“Rising demand for handling larger volumes and efficient operation in industries is expected to fuel the demand for conveyor system”
The conveyor system market is projected to grow at a CAGR of 4.33% during the forecast period, to reach a market size of USD 9.9 billion by 2025 from an estimated USD 7.4 billion in 2018. The market is driven by factors such as increased demand for automation, demand for cost-efficient material handling systems, need to handle larger volumes in several industries, increasing FDI investments in developing countries, and other factors. The key factor that restrains the market is high initial investment, which may not be feasible for various small and medium scale enterprises.
“Automotive: Asia Pacific constitutes the largest conveyor system market”
The growing vehicle production in the automotive industry has resulted in increased demand for conveyor systems. Conveyor systems help automotive plants work at a higher efficiency to meet the desired production levels. Asia Pacific is estimated to be the largest market for conveyor systems, backed by the growth of the automotive industry in China and India. China is the largest vehicle-producing country in the region and is also the strongest economy. It is home to many global as well as regional automotive manufacturers such as BYD Automotive, Geely, Dongfeng, Volkswagen, Ford Motor Co., and others. Other than OEMs, there are many Tier 1 players such as Mitsubishi Electric, Denso, and foreign players such as BorgWarner, Bosch, and Continental. The presence of big players drives the growth of the conveyor system market in the region. In terms of conveyor technology, overhead conveyors, which are used in painting applications, are expected to hold the largest market share during the forecast period.
“Mining: Asia Pacific is estimated to be the largest market for conveyor system market followed by ROW”
Today, the mining industry has made noteworthy advancements in productivity, technology adoption, environmental standards, process automation, and health and safety of mine workers. As conveyors help in achieving these advantages, several mining companies have invested heavily in conveyor systems. With increasing investments in mining activities, Latin American, African, and Asian countries are the most promising markets for the mining conveyor system. For example, Tembo Capital (UK) plans to invest USD 400 million in African and other emerging markets.
“Asia Pacific: Largest market for conveyor system”
The Asia Pacific leads the conveyor system market. The end-user industries for conveyors including automotive, airport, and food & beverage have witnessed the rapid growth of infrastructure and technological advancements. This growth has enhanced the market for conveyors in the Asia Pacific region. RoW is expected to be the fastest growing market for conveyor system due to ongoing as well as upcoming projects and increasing investments in mining and automotive industry.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from conveyor system suppliers to retail, food & beverage, airport, and automotive industries.
The break-up of the primaries is as follows:
- By Company Type – Tier-1 - 45 %, Tier-2 - 35%, and Others - 20%
- By Designation - C level - 45%, D level – 34%, others – 21%
- By Region - North America - 30%, Europe - 25%, Asia Pacific - 25%, RoW – 20%
The report provides detailed profiles of the following companies:
- Emerson (US)
- Siemens (Germany)
- Daifuku (Japan)
- Fives (France)
- Taikisha (Japan)
- Honeywell Intelligrated (US)
- Dematic (US)
- SSI Schaefer (Germany)
- Invata (US)
- Bastian (US)
- The report provides a picture of conveyor system market across different verticals and regions. It aims at estimating the market size and future growth potential of conveyor systems across different industries, conveyor types, and regions.
- The report provides country-wise industry level market for the conveyor system. Countries considered are Asia Pacific (China, India, Japan, & Rest of Asia Pacific), Europe (France, Germany, UK, & Rest of Europe), North America (US, Canada, and Mexico), and the Rest of the World (Brazil, South Africa, & RoW others).
The report provides insights with reference to the following points:
- Market Development: The report provides comprehensive information about lucrative emerging markets. The report analyzes the market for the conveyor system across regions.
- Product Development/Innovation: The report offers detailed insights into R&D activities, upcoming technologies, and new product launches in the conveyor system market.
- Market Diversification: The report provides detailed information about untapped markets, investments, new products, and recent developments in the conveyor system market.
- Competitive Assessment: The report provides an in-depth assessment of strategies, products, and manufacturing capabilities of leading players in the conveyor system market.
- Market coverage: The report provides market details for 11 countries by industry as well as market for different conveyor type at regional level.