Conveyor Maintenance Market Forecasts to 2028 – Global Analysis By Component Type (Cleaner, Conveyor Belt), Conveyor Type (Metal, Rubber), Service Type, End User, and By Geography
According to Stratistics MRC, the Global Conveyor Maintenance Market is accounted for $187.26 million in 2022 and is expected to reach $248.10 million by 2028 growing at a CAGR of 4.8% during the forecast period. A conveyor system is a mechanical material handling equipment that transports things from one point to the next. For productive working and great output, the conveyor needs proper maintenance and servicing from time to time, hence the conveyor maintenance market deals with the maintenance of the conveyor.
The majority of the retailers are planning to automate their warehouse establishments, rather than expanding, in such high-priced a rental environment. According to the Robo Business Warehouse Automation Report, almost around 80% of warehouses are still manually operated with no supporting automation. Mechanized warehouses account for 15% of total warehouses, while only 5% of total current warehouses are automated. This provides ample opportunities for the conveyor market to grow consistently.
Market Dynamics:
Driver:
Increasing demand for e-commerce
The rising prevalence of online shopping is the key factor supporting the development of the e-commerce industry. E-commerce companies need to stock large volumes of products in their warehouses. E-commerce companies also need to offer order accuracy, same-day same-hour delivery, and free returns to compete. Therefore, e-commerce companies are continually looking for economical ways to reduce their delivery times. Digitization in material handling equipment has emerged as a comprehensive solution. It has acquired popularity among e-commerce companies, helping them handle order fulfillment processes efficiently. As demand for online purchasing continues to increase, the demand for conveyor systems in the e-commerce industry is likely to grow.
Restraint:
Lack of skilled workforce for repair and maintenance of sales
Conveyor systems are a culmination of different technologies assembled to make logistical operations smooth and efficient. It needs systemic maintenance regularly by the experts. Many organizations have production operations at different locations, and the availability of service or repair facilities is comparatively lesser, which projects it as a restraint for the conveyor system market across different regions of the world. Limited funds, lack of information, and training costs needed to train workers may restrain the market growth.
Opportunity:
Increasing trend of green conveying
Green conveyors include lower energy utilization, limiting the amount of material utilized in conveyors, and expanding the positive human impact of these systems, such as lower noise and increased safety for workers. Green conveyors assist manufacturers to save money and addressing the pressing issue of climate change by lowering carbon emissions. The utilization of conveyor controls such as the sleep mode, where the motors turn off to save energy when the belt is not in use, or variable speed controls can essentially assist in changing existing conveyor systems into greener versions.
Threat:
Safety and reducing accidents
The rising demand for improved efficiency and material handling capacities increases the safety concerns as heavy loads are involved. Conveyor systems can cause injuries if not handled with caution and care. Workers who use or experience conveyor systems should be properly trained to ensure their safety and security. Conveyor systems have complex components and are prone to a few minor issues that could enhance into major issues leading to complete halting of work.
The conveyor belt segment is expected to be the largest during the forecast period
The conveyor belt segment is estimated to have a lucrative growth due to the increased demand encouraging mining equipment companies to offer technologically advanced equipment that helps in performing better mining operations. As conveyor belts are constantly used, increasing the production of cars is likely to drive the conveyor maintenance market growth.
The rubber segment is expected to have the highest CAGR during the forecast period
The rubber segment is anticipated to witness the fastest CAGR growth during the forecast period as rubber conveyors are capable of transmitting shock and vibration, resulting in lesser transmission noise. Moreover, the rubber conveyor belts do not need to be lubricated.
Region with highest share:
Europe is projected to hold the largest market share during the forecast period due to the increasing adoption of automation and the presence of many foods processing plants in Germany, France, and the UK. The growth in warehouse automation adoption rates, such as conveyors in this region, is primarily fueled by the rapid increase in e-commerce and retail investments.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period owing to the country's global leadership in mining and an estimated increase in production and distribution capabilities during the forecast period. The initiatives & investments associated with increasing manufacturing in the region are likely to drive the growth of the conveyor maintenance market in the region.
Key players in the market
Some of the key players profiled in the Conveyor Maintenance Market include Flexco, Habasit, Rema Tip Top, Fenner Dunlop, Nepean, Minprovise, Kinder, Forbo Siegling, Endless Belt Service, Continental AG, Reliable, and Fives Group.
Key Developments:
In Feb 2022, Continental AG launched ContiLoad Sense. The system scans the material and conveyor belt from various angles to determine the position of the load and the belt utilizing 2D radar and ultrasonic technologies. This calculates the volume of goods transported precisely.
In Nov 2021, Fives Group introduced Hold Baggage Screening (HBS) system. The handling solution includes a conveying system equipped with a baggage carousel for makeup and integrating 2 latest generations of tomographic scanners to process 800 baggages per hour.
Component Types Covered:
• Cleaner
• Roller and Idler
• Conveyor Belt
Conveyor Types Covered:
• Metal
• Plastic
• Rubber
Service Types Covered:
• Maintenance Service
• Component Fixing
End Users Covered:
• Pharmaceutical
• Industrial Heating Equipment
• Mining
• Food Processing
• Industrial and Automotive
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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