Conveyor System Market CAGR of 3.5% Between The Forecast Period Of 2017 And 2025

The conveyor system is an important part of the overall material handling system that is required in every industrial process for various applications. Rapid industrialization coupled with rising demand for technology across various industries in order to automate the entire process is the most important factor predicted to accelerate the demand for conveyor systems in the coming years. According to the research report, the global conveyor system market was worth US$4697.1 mn in 2016 and is expected to reach US$6312.5 mn by 2025, surging at a CAGR of 3.5% between the forecast period of 2017 and 2025.

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The utilization of advanced techniques of production and automated equipment has become the primary need of various end-user segments for enhancing the quality of goods and facilitating timely production. This in turn is anticipated to promote the demand for conveying systems that are majorly utilized for shipment, transportation, packaging and other manufacturing-related activities. However, the selection of a proper and appropriate conveying system is majorly dependent on various factors such as application areas, pickup points for uploading and downloading and the type of products to be conveyed.

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Belt Conveyors to Lead the Pack as their Demand in Various Industrial Sectors Remains High
Different types of conveyor systems that are majorly used across various industrial sectors include roller conveyors, belt conveyors, pallet conveyors, overhead conveyors and others. Wheel conveyor, bucket conveyor, screw conveyor and vibrating conveyor is included within the others segment. In terms of revenue, among the different types of conveyor systems available in the market, the belt conveyor system held the largest market share in 2016 and is anticipated to maintain its dominance throughout the forecast period from 2017 to 2025. Extensive utilization of belt conveyors across various end-user segments including packing lines, dry areas in various food and pharmaceutical industries is the most important factor behind this segments dominance.

Conveyor system also finds its applications across various end-user segments including food processing, automotive, retail sector, airport and healthcare among others. On the other hand, based on the application of conveyor systems across various end user segments, the conveyor system market both in terms of revenue and volume is anticipated to be majorly driven by the food processing sector across the globe in the coming years. Technologically advanced and diverse conveyor systems are used extensively across various food processing industries in order to meet the need for specific edible products.

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Europe to Remain Dominant in the Global Conveyor Systems Market

On the basis of geography, the global conveyor systems market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. In 2016, Europe held the dominating market share of the conveyor system market in terms of revenue. This regional market is projected to rise at a CAGR of 2.7% over the forecast period. On the flip side, the Asia Pacific region is expected to experience the most promising growth in the coming years. An increasing number of manufacturing facilities combined with the rising demand for automation and efficiency from the various manufacturing sector is the primary factor responsible for the robust growth of the conveyor system market in the Asia Pacific region.

The global conveyor system market is highly competitive in nature with the presence of a large number of conveyor system manufacturers. Some of the major players operating in the conveyor system market include Daifuku Co. Ltd. (Japan), Schaefer Systems International Inc., Dematic Group and Murata Machinery Ltd. among others.

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Growing Need for Optimized Production Level to Drive Conveyor System Market

Conveyor systems are widely regarded as a vital tool in the transportation of materials from one space to another in industrial and commercial facilities as it is capable of diminishing the overall cost and time of production. Novel designs of conveyor systems to optimize productivity have been fuelled by solutions of industrial automation amongst its end-use sectors. These developments are likely to play an important role in the rapid development of the global conveyor system market in the years to come.

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