Conveyor System Market to Surpass US$ 12.9 Bn by 2030, Automation Technologies Gain Prominence During Coronavirus Outbreak, Says FACT.MR
Major players in the conveyor system market are interested in product differentiation initiatives and design changes to comply with social distancing standards to sustain growth through the crisis period.
ROCKVILLE, MD / ACCESSWIRE / August 3, 2020 / The conveyor system market is anticipated to cross a valuation of US$ 12.9 billion between the period from 2020 to 2030. The coronavirus pandemic is having a negative impact on the industry, largely because of suspended activities in multiple industrial verticals. However, demand for conveyor systems in essential services such as food and medicine will partially mitigate the losses. Further, manufacturers are pushing to distribute automated conveyor system options to minimize transmission of the covid-19 among workers, which will help in a faster recovery of the market after the lockdown restrictions are lifted.
“The rising applications in the e-commerce sector is likely to impact the conveyor systems market positively. As businesses in multiple verticals invest in sortation facilities, expansion of operational capacities will contribute to rising demand, for the foreseeable future” says the FACT.MR study.
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Conveyor System Market- Key Takeaways
- On floor conveyor systems are highly popular in manufacturing and warehousing facilities owing to high levels of customizability.
- Bulk load conveyor systems are finding widespread acceptance owing to applications in mass production facilities across varied industries.
- Asia Pacific is a key market for conveyor systems, supported by the rapid growth of mining and FMCG production industries.
Conveyor System Market- Driving Factors
- The requirement for highly efficient logistics capabilities in the massive e-commerce market is a major driver behind the adoption of conveyor systems.
- Increasing incorporation of Industry 4.0 practices, with intelligent equipment will aid the sales of automated conveyor systems.
Conveyor System Market- Major Restraints
- Trade deficits and shortage of capital are key challenges for conveyor system manufacturers.
- Volatility of demand for durable goods can potentially limit the growth of the conveyor system market.
COVID-19 Impact on Conveyor System Market
The coronavirus pandemic is having a short-term negative impact on the conveyor system market, as non-essential industrial verticals have been forced to shut down operations to comply with lockdown restrictions during the outbreak. Health concerns for workers in logistics and warehousing facilities is reducing the use of conveyor systems. Consequently, automation and hygiene innovations such as UV disinfection components, will pick up traction and create lucrative opportunities for manufacturers.
Explore the global Conveyor System Market with 180 figures, 160 data tables, along with the table of contents of the report. You can also find detailed segmentation on
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Competitive Landscape
Murata Machinery, Daifuku Co. Ltd., Fives, Interroll Holding AG, Dematic Company, Beumer Group, Siemens AG, and Honeywell International Inc. are some of the prominent conveyor system market players.
Leading players in the conveyor system market invested in product differentiation strategies, and research into boosting performance and functionality of various conveyor system components, to build up their portfolios.
For instance, ScrapeTec has introduced a new contact-less conveyor belt skirting system to reduce spillage, dust, and minimize risk of explosion, while minimizing conveyor system downtime. NKE Austria GmbH has developed unique single row, deep-groove, ball bearings for belt roller conveyor systems which reduces resistance to movement and reduces maintenance requirements. Further, Martin Engineering has unveiled a belt cleaner position indicator component, which monitors, tracks, and provides reports on conveyor system service life, to aid with predictive maintenance.
About the Report
This study offers readers a comprehensive market forecast of the conveyor system market. Global, regional and country-level analysis of the top industry trends impacting the conveyor system market is covered in this FACT.MR study. The report offers insights on the conveyor system market on the basis of product (belt conveyor, roller conveyor, pallet conveyor, overhead conveyor, tri-planar conveyor, crescent conveyor, skid conveyor, trailer conveyor, and others), operation (manual, semi-automatic, and automatic), capacity type (unit handling and bulk handling), and end use (packaging & warehouse distribution, textile & paper, construction & mining, automotive & transportation, consumer electronics, food & beverages, and chemical & pharmaceuticals) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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About Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FACT.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the industrial goods sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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SOURCE: Fact.MR
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