The report presents an in-depth assessment of the Conveyors Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Conveyors investments from 2021 till 2025.
The Conveyors Market was valued at USD 7.73 billion in 2019 and is expected to reach USD 10.07 billion by 2025, at a CAGR of 4.5% over the forecast period (2020 – 2025).
Click the link to get a free Sample Copy of the Report:
The Conveyors market is highly competitive and consists of a number of major players. Top Companies like Daifuku Co. Ltd, SSI Schaefer AG, Murata Machinery Ltd, Mecalux SA, BEUMER Group GmbH & Co. KG, KNAAP AG, KUKA AG (Swisslog AG), Honeywell Intelligrated Inc., Kardex Group, Viastrore Systems GmbH, Bastian Solutions Inc.
Industry News And Developments:
– January 2020 – SSI Schaefer implemented a logistics center for Misumi — a global manufacturer and provider of mechanical components and indirect materials for special machine construction and assembly automation. Core elements of the system are an automated shuttle warehouse, a four-storied rack system, ergonomic work stations connected via a conveying system and the logistics software Wamas.
– March 2019 – Daifuku completed the acquisition of Vega Conveyors and Automation Private Limited, a prominent material-handling vendor based in India. The acquisition is expected to strengthen the company’s localization strategy. It is expected to benefit from the increasing demand for automation in the Asia-Pacific region.?
– January 2019 – BEUMER Group signed an agreement with Aruba Airport Authority N.V. for the design and installation of a USD 33 million, high-speed baggage transportation and sortation system at Aruba’s Queen Beatrix International Airport. The installation, which also includes BEUMER’s residential program for on-site operation and maintenance, is part of the airport’s Gateway 2030 expansion and modernization progam.
Scope of the Report
– The conveyor systems market is influenced by various factors, such as industrial growth, expansions, modernization of industries and product and process specific conditions. Conveyor systems help in simplifying the task of handling bulky materials. It plays a vital role in operations by reducing and minimizing the production cycle time and errors respectively.
– The spread of COVID-19 has positively affected the market studied especially in Food & Beverage and Pharmaceuticals sector, which have been deemed under essesntial services. Due to increased sales of the products under these segments, manufacturing facilities have been working round the clock to deliver the end-products, which woud not have been possible without use of conveyor belt and other machines.
Key Market Trends
Retail Segment to Witness Significant Growth
– The increasing usage of online retailing, coupled with changing consumer behavior toward goods purchasing, is likely to have a positive impact on the adoption of conveyor and sortation systems. In addition, many companies already invested in the sortation facility, are expected to increase their capacity, owing to the rising demand. For instance, UPS in September 2018, announced to expand their sortation capacity to reach over 25% increase in cross border orders by 2022.
Asia Pacific is Expected to Hold the Largest Market Share
– Many international corporations from developed countries across the globe have set up their production facilities in the APAC region, especially in developing countries such as India and China, because of the availability of cheaper factors of production (labor, raw material, and equipment). The increase in the growth of manufacturing activities has increased the adoption of conveyor systems in this region.
– Moreover, increasing spending power, improving standard of living, and higher GDP among other factors are increasing the demand for manufactured goods, which in turn is leading to the increased adoption of these automated systems. For example, the majority of belt conveyors in Indian manufacturing facilities were initially of the low-speed type, with the expansion of these facilities fueled by increased public demand for goods is leading to the increased adoption of high-speed belt conveyors.
Browse the Full report description and TOC at:
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Conveyors Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Purchase This Report @
Media Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687