Global Conveyor Systems Market Size, Share, Trends, Growth and Forecast 2021-2030

The global conveyor system market size is exoected to hit around USD 10.5 billion by 2030 and is expanding at a CAGR of 4.6% over forecast period 2021 to 2030. Conveyor systems, a mechanical handling equipment, has gained significant demand from industrial sector in recent past for process automation. Its ability to carry heavy and bulk material finds usage in several industries such as retail, food & beverage, automotive. Moreover, conveyer systems are customized according to the industry needs.

The growth of this market is driven by the handling of large volumes of goods in manufacturing and warehousing operations, as conveyor belt systems constitute a significant part of material handling systems. These systems are essential for continuous transport of items from one area to another in many commercial and industrial facilities as they help to reduce overall production time along with total labor costs significantly. Therefore, manufacturers in the market are focusing on full automation of the material handling and movement in industries to make manufacturing processes more efficient.

Conveyor systems are crucial component in mining processes, enabling transport of mined materials such as ores from the mine to the plant. Traditional conveyor belts and other equipment are difficult to maintain and consume more energy, resulting in frequent outages and downtime. As a result, the mining industry is increasingly integrating intelligent technologies powered by Artificial Intelligence (AI) and Internet of Things (IoT) to enhance operational efficiency. For example, implementing sensors in conveyors enables miners to monitor temperature, detect material position, and analyze vibrations, thus helping them avoid any system failure. Similarly, utilizing 3D scanners can enable exact location and size of materials being handled and moved. Thus, smart technologies are opening up new growth and expansion avenues for the market.

COVID-19 Impact

The COVID-19 outbreak has generated widespread economic distress, with many industries and markets bearing the brunt of the crisis. However, together, we can tide over these challenging times. We, at Fortune Business Insights™, aim to provide precise market intelligence through extensive and intensive research into the impact of this pandemic on various businesses.

We are taking continuous efforts to help your business sustain and grow during the COVID-19 pandemic. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

By Type Analysis

The global market is segmented on the basis of type, which is further sub-segmented into roller conveyors, flat belt conveyors, wheel conveyors, vertical conveyors, and others.

Flat belt conveyors have the largest as these are endless, continuous belts which are used to convey products or materials in a constant motion. These conveyors are made from various materials such as rubbers, plastics, fabric, metal, & leather. They are used to convey different types of products via different belt type such as heavier loads require thicker & stronger belt. Other than flat belt conveyors, roller conveyors are also expected to have substantial market share. Roller conveyors are of two kinds: gravity controlled & powered roller conveyors. Gravity controlled rollers are used to move products manually, when placed horizontally, whereas powered roller conveyors help to move materials using belts or rollers. Both types of roller conveyors are used to move products and luggage in a straight or curved structure, depending on the industry they are being deployed in. Besides, wheel conveyors, vertical conveyors, and others segments are likely to exhibit moderate growth rate during the forecast period owing to their limited applicability.

By Location Analysis

Conveyor systems are segmented into in-floor, on-floor, & overhead conveyors. Overhead conveyors are mounted on ceilings, which use chains, cables, trolleys, or similar connections to move products from one place to another. These conveyors are used in industries where products are required to be hanged such as paint lines, part handling systems, dry cleaning garment lines, or for cooling/ cleaning job in the assembly line. There are many types of overhead conveyors such as electric track, monorail, trolley, etc. Mostly, these conveyors are powered and controlled or moved manually depending upon their application. On the other hand, in-floor and on-floor are installed at the floor level. In-floor systems are installed at predetermined places and are less customizable, whereas the on-floor systems are highly customizable and have variety of types suited as per the customers’ needs. These conveyor belt systems have extensive applications at various end-use industries owing to their general application and wide acceptance for moving of goods & products. Owing to their advantages, the on-floor conveyors segment is anticipated to have the highest growth rate during the forecast period.

By Load Analysis

As per load, the market includes unit load & bulk load. These loads are carried depending on the material and its physical state, that is, whether it is in solid-state, liquid, or gas, along with its packaging type. Unit loads are carried as a single item or multiple items, which are organized so that they can be conveyed without disturbing their integrity. On the other hand, conveyor belt systems for bulk loads are installed by majority of the manufacturing industries such as food & beverage and mining among others. Thus, owing to this, the bulk load segment is expected to hold a major share of the market.

By Application Analysis

Based on application, the market is segmented into food & beverages, pharmaceuticals, supply chain & logistics, manufacturing, mining, & others. Conveyor systems constitute a vital part of the material handling process in industries as it is involved in every step of industrial processes. Additionally, increasing automation with a reduction in overall costs is the primary reason behind the continuous increase in the adoption of conveyors in all industries. Among the end-use industries, the supply chain & logistics industry is expected to exhibit the highest growth rate for the forecast period. Moreover, the variety in the application of these systems is favoring their adoption in such as automotive, retail, food & beverages, pharmaceuticals, and other applications such as public infrastructure such as airports, which are among the major driving factors for the market.

REGIONAL INSIGHTS

The global market is further categorized into 5 major regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa and Latin America. Asia Pacific is expected to exhibit the highest CAGR for the forecast period. The growth in this region is anticipated to increase with the development in the end-use industries such as FMCG, automobile, airport, & mining. India &; China are the major contributors to the market growth in this region, where China is home to manufacturing facilities of numerous global copanies, accompanied by provincial automotive manufacturers, including BYD Automotive, Geely, Dongfeng, Volkswagen, Ford Motor Co., and others. Furthermore, bulk material handling & storage systems are facilitating the management of large volumes of data, thereby reducing the unnecessary time consumption and fueling to the growth of the market in the region.

Europe & North America region is witnessing growth with the adoption of automation in the manufacturing units along with increasing penetration of advanced technologies, such as Internet of Things (IoT), Radio-frequency identification (RFIDs), and Artificial Intelligence (AI). Rising labor cost, along with infrastructure limitation, is expected to aid these regions tighten their grip on the conveyor systems market share. The Middle East & Africa and Latin America are also expected to have a moderate growth rate during the forecast period owing to the increasing adoption of the conveyor systems in the warehouse & manufacturing facilities. This, coupled with the rising labor cost, is driving the market in this region. These factors are compelling manufacturers to use sophisticated machinery and ensure high throughput quality in shorter time.

Driver

Various upcoming investments are expected in the mining industry in Latin American countries, particularly in Brazil and Chile. As mining requires handling larger volumes of goods, the conveyor system is the preferred as well as economical solution for long distances. The increasing purchasing power of consumers and economic growth in these regions are the key factors that have encouraged the growth of the manufacturing industry. Automation in manufacturing, baggage handling, food & beverage, mining, and various other industries has brought the industry closer to the zero-defect target.

Restraint

An increasingly highly competitive environment across all industries is leading to companies constantly looking for process optimization, which in turn has increased the demand for the automation of industrial facilities. The industry has witnessed various ongoing advancements in automation. These can help in meeting requirements related to material handling capacities, resulting in reduced production time, fewer chances of human error, increased safety, high production volume, and increased accuracy and repeatability. Due to such benefits, an increasing number of companies are adopting such technologies for material handling processes. According to the International Federation of Robotics (IFR), in 2020, ~2.7 million robots worked in factories around the globe. Large-scale adoption of industrial robots may impact the conveyor system market negatively. However, the impact is expected to be limited because of the high cost of automated guided vehicles.

Opportunity

The production and distribution of personal protective equipment (PPE) kits and medicines such as hydroxychloroquine (HCQ) tablets increased during the ongoing COVID-19 crisis. The supply of essentials and the manufacture of medical equipment is expected to drive the pharmaceutical and healthcare industries, and this is expected to further boost the demand for material handling. India is the world’s largest producer of HCQ tablets. In this rare scenario, the production of HCQ tablets is boosting the healthcare industry, especially in India. Recently, the Indian government started exporting HCQ tablets to 55 countries. Initially, exports were banned but granted later in view of the humanitarian aspects of COVID-19. Approximately 13 countries have already received the drug which is being supplied through commercial channels and as grants-in-aid as well. Such increased demand from the pharmaceutical and warehouse & distribution industries during the COVID-19 crisis is expected to drive the demand for conveyor systems.

Challenge

Conveyor systems have several moving parts and are, hence, prone to several minor problems that might amplify into major issues leading to complete halting of work. For instance, in the case of seized rollers, the final products may develop some minor defects leading to significant losses to the company. The more complex these systems are, the higher the chances of failure. Also, continuous breakdowns may negatively impact the life of the conveyor system. Such issues lead to a high maintenance cost, which constitutes a substantial part of the cost of ownership of a conveyor system. Several accidents have caused severe losses to companies. For example, in December 2020, a female worker was injured when her arm was caught in a conveyor belt at a plant of Tyson Foods (US). Occupational Safety and Health Administration (OSHA) is the federal agency that establishes norms and provides guidelines for every industry, including automation. It also provides warehouse safety solutions for common hazards that may occur while working with conveyor systems. Companies need to abide by the norms set by OSHA to reduce accidents and increase the safety of employees. Elimination of accidents therefore is a challenge for the conveyor system market.

The Conveyor Systems Market report provides the market size and forecast (revenue and volume) for the global market and its segments for the period from 2021 to 2030 along with the growth rate (CAGR) from 2021 to 2030, considering 2020 as base year.

The report covers all the major driving factors and key trending topics impacting the expansion of the market during the forecast period. It also highlights the restraints and opportunities expected to influence the market during the aforesaid period. Market value and size have been provided in terms of global, regional, and country level markets. The study provides a comprehensive outlook on the expansion of market during the forecast period in terms of revenue (in US$ Bn) and volume (Million units), across different geographies, including Asia Pacific, South America, North America, Europe, and Middle East & Africa (MEA).

The market has been provided in (US$ Mn/Bn) in terms of revenue and (Units) in terms of volume, as well as the CAGR (%) for the forecast period 2021 to 2030. Additionally, under the regional sections, the price trend has been incorporated to ascertain the regional impact of the same. The incremental opportunity analysis has been figured out in order to determine the most attractive segment in the coming years.

The report covers the entire overview of the market including the market dynamics such as drivers, restraints, opportunities, and trends that are predicted to leverage the existing nature and prospective status of this market. Furthermore, the several internal and external factors affecting the market are studied through the industry SWOT analysis. The competitive position of market is studied through the Porter’s Five Forces Analysis. Additionally, current indicators of diverse macro-economic factors are contextualized under key market indicators.

The report also highlights the competitive landscape of market, thereby positioning all the major players according to their geographic presence and recent key developments. The market estimates the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the growth of the market. Besides, competition matrix and market share analysis has been included under the competitive landscape to understand the top players’ contribution to the market. Each company is studied on the basis of basic information, financial highlights, revenue highlights of regional contribution and segment contribution, and product portfolio. Additionally, the company strategy and recent developments if any are also incorporated under each company profile section.

The following manufacturers are covered in this report:
Daifuku
Ssi Schaefer
Dematic Group
Bosch Rexroth
Caterpillar
Murata Machinery
Vanderlande
Mahindra Tsubaki Conveyor Systems
Fives Group
Taikisha
Swisslog
Hytrol
Buhler Group
Shuttleworth
Siemens
BEUMER Group
Eisenmann
Emerson
Flexlink
Interroll
Dorner Conveyors

Market Segmentation

By Type

Roller Conveyors

Flat Belt Conveyors

Wheel Conveyors

Vertical Conveyors

Other Conveyors

By Location

In-floor Conveyors

On-floor Conveyors

Overhead

By Load

Unit Load

Bulk Load

By Application

Food & Beverages

Pharmaceuticals

Supply chain & Logistics

Manufacturing

Mining

Others (Airports, etc.)

By Region

North America (the U.S. and Canada)

Europe (U.K., Germany, France, Italy, and Rest of Europe)

Asia Pacific (Japan, China, India, and Rest of Asia Pacific)

The Middle East & Africa (South Africa, GCC, and the Rest of the Middle East & Africa)

Latin America (Brazil, Mexico, and Rest of Latin America)