Conveyor System Market Exploring Future Growth 2019-2029| Opportunities & Development

Conveyor System Market to Expand at a Steady CAGR of

5.0% during 2019-2029 | Future Market Insights (FMI)

March 2020

Report Id : REP-GB-48

Published On : 07-Oct-2019

Category : Industrial Automation and Equipment

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Research Methodology (1/2)

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Conveyor System Market Analysis

The conveyor system report offers key insights into the market and projects growth for the

period of 2019-2029. The global conveyor system market was valued at ~US$ 12 Bn in 2018

and is forecasted to amplify at a CAGR of ~5% during the stipulated period of 2019-2029.

The market research report, published by Future Market Insights (FMI), on the global

conveyor system market analyzes the industry trends. The global market research study on

conveyor system projects that the belt conveyor systems will remain prominent in terms of

market value shares through 2029, whereas in terms of growth rate, the roller conveyor

systems are likely to lead the way in global conveyor system market.

The key conclusion after the assessment of the global conveyor system market is that the

market is estimated to foresee steady growth in coming years owing to the positive outlook

for packaging industry and optimistic warehouse & distribution sector growth, and the best

strategy to adopt is to concentrate resources in targeting turnkey projects. The report has

covered deep-dive insights on how the flourishing retail sector has been assisting the sales of

conveyor systems, and thereby, pushing the global market growth.



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Retail Sector to Create Sizable Opportunities

The retail sector has been the most attractive segment and investment destination for

multinational and private equites, with emerging countries estimated to be the most

lucrative markets. Favorable demographics, expanding factory automation, rising disposable

incomes, industrialization, extensive presence of players, and the entry of new companies

are the major factors influencing the growth of the market. India is expected to be the 3rd

most attractive market in the retail sector. Driven by buoyant consumer demand and

development plans of organized retail companies, the sector grew by 23% in FY2014-

FY2015. Consequently, fueling the demand for material handling systems, such as conveyor

systems, throughout the forecast period.



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End-use Industries Setting Momentum for Conveyor System Market Growth

Advancements in technologies have led end-use industries to include automation. Use of

automatic conveyor systems to test applications resulted in reduced ergonomic issues

created due to humans performing repetitive jobs. In several end-use industries, end users

often work with large heavy parts, which can be easily handled by conveyor systems.

• For instance, the electronic industry demands more precision, flexibility, and speed from a

system. Assembly applications in this industry, when carried out with conveyor systems,

can save operations cost, throughput time, and offer maximum accuracy.

• Conveyor systems serve food and agriculture, plastics and polymers, pharmaceutical and

chemistry, furniture and equipment, as well as science and research fields. Advancements

in technology and trending automation in these industries are pivotal factors for the

growth of the material handling equipment market, in turn, driving the demand for

conveyor systems.



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Conveyor System Market: Vendor Insights

The global conveyor system market is estimated to be fragmented with Tier-1 players

accounting for about one-fourth of the global market share. Manufacturers who can offer

exceptionally reliable and efficient conveyor systems in a short time can gain clear

competitive edge in the global conveyor system market. Investment in research and

development could also create opportunities for conveyor system manufacturers as chemical,

pharmaceutical, automotive, and transportation end-use industries invest significantly in

procuring material handling equipment that are technologically advanced, as factory

automation is not a benefit in these industries, instead, it has become a need.

• In May 2019, Dürr Group launched its first AGV specifically designed for paint shops as a

new solution for more intelligent production.

• In April 2018, BEUMER Group launched new generation of high-performance sorting: BG

Sorter.



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Press Release Source: https://www.globenewswire.com/news-

release/2019/10/10/1928050/0/en/Conveyor-System-Market-is-anticipated-to-grow-at-a-

CAGR-of-5-over-the-forecast-period-of-2019-to-2029-Future-Market-Insights.html

Related Press Release:

• Crane Market

• Adaptive Robot Gripper Market

• Pallet Pooling Market

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personalized in nature. FMI delivers a complete packaged solution, which combines current

market intelligence, statistical anecdotes, technology inputs, valuable growth insights and

an aerial view of the competitive framework and future market trends.



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Conveyor System Market Exploring Future Growth 2019-2029| Opportunities & Development

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