A $65.1 Billion Global Opportunity For Conveyor Systems By 2026 - New Research From StrategyR

SAN FRANCISCO, Feb. 24, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Conveyor Systems - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 9; Released: February 2022
Executive Pool: 7247
Companies: 143 - Players covered include Allied Conveyor Systems, Inc.; BEUMER Group GmbH & Co. KG; Caterpillar, Inc.; Daifuku Co., Ltd.; Dematic Group ; Dorner Mfg. Corp.; Durr AG; Dynamic Conveyor Corporation; Eisenmann AG; Emerson Electric Co.; Fives Group; Flexlink AB; Honeywell Intelligrated; Hytrol Conveyor Co., Inc.; Interroll Group; Kardex AG; Mahindra Tsubaki Conveyor Systems (MTC) Pvt. Ltd.; Murata Machinery, Ltd.; SSI Schaefer - Fritz Schaefer GmbH; Swisslog Holding AG; Vanderlande Industries B.V. and Others.
Coverage: All major geographies and key segments
Segments: Type (Belt, Roller, Pallet, Overhead, Chain Conveyor, Other Types); End-Use (Warehouse & Distribution, Food & Beverage, Automotive, Airport, Mining, Electronics, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Conveyor Systems Market to Reach US$65.1 Billion by the Year 2026
Conveyor systems are widely used in manufacturing and distribution facilities for the movement of products ranging from bolts to pallets. The pace of industrialization and the growing need to automate processes in various industries continue to drive growth in the conveyor systems market. The growing need to accelerate flow of materials and improve operational efficiency has been driving companies worldwide to deploy conveyor systems in their facilities. The growing move towards assembly line process in various industry verticals for mass production purposes favors market growth. Growth in the market is also supported by the rising need to modernize older conveyor systems-related infrastructure. There is especially an increase in adoption of gearless and energy efficient conveyor system designs, on account of the growing regulatory pressures facing end-use customers to improve energy efficiency of conveyor systems. Demand is also rising for smart conveyor systems such as those capable of offering product traceability features. Long-term growth potential also exists in conveyor systems providing integrated machine vision features.

Over the years, various types of conveyor systems have been developed, keeping in view the rapidly changing needs of various industry verticals, particularly in terms of improving efficiency of operations. The development of new types of conveyors for use in conveyor systems is also aimed at simplifying the operations in various industries. Some of the various types of conveyors include belt, overhead, roller, crescent, tri-planar, spiral, sorter and pallet conveyors. Increasingly, a number of companies are utilizing a mix of basic conveyor types, which are assembled to form a single conveyor system. Technological advancements are also facilitating the development of customized conveying equipment. The integration of camera-based technologies and smart sensors is facilitating in performing preventive maintenance of this equipment. Such a customized solution is emerging due to the unique needs of various customers. There is also significant growth potential from the development of eco-friendly conveyor systems.

Amid the COVID-19 crisis, the global market for Conveyor Systems estimated at US$54.2 Billion in the year 2022, is projected to reach a revised size of US$65.1 Billion by 2026, growing at a CAGR of 4.3% over the analysis period. Belt, one of the segments analyzed in the report, is projected to grow at a 4.3% CAGR to reach US$17.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Roller segment is readjusted to a revised 5.4% CAGR for the next 7-year period. This segment currently accounts for a 19.7% share of the global Conveyor Systems market. Extensive use of belt conveyor systems in various end-use sectors contributes to the segment's large share. Demand for the systems continues to grow from diverse industry verticals due to their advantage in conveying a wide variety of goods regardless of shape, size and weight. The Roller segment growth will be fueled by the rapid growth of e-commerce industry, which will increase need for warehouses and thus drive demand for roller conveyor systems.

The U.S. Market is Estimated at $14 Billion in 2022, While China is Forecast to Reach $11.1 Billion by 2026
The Conveyor Systems market in the U.S. is estimated at US$14 Billion in the year 2022. The country currently accounts for a 26.1% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$11.1 Billion in the year 2026 trailing a CAGR of 6.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR while Rest of European market (as defined in the study) will reach US$11.8 Billion by the end of the analysis period. Growth in North America region is led by expanding presence of manufacturing plants and mining facilities in the US. In Europe, market growth is fueled by the expanding manufacturing activity and the growth in the region's automotive industry. Asia-Pacific represents a promising market for conveyor systems with increasing deployments witnessed across the rapidly expanding food & beverage, airport, automotive and retail sectors. The continuous increase in the number of manufacturing facilities and the escalating demand for automation as well as efficiency from various production facilities are driving growth in the region.

Pallet Segment to Reach $10.3 Billion by 2026
Pallet conveyors, also known as unit load conveyor or pallet handling conveyor, are commonly used for transporting, accumulating, and sorting large unit loads and discrete products. Pallet-based conveyors can be configured to meet an array of environmental requirements including ESD-compatible, dry room, cleanroom, and washdown applications. In the global Pallet segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6.2 Billion will reach a projected size of US$7.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2026, while Latin America will expand at a 4.5% CAGR through the analysis period. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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