Global Conveying equipment Market is valued approximately at USD 62.67 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 2.9% over the forecast period 2021-2027. Conveying equipment is used to transport material from one place to another over a stationary structure which carries materials in continuous stream with its endless chain or belt in a horizontal, vertical or inclined path. Conveying equipment is used as a goods carrier in numerous industries such as coal and mining, food & beverages, airports, automotive and ports which is a major factor in driving the growth of the market. Also, growing expansion by retail players is driving the conveying equipment market growth. Growing adoption of online shopping is also one of the factors for the market growth because of increasing pressure on transport and logistics companies to fulfill the demand for online shopping. But, due to COVID-19, the manufacturing industries are facing hurdles owing to complete shutdown of business operations across the globe. This has scaled down production for conveying equipment material because of an immeasurably affected supply chain. Several manufactures are providing industry specific solution for specific business requirements. This gives new opportunities to the market. For instance: - Daifiku Co. Ltd. offers web type chain conveyers designed for automobile assembly lines. This reduces the operational cost and production time. Digital technologies are also being implemented in transport and logistics to enhance the way the conveying equipment function in order to work efficiently.
The key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World are considered for the regional analysis of global Conveying equipment market. The European market has the largest share of conveying equipment with 30.5% of market revenue. Asia Pacific is expected to witness highest demand over the forecast period because of transportation boom in India, Malaysia, Vietnam, South Korea, and China.
Major market player included in this report are
Beumer Group GmbH & Co.
Daifuku Co. Ltd.
Fenner Group Holdings Ltd.
Kion Group AG
Murata Machinery, Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End Use:
Warehouse & Distributive
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Conveying equipment Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers