Conveyor Systems Market to Experience Growth at 4.8% CAGR during 2022-2029; Factors such as Integration of Smart & Innovative Technologies to Aid Growth

The global conveyor systems market size reached USD 5.42 billion in 2021. The market value is estimated to increase from USD 5.60 billion in 2022 to USD 7.76 billion in 2029 at a CAGR of 4.8% in 2022-2029. This information is published by Fortune Business Insights™, in its report, titled, “Conveyor Systems Market Size, Share & COVID-19 Impact Analysis, By Type (Roller, Flat Belt, Wheel, Vertical Conveyors and Others), By Location (In-floor, On-floor and Overhead), By Load (Unit & Bulk Load), By Application (Food & Beverages, Pharmaceuticals, Supply chain & Logistics, Manufacturing, Mining and Others) and Regional Forecast, 2022-2029”

Shutdown of Manufacturing Sector during COVID-19 Pandemic to Limit Growth

The ongoing pandemic has resulted in a downward growth rate for the sector of conveyor systems due to imposed lockdowns and shutting down of the manufacturing sector at the initial stages of COVID-19. Irregular shutdown of world economies led to a fragmented workforce and players operating with a less-than-optimal capacity. This further created delays in upcoming projects, triggering a decrease in market share during the forecast period.

However, the market is expected to pave the way for a revival due to rising demand from various sectors including electronic/electrical and food & beverage. However, as the pandemic looms on, conveyor systems are expected to return to pre-pandemic levels as the market will present lucrative opportunities for investments. Manufacturers were positively dealing by introducing new automated systems and partnering with regional companies to expand market presence thus, minimizing the COVID-19 impact on the financial aspects.

FMH Conveyors Introduce LITESORT for Fluid Loading & Unloading

FMH Conveyors announced launching LITESORT, an automated sortation system that is expected to increase efficiency for a wide range of applications. LITESORT is designed to create efficient supply chains by eliminating labor-intensive steps that often time results in errors.

LITESORT intends to tackle sorting solutions by encompassing a modular, easy-to-set-up light automated structure that contains an integrated scanning tunnel, which is further customizable. Additionally, the modular structure will contain foldable wings that will allow for faster loading and unloading. The foldable wings come with multiple widths to accommodate packages of all sizes.

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https://www.fortunebusinessinsights.com/industry-reports/conveyor-systems-market-101116

Rising E-commerce Dominance & Increasing Prevalence of Industry 4.0 to Fuel Market Growth

Factors such as increasing requirement of handling larger volumes of goods in manufacturing & warehousing sector along with requirements of lowering costs & production time will boost the conveyor systems market growth during the forecast period. Integration of smart & innovative technologies including RFIDs & barcodes and increasing awareness regarding speed & accuracy will increase the footprint of the market.

An expanding e-commerce sector and rising industry 4.0 prospects are transforming supply chains, triggering an increase in the market volume during the forecast. Also, rising demand for intelligent mechanical handling equipment fueling automation solutions will fuel the growth of the market.

Industry Development:

• December 2020: Amazon.com announced plans that they were establishing two fulfilment centers in San Antonio. This development will create opportunities for installing conveyor systems. The two fulfilment centers will span over 750,000 square-foot robotic infrastructure and is expected to be launched by 2022.  

List of Players in the Market:

• Dürr Group (Germany)
• ATS Automation Tooling Systems Inc. (Canada)
• Daifuku Co., Ltd. (Japan)
• viastore SYSTEMS GmbH (Germany)
• TOYOTA INDUSTRIES CORPORATION (Japan)
• FlexLink (Sweden)
• KION GROUP AG (Germany)
• ERIKS North America, Inc (U.S.)
• Taikisha Ltd. (Japan)
• Conveyor Systems Ltd (England)  

Further Report Findings:

• Flat bed conveyors are expected to hold the largest market share in terms of segmental analysis due to the ability to ferry products in an endless and continuous manner. Additionally, these belts are often manufactured from a variety of materials including, rubbers, plastics, fabrics, metal & leather and can be used for transporting a wide variety of loads.
• The Asia Pacific will occupy the largest conveyor systems market share during the forecast period due to increasing demand from FMCG, automobile, & mining along with rising demand for automation solutions from the manufacturing sector. Also, bulk material handling and storage systems facilitating larger volumes of data, will trigger a larger market growth in the region.

Table of Segmentation: