Global Conveyor System Market Research Report- Forecast 2030

Conveyor System Market, by type (Belt Conveyors, Roller, Pallet, Overhead and others), by Application (Automotive, Retail, Food & Beverages, Airport and others) - Forecast 2021-2028

ID: MRFR/CO/1490-HCR | November 2022 | Region: Global | 110 Pages         

Conveyor System Market

Conveyor System Market is projected to be worth USD 10.6 Billion by 2028, registering a CAGR of 3.9% during the forecast period (2021 - 2028).

Segmentation

By Type Belt Conveyors Roller Pallet Overhead others
By Application Automotive Retail Food & Beverages Airport others

Key Players

  • Daifuku Co. Ltd. (Japan)
  • Continental Conveyor (U.S.)
  • Bastian Solutions Inc. (U.S.)
  • Conveyor Systems Ltd (U.K.)
  • Dematic (U.S.)
  • Interroll (Schweiz) AG
  • Dürr AG (Germany)
  • Toyota Industries Corporation
  • Invata Intralogistics (U.S.)
  • Taikisha Ltd. (Japan)

Drivers

  • Increasing FDI investments in automotive sector.
  • Material safety concerns
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Conveyor System Market Overview


According to the worldwide Conveyor System Market forecast report, the present market is anticipated to expand the market size to approximately USD 10.6 Billion by the end of the year 2028. However, the global market for Conveyor System is registered to acquire the market value at a CAGR of 3.9% between 2021 to 2028. The conveyor belts are widely used in various manufacturing industries to transport the components that need adequate transportation or the heavy components. As per the requirement of the operational processes, the conveyor belts and pulleys are installed in the manufacturing industry. The rising material safety concerns and rising FDI investments in the automotive sector are projected to drive global market growth.


The worldwide Conveyor System Market has been segmented based on belt type, application, components, and types. Further, the type segment is classified into belt conveyors, pallet, roller, overhead, and others. The application segment is further segregated into automotive, food & beverages, retail, airport, and others. Based on the belt type segment, the global market for Conveyor systems is divided into medium-weight, lightweight, and heavy-weight. In terms of component segment, the global market has been segmented into aluminium profile, extremity unit (clamping strap and pulley), and driving unit (counter-bearing, motor bracket, and electrical drive).


Regionally, the worldwide Conveyor systems market has spread across regions like North America, Asia Pacific, Europe, and the rest of the world. Of these, the regional market of Asia-pacific is projected to generate a higher market growth rate during the review period due to the presence of major suppliers and manufacturing hubs in the region.


COVID 19 Analysis:


 


The COVID -19 pandemic has created several negative impacts on several manufacturing industries. The governments of several countries have restricted the operations of the industries and movement to control the spread of COVID-19. Therefore the conveyor system market value has reduced significantly due to the pandemic. Moreover, the industrial sectors are looking for strategies and methods that would promote their business post-pandemic. Therefore they are looking for solutions that increase their productivity rapidly. Such factors have increased the demand for automated technologies which are efficient in performing the key industrial operations when compared to the conveyor systems.


 


On the other hand, COVID has stimulated the demand for the manufacturing of certain pharmaceutical products and medicines such as HCQS. The increasing number of COVID cases across the world has increased the demand for medical supplies, which has stimulated the demand for the conveyor system across the globe for enhanced productivity. Similarly, the e-commerce sector faced rapid growth during the pandemic owing to the prolonged lockdown. Such factors have fuelled the conveyor system market growth.


 


Market dynamics:


 


Market drivers:


 


The increasing demand to handle larger volumes of goods in the industrial sectors and manufacturing industries are considered as the major market driver for the conveyor system market growth. Moreover, the increasing industrial operations and favorable purchasing power of the consumers and industrial regions are propelling the overall growth of the conveyor system industry.


 


The advent of technologies such as RFID and barcode technologies and smart devices in the conveyor systems are stimulating the overall performance of the conveyor systems. The efficient detection of any mechanical issues and integration of automated technologies are propelling the overall growth of the conveyor system industry.


 


Market opportunities:


 


The potential benefits of the conveyor systems such as minimal damages during the production and improved speed and accuracy and several other significant benefits are propelling the emerging industrial units to deploy the conveyor system in their manufacturing plants. 


 


The increasing demand in the material handling sector at critical times, with reduced labor and other issues, are considered as some of the key opportunities for the conveyor system market growth during the forecast period. For instance, one of the leading market players in the e-commerce sector, Amazon has announced its decision to increase the deployment of conveyor systems for the material handling processes due to the increasing demand throughout the pandemic.


 


Market restraints:


 


The accidents and occurrence of severe injuries of the workers in the conveyor systems of the manufacturing industries are some of the primary restraints of conveyor system market growth. In the year 2020, a female worker working in the food industry in the conveyor system has lost her arm. Such recurring incidences despite regular maintenance of the conveyor systems are affecting the overall growth of the conveyor system industry. 


 


The increasing utilization of automated vehicles and robots in the manufacturing industries are replacing the conveyor's systems, owing to the enhanced productivity and minimal operational costs and maintenance costs. Moreover, the increasing investment in the industrial sectors is presenting a favorable environment for the adaptation of advanced robots and automated systems. Such factors are restricting the overall growth of the conveyor system industry.


 


Market challenges:


 


Conveyor systems are mechanical systems that are either operated with gravitational force, electricity, or engines. It also comprises several moving parts that are capable of creating issues and such issues might affect the quality of the products transited in them. On the other hand, complex machines are prone to get major failures and breakdowns which might affect the productivity of the industry. 


 


The requirement of higher maintenance costs and installation costs and the replacement costs of certain components are some of the major challenges in the conveyor system market growth.


 


Cumulative growth analysis:


 


The conveyor systems are utilized in the manufacturing verticals intensively to increase productivity and to reduce the error rate that could occur on human intervention. The inventories and manufacturing plants of varied industrial departments are utilizing the conveyor systems are propelling the conveyor system market growth. Moreover, the industrial operations might require customization of the set-up at times. Therefore the demand for the overhead and on-floor conveyor systems are adopted for the major industrial processes and are expected to increase the overall growth of the conveyor system industry during the forecast period. The global conveyor systems market size was at USD 8.8 billion in the year 2020 and it is expected to surpass the market value of over 10.6 billion by the year 2025 while registering a CAGR of 3.9% during the forecast period.


 


The industrial sectors and the manufacturers are more inclined towards automated material handling and the industrial movements that make the manufacturing processes with minimal labor and operation time.


 


Value chain analysis:


 


The efficient operation of any conveyor system lies with the components used in the conveyor systems such as aluminum profile support, pulley, and clamping straps. Among other components used in the conveyor systems, the aluminum profile conveyor support is considered as the primary component which stimulates the overall conveyor system market value in recent years. This is due to the potential benefits of the aluminum profile conveyor support, which helps the belt to stay firm and removes sagging to a greater extent even when a heavy load is placed on the belt. The aluminum profile support in a conveyor is considered as the key component in the industrial conveyor system, as it effectively performs loading and unloading of the materials. Some of the key manufacturers of the aluminum profile conveyor support like Flexlink that is located in Sweden are manufacturing heavy-duty die-cast aluminum feet that are designed considering the vertical support beams and horizontal support beams with varied dimensions. 


 


On the other hand, the key end-user industries such as the automotive industry, across the globe are propelling the overall growth of the conveyor system industry. The increasing production of heavy-duty vehicles and commercial vehicles and the increasing investments in the automotive industry is majorly driving the overall growth of the conveyor system industry. Especially countries like China are highly inclined in the manufacturing of automotive and the automotive industry showcase higher demand for the conveyor systems for the efficient operation in the automotive industry. Additionally, the initiatives such as green conveying and other technical advancements with intensive usage of sensors are further propelling the overall growth of the conveyor system industry.


 


 Global Conveyor System Market: Segmentation


 


Segment overview:


  Based on Component:



  • Aluminum profile 

    • conveyor belt support



  • Driving unit

    • motor bracket

    • counter-bearing

    • electrical drive



  • Extremity unit 

    • Pulley

    • clamping strap




Based on conveyor type:



  • Belt

  • Tri planar

  • Crescent

  • Overhead

  • Floor

  • Roller

  • Others

    • Gravity

    • Chain

    • Overhead

    • vertical conveyors




Based on Belt Type:


 



  • Lightweight

  • Medium-weight

  • Heavy-weight


 


Based on End-User Industry:


 



  • Retail

  • Food & Beverages

  • Poultry & Dairy

  • Automotive

  • Airport

  • Others


 


Market Size of Global Conveyor system Market by Regions (USD Billion)


 



Regional analysis:


 


The automotive industry is considered as the major end-user industry of the conveyor system industry, which is due to the increasing demand for vehicle manufacturing. The Asia-pacific region is witnessing a higher growth rate in the automotive and other manufacturing industries and countries like China are considered as the manufacturing hub and are major suppliers for the rest of the world. Such factors are increasing the conveyor system market growth across the Asia-pacific region. Moreover, the presence of leading automotive manufacturers like BYD Automotive, Geely, Dongfeng, Volkswagen Group, and Ford Motor Co. across the region is propelling the overall growth of the conveyor system industry.


On the other hand, the increasing economic condition of the countries like North America is also expected to have a healthy growth rate in the conveyor system industry during the forecast period. The factors such as changing the lifestyle of the consumers, increasing employment opportunities, and relaxations in the government regulations imposed on the conveyor system industry concerning the retail and distribution sectors are aiding the conveyor system market growth in recent years. 


 


Competitive landscape:


 



  • Daifuku Co., Ltd. (Japan)

  • Continental Conveyor (U.S.)

  • Bastian Solutions, Inc. (U.S.)

  • Conveyor Systems Ltd (U.K.)

  • Dematic (U.S.)

  • Interroll (Schweiz) AG (Germany)

  • Dürr AG (Germany)

  • ATS Automation Tooling Systems Inc. (Canada)

  • Toyota Industries Corporation (Japan)

  • Invata Intralogistics (U.S.)

  • Taikisha Ltd. (Japan)


 


Recent developments:


In 2021


The prominent market player MHS Holdings Inc. did a partnership agreement with the TGW systems. These two market players are well known for their important roles in the industry conveyor systems. This acquisition has aimed to enhance and bring developments to the conveyor system industry.


Report overview:


 


This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


Segmentation Table:


  Based on Component:



  • Aluminum profile 

    • conveyor belt support



  • Driving unit

    • motor bracket

    • counter-bearing

    • electrical drive



  • Extremity unit 

    • Pulley

    • clamping strap 




Based on conveyor type:



  • Belt

  • Tri planar

  • Crescent

  • Overhead

  • Floor

  • Roller

  • Others

    • Gravity

    • Chain

    • Overhead

    • vertical conveyors




Based on Belt Type:


 



  • Lightweight

  • Medium-weight

  • Heavy-weight


 


Based on End-User Industry:


 



  • Retail

  • Food & Beverages

  • Poultry & Dairy

  • Automotive

  • Airport

  • Others



Report Scope:

Report Attribute/Metric Details
  Market Size   2028: USD 10.6 Billion
  CAGR   3.9% CAGR
  Base Year   2021
  Forecast Period    2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by type, by Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Daifuku, Dematic Group, Emerson Electric, Siemens AG, Allied Conveyor Systems, Caterpillar, Dorner Conveyors, Dynamic Conveyors, Fives Group, FMC technologies, Interroll and Intelligrated
  Key Market Opportunities   Industrialization
  Key Market Drivers

  • Increasing FDI investments in automotive sector
  • Material safety concerns


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    Frequently Asked Questions (FAQ) :

    The global conveyor systems market size was at USD 8.8 billion in the year 2020 and it is expected to surpass the market value of over 10.6 billion by the year 2028 while registering a CAGR of 3.9% during the forecast period.

    Leading application segments of the conveyor system market include automotive, food and beverage, retail, and airports.

    Growing demand for automation in industrial endeavors is the major driver for the conveyor system market.

    North America holds the largest share in the global conveyor system market, followed by Asia Pacific.

    Leading players in the global conveyor systems market include Dematic Group, Daifuku, and Siemens AG, among others.

    Major types of conveyor systems include belt, roller, pallet, and overhead.