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Conveyor System Market worth 8.87 Billion USD by 2021
The report "Conveyor System Market by Industry (Retail, Food & Beverage – Meat, Poultry & Dairy, Automotive, and Airport), Type (Overhead, Floor, Roller, Pallet, Crescent, Belt), Belt Type (Light, Medium, and Heavy Weight Belt), and Region - Global Forecast to 2021", The conveyor system market is projected to grow at a CAGR of 9.04%, to reach a market size of USD 8.87 Billion by 2021. The market is primarily driven by the rising necessity to handle larger volumes of materials leading to an increasing requirement for efficiency.
Browse 94 market data tables and 78 figures spread through 186 pages and in-depth TOC on “Conveyor System Market by Industry (Retail, Food & Beverage – Meat, Poultry & Dairy, Automotive, and Airport), Type (Overhead, Floor, Roller, Pallet, Crescent, Belt), Belt Type (Light, Medium, and Heavy Weight Belt), and Region - Global Forecast to 2021”
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“Belt conveyors would be the largest segment of the market for conveyor systems used in the retail industry”
The belt conveyor type is expected to dominate the retail industry conveyor system market. Belt conveyors are made of one or more layers of material and run in an endless loop. They are easy to maintain and are suitable for linear running. Power belt conveyor types are being used in certain retail industries as they help to increase productivity, easily integrate with the company’s existing automation system and work efficiently.
“Airports to be the fastest growing segment in the conveyor system market, by industry”
The airport segment is projected to grow at the highest CAGR during the forecast period. The demand for conveyor systems in the airport industry is influenced by the increase in the number of terminal expansions, growing number of airports, rise in passenger traffic, and increasing necessity of efficient baggage transportation. People now prefer travelling by air to save time, thus, increasing passenger traffic at airports. Asia-Oceania is expected to be the largest market for conveyor system application in airports due to the increased passenger traffic in countries such as China, and India.
“Asia-Oceania to grow at the highest CAGR during the forecast period”
Asia-Oceania is estimated to dominate the conveyor system market, and is projected to grow at the highest CAGR during the forecast period. The growth in Asia-Oceania is attributed to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. Factors such as reduced human effort, increased efficiency, and decreased product loss, are driving the demand for conveyor systems. For countries like India and Japan, the consumption pattern of the people is changing. The rising middle class population has meant that the need for conveyor systems are increasing in order to cater to these consumers.
The conveyor system market is dominated by a few global players, and comprises several regional players. Some of the key manufacturers operating in the market are Siemens AG (Germany), Emerson Electric Co. (U.S.), Daifuku Co. Ltd. (Japan), Vanderlande Industries B.V. (The Netherlands), and Fives (France).
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