The global conveyor system market is projected to grow at a moderate compound annual growth rate (CAGR) of 5.45% during the forecast period from 2023 to 2033. The market was valued at approximately USD 6.4 billion in 2023 to USD 10.9 billion by 2033. Advances in intralogistics and a shift away from traditional supply chain activities have positively influenced the market outlook for conveyor systems.
Conveyor systems play a crucial role in the transportation segment of commercial and industrial settings. The automation of these systems has reduced production time and overall manufacturing costs. Additionally, increasing urbanization and industrialization in developing regions of Asia and the Middle East are expected to drive demand for conveyor systems.
The push for sustainability and environmental protection has led governments to implement strict regulations and encouraged various industries to adopt measures aimed at reducing their carbon footprints. This shift has also prompted many sectors to embrace a circular economy.
Traditional conveyor systems consume significant energy, particularly those that utilize outdated electric motors. Consequently, many organizations are working to develop more efficient products that can reduce energy costs and lower carbon emissions. To create energy-efficient conveyor systems, leading market players are collaborating to design optimized machine drives, advanced cooling systems, and replace conveyor belt materials with lighter, more durable alternatives. This innovation is expected to drive global market growth for conveyor systems.
As more industries adopt Industry 4.0 techniques to upgrade their conveyor systems, market opportunities are on the rise. These businesses are also responding to changing consumer preferences and investing in creating agile environments to meet these demands, which will positively impact the market in the coming years.
Companies are seeking compact, low-maintenance, and smart conveyor systems for their processing and manufacturing facilities. Rapid industrialization in developing nations and extensive research by market players aimed at creating multi-functional and flexible conveyor systems will further propel market growth in the years ahead.
Moreover, technological advancements are contributing significantly to market expansion. The integration of smart sensors and advanced communication systems with automated conveyor systems, as well as the development of quieter and more efficient motors and controllers, will enhance market growth in the near future.
Key Takeaways from the Market Study:
- Industry 4.0 and circular economy to enhance market prospects.
- Market growth in Europe will be led by conveyor system market in Germany.
- North America is predicted to display significant market growth over the forecast period.
- Advancing food processing activities to drive the market in China.
- Rising e-commerce and expanding warehousing to drive market demand in India.
- Belt type conveyor systems to observe significant growth over the assessment period.
- Automated conveyor systems are gaining traction in the market.
- By application, automotive and transportation industry to dominate the market.
Competitive Landscape:
Daifuku, Beumer Group, Interroll Holding AG, Murata Machinery, Schaefer Systems International and Durr group are some of the major players in the conveyor system market that are profiled in the full version of the report.
With the presence of both regional and multinational market players, the conveyor system is a fragmented market. The major market players engage in collaborations and partnerships with multiple end-users to gain a competitive advantage.
Key Players in the Conveyor Dryer Market:
- BBC Industries, Inc.
- Ryonet
- ROQ International
- Anatol
- Adelco
- Ranar
- VastEx
- MHM company
- Brown Manufacturing Group, Inc.
- Bühler Group
Key Segments of Conveyor Dryer Market Survey:
By Type:
- Roller Conveyor Dryers
- Conveyor Belt Dryers
- Infrared Conveyor Dryer
- UV Conveyor Dryer
- Radio Frequency Conveyor Dryer
By Application:
- Paper and Pulp
- Textile and Fashion
- Printing
- Food Processing
- Pharmaceuticals
- Electronics
- Other Applications
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/global-conveyor-systems-market
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