constant R&D efforts by conveyor system manufacturers to modernize the industry will offer favorable opportunities for manufacturers and propel the automated conveyor systems in the coming years.
“By industry, retail & distribution is expected to be the largest market owing to increase in e-commerce”
The retail warehouse & distribution industry is expected to offer the highest demand for conveyor systems during the forecast period. Market growth in this sector can be attributed to the increase in on-line shopping, lifestyle changes, increasing working class, and relaxation in government regulations such as Foreign Direct Investment (FDI), which have fueled the growth of supermarket/hypermarket chains along with distribution centers, thus, fueling the demand for new warehouses and distribution centers. The retail industry uses conveyors in various operations, from the billing counter to the distribution center. For instance, a distribution center which serves hundreds of stores in its vicinity requires error-free sorting. Here, conveyor systems help streamline the process and minimize errors. E-commerce and retail are expected to be the fastest-growing markets for material handling. To meet the rising demand for online shopping, Amazon.com, Inc. plans to develop approximately 1,000 small delivery & distribution hubs in the US. In terms of conveyor technology, the belt type is expected to lead the market during the forecast period, while the pallet type conveyor is projected to grow at the highest CAGR.
“By type, belt conveyor is projected to be the largest and one of the fastest growing markets during the forecast period”
Factors such as competition and globalization incentivize players to innovate on more light-duty and energy-efficient belt types. Rising process automation is reflected in the increased demand for light-duty belt designs. Medium-duty conveyors are witnessing rise in applications owing to a boost in the manufacturing sector. The belt conveyor is expected to dominate the market during the forecast period. Mining, construction, power, and manufacturing industries are the major users of heavy-duty conveyor belts. They handle higher capacity loads at a much lower cost and can cover longer distances.
“Europe is projected to be the largest and fastest growing market throughout 2025”
Europe is home to leading conveyor system manufacturers such as SSI Schaefer (Germany), Swisslog Holding AG (Switzerland), Fives Group (France), Vanderlande Industries (Netherlands), and Siemens AG (Germany). The end users of conveyors in Europe are Carrefour (France), Aldi (Germany), Edeka (Germany), Metro (Germany), Audi (Germany), Volkswagen (Germany), BMW (Germany), Nestle (Switzerland), and various other industrial players which include various airports across Europe. The usage of conveyors is a common practice in European countries. Hence, companies can gain traction in this region with the help of innovative technologies that offer additional benefits such as optimum efficiency and higher accuracy, among others.
In-depth interviews were conducted with marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
- By Company Type: Supply Side – 80%, Demand Side – 20%
- By Designation: C Level - 10%, D Level - 30%; and Others – 60%
- By Region: Asia Pacific (India) - 30%, Asia Pacific (excluding India) - 30%, North America – 20%, Europe - 10%, and RoW - 10%
Daifuku Co., Ltd. (Japan), Continental AG (Germany), Siemens AG (Germany), and Fives Group (France) are some of the leading manufacturers of conveyor system in the global market.
This study segments the conveyor system market and forecasts the market size based on type [belt, roller, pallet, overhead, tri planar, bucket, floor, cable, crescent, and others (gravity, chain, and vertical)]; operation (manual, automatic, and semi-automatic); component [aluminum profile (conveyor belt support), driving unit (motor bracket, counter-bearing, and electrical drive), and extremity unit (pulley and clamping strap)]; airport industry, by conveyor type (belt, tri planar, crescent, and others); automotive industry, by conveyor type (overhead, floor, roller, and others); retail & distribution industry, by conveyor type (belt, roller, pallet, and others); electronics industry, by conveyor type (belt, roller, and others); mining industry, by conveyor type (belt, cable, bucket, and others); food & beverage industry, by sub-industry (meat & poultry, dairy, and others); and region (North America, Asia Pacific, Europe, and Rest of the World).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
- The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall conveyor system market and the sub-segments.
- This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
- The report also helps stakeholders understand the market’s pulse and provides them information on key market drivers, restraints, challenges, and opportunities.