PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1551914
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1551914
The conveyors system market size is projected to grow from USD 10.4 Billion in 2024 to USD 14.8 Billion by 2030, at a CAGR of 6.0%. The Development of modular and easily scalable conveyor system/belt is taking the market/industry to a more flexibility-oriented material handling. The market will be driven by the automation across industries, conveyor systems to have more integration capabilities with other operations of the material handling across industries. Also, deployment of sensors to remain the prominent strategy/development area towards betterment of products thereby remaining competitive in the market. Also, The conveyor system market is witnessing robust growth driven by increasing sales volume by e-commerce players across globe which would significantly contribute to the conveyor system market due to increasing use of conveyors in warehouses.
Scope of the Report | |
---|---|
Years Considered for the Study | 2019-2030 |
Base Year | 2024 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Billion) |
Segments | Industry, Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket) Component, Operation & Region |
Regions covered | Asia Pacific, North America, Europe, and Rest of the World |
The Automated Conveyor segment is expected to see notable growth opportunities during the forecast period.
Automated conveyor systems are the fastest growing conveyor systems in the market. The preference for automated conveyors can be attributed to the high and efficient material handling, managing, and carrying capacity, resulting in higher efficiency. As the volume of material being handled or produced increases the need for increasing productivity will increase as a result a lot of repetitive tasks are expected to be mechanised and human efforts are expected to be diverted to more strategic requirements of the factory or establishment. Hence, there will be increase in adoption of automated conveyors system across the industry. For example, in February 2024, Skechers in collaboration with HAI robotics launched a fully automated warehouses which has a fully automatic goods-to-person system. Many such warehouses across globe are being built which will increase the demand for automated conveyors globally.
Meat and Poultry industry will see the fastest growth in conveyor system in the food sub-industry market.
To satisfy the increasing consumer demand for meat and poultry products, poultry product manufacturers are working on expanding their operations while ensuring compliance with the strictest food delivery and health safety standards. Conveyor systems allow for a more efficient processing by decrease manual handling and help to reduce chances of contamination. There has been a steady growth in population in all the regions studied in this report. As, the population increases the need for food and beverage producers to increase their output is rising. As a result, these producers are moving towards more mechanized systems of material handling to maintain a steady production line. Hence a rise in conveyor systems will be seen from meat and poultry industry.
Belt type conveyor systems will have the largest market share in airport industry.
The airport segment is likely to experience a rise in the adoption of belt-type conveyor systems owing to these systems being cost effective and easy to maintain. These systems will see a rise in because of growing volumes of passengers and cargo. The airports are also expanding and updating their facilities as air traffic keeps expanding. They enable handling of baggage of various sizes and can be automated since these systems are modular in nature. Furthermore, there is an increasing tendency towards replacing old technological setup with better designs requiring reduced maintenance costs hence these systems will see a steadily growing demands in the forecast period.
The Conveyor system s market comprises major manufacturers such as Siemens AG (Germany), Continental AG (Germany), Daifuku Co., Ltd. (Japan), Fives Group (Paris), and Taikisha Ltd (Japan).
The study covers the Conveyor systems market across various segments. It aims at estimating the market size and future growth potential of this market across different segments. The study also includes an in-depth competitive analysis of key market players, their company profiles, key observations related to product and business offerings, recent developments, and acquisitions.
This research report categorizes Conveyor system market by Conveyor System Market by Industry (Retail & Distribution, Food & Beverage, Automotive, Electronic, Mining, & Airport), Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket, & Others) Component, Operation (Automated, Semi-Automatic & Manual) & Region (North America, Europe, Asia-Pacific and Rest of the world)
The report's scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the Conveyor system market. A detailed analysis of the key industry players provides insights into their business overview, solutions, and services; key strategies; contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the Conveyor system market. Competitive analysis of SMEs/startups in the Conveyor system s market ecosystem is covered in this report.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Conveyor system market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.