Pallet Conveyor System Market: Introduction
Pallet conveyor transports pallets from one point to another, typically handling every item in the same fashion with no variance. Production inefficiencies and wasteful delays are eliminated by streamlining and standardizing the movement of material. A consistent material handling routine ultimately reduces work in process and enables greater throughput.
Key Drivers of Pallet Conveyor System Market
- Pallet conveyor systems are proven to reduce costs while saving time through increasing efficiency and decreasing downtime and resources with proper configuration. Industrialization and automation of manufacturing lines in Asia Pacific are major factors driving the pallet conveyor systems market.
- Shorter delivery time is increasingly becoming important for various enterprises operating in an e-commerce space. Expansion of e-commerce is driving profound changes in the way warehouses and distribution centers operate; hence, conveyor systems are being adopted at warehouse centers in order to save time and to add efficiency in the process.
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Restrains in Pallet Conveyor System Market
One of the hardest-hit segments from COVID-19 is the manufacturing sector. The novel Coronavirus originated in China, which is home to a majority of factories that supply raw materials to several manufacturing units across the world. Measures were taken to stop the spread of the virus. The lockdown that followed brought manufacturing facilities to a standstill, derailing the entire global supply chain. This scenario has consequently effected the pallet conveyors market, as retail and logistics, Industrial, food and beverage, and other manufacturing sectors have slowed down their operations and investment plans.
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Opportunities in Pallet Conveyor System Market
- The current trade frictions in various parts of the world, especially that between the two largest economies China and the U.S., are slowing down. While an early trade agreement is widely anticipated, Asia should seek far more fundamental pathways to secure its long- term growth between the major global economies and propel trade activity, leading to expansion of the manufacturing sector. This in turn is estimated to provide significant opportunity for pallet conveyor systems.
Asia Pacific Region to Dominant the Pallet Conveyor System Market
- Asia Pacific is a major market for pallet conveyor systems, driven by the expansion of the manufacturing sector in the region. China is a manufacturing powerhouse of the world. Availability of lower-wage workers in the country, low taxes and duties, and competitive currency practices have been driving the country’s manufacturing industry. U.S.-based companies such as Apple Inc. take advantage of China’s supply chain efficiencies to keep costs low and margins high. Foxconn Technology Group has multiple suppliers and manufacturers of components that are at nearby locations. It is economically unfeasible for many companies to take components to the U.S. in order to assemble the final product; hence, they choose China. This lead to the expansion of the manufacturing sector in the country. While rapidly expanding economies in the region, such as India, have resources, policy and workforce in place. The ‘Make in India’ program and policy is India’s plan of action to encourage its domestic manufacturing sector and export products to the global market. This scenario is projected to boost the pallet conveyor system market in Asia Pacific.
Key Players Operating in Pallet Conveyor System Market
The global pallet conveyor system market is fragmented with more number of players. A few of the key players operating in the global pallet conveyor system market are:
- Daifuku Co., Ltd
- Siemens AG
- Five Group
- Emerson Electric
- Allied Conveyor Systems
- Caterpillar
- Dorner Conveyors
- Dynamic Conveyors
- FMC technologies
- Interroll and Intelligrated
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Global Pallet Conveyor System Market: Research Scope
Global Pallet Conveyor System Market, by Type
- Gravity Roller Pallet Conveyor
- Chain Driven Live Roller Pallet Conveyor
- Drag chain Pallet Conveyor
- Belt Driven Live Roller Pallet Conveyor
- Heavy Duty Slat Conveyor
- Others
Global Pallet Conveyor System Market, by Application
- Retail and Logistics
- Industrial
- Food and Beverages
- Others
Below is a snapshot of these quadrants.
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