The global conveyor system market was valued at $9,113.9 million in 2020, and is expected to reach $15,183.1 million by 2030, with a CAGR of 5.1% from 2021 to 2030. The conveyor system helps in transporting the loads from one point to the other. It helps in saving the labor costs, provides more accuracy, reduces risks, and reduces the error that could be made by humans. It helps in transportation of bulky and the heavier goods. The conveyor systems help in saving time that could be done manually by the humans, and it consists of belt, which is attached to two pulleys. Conveyor systems are used in the airports for transportation of the luggage from one point to another and similarly the conveyor systems are used as escalators.
The major driving factor of the global conveyor systems market is the growing automation for the industries. Automation across the industry helps in saving labor costs & time and increases the productivity. Automation further helps in handling larger volume with lower labor efforts. Automated conveyors help in increasing productivity by providing smart solutions such as handling larger volume of goods in smaller duration of time . In addition, companies are adopting lean manufacturing systems that is leading the companies to increase productivity by decreasing the amount of wastage during the manufacturing process, which leads to improved delivery performance. This results in surge in adoption of conveyor systems.
However, high initial expenses associated with conveyor is restraining the conveyor systems market, due to the cost associated with the supports, wire rope, truss, power source, belt, and hardware. In addition, other than the initial cost, the operation costs and the maintenance costs such as cost of fuel, repairs, insurance, registration, and tire rotation cost restrain the market growth.
On the contrary, the e-commerce industry is growing due the adoption of artificial intelligence in addition with the adoption of virtual reality and modifying the software. Conveyor systems are used in the e-commerce industry, due to their application such as faster delivery, reduced packaging cost, and effective packaging.
The global conveyor system market is segmented into type, industry, load, and region. Depending on type, the market is divided into belt, roller, pallet, overhead, and others. By industry, it is segregated into food & beverages, pharmaceuticals, transport & logistics, manufacturing, automotive, and others. On the basis of load, it is fragmented into bulk and load. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The major driving factor of the global conveyor systems market is the growing automation for the industries. Automation across the industry helps in saving labor costs & time and increases the productivity. Automation further helps in handling larger volume with lower labor efforts. Automated conveyors help in increasing productivity by providing smart solutions such as handling larger volume of goods in smaller duration of time . In addition, companies are adopting lean manufacturing systems that is leading the companies to increase productivity by decreasing the amount of wastage during the manufacturing process, which leads to improved delivery performance. This results in surge in adoption of conveyor systems.
However, high initial expenses associated with conveyor is restraining the conveyor systems market, due to the cost associated with the supports, wire rope, truss, power source, belt, and hardware. In addition, other than the initial cost, the operation costs and the maintenance costs such as cost of fuel, repairs, insurance, registration, and tire rotation cost restrain the market growth.
On the contrary, the e-commerce industry is growing due the adoption of artificial intelligence in addition with the adoption of virtual reality and modifying the software. Conveyor systems are used in the e-commerce industry, due to their application such as faster delivery, reduced packaging cost, and effective packaging.
The global conveyor system market is segmented into type, industry, load, and region. Depending on type, the market is divided into belt, roller, pallet, overhead, and others. By industry, it is segregated into food & beverages, pharmaceuticals, transport & logistics, manufacturing, automotive, and others. On the basis of load, it is fragmented into bulk and load. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition Analysis
The major players profiled in the hot melt equipment market include Caterpillar, Daifuku Co., Fives, Interroll Group, Kardex, Kuka AG (Swisslog Holding AG), Mahindra Tsubaki Conveyor Systems Pvt. Ltd., Murata Machinery, Ltd., Siemens, Taikisha Ltd. Major companies in the market have adopted agreement, product launch, business expansion, partnership, and acquisition as their key developmental strategies to offer better products and services to customers in the conveyor system market.KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current trends, future estimations, and dynamics of the conveyor systems market
- In-depth conveyor systems market analysis is conducted by estimations for the key segments between 2021 and 2030
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities
- The market forecast analysis from 2021 to 2030 is included in the report
- The key market players operating in the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market industry
KEY MARKET SEGMENTS
By Type
- Belt
- Roller
- Pallet
- Overhead
- Others
By Industry
- Food & Beverages
- Pharmaceuticals
- Transport & Logistics
- Manufacturing
- Automotive
- Others
By Load
- Bulk
- Unit
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- Caterpillar
- Daifuku Co
- Fives
- Interroll Group
- Kardex
- Kuka AG (Swisslog Holding AG)
- Mahindra Tsubaki Conveyor Systems Pvt Ltd
- Murata Machinery, Ltd
- Siemens
- Taikisha Ltd
Table of Contents
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Market Overview
Chapter 4 Conveyor Systems Market by Type
Chapter 5 Conveyor Systems Market by Industry Vertical
Chapter 6 Conveyor Systems Market by Geography
Chapter 7 Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Conveyor systems Market by Type, Industry, and Load: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global conveyor systems market size was valued at $9.1 billion in 2020, and is expected to reach $15.2 billion by 2030, with a CAGR of 5.1% from 2021 to 2030. In 2020, Asia-Pacific dominated the global market, in terms of revenue, accounting for around 37.0% share of the global market.The conveyor system helps in transportation of the goods from one destination to other. It consists of pulleys and belts, and the belts are connected between two pulleys that help in rotating the pulleys for providing the efficient movement of the goods between two points. It is used in airports for transportation of luggage. Similarly, it is used in airports for the transportation of heavier passenger luggage from one destination to another .
The major driving factors of the conveyor systems market is the growing adoption of the lean manufacturing system by companies. The lean manufacturing system helps in decreasing the time, cost, and efforts by increasing the productivity. Conveyor systems provides the lean manufacturing system application by reducing time, cost, and labor errors by increasing productivity and handling more volume of goods, which is leading to more adoption of conveyor systems. In addition, to compensate with labor shortages, companies are adopting the automation system that helps in saving other cost. Hence, conveyor systems are used as the automated systems for the above applications, which is leading to the adoption of the conveyor systems and hence driving the market.
However, the cost associated with initial process is restraining the market growth. The initial cost is associated with the installation charges that include the charges associated with various components such as ropes, belt, hardware, supports in addition with the costs associated with power source. In addition, expenses related to repairs, fuels, insurance, tire rotation cost, and the registration cost is limiting the market growth.
In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering of the conveyor systems market growth. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.
On the contrary, conveyor systems are used for the e-commerce industry to provide efficient packaging, provide transportation of heavier goods for packaging, saving time, and reducing the costs. In addition, the e-commerce industry is growing due to adoption of artificial intelligence and modifying software. Hence, the growing e-commerce industry with growing adoption of the conveyor systems for the industry is creating new opportunities for the conveyor systems market.
The global conveyor system market is segmented into type, industry, load, and region. On the basis type, the market is divided into belt, roller, pallet, overhead, others. Depending on industry, the market is divided into food & beverages, pharmaceuticals, transport & logistics, manufacturing, automotive, and others. On the basis of load, the market is divided into bulk and load.
Region wise, the global conveyor systems market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global conveyor systems market share, and LAMEA is anticipated to secure a leading position during the forecast period.
The major players profiled in the hot melt equipment market include Caterpillar, Daifuku Co., Fives, Interroll Group, Kardex, Kuka AG (Swisslog Holding AG), Mahindra Tsubaki Conveyor Systems Pvt. Ltd., Murata Machinery, Ltd., Siemens, Taikisha Ltd.
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging global conveyor systems market trends and dynamics
- Depending on type, the belt segment was the largest revenue generator in 2020
- By industry, the food & beverages segment generated the highest revenue in 2020
- Based on load, the bulk segment dominated the market in 2020
- Region wise, Asia-Pacific is anticipated to dominate the global market throughout the study period
- The report provides an extensive analysis of the global trends and emerging opportunities of the market
Companies Mentioned
- Caterpillar
- Daifuku Co.
- Fives
- Interroll Group
- Kardex
- Kuka AG (Swisslog Holding AG)
- Mahindra Tsubaki Conveyor Systems Pvt. Ltd.
- Murata Machinery, Ltd.
- Siemens, Taikisha Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 9113.9 million |
| Forecasted Market Value ( USD | $ 15183.1 million |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
