Conveyor Systems Market Size Worth USD 7.76 billion Globally, by 2029 at 4.8% CAGR

As per the report published by Fortune Business Insights, the global Conveyor Systems Market size is projected to reach USD 7.76 billion by 2029, at a CAGR of 4.8% during the forecast period, 2022-2029

Pune, India, Jan. 27, 2023 (GLOBE NEWSWIRE) — The conveyor systems market size was valued USD 5.42 billion in 2021. The market is projected to grow from USD 5.60 billion in 2022 to USD 7.76 billion in 2029 at a CAGR of 4.8% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Conveyor Systems Market, 2022-2029.” Factors such as rising demand for handling a large volume of goods in manufacturing & warehousing operations and increased focus on automated material handling will boost the growth of the market during the forecast period. Additionally, increased attention towards developing smart & innovative technologies will increase the footprint of the market.

Industry Development

March 2021: Columbus McKinnon announced acquiring Dorner. Dorner is expected to function within the portfolio of Columbus McKinnon to widen its portfolio by integrating within the automating capabilities of Columbus McKinnon.

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Report Highlights:

Report Coverage Details
Forecast Period 2022-2029
Forecast Period 2022 to 2029 CAGR 4.8%
2029 Value Projection USD 7.76 billion
Base Year 2021
Market Size in 2021 USD 5.42 billion 
Historical Data for 2018-2020
No. of Pages 160
Segments Covered By Application, By Type, By Location, By Load and By Region
Growth Drivers Increasing E-commerce and Industry 4.0 are Driving Today’s Material Handling Boom
Uncertainty in Global Trade to Hinder Market Growth


COVID-19 Impact

Need for Automation in Good Transportation to Boost Conveyor System Installation

The COVID-19 pandemic impacted the market of conveyor systems as imposed lockdowns and shutting down of various manufacturing sectors took its financial impact. Shutting down of manufacturing activities further triggered a dispersed workforce and remaining manufacturers operating at a less-than-optimal capacity.
However, the conveyor systems market, it is always on a growing curve. The main reason behind is constant upgradation of material handling systems. The need for automation and goods transportation has further balanced the impact and complimented the continuous growth. Manufacturers were positively dealing by introducing new automated systems and partnering with regional companies

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Drivers & Restraints

Rising E-commerce Activity & Increasing Advent of Industry 4.0 to Augment Growth

Factors such as increasing e-commerce activities and transforming supply chains will boost the conveyor systems market growth during the forecast period. Rising demand for automation in manufacturing processes and the increasing advent of industry 4.0 will increase the footprint of the market. Also, increasing application of smart & innovative technologies will fuel the growth of the market.
However, uncertainties in global trade activities will limit the growth of the market during the forecast period.

List of Key Players Present in the Market

  • Dürr Group (Germany)
  • ATS Automation Tooling Systems Inc. (Canada)
  • Daifuku Co., Ltd. (Japan)
  • viastore SYSTEMS GmbH (Germany)
  • TOYOTA INDUSTRIES CORPORATION (Japan)
  • FlexLink (Sweden)
  • KION GROUP AG (Germany)
  • ERIKS North America, Inc (U.S.)
  • Taikisha Ltd. (Japan)
  • Conveyor Systems Ltd (England)

Report Coverage

The market report for conveyor systems contains a detailed analysis by encompassing critical
factors including types, location, and other segments & subsegments along with leading companies and their strategic approaches. Additionally, the report contains insights by factoring in competitive insights, SWOT analysis, ongoing market trends, and accompanying drivers and restraints. The report provides factors that are expected to impact the market in a considerable manner during the forecast period.

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Segments

Based on type, the market can be divided into roller conveyors, flat belt conveyors, wheel conveyors, vertical conveyors, & others.
By location, the market can be broken down into in-floor, on-floor, & overhead conveyors.
With respect to load, the market can be segmented into unit load & bulk load.
Based on application, the market can be fragmented into food & beverages, pharmaceuticals, supply chain & logistics, manufacturing, mining, & others.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Regional Insights

Asia Pacific to Hold Dominance Due to Increasing Developments Across FMCG Industry

Asia Pacific will occupy the largest conveyor systems market share during the forecast period due to rising development across various sectors including automobile, airport, FMCG, and mining industries to name a few. Additionally, the increasing concentration of industries’ adoption of automation solutions and the rising advent of industry 4.0 will drive the growth of the market in the region.
Europe and North America will witness a moderate growth rate owing to increasing adoption of automation within manufacturing units coupled with rising penetration of advanced technologies including Internet of Things (IoT), Radio-Frequency Identification (RFIDs), and Artificial Intelligence (AI) to name a few.

Competitive Landscape

Rapid Product Development & Expanding Regional Presence to Bolster Market Share for Dominant Players

The sector of conveyor systems is extremely fragmented with the rising number of manufacturers occupying the space. These manufacturers are focusing their attention on regional prospects in order to consolidate market share. Players are also aiming at capitalizing on digital transformations by diluting rising investments towards their R&D departments. For example, in January 2021, Gartenbau Paul Cox recently installed fixed conveyor belts in several of their greenhouses. This move will allow handling large-scale orders in a rapid and effective manner. Others are focused on employing strategic tactics including mergers & acquisitions, collaborations, and launching novel products.


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Global Conveyor Systems Market Size Segmentation:

By Type

  • Roller
  • Flat Belt
  • Wheel
  • Vertical
  • Others (Pneumatic and others)

By Location

  • In-floor
  • On-floor
  • Overhead

By Load

  • Unit Load
  • Bulk Load

By Application

  • Food & Beverages
  • Pharmaceuticals
  • Supply chain & Logistics
  • Manufacturing
  • Mining
  • Others (Airports and others)

By Region

  • North America
  • Asia Pacific
  • The Middle East & Africa
  • Latin America

Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Executive Summary
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Global Conveyor Systems Key Players Market Share Insights and Analysis, 2021
  • Global Conveyor Systems Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
    • Key Findings
    • By Type (USD Bn)
      • Roller
      • Flat Belt
      • Wheel
      • Vertical
      • Others (Pneumatic, etc.)
    • By Location (USD Bn)
      • In-floor
      • On-floor
      • Overhead
    • By Load (USD Bn)
      • Unit Load
      • Bulk Load
    • By Application
      • Food & Beverages
      • Pharmaceuticals
      • Supply chain & Logistics
      • Manufacturing
      • Mining
      • Others (Airport, etc.)
    • By Region (USD Bn)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America
  • North America Conveyor Systems Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
    • Key Findings
    • By Type (USD Bn)
      • Roller
      • Flat Belt
      • Wheel
      • Vertical
      • Others (Pneumatic, etc.)
    • By Location (USD Bn)
      • In-floor
      • On-floor
      • Overhead
    • By Load (USD Bn)
      • Unit Load
      • Bulk Load
    • By Application
      • Food & Beverages
      • Pharmaceuticals
      • Supply chain & Logistics
      • Manufacturing
      • Mining
      • Others (Airport, etc.)
    • By Country (USD Bn)
      • U.S.
        • By Location
          • In-floor
          • On-floor
          • Overhead
      • Canada
        • By Location
          • In-floor
          • On-floor
          • Overhead
  • Europe Conveyor Systems Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
    • Key Findings
    • By Type (USD Bn)
      • Roller
      • Flat Belt
      • Wheel
      • Vertical
      • Others (Pneumatic, etc.)
    • By Location (USD Bn)
      • In-floor
      • On-floor
      • Overhead
    • By Load (USD Bn)
      • Unit Load
      • Bulk Load
    • By Application
      • Food & Beverages
      • Pharmaceuticals
      • Supply chain & Logistics
      • Manufacturing
      • Mining
      • Others (Airport, etc.)
    • By Country (USD Bn)
      • U.K.
        • By Location
          • In-floor
          • On-floor
          • Overhead
      • Germany
        • By Location
          • In-floor
          • On-floor
          • Overhead
      • France
        • By Location
          • In-floor
          • On-floor
          • Overhead
      • Italy
        • By Location
          • In-floor
          • On-floor
          • Overhead
      • Spain
        • By Location
          • In-floor
          • On-floor
          • Overhead
      • Scandinavia
        • By Location
          • In-floor
          • On-floor
          • Overhead
      • Rest of Europe

TOC Continued…!

Important Points Covered in the Report:

  • Research Analyst says that the market size was at USD 5.42 billion in 2022 and is projected to reach USD 7.76 billion by 2029.
  • In 2022, the market value stood at USD 5.42 billion.
  • Growing at a CAGR of 4.8 %, the market will exhibit healthy growth in the forecast period (2022-2029).
  • Asia Pacific dominated the market share in 2022.

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