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Conveyor System Market

Conveyor System Market

Conveyor System Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Conveyor System Market
FACT4779MR
  • Aug-2021
  • List of Tables : 160
  • List of Figures : 180
  • 170 Pages
  • Industrial Goods

Market Snapshot

According to Fact.MR, 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.

Key Points Addressed in Conveyor System Industry Analysis

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Conveyor Systems and How to Navigate
  • Recommendation on Key Winning Strategies

Know More Details About the Report

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, packaging, and glass manufacturing 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.

Country-Wise Analysis

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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Category-Wise Analysis

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.

Competitive Landscape

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.

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Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Market Segments Covered

  • Production
  • Operation
  • Capacity Type
  • End Use
  • Region

Key Companies Profiled

  • Daifuku Co. Ltd.
  • SSI Schaefer AG
  • Murata Machinery Ltd.
  • Interroll Holding AG
  • Beumer Group
  • Honeywell International Inc.
  • Siemens AG
  • Dematic Company
  • Fives

Pricing

Available upon Request

Key Segments of the Conveyor System Market

  • Product

    • 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
  • Operation

    • Manual Conveyor System
    • Semi-Automatic Conveyor System
    • Automatic Conveyor System
  • Capacity Type

    • Unit Handling Conveyor System
    • Bulk Handling Conveyor System
  • End Use

    • 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

Conveyor System Market- Scope of Report

A recent study by Fact.MR on the conveyor system market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering conveyor systems.

The study also provides the dynamics responsible for influencing the future status of the conveyor system market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the conveyor system market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of conveyor systems across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of conveyor systems during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative conveyor system markets?
  • Which factors will impact the growth of conveyor system?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the conveyor system industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for conveyor system are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report.

Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global conveyor system market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the conveyor system industry during the forecast period.

Country-specific valuation on demand for conveyor system has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report. Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of conveyor system, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering conveyor system has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the conveyor system domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the conveyor system industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the 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, all of whom have contributed to the development of the research report as a primary resource.

- 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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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.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.