Global Conveyor System 2020 Global Industry Report Potential Growth, Share, Demand And Forecast to 2027

 Market Research Future (MRFR) presumes the globalconveyor system market size to expand at a CAGR of 23.51% from 2020-2027 (forecast period).

Multiple Factors to Bolster Market Growth

A conveyor system is one of the most widely used and favored equipment in the world, and it may be utilized in a wide variety of applications. It is a piece of equipment used to handle and carry items within industrial premises, and it is utilized in a variety of industries such as automotive, manufacturing, retail, food and beverage, and transportation. Conveyor systems include a wide range of products such as belt conveyors, rollers, and pallets. Conveyor systems offer greater efficiency and handling of larger quantities of goods.

Conveyor System Market is primarily application driven, and such conveyor systems are growing popularity across end user sectors such as automotive, retail, food & beverages, and airport, which is referred to be one of the market's primary driving factors. Furthermore, rising FDI investments in the automotive sector, material safety concerns, and other factors are boosting market expansion. Currently, the Americas area is the largest market for conveyor systems, with the United States accounting for the majority of market share. Due to the existence of developing nations such as Mexico and Brazil, the conveyor systems market has grown.

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The Global Market to Grow Post COVID-19 Pandemic

The COVID-19 outbreak has wreaked havoc on world markets. Due to lockdown measures in various regions of the world, the material handling industry is witnessing an uncertain recovery timeline. Conveyor system orders have been delayed due to lockdowns and reduced operations at production plants and distribution locations. However, the growing popularity of e-commerce is likely to increase demand for conveyor systems. Due to the COVID-19 crisis, conveyor system manufacturers have witnessed substantial changes in their business operations. In response to the Japanese government's Basic Policies for Novel Coronavirus Disease Control, released on February 25, 2020, Daifuku Co., Ltd. formed a Novel Coronavirus Response Committee, which is chaired by the company's President. The second wave of COVID-19 has already been observed in Europe; the second wave in other nations could further impair the growth of the conveyor system market.

Due to the COVID-19 pandemic, the conveyor system market is experiencing considerable slowing in operations. As stated by the United Nations Industrial Development Organization (UNIDO), worldwide manufacturing output fell by 6.0% in the first quarter of 2020 as a result of lockdown measures imposed in response to the COVID-19 pandemic. Due to supply chain delays, demand for conveyor systems for new industrial facilities and distribution centers has been delayed. According to projections, the industry will recover at a substantial rate throughout the forecast period due to an increase in demand for automated conveyor systems in the post-COVID-19 scenario compared to the pre-COVID-19 scenario.

Market Segmentation

The global conveyor system industry has been segmented into type and application.

By type, the global conveyor system industry has been segmented into belt conveyors, rollers, pallets, overhead, and others.

By application, the global conveyor system market has been segmented into Automotive, Retail, Food & Beverages, Airport and others. 

Regional Analysis

APAC to Dominate the Global Market

Conveyor belts are the fastest expanding market in the Asia Pacific. The increased renovation and construction of new airports, distribution centers, and warehouses, as well as the development of environmentally friendly and cost-effective conveyor systems, will boost the Asia Pacific conveyor system market.

Key Players

The major player operating in the global conveyor system market are Daifuku, Dematic Group, Emerson Electric, Siemens AG, Allied Conveyor Systems, Caterpillar, Dorner Conveyors, Dynamic Conveyors, Fives Group, FMC technologies, Interroll, and Intelligrated.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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