Conveyor System Market Insights
The global conveyor system market is anticipated to witness a sluggish growth of 2.9%, to create an absolute $ opportunity of more than US$ 3.1 billion. It is projected to be valued at more than US$ 12.9 billion by the end of the forecast period (2020 – 2030), predicts Fact.MR.
Conveyor systems are important for transporting materials from one area to another in commercial and industrial facilities, as it reduces the production time and total costs. Industrial automation solutions among end-users has paved way for novel conveyor system designs to enhance productivity.
With the effective use of industrial automation and solutions, such as conveyor systems, production and inline operations of products can be improved considerably. The coronavirus pandemic is distorting many supply chains, especially for e-commerce companies.
A dramatic spike in orders followed by a reduction in manufacturing and shipping, along with products running out of stocks has brought on an abrupt change in consumer buying behaviour. This is creating high demand for warehouse space, which is expected to boost demand for a material handling equipment such as conveyor and storage systems.
Conveyer System Market Share by Product
Industrial development activities in emerging economies owing to reforms made by the respective governments is driving the growth of conveyor belts. Conveyor belt manufacturers are widely using them at airports for baggage screening and collection.
The expansion of existing airports and the development of new airports will drive the conveyor belts segment for Asian and North American markets. New conveyor belt designs are also being used in manufacturing as they are easy to install and require very less maintenance.
Due to COVID-19 lockdown, the manufacturing industry is facing dormancy due to complete shutdown of business operations. Those companies who have been able to restart their manufacturing facilities are facing abruptly scaled down production for conveyor belt material due to a vastly affected supply chain. This will hinder adoption of conveyor belts. The segment is expected to lose 78 BPS from its market share to be valued at US$ 5.0 billion by the end of forecast period.
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Conveyer System Market Share by End-Use
The Packaging & Warehouse distribution, one of the end use sectors in the global conveyor system market is expected to witness growth of 3.5% during the forecast period. Growing demand for e-commerce is one of the main drivers for the growth of the conveyor systems market for warehousing & distribution. In the future, e-commerce and industry 4.0 will shift traditional supply chains by compelling companies to transform the way they store, track and move materials by using technology & automation thus creating the demand for conveyor systems.
Demand for new warehouse spaces is rising as supermarkets, pharmaceuticals companies and online retailers struggle to keep up with the demand spike amid COVID-19. To ensure inventory levels are adequate and to meet demand for groceries and supermarkets, vendors are keeping higher amounts of merchandise in stock, thus increasing the demand for warehouse space. Increasing demand for goods brought online, especially food will also fuel the need for more distribution facilities.
Conveyer System Market Share by Region
Europe is projected to be the leader in the global conveyor system market with more than 25% market share during the forecast period. In Europe, the key driver of the conveyor system is the expansion of warehousing. Increasing opportunities from pharmaceutical and automation industries are driving the expansion of warehouse capacities in Europe.
Owing to the presence of many automotive manufacturers, countries such as Germany are expanding their warehouse capacity. Europe has been a prominent adopter of industrial automation, owing to increasing investments in the Industry 4.0. Europe accounts for more than one third of the global industry 4.0 automation, according to CBI Ministry of Foreign Affairs.
The COVID-19 pandemic will influence supply chains of manufacturing, pharmaceuticals and automotive. The pandemic has also affected transportation and trade because of travel restrictions, quarantine, border control measures and disrupted production.
This has disrupted the supply chain of essential raw materials and equipment used in the manufacturing sector. Due to these factors there will be a downward curve for material handling equipment such as conveyor systems, thus resulting in slow growth of the conveyor system market in European countries.
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Conveyor System Manufacturers’ Strategy Insights
The global conveyor systems market is highly competitive in nature. Leading players are adopting strategic acquisitions in order to maintain their position in the market. For instance, in April 2019, Daifuku Co., Ltd. completed acquisition of India-based Vega Conveyors & Automation Private Limited (“Vega”).
Vega is involved in consulting, designing, manufacturing, installation, and after-sales services of conveyors and other material handling equipment in the Indian market. Some of the prominent players in the global market are Daifuku Co., Ltd., holding more than 20% share of the market followed by Schaefer Systems International Inc. which accounts around 10-12% share of the global conveyor systems. Other leading players in the market are Interroll Holding AG, Beumer Group, Honeywell International Inc., Siemens AG, Dematic Company, Fives, and Murata Machinery.
COVID-19 Impact on Global Conveyor System Market
The COVID-19 pandemic has seriously impacted supply chains, as manufactures and retailers face the possibility that suppliers will halt production. Most of the key regions of the world are under complete lockdown in order to prevent the spread of the COVID-19.
No industry is immune from its adverse impacts. For instance, general merchandising will see a huge short-term spike in e-commerce demand. Manufacturers will suspend their warehouse automation plans during this crisis situation. However, in the mid-term, manufacturers will increase the demand of warehouse automation solutions as customers buying habits will change.
Companies are altering their operations to ensure that their warehouses keeps up with the demand for groceries and other essential supplies while prioritizing health and safety during the COVID-19 pandemic. As per the report published by Fact.MR, it is estimated that the conveyor system market will start showing positive signs by the end of 2020 with a positive outlook from e-commerce and the anticipated increase in warehousing & distribution.
An Adaptive Approach to Modern-day Research Needs
The ongoing pandemic has increased the movement of essential goods such as foods and medicines which has increased the demand for warehousing spaces globally. However, manufacturers shifting warehouses from traditional to automation will create new opportunities for conveyor systems.
Global Conveyor System Market Report Scope
The recent global conveyor system market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats to the expansion of the global conveyor system market. A detailed segmental analysis, based on product, operation type, capacity type, and end use, has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global conveyor system market. In addition, a separate section on the market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the conveyor system market.
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Key Segments of the Conveyor System Market
Fact.MR’s study on the conveyor system market offers information divided into four key segments— product, operation, capacity type, end use, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
- Belt Conveyor
- Roller Conveyor
- Pallet Conveyor
- Overhead Conveyor
- Tri-Planar Conveyor
- Crescent Conveyor
- Skid Conveyor
- Trailer Conveyor
- Unit Handling
- Bulk Handling
- Packaging & Warehouse Distribution
- Textile & Paper
- Construction & Mining
- Automotive & Transportation
- Consumer Electronics
- Food & Beverages
- Chemicals & Pharmaceuticals
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa (MEA)
Global Conveyor System Market - Scope of the Report
Fact.MR recently published a market study on the global market for conveyor system. The study provides a detailed assessment on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the conveyor system market structure. The market study presents exclusive information about how the conveyor system market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact. MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the conveyor system market in the forecast period.
The study is relevant for stakeholders in the conveyor system market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the conveyor system market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.
The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the conveyor system market. It also offers actionable insights based on future trends in the conveyor system market. Furthermore, small businesses and new entrants in the conveyor system market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in Fact.MR’s Conveyor System Market Report
- Which regions will continue to remain the most profitable regional markets for conveyor system market players?
- Which factors will induce a change in the demand for conveyor system during the assessment period?
- How will changing trends impact the conveyor system market?
- How can market players capture the low-hanging opportunities in the conveyor system market in developed regions?
- Which companies are leading the conveyor system market?
- What are the winning strategies of stakeholders in the conveyor system market to upscale their position in this landscape?
Conveyor System Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the conveyor system market, and reach conclusions on future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of conclusions.
Secondary resources referred to analysts during the preparation of the conveyor system market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who have contributed to the development of this report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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