The Packaging & Warehouse distribution, one of the end use sectors in the global conveyor system market is expected to witness growth of 3.5% during the forecast period. Growing demand for e-commerce is one of the main drivers for the growth of the conveyor systems market for warehousing & distribution.
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In the future, e-commerce and industry 4.0 will shift traditional supply chains by compelling companies to transform the way they store, track and move materials by using technology & automation thus creating the demand for conveyor systems.
Demand for new warehouse spaces is rising as supermarkets, pharmaceuticals companies and online retailers struggle to keep up with the demand spike amid COVID-19. To ensure inventory levels are adequate and to meet demand for groceries and supermarkets, vendors are keeping higher amounts of merchandise in stock, thus increasing the demand for warehouse space. Increasing demand for goods brought online, especially food will also fuel the need for more distribution facilities.
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Conveyer System Market Share by Region
Europe is projected to be the leader in the global conveyor system market with more than 25% market share during the forecast period. In Europe, the key driver of the conveyor system is the expansion of warehousing. Increasing opportunities from pharmaceutical and automation industries are driving the expansion of warehouse capacities in Europe. Owing to the presence of many automotive manufacturers, countries such as Germany are expanding their warehouse capacity. Europe has been a prominent adopter of industrial automation, owing to increasing investments in the Industry 4.0. Europe accounts for more than one third of the global industry 4.0 automation, according to CBI Ministry of Foreign Affairs.
The COVID-19 pandemic will influence supply chains of manufacturing, pharmaceuticals and automotive. The pandemic has also affected transportation and trade because of travel restrictions, quarantine, border control measures and disrupted production. This has disrupted the supply chain of essential raw materials and equipment used in the manufacturing sector. Due to these factors there will be a downward curve for material handling equipment such as conveyor systems, thus resulting in slow growth of the conveyor system market in European countries.
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The Conveyor System Market research answers important questions, including the following:
- Why Conveyor System Market players are focusing on the business expansion in region?
- Which regulatory authorities have granted approval to the application of Conveyor System Market
- What are the pros and cons of the Conveyor System Market the environment?
- Why players are targeting the production of segment?
- What are the strategies implemented by emerging players in the global Conveyor System Market?
The Conveyor System Market report serves the readers with the following data:
- In-depth analysis of supply-side and demand-side trends.
- Direct and indirect impacts of the growth of relevant markets on the Conveyor System
- Importance of segment in various regions.
- Accurate Y-o-Y growth of the global Conveyor System
- Consumption trends among individuals across the globe.
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