Conveyor System Market

Market Leader - Conveyor System Market

The global conveyor system market size is projected to reach USD 10.6 billion by 2025, from an estimated value of USD 8.8 billion in 2020, at a CAGR of 3.9%. 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.

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

Daifuku Co., Ltd. is the leading player in the market majorly because it generates the highest conveyor system revenue of all market players. It focuses on organic as well as inorganic growth strategies. In February 2020, Daifuku’s Airport Technologies business, which has a high baggage handling market share, supplied Japan Airlines Co., Ltd. with Self Baggage Drops (SBDs) that were collaboratively developed with the company. Increasingly adopted at airports around the world, SBDs enable passengers to check-in their own baggage by following on-screen instructions, which greatly reduces queuing time compared to conventional manned check-in counters.

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Siemens Logistics is another leading player because of its diversified conveyor system portfolio. The company developed new products and reported multiple inorganic growth strategies for conveyor system in the period, 2018–2020. For example, in September 2020, Siemens Logistics introduced the world’s first Misplaced Item Clearer (MIC) for cross-belt sorters in parcel sorting centers. The device uses sensors to detect small size and low weight items that are accidentally positioned between cross-belts. MIC automatically removes them using compressed air and moves them into an outlet. Thus, consignments can be processed immediately without interrupting sorter operations. With MIC, express distribution centers at airports can easily adhere to small time windows during which parcels need to be processed and distributed to connecting flights.

Related Reports:

Conveyor System Market by Industry (Retail & Distribution, Food & Beverage, Automotive, Electronic, Mining, & Airport), Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket, Others) Component, Operation, & Region – Global Forecast to 2025

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Report Code
AT 4933
RI Published ON
1/7/2021
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