Conveyor System Market to Exhibit 3.5% CAGR; Market Valuation to Reach 6312.5 Mn by 2025 - TMR

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Aug 27, 2019, 03:30 ET

ALBANY, New York, Aug. 27, 2019 /PRNewswire/ -- Transparency Market Research has recently published a new research report that gives detailed insights about the intricate workings of the global conveyor system market. According to the research report, the global conveyor systems market was initially valued at US$4.697.1 mn in 2016. The market is projected to grow at a steady pace during the given forecast period of 2017 to 2025 with a CAGR of 3.5%. With this rate, the conveyor system market will reach a valuation of US$6312.5 mn by the end of 2025.

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Leading Players Concentrate on Cost Reduction without Compromising on Product Durability and Quality

According to the research report, the global conveyor system market is dominated by a handful of big-name players. The competition among the companies is considerably intense. Majority of these companies are concentrating on improving the quality and the durability of the products to gain a competitive advantage over their rivals. The players are also concentrating on cutting down the cost of production with an objective of generating more sales and thus higher profits in the coming years. In addition to this, aggressive marketing strategies such as takeovers and mergers are also becoming a key part of overall growth strategies deployed by the leading companies.

Around 50% of the share of the global conveyor system market is accounted for by the few leading companies. The competition in the market is expected to intensify in the coming years due to the entry of several local players who will be striving to make more profits. Some of the key players in the global conveyor system market include names such as Schaefer Systems International Inc., Dematic Group, Daifuku Co. Ltd., and Murata Machinery Ltd. among others.

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From a geographical point of view, the global conveyor system market is divided into five key regions viz. Europe, the Middle East and Africa, Asia Pacific, Latin America, and North America. Currently, the global market is dominated by the Europe region. However, according to the research report, the Asia Pacific conveyor system market will exhibit an outstanding growth rate over the course of the forecast period.

In terms of the type of conveyor systems, the global market is projected to be led by the belt type conveyor systems. This is because of its growing application in different industries such as packaging, pharmaceutical, and food and beverages.

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Expansion of Airports to Accommodate and Serve Increasing number of Passengers Drives Market Growth

There are several factors that are exerting a tangible influence to drive the growth of the global conveyor system market. These belts are mainly used for moving products and goods across the production process. While handling such huge volumes of goods and products, laborers may struggle in moving them from place to place. Conveyor systems become important for transportation of goods in the manufacturing facilities. Also, they help in maintaining a safer work environment. These factors are thus driving the growth of the global conveyor system market.

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Another key end-use vertical is the airports. Day by day the footfall in the airports across the globe is increasing. This has enforced the governments to expand airports to accommodate and serve the growing number of travelers. This has also helped in increasing installations of conveyor systems to enhance the baggage collection speed for the arriving travelers. This is also a key factor in driving the growth of the global conveyor systems market.

The study presented here is based on a Transparency Market Research report titled "Conveyor System Market (Conveyor Type - Roller Conveyor, Belt Conveyor, Pallet Conveyor, and Over-head Conveyor; End User - Food Processing, Automotive, Retail Sector, Airport, and Healthcare; Distribution Channel - Online Distribution Channel and Direct Distribution Channel) - Global Industry Analysis, Trend, Size, Share and Forecast 2017 – 2025."

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The global conveyor systems market is segmented as:

Conveyor Type

Roller Conveyor

Online Distribution Channel
Direct Distribution Channel

Belt Conveyor

Online Distribution Channel
Direct Distribution Channel

Pallet Conveyor

Online Distribution Channel
Direct Distribution Channel

Over-head Conveyor

Online Distribution Channel
Direct Distribution Channel

Others

Online Distribution Channel
Direct Distribution Channel

End User

Food Processing
Automotive
Retail Sector
Airport
Healthcare
Others

Distribution Channel

Online Distribution Channel
Direct Distribution Channel

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