Conveyor System Market
Conveyor System Market Segmented By Product (Belt, Roller, Pallet, Overhead, Tri-Planar, Crescent, Skid, Trailer), By Operation (Manual, Semi-Automatic, Automatic), By Capacity Type (Unit Handling, Bulk Handling), By End Use, By Region - Global Insights 2021 to 2031
Conveyor System Market Outlook (2021-2031)
The global conveyor system market is anticipated to witness a growth at 2.9%, generating an absolute $ opportunity surpassing US$ 3.1 Bn. It is projected to surpass US$ 12.9 Bn by the end of the forecast period (2021–2031).
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.
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Consumption Analysis of Conveyor Systems from 2016-2020 Vs Market Outlook for 2021 to 2031
As per Fact.MR – a market research and competitive intelligence provider- over the last 5 years, the global market for conveyor systems expanded at a high CAGR, clocking a valuation exceeding US$ 12.1 Bn by 2020. Industrial automation solutions among end-users have paved the way for novel conveyor system designs to enhance productivity.
Growth prospects were downplayed with the outbreak of the coronavirus pandemic, as supply chain dynamics experienced significant disruptions, most of which resurfaced amidst the outbreak of the second wave in most countries. Thus, considering these factors, the market for conveyor system is projected to witness growth over the coming years, registering a 2.9% CAGR and surpassing US$ 12.9 Bn by the end of 2031.
How are Circular Economies Systems Driving Demand for Conveyor Systems?
Owing to the stringent government initiatives, end use industries are adopting strategies to reduce their carbon footprint and stem harmful emissions. This is encouraging manufacturers to move towards the circular economy.
Energy expenditure from running these systems is of primary importance. While labor and materials represent mainline items on the manufacturer’s bill of material, energy costs are typically not represented. Leading market players are collaborating to become energy efficient.
For instance, in May 2021, DuPont and Regina collaborated and announced the launch of breakthrough technology. Regina chose the new DuPont Delrin® Renewable Attributed resin for its chains and modular belts for bottling, glass manufacturing and packaging conveyor applications.
DuPont Mobility & Materials and Regina announced a first-to-market solution for conveyor chain and modular belts based on polymer produced from 100% bio-feedstock from waste.
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How is Rapid Industrialization Impacting the Global Market?
Rapid industrialization is highly involving the use of AI and IoT. With the increased demand for improvements in material movement, Industry 4.0 is taking over. They are integrating machine learning and the industrial internet of things with existing infrastructure to optimize their production and improve efficiency.
Smart machines are connected through the IoT with AI, conveyor systems are able to increase productivity by leaps and bounds. If one avenue of production is down for maintenance, pallet conveyor systems can reroute production in real-time without creating a back-up on the line that progressively affects every stage of production leading to the blockage.
In October 2020, Ultimation Industries announced the launch of the 4.0 conveyor retrofit kits utilizing Interroll’s industry 4.0 DC Platform technology consisting of upgraded controls and EC5000 RollerDrives. Its retrofit kits consist of all necessary Interroll EC5000 RollerDrives, idler rollers, controllers, cables, sensors, drive belts, and power supplies required to convert gravity conveyor sections over to motorized conveyors.
What is the Demand Outlook in the U.S Market?
The U.S. government is in limelight for its increasing investments towards expanding old airports and developing new ones to handle this increase in air traffic and air freight transport. This investment is expected to bode well with conveyor market growth in the country.
In April 2021, the U.S. Government introduced a new American Jobs Plan worth US$25 Bn in funding to support and develop its airport infrastructure. This will focus on safe and efficient air travel by supporting terminal renovations and multimodal connections that would provide affordable access for passengers and workers. The market for conveyor systems is projected to grow at around 3% CAGR.
How will China Stimulate Sales of Conveyor Systems?
China has reportedly been using conveyor systems efficiently across the agriculture and food and beverage industries. According to the World Bank, agriculture and related activities in China account for more than 7% of its total GDP as of 2020.
With a massive food processing industry working with automated production lines, the Chinese packaged food and beverage industry is predicted to fuel the demand for belt conveyor systems in the country. A market share of over 50% is projected for the Chinese market.
How will Germany Spearhead Growth across Europe?
Germany is the epicenter of the Industry 4.0 revolution. German manufacturers are increasingly investing and working towards the integration of smart technologies to make their manufacturing facilities fully automated.
For instance, in September 2020, Mercedes-Benz announced the incorporation of Factory 56. The new unit embodies the future of production and sets new standards for the automotive industry. With an investment of approximately 730 million euros, the factory at the Mercedes-Benz plant in Sindelfingen is a clear commitment to Germany as a business location.
With its “human at the center” goal, young and experienced colleagues work hand in hand in Factory 56. The vehicles on the line can be brought into the most favorable working positions for the employees by a choice of conveyor systems, for example, rotating overhead conveyors or mobile platforms.
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How will Packaging & Warehouse Distribution Deploy Conveyor Systems?
The packaging & warehouse distribution, one of the end use sectors in the global conveyor system market, is expected to witness growth at 3.5% CAGR 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. As per Fact.MR’s analysis, the segment will generate an opportunity worth US$ 973.2 Mn by 2031.
Why Are Belt Conveyors in High Demand?
According to Fact.MR, conveyor belts are projected to grow at a value CAGR of 2.7%, adding 1.6x the market value by 2031. Owing to their low maintenance and easy installation features, the belt conveyors are high in demand. They are also an integral part of the airport baggage system.
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 little maintenance.
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.
Leading market players are focusing their efforts on developing innovative products to strengthen their position in the global market.
- In September 2020, Austrian Post announced that it has selected Fives to automate a new distribution center in Vomp. The new solution comprises Fives’ proprietary technologies such as the GENI-Belt cross-belt sorter, GENI-Feed induction lines, and a singulator, handling 7,000 parcels per hour.
- In February 2021, Daifuku Co. Ltd. announced the signing of an agreement with Germany-based AFT Industries AG to collaborate on a project-by-project basis by utilizing AFT’s automotive customer base and technologies and Daifuku’s extensive global network, to provide a better offering to customers in the automotive domain which includes automated conveyor system.
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
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Key Segments of the Conveyor System Market
- Belt Conveyor System
- Roller Conveyor System
- Pallet Conveyor System
- Overhead Conveyor System
- Tri-Planar Conveyor System
- Crescent Conveyor System
- Skid Conveyor System
- Trailer Conveyor System
- Other Conveyor Systems
- Manual Conveyor System
- Semi-Automatic Conveyor System
- Automatic Conveyor System
- Unit Handling Conveyor System
- Bulk Handling Conveyor System
- Conveyor System for Packaging & Warehouse Distribution
- Conveyor System for Textile & Paper
- Conveyor System for Construction & Mining
- Conveyor System for Automotive & Transportation
- Conveyor System for Consumer Electronics
- Conveyor System for Food & Beverages
- Conveyor System for Chemicals & Pharmaceuticals
- FAQs -
According to Fact.MR, demand for conveyor systems was valued at above US$ 12.1 Bn in 2020
Sales of conveyor systems are projected to touch nearly US$ 12.9 Bn by the end of 2031
The global market for conveyor systems is expected to register a 2.9% CAGR.
Fact.MR anticipates that the global boost in e-commerce will add to the demand for conveyor systems
The emergence of Industry 4.0 is currently driving the demand.
Packaging and warehouse distribution is likely to open new expansion frontiers, generating an absolute opportunity worth US$ 973.2 Mn by 2031
The market across the U.S is projected to expand at around 3% CAGR until 2031
Germany is anticipated to register nearly 1/4th of the global conveyor system revenue
Belt conveyor systems are expected to be in high demand, expanding at a CAGR of 2.7% until 2031
The European region is projected to be highly lucrative during the forecast period
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