"Catapult Your Business to Fore, Gain Competitive Advantage "
The global conveyor systems market size which was valued at US$ 5,008.4 Mn in 2018 is projected to reach US$ 7,169.0 Mn by 2026, exhibiting a CAGR of 4.6% during the forecast period (2019 – 2026)
The global market is driven by handling the larger volume in the manufacturing & warehousing industries, as conveyor systems constitute a significant part of material handling systems. Conveyor systems are essential for continuous transport of items from one area to another in many commercial and industrial facilities, as it helps to reduce overall production time along with total labor costs significantly. Therefore, manufacturers in the global market are focusing on full automation of the material handling and movement in the conveyor systems industry to make the manufacturing process more smooth and continuous.
A market trend for conveyor systems was observed when Mr. Henry Ford launched his conveyor system in the market to maximize efficiency and save cost. Since then, the conveyor system has become a permanent foundation for mass- production, distribution of products, material handling in the industry. Furthermore, smart and innovative technologies are being incorporated in the conveyor system like the use of RFID and barcode technologies that facilitate in-line scanning as well as dimensioning are expanding the conveyor systems market growth. Also, these systems are integrated with automated printing and labeling stations, streamlining both processes into a continuous and systematic order in addition to the manufacturing processes.
In contradiction, conveyor systems are relatively complex in their design and construction owing to their large scales and integration into different factory processes. Nonetheless, the use cases of the systems with its advantages have made it voluntarily acceptable in the market. Besides, conveyor systems have benefited the industries by providing reduced damage while production, increased speed & accuracy of throughput & automated, adaptable, and modular platform.
Get comprehensive study about this report by, request a free sample copy
"E-commerce and Industry 4.0 are driving today’s Material Handling boom"
E-commerce and industry 4.0 are transforming traditional supply chains, compelling the companies to change the way they move, track, and store material by using technology & automation, creating the need for conveyor systems. Manufacturers, wholesalers, retailers, and logistics companies are establishing fulfillment centers and utilizing all available warehouse space, which aids the global market rise. For instance, Industrial Kinetics is supplying a pair of a dual strand in-floor vehicle slat conveyors for a large vehicle manufacturer which will convey around 385 tons of vehicles, 250 tons of conveyor chains, and about 635 tons of materials. The conveyor systems market demand is because of the need for automating the complete manufacturing process.
To get details on market share, speak to our analyst
The global market is divided into four segments, i.e., by type, by location, by load & by the application. The segmentations provide an overall understanding of the global market structure. By type, flat belt conveyors have the highest share in the conveyor systems market. Flat belt conveyors are endless continuous belts that are being used to convey products or materials. These flat belt conveyors are made from various materials such as rubbers, plastics, fabric, metal & leather. These conveyors are used to convey different types of products via different belt types such as heavier loads require thicker & stronger belt. Other than flat belt conveyors roller conveyors also have substantial market share. Roller conveyor systems are of two kinds; gravity controlled & powered roller conveyors. Gravity controlled rollers are used to move products manually when placed horizontally whereas powered roller conveyors help to move materials using belts or rollers. Both the types of conveyor systems are used to move the products in a straight or curved structure based on the application in the industry.
By location, conveyor systems are segmented into three types that are in-floor, on-floor & overhead conveyors. Overhead conveyors are mounted on ceilings that use chains, cables, trolleys or similar connections to move products from one place to another. Overhead conveyor systems are used in the industries where products are required to be hanged such as paint lines, part handling systems, dry cleaning garment lines, or for cooling/ cleaning job in the assembly line. There are many types of overhead conveyors; electric track, monorail, trolley, etc. Mostly theses conveyors are powered and controlled or moved manually depending upon its application.
Conveyor systems are also classified by the types of loads that they convey like unit load & bulk load. These loads are carried depending on the material and physical state that is whether it is in solid-state, liquid, or gas with their packaging type. Unit loads are carried as a single item or multiple items that are organized so that they can be conveyed without disturbing their integrity.
Furthermore, conveyor systems are segmented by their applications in different industries such as food & beverages, pharmaceuticals, supply chain & logistics, manufacturing, mining & others. Conveyor systems share a significant part of the material handling process in the industries as it is involved in every industrial step. Additionally, increasing automation with a reduction in overall cost is the primary reason behind the continuous increase in the adoption of conveyors in all the industries, which augurs well for the conveyor systems market. Among the end-use industries supply chain & logistics industry is expected to exhibit the highest growth rate for the forecast period. Moreover, the variety in the application of the conveyor system is adopted by manufacturing industries such as automotive, retail, food & beverages, pharmaceuticals and other applications such as public infrastructure like an airport, etc. which are among the major driving factors for the global market.
Aisa-Pacific is expected to exhibit the highest CAGR in the global market for the forecast period. The growth in this region is anticipated to increase with the development in the end-use industries such as FMCG, automobile, airport & mining. India & China are the major contributors to the growth in the region and the global market ultimately, where China is home to numerous global, accompanied by provincial automotive manufacturers, for example, BYD Automotive, Geely, Dongfeng, Volkswagen, Ford Motor Co., and others. Furthermore, bulk material handling & storage systems are facilitating the management of large volumes of data, thereby reducing the unnecessary time consumption fueling the regional growth of the global market in the region.
The European market is valued at US$ 924.3 Mn in 2018, thereby emerging as a promising region for the global market. The region is witnessing growth with the adoption of automation in the manufacturing units along with increasing penetration of advanced technologies, such as IoT, RFID, and AI. Rising labor cost, along with infrastructure limitation, is expected to drive the conveyor systems market growth in the region.
Conveyor Systems Market Segments
To get geographical overview of this market, request a free sample copy
The Middle East & Africa is also expected to have a moderate growth rate during the forecast period. The growth is owing to the increasing adoption of the conveyor systems in the warehouse & manufacturing facilities. This, coupled with the rising labor cost, is driving the market for conveyor systems in this region. These factors compel manufacturers to use sophisticated machinery and ensure high throughput quality in lesser time.
"The conveyor systems consist of several well-established brands such as Daifuku Co., Ltd., Bastian Solutions, Dematic, Interroll Group, Durr along with several regional players."
The established players in the conveyor systems market are aiming for the digital transformation by concentrating a significant part of the research and development budget on digital solutions for production. For instance, Durr, a company that provides automation & digitization/Industry 4.0. has built up a complete infrastructure for digital business at an early stage. Its backbone is formed by the ADAMOS platform for the Industrial Internet of Things (IIoT). It is comparable to the operating system of a computer and collects large volumes of production data. On the basis of ADAMOS, the company offers machinery operating with digital services and apps that allow them to optimize their production.
Moreover, the market appears to be extremely competitive and fragmented. International players are seen gradually intensifying their presence in the developing economies, making it tough for regional sellers to compete with them, especially in terms of quality, and price point. The global market is observing the increased competition, which is anticipated to surge further during the forecast period.
"With the increasing demand for cost-effective material handling systems & automation in the supply chain logistics management, material handling, and movement from the warehouses & manufacturers have a substantial impact on the conveyor systems industry revenue."
The report provides quantitative & qualitative insights into the global market and a thorough study of market growth rate & size for all likely segments in the market. The market has been segmented by type, location, load, application, and geography. By type, the market is classified into roller conveyors, flat belt conveyors, wheel conveyors, vertical conveyors & others. Based on the location, the global market is segmented into In-floor conveyors, on-floor conveyors & overhead. By Load, the market is segmented into unit load & bulk load. By application, the global market is segmented into food & beverages, pharmaceuticals, supply chain & logistics, manufacturing, mining & others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. These regions are further classified into countries.
To get information on various segments, share your queries with us
Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape pertaining to the conveyor systems market. Various key insights provided in the report are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, SWOT analysis, Porter’s Five Forces Analysis and key industry trends.
As per our (Fortune Business Insights) study, the global Conveyor Systems market is estimated at USD 5,008.4 Mn for the year 2018.
By 2026, the Conveyor Systems Market is predicted to be valued at USD 7,169.0 Mn.
The Global Conveyor Systems market projected to grow at a CAGR of 4.6%, the market will exhibit moderate growth during the forecast period (2019-2026)
Europe is expected to hold significant market share in the Conveyor Systems Market. The region is valued at USD 924.3 Mn in 2018.
Within the type segment Flat Belt Conveyor Systems is expected to be the leading segment in market during the forecast period.
E-commerce and Industry 4.0 are driving today’s Material Handling boom is expected to propel the Conveyor Systems market scenario
Daifuku Co., Ltd., Continental Conveyor, Bastian Solutions, Inc., Conveyor Systems Ltd, ATS Automation Tooling Systems Inc. & Toyota Industries Corporation are the major players in Conveyor Systems Market.
On- floor location of the Conveyor Systems is expected to drive the market because of its multi applications in the industries.
The major players in the market constitutes 62% - 72% of the market which is majorly owed to their brand name and presence in multiple regions.