Global Vibrating Conveyors Market 2019-2023
About this market
The growth of the global population and the increasing per capita income of consumers has significantly increased the demand for commodities such as consumer electronics and automobile, and consumables such as medicines and food products. The rise in disposable income is resulting in the steady graduation of the middle-class population to the urban class, which is triggering the frequency of various residential and commercial activities. Also, the expansion of cities has increased construction activities, which are driving the growth of industries such as chemical, pharmaceutical, food and beverage, and cement industries. These industries are some of the major end-users of vibrating conveyors whose growth will drive the growth of the global vibrating conveyors market at a CAGR of nearly 5% during the forecast period.
Increased demand for conveyor systems in industries
The diversified nature of the applications of conveyor systems has increased its demand in several industries. The design improvements in the newer models have eliminated the operational constraints associated with vibrating conveyors. The newer models efficiently separate magnetic and non-magnetic materials and reduce unnecessary downtimes. Many such advancements are increasing the adoption of vibrating conveyors across industries.
Scarcity of skilled workers
The adoption of modern conveyor systems such as vibrating conveyors is expected to decrease due to lack of technical expertise in the workforce. Moreover, only a few industrial players in the market are keen on developing these skills in their workforce.
For the detailed list of factors that will drive and challenge the growth of the vibrating conveyors market size during 2019-2023, view our report.
The market appears to be fragmented with several players occupying the market share. Companies such as GEA Group AG and General Kinematics Corp. have intensified competition. Factors such as the increased demand for commodities due to population growth and the rising demand for conveyor systems in industries will provide significant growth opportunities for vibrating conveyor manufacturers. GEA Group AG, General Kinematics Corp., JÖST GmbH + Co. KG, RHEWUM GmbH, and SINFONIA TECHNOLOGY Co. Ltd. are some of the major companies covered in this report.
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