Conveyor System Market to Perceive Substantial Growth During 2031

The global conveyor system market was valued at ~US$ 12.1 Bn in 2019 and is anticipated to surpass US$ 12.9 Bn during the forecast period 2024-2030. The market is slated on a course of sluggish growth at 2.9%. The manufacturing sector has witnessed a paradigm shift with the implementation of Industry 4.0 technologies across various industrial sectors. With the growing trend of automation, manufacturing units have implemented Industry 4.0 standards to reduce machine downtime, reduce labor inefficiencies, enhance production, reduce ROI (return on investment), and more importantly achieve high quality manufacturing.

The COVID-19 crisis has caused unprecedented uncertainty, leading to a major slowdown. The manufacturing of automobiles, industrial equipment and food & beverages has come to a standstill due to stringent lockdowns imposed by governments. Despite this panic buying by consumers is coaxing manufacturers to increase their warehouse space, which is expected to accelerate demand for conveyor systems.

The following insights and evaluations are worth knowing for any market participant, helping them in ascertaining the prevailing dynamics and the future trajectories of the Conveyor System Market. They are a part of the estimations of the opportunities in various segments. The additional new opportunities have turned the Conveyor System Market into a fragmented landscape with more entry-level players entering the market, thanks to low barriers for investments.

After reading the Conveyor System Market report, readers get insight into: 

• Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
• New, promising avenues in key regions
• New revenue streams for all players in emerging markets
• Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
• Demand and uptake patterns in key industries of the Conveyor System Market
• New research and development projects in new technologies in key regional markets
• Changing revenue share and size of key product segments during the forecast period 2024 to 2031
• Technologies and business models with disruptive potential 

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Regional analysis includes

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
• EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
• CIS & Russia
• Japan
• Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
• Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

Conveyor System Manufacturers’ Strategy Insights

The global conveyor systems market is highly competitive in nature. Leading players are adopting strategic acquisitions in order to maintain their position in the market. For instance, in April 2019, Daifuku Co., Ltd. completed acquisition of India-based Vega Conveyors & Automation Private Limited (“Vega”). Vega is involved in consulting, designing, manufacturing, installation, and after-sales services of conveyors and other material handling equipment in the Indian market.

Some of the prominent players in the global market are Daifuku Co., Ltd., holding more than 20% share of the market followed by Schaefer Systems International Inc. which accounts around 10-12% share of the global conveyor systems. Other leading players in the market are Interroll Holding AG, Beumer Group, Honeywell International Inc., Siemens AG, Dematic Company, Fives, and Murata Machinery.

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Some important questions that the Conveyor System Market report tries to answer exhaustively are: 

• Key strategic moves by various players in the Conveyor System Market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares
• Which strategies will enable top players in the Conveyor System Market to expand their geographic footprints
• Which new business models are expected to change the course of growth of key regional markets in near future
• Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants
• Which products segments have in recent years have seen new, lucrative application areas

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