Conveyor System Industry Size

The report "Conveyor System Market by Industry (Retail & Distribution, Food & Beverage, Automotive, Electronic, Mining, & Airport), Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket) Component, Operation & Region - Global Forecast to 2027" The global conveyor system market size is projected to reach USD 12.7 billion by 2027, from an estimated value of USD 9.4 billion in 2022, at a CAGR of 6.0% .Higher adoption of automation processes in various end-use industries and rising demand for handling larger volumes of goods are the driving factors that are expected to boost the conveyor system market. The constant R&D efforts by conveyor system manufacturers to modernize the industry will offer favorable opportunities for manufacturers and propel the demand for automated conveyor systems in the forecast period.

Browse 341 market data Tables and 54 Figures spread through 322 Pages and in-depth TOC on "Conveyor System Market by Industry (Retail & Distribution, Food & Beverage, Automotive, Electronic, Mining, & Airport), Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket) Component, Operation & Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/conveyor-systems-market-31314058.html

Retail & Distribution industry in Asia Pacific is estimated to drive the market from 2022 to 2027.

Asia Pacific is expected to account for a significant share of the global conveyor system market due to the increased demand for conveyors in the retail & distribution industry. Companies such as Alibaba.com and Amazon.com, Inc. are creating a high demand for conveyor systems in Asia Pacific. The regional market’s growth can also be attributed to the rising demand for automotive and mining conveyor systems in China and India. For instance, South Korea’s largest retailer Shinsegae Department Store is planning to spend 476.6 billion on opening new branches and refurbishing, which is expected to fuel the demand for material handling systems such as conveyors.

Airport industry in North America is estimated to be the significant market in 2022.

North America comprises the US, Canada, and Mexico. The US is the largest market for conveyor systems in the region. The increasing complexity in the supply chain with regard to the transportation and handling of materials in the manufacturing and mining industries has surged the adoption of conveyor systems. As most of the cities in North America have airports, aviation is a major market for conveyor systems in the region. The number of air travelers in the US is growing rapidly, which has led to the expansion of terminals. The rising development of domestic and international airports, expanding tourism industry, increasing trade proliferation of low-cost airlines, and growing population are expected to drive the growth of the conveyor system market for the airport industry in the region

Europe is projected to be the largest market.

The market in Europe is projected to be the largest by 2027. Being an early adopter, Europe witnesses’ extensive applications of conveyor systems in several industries. Conveyor system manufacturers in the region have made high investments in research and development for innovating technologies to stay competitive in the market. Germany and the UK are at the forefront of industrial research and engineering. Extensive R&D infrastructure, a highly qualified workforce, and complete industry value chain integration create an environment that enables companies to develop cutting-edge technologies. Production levels in the food, retail & distribution, automotive, and aviation industries have witnessed significant growth in Europe and are projected to increase further in the future.

Key Market Players

Daifuku Co., Ltd. (Japan), Continental AG (Germany), Siemens AG (Germany), Fives Group (France) and Metso Outotec (Finland) are expected to be the market leaders. These players have adopted strategies such as innovation, strong supply chain network, new product development, expansions, partnerships, agreements, and acquisitions to increase their share and diversify and strengthen their business networks in the conveyor system market.

Don’t miss out on business opportunities in Conveyor System Market . Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]