Europe Conveyor System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by System Type, Belt Type, and Industry

Medium Segment to Dominate Europe Conveyor System Market during 2019-2027

According to a new market research study on “Europe Conveyor system Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by System Type, Belt Type and Industry” is expected to reach US$ 2,691.58 million by 2027 from US$ 1,863.42 million in 2019. The market is estimated to grow at a CAGR of 5.0% from 2020 to 2027. The report provides trends prevailing in the Europe conveyor system market along with the drivers and restraints pertaining to the market growth. Rapid vehicle production to boost the demand for conveyor systems is the major factor driving the growth of the Europe conveyor system market. However, issues associated with environmental Worries owing to mining activities hinders the growth of Europe conveyor system market.

The Europe conveyor system market is segmented into system type, belt type, industry, and country. Based on system type, the Europe conveyor system market is segmented into the overhead, floor, roller, belt, and others. Belt segment held the largest market share of Europe conveyor system market in 2019. Based on belt type, the Europe conveyor system market is segmented into the light, medium, and heavy. Medium segment led the Europe conveyor system market in 2019. Based on industry, the Europe conveyor system market is segmented into food & beverage, automotive, airports, logistics, metals & mining, and others. Others segment held a substantial share of Europe conveyor system market during the forecast period.

Also Europe is severely affected by the ongoing COVID-19 pandemic. Russia, France, Spain, UK, Italy, and Germany are some of the worst affected member states in the European region. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or substantially reduce their activities. Owing to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to witness an economic slowdown in 2020 and most likely in 2021. The member states of Europe, such as the UK, Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit coronavirus spread among its citizens. European countries represent a major market for the conveyor system due to growing vehicle production, especially Germany. The systems help convey the parts used in vehicles and generate free space for new operations. The automotive industry in these countries has been affected by the pandemic due to a halt in the production of vehicles. All these factors are expected to have a direct impact on the conveyor system market growth in European countries. Conveyor system markets in Italy, Spain, Germany, the UK, and France are anticipated to see the worst impact in 2020 and likely in 2021.

Daifuku Co., Ltd.; DEMATIC, Emerson Electric Co.; Honeywell Intelligrated; Interroll Holding, GmbH; Siemens AG; SSI Schäfer; Swisslog; TGW Logistics Group; Vanderlande Industries B.V. are among the leading companies in the Europe conveyor system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, La Costeña worked together with SSI Schafer to develop a significant logistics solution that aims to increase storage capacity, pick efficiency, and dispatch productions. To meet the demands, SSI SCHAEFER creates a six-channel storage system with 28,332 pallet storage locations. That storage system is made up of two modules, which are connected by a pallet conveying system.

The report segments the Europe Conveyor System Market as follows:

By System Type

• Overhead
• Floor
• Roller
• Belt
• Others

By Belt Size

• Light
• Medium
• Heavy

By Industry

• Food & Beverage
• Automotive
• Airports
• Logistics
• Metals and Mining
• Others

By Country

• France
• Germany
• Italy
• Russia
• UK
• Rest of Europe

Reasons to Buy

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• The key findings and recommendations highlight crucial progressive industry trends in the Europe conveyor system market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the conveyor system market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution