As stated in an ongoing study by Future Market Insights, global conveyor systems market will observe considerable traction in few years down the line. The study reviews the global conveyor systems market and is developing accurate forecasts and market size estimations for the years to come.
In every industrial segment, automation has turned out to be a fundamental element of industrial operations. To transfer material within an industrial unit, mechanically-operated material handling equipment i.e., conveyor systems are used. With higher level of protection, they deliver swift and productive transferring. Thus, in the industrial operations, a significant amount of series is minimized because of the effectiveness of conveyance. In managing hand-operated materials, the same feature helps in minimizing the mistakes. Early commercialization of the conveyor system has been characterized by transferring of bulk materials in the industrial sector.
Conveyor systems market can mainly be classified according to end-user applications into airport, automotive, main logistics, food and beverage, and retail. In the automotive sector, Assembly line, body shop, paint shop and few other are fundamental applications of conveyor systems.; The retail sector uses these systems for cross-docking, sorting and distribution and warehousing. Conveyor systems are an essential part of airport facilities for baggage handling, as well.; In airport facilities, utilization of the conveyor system is possible to expand because of growing air traffic around the world, and the growth of new airport locations.; To enhance production rates, the growing demand for food and beverages is propelling the adoption of conveyor systems.
According to their design modification, conveyor systems can be classified as pallet conveyor, belt conveyor, roller conveyor, overhead conveyor, crescent conveyor, and others. Manufacturers in the global market for conveyor systems are supplying highly customized products to cater to design modifications and the convenience of end-use.
The two prime driving factors of global conveyor systems market are growing demand for profitable material handling systems along with proliferation of automation in the industrial sector. It is anticipated that, global conveyor systems market will observe a steady CAGR of about 3% – 4% for the period of 2014 – 2020.
In APAC conveyor systems market, the growing automotive, retail, and food & beverage industries are also probable to stimulate the development. Due to lucrative distribution networks and a large supply chains, Europe is at the forefront the overall conveyor systems market currently. Europe is expected to hold dominance over the global conveyor systems market over the forecast period. In the emerging economies such as Mexico and Brazil where the industrial sector is flourishing, Latin America region is predicted to be the fastest growing conveyor systems market. Increased complexities associated with conveyor systems and the advanced technologies used in their manufacturing are prominent trends observed in this market.
Some prominent companies partaking in global conveyor systems market are Allied Conveyor Systems, Caterpillar, Daifuku, Dematic Group, Dorner Conveyors, Dynamic Conveyors, Emerson Electric, Fives Group, FMC Technologies, Interroll and Intelligerated, and Siemens AG. Development of patented products coupled with considerable design modifications are observed as prominent strategies for manufacturers of conveyor systems. Moreover, acquisitions and strategic alliances to collaborate with respect to technologies are also being witnessed in the global conveyor system market.
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