Conveyor System Market Forecasts to 2028 – Global Analysis By Operation (Manual, Automatic), Load (Unit Load, Bulk Load), Location, Type, Application, End User, and By Geography

Conveyor System Market Forecasts to 2028 – Global Analysis By Operation (Manual, Automatic), Load (Unit Load, Bulk Load), Location, Type, Application, End User, and By Geography

According to Stratistics MRC, the Global Conveyor System Market is accounted for $8.85 billion in 2021 and is expected to reach $15.17 billion by 2028 growing at a CAGR of 8.0% during the forecast period. Conveyor systems are mechanically-operated handling equipment used to transport materials within premises with a high degree of safety. Conveyor System is one of the most used & preferred equipment all over the world and it can be used in a wide range of applications.

Market Dynamics:

Driver:

Increasing demand for handling larger volumes of products

Mining requires handling larger volumes of products; the conveyor system is popular additionally as an economical resolution for long distances. The increasing popularity of online shopping and buying power of shoppers in developing regions are the key factors that have inspired the expansion of the manufacturing trade. Automation in manufacturing, baggage handling, food & beverages, mining, and varied alternative industries has brought the trade nearer to the zero-defect target.

Restraint:

High cost

The high initial cost is restraining the market growth, as it includes the expenses related to hardware, belt, power source, truss, wire rope, and supports. It is a mechanical system prone to wear, tear, haulage, and errors if not taken care of periodically. It requires systemic repairs and maintenance. Moreover, the maintenance and the operation of these systems such as registration, insurance, and fuel cost, repairs, and tire rotation need additional costs, which restrain the market growth.

Opportunity:

Rising e-commerce industry

E-commerce companies are extremely popular among online shoppers. The conveyor systems are used in the e-commerce industry for various applications such as fast delivery, efficient delivery of parcels, reduced time, and efficient packaging. Digitization in material handling equipment such as automated storage and retrieval systems and automated conveyors has emerged as a comprehensive solution. It has gained popularity among e-commerce companies, helping them handle order fulfillment processes efficiently. This is encouraging the e-commerce industries to adopt conveyor systems. Hence, the increasing e-commerce industry with growing trends of automation for increasing productivity is creating opportunities for the market.

Threat:

Assuring safety and reducing accidents

Conveyor systems can cause injuries if not handled with caution and care. Many accidents have caused severe losses to firms. Employees or workers who use or encounter conveyor systems should be properly trained to ensure their safety and security. The more complex these systems are, there is a high chance of failure. Continuous breakdowns may negatively impact the life of the conveyor system. Firms have to be compelled to abide by the norms set by the authority to scale back accidents and increase the security of workers.

The belt conveyor segment is expected to be the largest during the forecast period

The belt conveyor segment is estimated to have a lucrative growth as belt type of conveyors is extensively used in airports as they are easy to install and require little maintenance. With the increasing industrialization and urbanization across the world, especially in developing economies, the demand for conveyor belts in most industrial scenarios has surged dramatically.

The metal & mining segment is expected to have the highest CAGR during the forecast period

The metal & mining segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the continuous demand for minerals and rare earth metals. The demand has encouraged mining equipment companies to offer technologically advanced equipment that helps in performing better mining operations.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to complexities in the supply chain with regard to the transportation and handling of materials in the manufacturing and mining industries. The increasing development of domestic and international airports, expanding tourism industry, and growing population are likely to drive the growth of the conveyor system market for the airport industry in the region.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period owing to the extensive R&D infrastructure, a highly qualified workforce, and complete industry value chain integration. Conveyor system manufacturers in the region have made high investments in research and development for innovating technologies to stay competitive in the market. Moreover, huge demand for packaged food, and other consumer goods, strong governmental initiatives, and ongoing projects will boost the market in the region.

Key players in the market

Some of the key players profiled in the Conveyor System Market include Vanderlande Industries Holding B.V, TGW Logistics Group Gmbh, Dematic Group S.a.r.l, Swisslog Holding AG, Emerson Electric Co, Siemens AG, Murata Machinery Ltd, Kardex AG, Interroll Holding Ltd, Honeywell International Inc, Mesto Corporation, Eisenmann SE, SSI Schäfer AG, Daifuku Co., Ltd, Taikisha Ltd, Fives Group and Continental AG.

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 November 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 baggage per hour.

Operations Covered:
• Manual
• Semi-Automatic
• Automatic

Components Covered:
• Driving Unit
• Extremity Unit
• Aluminum Profile

Belt Types Covered:
• Heavy
• Medium
• Light

Loads Covered:
• Unit Load
• Bulk Load

Locations Covered:
• On-Floor
• In-Floor

Types Covered:
• Crescent Conveyor
• Wheel Conveyor
• Tri-Planar Conveyor
• Belt Conveyor
• Skid Conveyor
• Pallet Conveyor
• Overhead Conveyor
• Floor
• Powdered Roller Conveyor
• Trailer Conveyor
• Cable
• Bucket
• Other Types

Applications Covered:
• Textile & Paper
• Mineral
• Engineering Machinery
• E-Commerce and 3PL (3rd Party Logistics)
• Coal

End Users Covered:
• Packaging
• Manufacturing
• Chemicals
• Airport
• Food & Beverage
• Supply Chain & Logistics
• Retail & Distribution
• Pharmaceuticals
• Metal & Mining
• Consumer Electronics
• Automotive & Transportation
• Construction

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

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances