According to FMI, the Conveyors and Belt Loaders Market will be worth US$ 9.9 billion in 2023 and will increase at a 6.1% CAGR from 2023 to 2033.
Conveyor systems market is influenced by various factors such as industrial expansion, modernization and technological advancement. Conveyor systems play an important role by minimizing the production cycle time. Earlier, limited conveyor belt types were available, but with the advancement of technology and change in demand, the conveyor systems market has drastically transformed.
Automation has become an integral part of every industries for which conveyor systems are used. Conveyor systems are mechanical equipment, which find applications in various industries such as automotive, retail, airport and food & beverages. Whether it is an existing structure or new manufacturing facility, ramping up production without planning can lead to work place congestion.
Earlier, belt and roller conveyor systems generated significant demand, but with change in industry demand and requirement of high efficiency, better customized conveyor systems are launched in the market. Now a days, companies manufacture combination of conveyor systems, which is then integrated to a single conveyor system. Many manufacturers are upgrading their facilities with advanced conveyor system technologies in order to increase their efficiency.
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Belt loaders/conveyors are the most commonly used conveyor systems. Belt conveyors can handle loads of any size and shape over a moving platform for production and process work. Belt conveyors are less expensive power conveyors. Belt conveyors are of various types according to their application such as slider bed and roller bed. These belt conveyors help to improve productivity and efficiency of facility.
Additionally, the growing demand from industries such as manufacturing, power and mining will increase the demand for belt conveyors. Owing to high competition, these industries depend on efficient techniques to maintain their production costs. With the help of conveyor systems, manufacturers are able to reduce their inventory level, thereby reducing costs.
At present, many manufacturing sites are equipped with conveyor systems. The expansion of baggage handling (airport), automotive, retail sector and food & beverages industry have spurred the demand for conveyor system. A large number of food processing and automotive plants are expanding their manufacturing sites and establishing new as well. Similarly, many domestic and international airports have increased their passenger and baggage handling capacity. Also, now days the retail sector has become much more organized. Therefore, these factors altogether increase the demand for conveyor systems.
Conveyors and Belt Loaders: Dynamics
The adoption of lean manufacturing and just-in-time delivery worldwide act as primary factors that drive demand of conveyor systems. Also, rise in demand for automation and increase in number of industries will spur the demand of conveyor systems. However, high initial investments and lack of flexibility are restraining the growth of conveyors and belt loaders market.
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Conveyors and Belt Loaders: Segmentation
Conveyor systems market is segmented on the basis of their type into: belt conveyors, roller conveyors, pallet conveyors, overhead conveyors, floor conveyors, crescent conveyors, tri-planar conveyors and others.
Also, global conveyor system market is segmented on the basis of their application as: airport, mining, retail, food & beverages and others. Additionally, the belt type conveyor can further be segmented on the basis of weight they could carry. Therefore, the global conveyor systems (for belt conveyor) is segmented by weight as: lightweight conveyor belt, medium-weight conveyor belt and heavyweight conveyor belt. With the availability of equipment, labour and cost efficient raw materials, the demand for medium-weight conveyor belts has increased significantly. Also, the growing manufacturing activities and increase in demand for manufactured goods will contribute to the growth of medium weight conveyor belts.
Conveyor belts can be made from different materials such as industrial fabrics, rubber compounds, impregnating compositions or steel rope.
Conveyors and Belt Loaders: Market Participants
Examples of some of the market participants in the global conveyors and belt loaders market identified across the value chain include:
- Swisslog Ag
- Dematic Group
- Intelligrated Inc.
- Daifuku Co., Ltd
- Fives Group
- Interroll Holding Ag
- Ssi Schaefer
- Vanderlande Industries
- Taikisha Ltd.
- Siemen Ag
- Emerson Electric Co.
- Tgw Logistics Group GmbH
Key segments profiled in the Conveyors and Belt Loaders Market
By Type, the Conveyors and Belt Loaders Market is segmented as follows:
- Belt conveyors
- Roller conveyors
- Pallet conveyors
- Overhead conveyors
- Floor conveyors
- Crescent conveyors
- Tri-planar conveyors
- Others
By Application, the Conveyors and Belt Loaders Market is segmented as follows:
- Packaging & Warehouse Distribution
- Textile & Paper
- Construction & Mining
- Automotive & Transportation
- Consumer Electronics
- Food & Beverage
- Chemical & Pharmaceutical
By Region, the Conveyors and Belt Loaders Market is segmented as:
- North America
- Latin America
- East Asia
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- South Asia & Pacific
- Middle East and Africa
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