Conveyor System Market By Type (Roller, Flat Belt, Wheel), Location (In-floor, On-floor), Load (Unit Load, Bulk Load), Application (Food & Beverages, Pharmaceuticals, Supply Chain & Logistics), & Region for 2024-2031

Conveyor System Market

Valuation - 2024-2031

The conveyor system market is experiencing a surge in demand due to the growing emphasis on automation and efficiency in various industries, including manufacturing, logistics, and warehousing. Conveyor systems help to streamline processes, minimize labor expenses, and increase production. The market size surpass USD 8.86 Billion valued in 2024 to reach a valuation of aroundUSD 12.31 Billion by 2031.

The rise of e-commerce and the necessity for speedier order fulfillment have increased the demand for efficient material handling systems. Conveyor systems have emerged as a vital tool for organizations seeking to streamline their supply chains and fulfill rising customer demands. The rising demand for cost-effective and efficient conveyor system is enabling the market grow at aCAGR of 4.20% from 2024 to 2031.

Conveyor System Market: Definition/ Overview

A conveyor system is a mechanical handling device that transports materials, products, or goods from one spot to another within a defined area, such as a production plant, warehouse, or distribution center. It usually consists of belts, rollers, or chains that convey things, which are often powered by motors or gravity. Conveyor systems are intended to increase efficiency by automating the transportation process, decreasing manual work, and accelerating manufacturing times. They are widely utilized in a variety of industries, including manufacturing, food processing, mining, and logistics, to improve efficiency and production.

Conveyor systems are used in many different sectors. They are essential in manufacturing assembly lines, allowing continuous output without the need for operator intervention. Conveyors in the food industry transport raw ingredients and packaged items while maintaining hygiene and speed. They facilitate package movement in warehouses and distribution centers, which is important in e-commerce and retail.

Conveyor systems' future potential resides in the integration of sophisticated technologies such as automation, artificial intelligence, and the Internet of Things. This will result in smarter, more efficient systems that can adapt to changing loads, optimize routes, and seamlessly interact with other automated operations, increasing productivity and lowering operational costs.

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How will the Growth of E-Commerce and Warehouse Automation Impact the Conveyor Market?'

The conveyor system market is predicted to increase rapidly as e-commerce and warehouse automation is becoming more prevalent. As e-commerce sales continue to soar, reaching USD 870.8 Billion in the United States alone by 2021, the demand for efficient material handling solutions such as conveyor systems will grow. These systems are essential for automating the movement of goods within distribution centers and warehouses, allowing businesses to manage higher volumes of orders with enhanced speed and precision. This tendency is projected to drive additional innovation and expansion in the conveyor system market as firms strive to improve operational efficiency to fulfill the expectations of the expanding online shopping sector.

Technological advancements in conveyor systems, notably the integration of Industry 4.0 technologies such as IoT and AI, are expected to fuel considerable growth in the conveyor market. As these advances make material handling procedures smarter, more efficient, and adaptive, the need for sophisticated conveyor systems is likely to increase. According to the International Federation of Robotics, global industrial robot sales will climb by 27% in 2021 to 486,800 units, highlighting the growing trend of automation. This development is directly related to the deployment of smart conveyor systems, which places them as a vital element in the future of industrial automation.

How Does the Complex Installation and Maintenance Affect the Growth of the Conveyor Market?

The complexity of installation and maintenance have an impact on the conveyor market's growth. While advanced conveyor systems provide substantial benefits in terms of efficiency and automation, their intricate design, as well as the requirement for specialized knowledge for installation and maintenance, may create hurdles for businesses. High installation costs and the necessity for frequent maintenance to avoid downtime may discourage some organizations from using these systems, particularly smaller businesses with limited funds. This may restrict market growth, particularly if businesses are unable to balance the initial expenditure with the long-term benefits of automation.

The complexity of installation and maintenance has an impact on the conveyor market's growth. While advanced conveyor systems provide substantial benefits in terms of effectiveness and automation, their intricate design, as well as the requirement for specialized knowledge for installation and maintenance, can present hurdles for businesses. High installation costs and the necessity for frequent maintenance to avoid downtime may discourage some organizations from using these systems, particularly smaller businesses with limited funds. This could hinder market growth, particularly if businesses are unable to reconcile the initial expenditure with the long-term benefits of automation.

Category-Wise Acumens

Will the Versatility Enhance the Flat Belt Conveyors Application in the Conveyor Market?

Flat belt conveyors is anticipated to lead the conveyor system market. The adaptability of flat belt conveyors is projected to fuel their expansion in the conveyor market. These conveyors can handle a wide range of materials and loads, making them suitable for a variety of industries, including manufacturing and food processing. Their capacity to safely transport products of various shapes, sizes, and weights makes them an appealing alternative for firms looking for adaptable and dependable material handling systems. This versatility not only improves operational efficiency but also eliminates the need for multiple conveyor systems, which drives up market demand for flat belt conveyors.

Flat belt conveyors are growing in popularity in the conveyor market due to their durability and long service life. These conveyors are designed to operate continuously and handle a wide range of products for lengthy periods of time without requiring frequent maintenance or replacements. Their durable design provides dependability and minimizes downtime, which is vital in businesses that require regular material handling. This longevity not only reduces long-term running expenses, but also makes flat belt conveyors a cost-effective and dependable option for enterprises, increasing market demand.

Will the Transporting Materials Fuel the Dominance of Manufacturing Segment in the Conveyor Market?

The manufacturing industry remained the dominating segment in the conveyor systems market. The necessity for effective material transportation is a major driver driving the manufacturing segment of the conveyor industry. In manufacturing, the capacity to move raw materials, components, and completed products rapidly and reliably across production stages is essential for sustaining high productivity and avoiding operating bottlenecks. Conveyors streamline these processes by providing a continuous, automated mode of transportation, increasing workflow efficiency, reducing manual handling, and lowering labor costs. Conveyors are indispensable in manufacturing due to their vital role in material handling, which drives industry demand and adoption.

The capacity to streamline processes cut labor costs, and increase output is a key driver for the conveyor market's manufacturing segment. Conveyors serve an important role in automating material handling processes, reducing the need for manual labor, and minimizing errors, resulting in lower expenses for labor. Furthermore, by guaranteeing a smooth and continuous flow of materials through the manufacturing line, conveyors assist minimize bottlenecks, improve operational efficiency, and raise overall productivity. These advantages make conveyors a vital investment for organizations looking to improve their manufacturing processes, increasing demand in the conveyor market.

Country/Region-wise Acumens

Will the Robust Infrastructure Lead the North American Region for the Conveyor System Market?

North America is anticipated to dominate the conveyor system market over the forecast period. North America's excellent infrastructure serves as a crucial driver for the region's conveyor system market. The well-developed manufacturing and distribution facilities, together with the growing use of automation, create a high demand for efficient material handling solutions such as conveyor systems. The warehousing and storage sector's expansion, with approximately 1.8 million workers engaged by 2022, exemplifies this tendency. Furthermore, the continued rise in manufacturing activities and the constant increase in e-commerce sales, which amounted to 14.8% of total U.S. retail sales in Q2 2023, highlight the need for modern conveyor systems to simplify operations and improve efficiency across the region.

Advanced automation is a major driver of the conveyor system market in North America. The region's growing adoption of smart conveyor systems, fuelled by more integration of robots and automation technology, is revolutionizing industries such as manufacturing and logistics. In 2022, North American corporations placed 44,196 robot orders, demonstrating the increased desire for automated solutions. The United States Bureau of Labor Statistics predicts a 14% increase in occupations connected to industrial machinery and maintenance, highlighting the growing complexity of these systems. Furthermore, with 79% of supply chain leaders speeding digital transformation and Canadian businesses expanding their investment in innovative technology, the demand for sophisticated conveyor systems is likely to drive market expansion in North America.

Will the Government Initiatives Expand the Asian Pacific Region for the Conveyor System Market?

Asia-Pacific's conveyor systems market is rapidly expanding. Government initiatives are a major driver of the conveyor system market in Asia Pacific. Programs such as China's "Made in China 2025" and India's "Make in India" campaigns have radically accelerated industrial automation and modernization efforts, resulting in a higher need for innovative conveyor systems. China's robotics industry's operational income increased by 8.3% in 2022, showing the impact of these initiatives on automated production lines. Significant Foreign Direct Investment (FDI) in India's manufacturing sector is pushing up demand for advanced material handling technologies. Japan's leadership in industrial automation, with a 23% growth in robot orders in 2022, and estimates of broad automation in Southeast Asia by 2030, all point to government-backed industrial plans accelerating the adoption of conveyor systems throughout the region.

Emerging markets are boosting Asia Pacific's conveyor system market. Rapid industrialization and economic expansion in numerous areas are driving up demand for innovative material handling technologies. The region's predicted economic growth of 4.8% in 2023 and 4.9% in 2024, together with China's 3.6% increase in industrial production in 2022, highlights the growing demand for efficient conveyor systems in manufacturing. The rise of India's logistics sector, which is predicted to reach USD 380 Billion by 2025, as well as Australia's growing mining sector, which is likely to experience record export values, will fuel demand for durable conveyor systems.

Furthermore, the explosive development in e-commerce sales, which is expected to reach USD 3.5 Trillion by 2025, greatly increases the demand for advanced conveyor systems in fulfillment centers, making emerging markets an essential driver of the conveyor system market in Asia Pacific.

Competitive Landscape

The conveyor system market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the conveyor system market include:

• Emerson
• Siemens
• Continental
• Daifuku
• Mecalux SA
• Taikisha
• Honeywell Intelligrated
• Dematic
• SSI Schaefer
• Durr Group
• ATS Automation Tooling Systems, Inc.
• Daifuku Co., Ltd.
• viastore SYSTEMS GmbH
• TOYOTA INDUSTRIES CORPORATION
• Invata

Latest Developments

• In November 2023, ProStack expanded its stacker portfolio with the introduction of the Ranger 6-24TR Tracked Radial Conveyor. This model is designed for effective and adaptable stockpiling in quarrying and mining, and it sets new benchmarks for efficiency, flexibility, and automation.
• In April 2023, Interroll will launch the new High-Performance Conveyor Platform (HPP) with features tailored exclusively to the courier, express, and parcel service industries.
• In February 2023, Murata Machinery USA, Inc. (Muratec), an automation pioneer consisting of logistics and clean room and a world-class leader in machine tool and fabrication technology, declared the latest addition to Muratec's range of automated material handling solutions for small product storage and retrieval-the new Ledger A3 mini-load is a four-tote carriage automated storage, retrieval system (AS/RS) and high-density.