Conveyor System Market Subjected to Expand to Showcase Rampant Growth by 2022
Market Synopsis:
According to Market Research Future
(MRFR), the global Conveyor System Market has been projected to scale steady
valuation at a steady CAGR over the forecast period 2016 to 2022. The system is
mechanical handling equipment used for the distribution of goods and materials.
It has paved its way across major industry verticals such as food &
beverage, automotive, retail, etc. The growth of these industries is expected
to propel the expansion of the conveyor system market in the upcoming years.
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The
drastic rise of air traffic in the aviation industry is anticipated to have a
favorable impact on the expansion of the conveyor system market across the review period. The use of conveyor
systems in food & beverage and automotive industries are likely to
accelerate revenue creation for the market players.
The online retail industry is witnessing
technological transformation which is projected to catapult the conveyor system
market on an upward trajectory for the next couple of years. On the contrary,
factors such as price volatility of raw materials and unstable environment regulations
are expected to check the expansion of the conveyor system market in the
upcoming years.
Market Segmentation:
By type, the global conveyor system
market has been segmented into belt conveyors, roller, pallet, overhead, and
others.
By application,
the conveyor system market has been segmented into automotive, retail, food
& beverages, airport and others.
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Regional Analysis:
The
global conveyor system market, by region, has been segmented into North
America, Europe, Asia Pacific, and the Rest of the World. North America is
expected to expedite the expansion of the market over the assessment period.
The U.S. is anticipated to command the lion’s share of the market across the
projection period. The region has been witnessing a boom in the end-user
industries and is likely to attract investments in the forthcoming years. This,
in turn, is presumed to augment the conveyor system market over the forecast
period.
Asia
Pacific is the fastest growing regional market. The growth of manufacturing
industries, airports, and warehouses are likely to dominate the growth
trajectory of the conveyor system market in the region through the assessment
period.
Rest
of the World signifies strong growth opportunities owing to the presence of
developing economies in Latin America. Country-level markets such as Mexico and
Brazil are prognosticated to contribute substantially towards the development
of the conveyor system market.
Competitive Dashboard:
Some
of the major players operating in the global conveyor system market are Dematic
Group, Emerson Electric, Daifuku, Siemens AG, Allied Conveyor Systems, Dorner
Conveyors, Caterpillar, Dynamic Conveyors, FMC technologies, Fives Group,
Interroll, and Intelligrated.
Industry News:
In
February 2019, Carrefour, China, has announced the testing of ceiling conveyor
systems for product deliveries so that it can accept over 3000 deliveries every
day.
In February 2019, ThyssenKrupp, a German
multinational conglomerate with a focus on steel production and industrial
engineering, has announced that it will be providing a gearless driven overland
conveyor system for one of the world’s largest copper reserves, Quellaveco
copper mine in Peru.
In February 2019, Port of Eastport in the
continental United States has revealed that the first trial of its bulk
conveyor system is expected in the spring. These tests are also likely to draw
the fate of the export deal of these conveyors to Europe.
In
February 2019, EtherCAT, an Australian manufacturer of food packaging systems,
has developed its latest tna roflo 3 horizontal conveyors, using a Beckhoff
controller for boosting system power while streamlining its architecture.
In February 2019, Desch Plantpak in
Maldon, Essex, and Virginio Nastri, developer of handling systems for the
manufacturing industry has announced the development of a new multi-layer conveyor
for product handling.
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