Conveyor System Market is anticipated to expand at a Strong CAGR of 4.5% by the end of 2031

The conveyor system market grew steadily in 2021, with global revenues increasing 3.5% year on year. The conveyor system market is expected to reach US$13.7 billion in 2021, at a CAGR of 4.5%, due to increased mergers and acquisitions by Tier-1 companies and the integration of machine learning and the internet of things in material handling solutions, according to FMI.

Conveyor systems are in high demand in the mining industry. Large amounts of heavy goods and debris must be transported and handled in the mining industry. Because of their low cost and low maintenance, conveyor systems are an excellent choice for long-distance transportation.

Rising per capita income and rapid economic growth in developing countries such as India and Brazil are driving the manufacturing industry. This, along with automation in the fast-moving consumer goods (FMCG), baggage handling, and manufacturing industries, will boost market growth over the forecast period.

Request a Sample Copy of this Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-48

Conveyor systems that are automated eliminate human error, improve safety, and increase production volume with high repeatability. Because of these advantages, businesses are implementing modern conveyor systems for material handling processes.

The rise in online retailing activity, combined with rising demand for high-quality goods, will drive the retail industry’s adoption of conveyor and sortation systems. Conveyor systems are being installed by businesses to optimise warehouse spacing, sorting and cross-docking products, and automating the distribution process. Increased online shopping in India, China, Brazil, and Chile will boost the market growth in the coming years.

Key Takeaways from FMI’s Conveyor system Market Study

The North American conveyor system market is forecast to expand at a 3.5% CAGR due to rapid growth in the online retail sector.

Growing adoption of automation in the automotive and manufacturing industry, surging mining and construction activities along with growing e-commerce industry in the U.K. and Germany are the key factors driving the market in Europe.

Population surge, increase in demand for processed food, and the presence of e-commerce giants like Alibaba group will drive the demand for conveyor systems in FMCG and packaging industries in China.

India is expected to offer lucrative opportunities as home to one of the leading retail sectors after the U.S. and China. Steady consumer demand and rising investment toward the expansion of retail infrastructure will boost the demand for advanced material handling systems, such as conveyor systems.

Request Report Methodology @
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-48

“Increasing penetration of automation in material handling and distribution system and increase in several supermarkets and distribution centres will boost the demand for conveyor system in upcoming years,” says the FMI analyst.

In response to the pandemic, Multi-Conveyor collaborated with East Coast representatives to develop a hand-pack conveyor system to effectively follow social distancing in the workplace and launched “Barrier Spaced Conveyor” in July 2020.

Dürr Group introduced an automated guided vehicle designed for paint shops as a part of its intelligent production initiative in May 2019.

Prominent players operating in the conveyor system market are:-

  • Daifuku
  • BEUMER GROUP
  • Interroll Holding AG
  • Murata Machinery
  • Schaefer Systems International
  • Dürr Group

For More Information or Query or Customization Before Buying, Visit @
https://www.futuremarketinsights.com/customization-available/rep-gb-48

Conveyor System Market Key Segments

By Product Type:

  • Belt Conveyor
  • Roller Conveyor
  • Pallet Conveyor
  • Overhead Conveyor
  • Tri-Planar Conveyor
  • Crescent Conveyor
  • Skid Conveyor
  • Trailer Conveyor
  • Others

By Operation Type:

  • Manual
  • Semi-Automatic
  • Automatic

By Capacity Type:

  • Unit Handling
  • Bulk Handling

By Application Type:

  • Packaging & Warehouse Distribution
  • Textile & Paper
  • Construction & Mining
  • Automotive & Transportation
  • Consumer Electronics
  • Food & Beverage
  • Chemical & Pharmaceutical

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights, Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: 
sales@futuremarketinsights.com

 

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these