A New Study Provides Fresh Insights Into Key Trends that Will Keep the Conveyor System Market Moving Into 2025
The global market for Conveyor System is projected to reach US$9 billion by 2025, driven by the strong focus shed on automation and production efficiency in the era of smart factory and industry 4.0.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Conveyor System market. Report segmentation include Type (Overhead, Floor, Roller, Pallet, Crescent, Belt, Other Types); and Industry (Warehouse & Distribution, Food & Beverage, Automotive, Electronics, Mining, Airport).
10 June 7:47 A.M., California/Marketwire/ - According to the new market research report, the global market for Conveyor System is projected to reach US$9 billion by 2025, driven by the strong focus shed on automation and production efficiency in the era of smart factory and industry 4.0. The market is expected to decline in the year 2020 before recovering to reach a revised market size and reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Automating labor intensive operations is the starting point for automation, and as the most labor intensive process in manufacturing and warehousing, material handling is at the bottom of the automation pyramid. Defined as the movement of products and materials throughout the manufacturing process, material handling is labor intensive and expensive. Benefits of automating material handling include reduced human role in unproductive, repetitive and labor intensive tasks and the ensuing freeing up of resources for other core activities; greater throughput capability; better space utilization; increased production control; inventory control; improved stock rotation; reduced operation cost; improved worker safety; reduced losses from damage; and reduction in handling costs.
Benefiting from increased investments in factory automation are conveyor systems, the workhorse of every processing and manufacturing plant. Technology innovation remains crucial to growth in the market. Few of the noteworthy innovations include use of direct drive motors that eliminate gears and helps engineer simplified and compact models; active conveyor belt systems perfected for efficient positioning of load; smart conveyors with advanced motion control technology; development of vacuum conveyors for fragile products that need to be placed securely; backlit conveyor belts for improved assembly line productivity and lower error rate; flexible (adjustable-width) conveyors that can accommodate different shaped and sized objects; energy efficient designs with smarter motors and controllers. Object detection on a conveyor belt such as food-grade metal-detectable belt or magnetic conveyor belt is a huge revenue generating innovation targeted at the food end-use industry which helps identify metal contaminants in food as it travels along the processing stages. Among the application areas, manufacturing, processing, logistics and warehousing are major end-use markets.
Airports are emerging as a new end-use opportunity with growing passenger traffic and increased need to reduce baggage check-in time resulting in increased deployment of baggage conveying systems. Inspired by Germany's "Industry 4.0", MIC 2025 will enhance adoption of automation, digital and IoT technologies. Faced with new and changing economic forces, the Chinese government through this initiative is stepping up investments in cutting edge robotics, automation and digital IT technologies to competitively integrate into the global manufacturing chain dominated by industrialized economies such as EU, Germany and the United States and move from being a low cost competitor to a direct added-value competitor. The scenario bodes well for the adoption of conveyor systems in the country.
Key Competitors Covered in the Report
Allied Conveyor Systems Inc.
BEUMER Group GmbH & Co. KG
Daifuku Co. Ltd.
Dorner Mfg. Corp.
Dynamic Conveyor Corporation
Emerson Electric Co.
Hytrol Conveyor Co. Inc.
Mahindra Tsubaki Conveyor Systems (MTC) Pvt. Ltd.
Murata Machinery Ltd.
SSI Schaefer - Fritz Schaefer GmbH
Swisslog Holding AG
Vanderlande Industries B.V.
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 17248. Among this pool, 1723 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 343 unique participations, a total of 154 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
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Global Industry Analysts, Inc.