The Business Research Company’s report on the Conveyor System Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the conveyor system market in recent years?
Rapid growth in e-commerce is expected to propel the growth of the conveyor system market going forward. E-commerce is the activity of electronically buying or selling products over an electronic network, primarily the internet. Conveyor systems are beneficial in the e-commercial sector as they provide quick and efficient delivery of packages and parcels of a variety of sizes, are fast in delivery, and are ideal for the specialized capacity of products. For instance, in February 2022, according to Shopify Inc., a Canada-based multinational e-commerce company, the global e-commerce market reached a total of $5.55 trillion in 2022. Moreover, Latin America saw $85 billion in e-commerce sales in 2021. Therefore, the growth in e-commerce is driving the growth of the conveyor system market.
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What is the projected market size of the conveyor system industry, and how is it expected to grow?
The conveyor system market size has grown strongly in recent years. It will grow from $9.71 billion in 2024 to $10.28 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to labor-saving devices adoption, maintenance and after-sales services, supply chain efficiency, emerging markets demand, cost reduction strategies.
The conveyor system market size is expected to see strong growth in the next few years. It will grow to $13.19 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to automation and industry 4.0 adoption, manufacturing sector growth, warehouse optimization, retail sector innovations, sustainability and green logistics. Major trends in the forecast period include integration with robotics, maintenance and after-sales services, demand in developing economies, labor costs and efficiency, globalization and trade.
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Who are the key players driving competition in the conveyor system market?
Major companies operating in the conveyor system market are Daifuku Co. Ltd., Continental AG, Siemens AG, Taikisha Ltd., Fives Group, Kion Group AG, Toyota Industries Corporation, KUKA AG, Honeywell International Inc., Murata Machinery Ltd., Interroll Holding AG, Beumer Group GmbH & Co. KG, Viastore Systems GmbH, SSI Schaefer AG, Knapp AG, Mecalux SA, Witron Logistik + Informatik GmbH, Kardex Group, Terex Corporation, FlexLink AB, Dorner Mfg Corp., Hytrol Conveyor Co. Inc., mk Technology Group Inc., TGW Logistics Group, Conveyor Systems Ltd., Conveyor Units Ltd., ConveyorTek Ltd., LAC Conveyors & Automation Ltd., Advance Automated Systems Ltd.
What key trends are expected to drive the contrast media market during the forecast period?
Technological advancement is the key trend gaining popularity in the conveyor system market. Major companies operating in the market are introducing new technologies such as the Internet of Things (IoT), radio-frequency identification (RFIDs), 2D radar technology, ultrasonic technology, and artificial intelligence (AI) to sustain their position in the market. For instance, in February 2022, Continental AG, a Germany-based company operating in conveyor systems introduced Conti Load Sense, a new 2D radar-based conveyor monitoring system. The unique features of this conveyor system include 2D radar-based monitoring that scans the material and conveyor belt from various angles to determine the position of the load and the belt and also utilizes ultrasonic technologies. This determines the precise amount of products being transported.
Which key geographies are driving the growth of the conveyor system market?
Asia-Pacific was the largest region in the conveyor system market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the conveyor system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the conveyor system market?
The conveyor system market covered in this report is segmented –
1) By Product Type: Belt Conveyor, Roller Conveyor, Pallet Conveyor, Overhead Conveyor, Tri-Planar Conveyor, Crescent Conveyor, Skid Conveyor, Trailer Conveyor, Other Product Types
2) By Component: Aluminum Profile, Driving Unit, Extremity Unit
3) By Operation: Manual, Semi-Automatic, Automatic
4) By End-User Industry: Retail, Food And Beverages, Poultry And Dairy, Automotive, Airport, Other End User Industries
Subsegments:
1) By Belt Conveyor: Flat Belt Conveyor, Modular Belt Conveyor, Wire Mesh Belt Conveyor, Cleated Belt Conveyor
2) By Roller Conveyor: Gravity Roller Conveyor, Powered Roller Conveyor, Accumulation Roller Conveyor
3) By Pallet Conveyor: Chain Driven Pallet Conveyor: Slat Pallet Conveyor, Roller Bed Pallet Conveyor
4) By Overhead Conveyor: Enclosed Track Overhead Conveyor, I-Beam Overhead Conveyor, Power And Free Overhead Conveyor
5) By Tri-Planar Conveyor: Horizontal Tri-Planar Conveyor, Inclined Tri-Planar Conveyor
6) By Crescent Conveyor: Modular Crescent Conveyor, Custom Crescent Conveyor Systems
7) By Skid Conveyor: Fixed Skid Conveyor, Portable Skid Conveyor
8) By Trailer Conveyor: Standard Trailer Conveyor, Custom Trailer Conveyor Systems
9) By Other Product Types: Screw Conveyor, Bucket Conveyor, Magnetic Conveyor, Chain Conveyor
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How is the conveyor system market defined, and what are its core characteristics?
A conveyor system refers to mechanical devices and material handling systems for automatically transporting loads and materials. These are used in many industries as standard piece of mechanical handling equipment for moving goods from one location to another as it minimizes the risk of human error, lowers workplace risks, and also reduces labor costs.
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