Global Conveyor Market - Growth, Trends and Forecast (2018 - 2023)
With the world of intralogistics changing significantly, business processes and supply chains are becoming increasingly complex. Simultaneously, competitive pressure is mounting up between national economies. In order to develop their market position in the face of the increasingly tough competition, manufacturers are organizing their processes by employing automated conveyor systems in their production line. With their increasing efficiency, conveyors are known as a piece of equipment that moves material from one place to another, which are useful while transporting heavy or bulky material. With the industry increasingly depending on automation, conveyors are going to be an essential part of automatic warehouses over the forecast period.
Drive to Reduce Wasteful Processes
Companies are becoming increasingly aware of the need to eliminate non-value-added activities in their production process. They are increasingly adopting automated systems to boost productivity by reducing wasted motion through manual transportation activity and slashing labor costs. Conveyor manufacturers are also coming of age and are offering a myriad of technologies that can cater to the specific needs of different customers. A lot of idle time (time elapsed between two consequent sub-processes) is eliminated by using conveyors to carry product from sub-assembly feeder lines to an inspection station.
Belt Conveyor Segment expected to have the largest Market Share
Belt conveyors are mainly used to transport solid materials in powdered form or in bulk. Their main application lies in connecting assembly lines to the final inspection and packing lines. Belt conveyors are the most widely used type because of their versatility and cost-effectiveness. The growing demand from power, mining, and manufacturing industries is considered to be one of the major growth drivers for the belt conveyors segment. The decreasing adoption of belt conveyors used in the mining end-user industry are expected to recover during the forecast period.
Asia-Pacific to lead the demand for Conveyors in the Global Market
The conveyor market in the Asia-Pacific (APAC) region is projected to grow due to the increase in demand driven by the retail, automotive, and food & beverage industries. The automated conveyors market demand is expected to continuously fluctuate due to change in demographics, consumer behavior, seasonal fluctuations, and government regulations that affect the end-user industries. Industries are optimizing the utilization of store space, and to stay profitable, are adopting automated warehousing and distribution solutions. The automated conveyor systems are a necessity for efficient and seamless distribution, warehousing, sorting, and cross-docking. Further, growth in shopping through online mode, in Asia-Pacific, has created a conducive market environment for this product.
Major Players: DORNER MFG. CORP., FLEXLINK SYSTEMS, INC., BASTIAN SOLUTION, SSI SCHAEFER SYSTEMS INTERNATIONAL DWC LLC, INTERROLL HOLDING GMBH, VANDERLANDE INDUSTRIES B.V, MURATA MACHINERY, LTD., SWISSLOG HOLDING AG, BEUMER GROUP GMBH, TGW SYSTEMS INC., INTELLIGRATED INC., amongst others.
Key Developments in the Market
January 2018 – FlexLink AB acquired SSS-Fördertechnik AG, SSS-Fördertechnik AG will become part of FlexLink under the name of FlexLink Switzerland GmbH. The new operating unit is concentrated for sales in Switzerland and Lichtenstein
January 2016 – BEUMER Group won contract to extend the baggage handling system at Helsinki Airport’s Terminal 2
Reasons to Purchase this Report
Impact of rising Demand for Handling Larger Volumes and the rapid growth of e-commerce on conveyor market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Growth of various products, such as belt, roller, pallet, overhead conveyors.
Regional analysis of the market
Identify the latest developments, market shares, and strategies employed by the major market players.
3-month analyst supports, along with the Market Estimate sheet in excel
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