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(Construction.IndustryNews247.Com, February 02, 2019 ) The conveyor system market study considers retail warehouse & distribution centers. Growing demand for e-commerce industry (with increases in online retail sales) is one of the major drivers for the growth of conveyor system market for warehouse & distribution industry. For example, Amazon has expanded its warehousing, in terms of square feet, at a growth rate of 35% from 2007 to 2017. The growth of the e-commerce industry can also be seen in developing countries.
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The conveyor system market is projected to grow at a CAGR of 4.33% during the forecast period, to reach a market size of USD 9.9 billion by 2025 from an estimated USD 7.4 billion in 2018. The market is driven by factors such as increased demand for automation, demand for cost-efficient material handling systems , need to handle larger volumes in several industries, increasing FDI investments in developing countries, and other factors.
Asia Pacific leads the conveyor system market. The end-user industries for conveyors including automotive, airport, and food & beverage have witnessed the rapid growth of infrastructure and technological advancements. This growth has enhanced the market for conveyors in the Asia Pacific region. RoW is expected to be the fastest growing market for conveyor system due to ongoing as well as upcoming projects and increasing investments in mining and automotive industry.
The stats of conveyor system market report considers the increasing passenger traffic at airports has accentuated the need for expansion, modernization, and development of new airports. Asia has 20-23 airports planned to be completed by 2020. For instance, the Beijing Daxing International Airport (China) is currently under construction and is expected to functional by 2019. The new airport plans to have a total of 7 runways in the future to accommodate 620,000 flights and 100 million passengers each year.
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Asia Pacific region is projected to be the largest market for conveyor system by 2025. The growth can be attributed to the improving economic conditions in emerging economies such as China, India, and Thailand. The rapidly growing population in countries such as China and India has boosted the demand for industries such as food & beverage, e-commerce, and automotive, thus fueling the demand for conveyor systems in these industries.
The report provides detailed profiles of the following companies:
• Emerson (US)
• Siemens (Germany)
• Daifuku (Japan)
• Fives (France)
• Taikisha (Japan)
• Honeywell Intelligrated (US)
• Dematic (US)
• SSI Schaefer (Germany)
• Invata (US)
• Bastian (US)
The report provides country-wise industry level market for the conveyor system. Countries considered are Asia Pacific (China, India, Japan, & Rest of Asia Pacific), Europe (France, Germany, UK, & Rest of Europe), North America (US, Canada, and Mexico), and the Rest of the World (Brazil, South Africa,& RoW others).
Place the Order on “Conveyor System Market by Industry (Warehouse & Distribution, Food & Beverage – Meat, Poultry & Dairy, Automotive, Electronics, Mining, and Airport), Type (Belt, Roller, Overhead, Floor, Pallet, Crescent, Cable, Bucket) & Region - Global Forecast to 2025” at https://www.reportsnreports.com/purchase.aspx?name=281798 .
Belt conveyor is expected to hold the largest market share during the forecast period as it is used in several industries such as airport, warehouse & distribution, food & beverages, electronics, and mining. As these industries continue to witness growth, the belt conveyor is expected to see increased demand. The crescent type of conveyor is estimated to be the fastest growing market during the forecast period.
The study contains insights provided by various industry experts, ranging from conveyor system suppliers to retail, food & beverage, airport, and automotive industries. The break-up of the primaries is as follows:
• By Company Type – Tier-1 - 45 %, Tier-2 - 35%, and Others - 20%
• By Designation - C level - 45%, D level – 34%, others – 21%
• By Region - North America - 30%, Europe - 25%, Asia Pacific - 25%, RoW – 20%
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