Global Conveying Equipment Market Analysis & Trends - Industry Forecast to 2030
Conveying Equipment: Market Size
From $81.84 billion in 2024, the global Conveying Equipment market is projected to reach $122.13 billion by 2030. Based on our analysis the market is expected to grow at a CAGR of 6.9% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include availability of advanced conveyor systems, rising labor cost, and ongoing industrialization.
Global Conveying Equipment Market: Market Dynamics
Various upcoming investments are expected in the mining industry in different countries around the world. As mining requires handling larger volumes of goods, the conveyor system is the preferred as well as economical solution for long distances. The increasing purchasing power of consumers and economic growth in these regions are the key factors that have encouraged the growth of the market.
On the other hand, the high initial investment is likely to obstruct the profit boundaries. In addition, development of manufacturing sector in various countries will further boost for the Conveying Equipment market.
Impact of COVID-19 on Conveying Equipment
The COVID-19 pandemic has disrupted markets on a global scale. The material handling industry is experiencing an uncertain recovery timeline due to lockdown implementations in various parts of the world. Lockdowns and partial operations of manufacturing facilities and distribution centers have delayed new orders for conveyor equipment. However, the rising trend in e-commerce is expected to boost the demand for conveyor equipment.
By Type
Belt Segment Dominate the Market in 2024
The belt segment made huge revenue in 2024 and growing its prominence during the forecast period. It is the most common conveying equipment which offers a wide variety of application across the industries. Belt conveyors can be operated at various speeds depending on the throughput required by using variable speed drive.
By Geography
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific region is likely to have a huge demand in the forecast period owing to the increasing number of industries and requirements for fast as well as efficient material handling system products.
List of the Key Players Profiled in the Market Include:
• Siemens AG • Murata Machinery, Ltd • Beumer Group GmbH & Co. KG • Continental • Emerson • Daifuku Co. Ltd • KUKA AG • Jungheinrich AG • Fenner Group Holdings Ltd • TGW Logistics Group GmbH • Flexlink Intelligrated, Inc • Kion Group AG • Fives Group • Phoenix Conveyor Belt System • Kardex Group
List of the Regions/Countries Profiled in the Market Include:
North America • US • Canada • Mexico Europe • Germany • U.K • Italy • France • Spain • Rest of Europe Asia Pacific • China • Japan • India • Australia • New Zealand • Rest of Asia Pacific Middle East • Saudi Arabia • UAE • Rest of Middle East Latin America • Argentina • Brazil • Rest of Latin America Rest of the World (RoW) • South Africa • Others