Evolve Business Intelligence has published a research report on the Global Conveyor System Market, 2023–2033. The global Conveyor System Market is projected to exhibit a CAGR of around 5.12% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Conveyor System Market: Dematic Group, Siemens, Swisslog Holding, Taikisha Ltd., Vanderlande Industries, TGW Logistics Group, Fives Group, Continental, Interroll Holding Ltd. And Daifuku Co. Ltd.
Market Highlights
The Global Conveyor System Market is projected to be valued at USD 12.74 Billion by 2033, recording a CAGR of around 5.12% during the forecast period. The Conveyor System Market refers to the industry that deals with the design, manufacturing, and installation of conveyor systems used to transport materials or products within various settings, such as manufacturing plants, warehouses, distribution centers, and logistics operations. Conveyor systems can include various types, such as belt conveyors, roller conveyors, chain conveyors, and pneumatic conveyors, among others.
The market dynamics are influenced by factors such as technological advancements, industry demand, and regional growth trends.
The COVID-19 pandemic had a significant impact on the Conveyor System Market. The pandemic caused significant disruptions in global supply chains, leading to delays in the procurement of raw materials and components for conveyor systems. This impacted manufacturing schedules and project timelines. During the early stages of the pandemic, many industries faced reduced demand due to shutdowns and decreased production activities. This led to a temporary decline in demand for conveyor systems, especially from sectors like automotive and manufacturing. The pandemic accelerated the trend toward automation and contactless solutions as businesses sought to reduce dependency on human labour and minimize the risk of infection. This shift boosted demand for advanced conveyor systems equipped with automation and smart technologies. With the rise of e-commerce and changes in consumer behaviour during lockdowns, there was an increased focus on logistics and warehousing solutions. This led to a surge in demand for conveyor systems designed for efficient order fulfilment and distribution.
Segmental Analysis
The global Conveyor System Market has been segmented based on Type and Verticals.
Based on Type, the Conveyor System Market is segmented into Belt, Roller, Pallet, Overhead and Others. The Belt segment is anticipated to dominate the market.
Based on Verticals, the global Conveyor System Market has been divided into Automotive, Food And Beverages, Airport, Retail and Others. The Automotive segment is anticipated to dominate the market.
More Information: https://evolvebi.com/report/conveyor-system-market-analysis
Regional Analysis
The Conveyor System Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America region has advanced manufacturing technologies, high adoption of automation, and strong logistics and e-commerce sectors. Increasing demand for smart conveyor systems with IoT and AI integration. Significant investments in warehouse automation and supply chain optimization. Europe region has robust industrial sector, emphasis on energy efficiency and sustainability, and stringent safety regulations. Growing focus on green conveyor technologies and advanced automation solutions. High demand from automotive, pharmaceuticals, and food and beverage industries. Asia-Pacific region had rapid industrialization, growth in e-commerce and logistics, and increasing manufacturing activities. Expanding infrastructure projects, rising adoption of automation in manufacturing and logistics, and increasing investments in emerging markets like China and India. Latin America region, had growing manufacturing sector and infrastructure development. Increasing investments in logistics and warehousing to support e-commerce growth. Opportunities for automation in various industries. The Middle East and Africa region has Infrastructure development, oil and gas industry growth, and increasing focus on logistics and supply chain optimization. Investments in industrial automation and modernization of existing systems. Growing demand for efficient material handling solutions.