Conveyor System Market

Market Leaders - Conveyor Systems Market

The increasing demand for handling larger volumes and rising need for efficiency are driving the demand for industrial automation. Conveyor systems help in efficient transportation of materials and reduce chances of error or mishandling. These systems are used in several industries such as retail, food & beverages, mining, postal, automotive, and airports, among others. The conveyor system market is projected to grow at a CAGR of 4.33% during the forecast period, to reach USD 9.9 billion by 2025 from an estimated USD 7.4 billion in 2018.

The key strategy adopted by major players to gain traction in the market is supply contracts. For example, in October 2016, Fives was awarded a contract by Korea Express, an express courier company, to automate its new operations hub. The contract included 7 cross belt loops, 56 induction lines, installation work, and slide plates. The project, which is planned to be completed by 2018, has a sorting capacity up to 162,000 pph. Daifuku had been awarded the contract to supply the first ever Automated Storage and Retrieval System (AS/RS) in the Republic of the Union of Myanmar. Myanmar Pharmaceutical Industries had set up a Snake Anti-Venom Production Center in Yangon. Daifuku provided its AS/RS, incorporating 4 stacker cranes and 4,224 pallets, to be used for the storage of raw materials and finished products.

The second most widely followed strategy is new product developments. For example, in June 2018, Dematic announced a new advancement in product distribution with the Dematic Roller Non-Contact Accumulation (RNCA) platform. The platform provides a variety of options for product takeoff from sortation systems horizontal, decline, powered, and gravity variants offer compact and controlled singulation.

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Emerson adopted the strategies of expansion and merger & acquisition to retain its leading position in the conveyor system market. In January 2018, Emerson inaugurated a new facility in Saudi Arabia to support localized innovation. The 11,370-square-meter built area facility, which represents an Emerson investment of USD 25 million, enables the company to host Saudi students, entrepreneurs, researchers, and industry stakeholders to collaborate with Emerson’s technical experts to develop process automation technologies and design innovative products and solutions that meet the country’s goals.

Daifuku provides conveyor systems for manufacturing & distribution plants, automobile assembly systems, car washing systems, bowling equipment, and airport baggage handling. The company has a broad product portfolio that caters to several industries and has also introduced a new e-commerce business model. Daifuku adopted the strategies of supply contracts, partnerships, and acquisitions to sustain its market position. For example, in October 2018, Daifuku and Fast Retailing Group established a solid relationship of mutual trust through the automation of Fast Retailing’s Ariake warehouse.

Related Reports:

Conveyor System Market by Industry (Warehouse & Distribution, Food & Beverage – Meat, Poultry & Dairy, Automotive, Electronics, Mining, and Airport), Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket) & Region - Global Forecast to 2025

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Report Code
AT 4933
Published ON
Jan, 2019
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