$9.9 Billion Conveyor System Market - Global Forecast to 2025: Advanced Conveyor Systems Like Boom Conveyor and Heat/Fire Resistant Conveyor Gaining Momentum
Conveyor systems are an important part of the material handling process and are involved in every industrial step.
DUBLIN, Jan. 28, 2019 /PRNewswire/ --
The "Conveyor System Market by Industry (Warehouse & Distribution, Food & Beverage - Meat, Poultry, Dairy, Automotive, Electronics, Mining, Airport), Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
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.
The growing demand for handling larger volume in manufacturing industries has increased the demand for industrial automation. Conveyor systems are an important part of the material handling process and are involved in every industrial step. The conveyor systems market is influenced by factors such as industrial growth, expansion, modernization of industries, and product & process-specific conditions. Earlier, limited conveyor types such as belt, chain, and roller conveyors were used. However, in recent years, this scenario has changed with the advent of advanced conveyor systems.
For example, green conveying is the future trend of conveyor system market. Green conveyors are a threefold concept, which involves lower energy consumption, minimizing the amount of material used in conveyors, and maximizing the positive human impact these systems have such as lower noise and increased safety for the employees. Green conveyors help manufacturers save money and address the pressing problem of climate change by lowering carbon emissions.
The demand for conveyor systems in an industry is driven by expansions in the industry, and the study follows the same methodology to estimate the global market size of conveyor systems across industries. The study tracks expansions, new plant announcements, and their completion dates for every industry under the scope. Based on these developments, it estimates the present as well as future demand for conveyor systems in every industry under the scope. In addition, the study segments the demand for conveyor systems in every industry by conveyor type. The average selling price of different conveyor types has been used to arrive at the global market size of conveyor systems.
The Asia Pacific market is projected to be the largest market by 2025. The growth can be attributed to the improving economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The rapidly growing population in countries such as China and India has increased the demand for conveyor systems in several industries such as automotive, airports, food & beverage, and warehouse & distribution. China has one of the largest and fastest growing manufacturing sectors, which augurs well for the suppliers of conveyor systems.
Market Dynamics
Drivers
- Rising Demand for Handling Larger Volumes of Goods and Improving Productivity
- Growing Vehicle Production to Increase the Demand for Conveyor Systems
- Growing Mining Activities Around the Globe
- Increasing Passenger Handling Capacities of Airports & Freight to Increase the Conveyor System Demand
- Increasing E-commerce Trend to Fuel the Demand for Conveyor Systems in the Industry
- Increased Demand for Processed Food to Boost the Demand for Food & Beverage Conveyor Systems
- Awareness About Personal Wellness to Increase Demand for Conveyor Systems in the Industry
Restraints
- High Initial Investments
- Concerns Over Environmental Impact of Mining Activities
- Increasing Usage of Automated Guided Vehicles & Robotics
Opportunities
- Advanced Technologies in Conveyor Systems
- Green Conveying
- Growing Digitization in Material Handling Industry
- Advanced Conveyor Systems Like Boom Conveyor and Heat/Fire Resistant Conveyor
- Growing Manufacturing Industry in Developing Countries
Challenges
- Requirement of Skilled Workforce for Repair and Maintenance
- Reducing Chances of Contamination in Food Items
- Ensuring Safety and Reducing Accidents
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Conveyor System Market for Airport Industry, By Conveyor Type
8 Conveyor System Market for Automotive Industry, By Conveyor Type
9 Conveyor System Market for Warehouse & Distribution, By Conveyor Type
10 Conveyor System Market for Mining Industry, By Conveyor Type
11 Conveyor System Market for Food & Beverage , By Sub-Industry
12 Conveyor System Market for Electronics Industry, By Conveyor Type
13 Conveyor System Market, By Conveyor Type
14 Conveyor System Market, By Region & Industry
15 Competitive Landscape
16 Company Profiles
- Bastian
- Continental
- CSL
- Daifuku
- Dematic
- Emerson
- Fives
- Honeywell Intelligrated
- Interroll Holding GmbH
- Invata
- Khare Group
- Phoenix Conveyor Belt Systems
- Siemens
- Somi Conveyor Beltings
- SSI Schaefer
- Swisslog
- Taikisha
- TGW Logistics Group
- Vanderlande Industries B.V.
- Westfalia
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