Home Artificial Intelligence Conveyor Systems Market to Rise at 4.5% CAGR till 2027; Growing Demand...

Conveyor Systems Market to Rise at 4.5% CAGR till 2027; Growing Demand for Efficient Material Handling Equipment across Industries to Boost the Market: Fortune Business Insights™

0
34

Pune, Nov. 25, 2020 (GLOBE NEWSWIRE) — The global conveyor systems market size is projected to reach USD 7.43 billion by 2027, exhibiting a CAGR of 4.5% during the forecast period. Increasing incorporation of smart technologies in material handling systems in the mining industry will augment the growth of this market, states Fortune Business Insights™ in its new report, titled “Conveyor Systems Market Size, Share & Covid-19 Impact Analysis, By Type (Roller Conveyors, Flat Belt Conveyors, Wheel Conveyors, Vertical Conveyors & Others), 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) and Regional Forecast, 2020-2027”.

Click here to get the short-term and long-term impact of COVID-19 on this market.

Please visit: https://www.fortunebusinessinsights.com/industry-reports/conveyor-systems-market-101116

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.

According to the report, the market value stood at USD 5.23 billion in 2019. It also shares the following:

  • Microscopic study of all the factors driving and restraining the market;
  • In-depth analysis of the various market segments;
  • Detailed examination of the regional prospects for the market; and
  • Thorough research of the competitive landscape of the market.

Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/conveyor-systems-market-101116

Market Restraint

Retarding Growth of the Aviation Industry to Dampen Market Spirits

Conveyor systems are extensively deployed at airports for smooth movement of luggage and cargo. However, the COVID-19 pandemic has severely crippled the aviation industry owing to tight restrictions on foreign travel imposed in most countries to curb the spread of the virus. The Airports Council International (ACI) estimates that there is likely to be a 50% drop in passenger traffic in 2020, leading to a loss of more than USD 97 billion in revenues. Compounding this will be the substantial decline in tourism revenue, as predicted by the UN World Tourism Organization (UNWTO). With such massive shortfall of passenger revenue, airport authorities are postponing or even cancelling modernization plans, which are expected to hamper the conveyor systems market growth.

Regional Insights

Asia Pacific to Surge at an Impressive CAGR; North America & Europe to Display Healthy Growth

Asia Pacific’s market size stood at USD 1.74 billion in 2019, giving the region indisputable lead in the conveyor systems market share. The main growth drivers for the market in this region include rapid development of various end-use industries in India and China and the presence of strong global players in the automotive industry in China. Technological advancements in South Korea and Japan are expected to further propel the regional market.

In Europe and North America, swift automation of manufacturing units and active adoption of Industry 4.0, both fueled by rising labor costs, are primarily driving the growth of the market. In Latin America and the Middle East & Africa, moderate market growth is anticipated owing to relatively slower adoption of these systems in manufacturing facilities.

Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/conveyor-systems-market-101116

Competitive Landscape

Strategic Operational Expansion to be Key Focus Area for Market Players

One of the most prominent strategies being executed by key companies in this market is the expansion of operations in unexplored markets. In pursuit of that end, market players are partnering with regional companies, even acquiring them in some cases, to broaden their sales opportunities.

Industry Developments:

  • June 2020: US-based Bastian Solutions joined forces with the sports brand PUMA to expand its presence in the market in North America. PUMA inaugurated its new fulfillment center in Indiana, where the company will install Bastian’s advanced robotic storage and retrieval system, AutoStore Black Line, for mass production of its signature sportswear.
  • September 2019: Japan-based Daifuku Co. announced the setting up of its subsidiary in Vietnam under the name Daifuku Intralogistics Vietnam. The new entity will be responsible for local sales, installation, and aftersales services of conveyor systems for the distribution and manufacturing end-users in the country.

List of Companies Covered in the Conveyor System Market Report:

  • Taikisha Ltd. (Japan)
  • Toyota Industries Corporation (Japan)
  • Dürr AG (Germany)
  • Dematic (United States)
  • Bastian Solutions, Inc. (United States)
  • Daifuku Co., Ltd. (Japan)
  • Invata Intralogistics (United States)
  • ATS Automation Tooling Systems Inc. (Canada)
  • Interroll (Schweiz) AG (Germany)
  • Conveyor Systems Ltd (United Kingdom)
  • Continental Conveyor (United States)

Quick Buy – Conveyor Systems Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101116

Detailed Table of Content

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Drivers, Restraints and Opportunities
    • Emerging Trends of Market
  • Key Insights
    • Macro and Micro Economic Factors
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Forces Analysis
    • Impact of Covid-19: Conveyor Systems Industry Analysis
  • Global Conveyor Systems Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Sizing Estimations and Forecasts – By Type (Value)
      • Roller Conveyors
      • Flat Belt Conveyors
      • Wheel Conveyors
      • Vertical Conveyors
      • Other Conveyors
    • Market Sizing Estimations and Forecasts – By Location (Value)
      • In-floor Conveyors
      • On-floor Conveyors
      • Overhead
    • Market Sizing Estimations and Forecasts – By Load (Value)
      • Unit Load
      • Bulk Load
    • Market Sizing Estimations and Forecasts – By Application (Value)
      • Food & Beverages
      • Pharmaceuticals
      • Supply chain & Logistics
      • Manufacturing
      • Mining
      • Others (Airports, etc.)
    • Market Analysis, Insights and Forecast – By Region (Value)
      • North America
      • Europe
      • Asia Pacific
      • Middle East and Africa
      • Latin America

TOC Continued.

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/conveyor-systems-market-101116

Have a Look at Related Research Insights:

Automated Feeding System Market Size, Share and Global Trend By Feeding Line (Mixer, Conveyor, Controllers, Others), By Component (Software, Hardware), and Geography Forecast till 2026

Conveyor Monitoring Market Size, Share And Global Trend By End-use Industry (Food & Beverage, Automotive, Mining, Construction, Others), And Geography Forecast Till 2026

Baggage Handling System Market Size, Share & Industry Analysis, By Type (Destination coded vehicle (DCV), Conveyor), By Technology (Radio-Frequency Identification (RFID), Barcode), By Application (Airport, Railway, Marine), and Regional Forecast, 2020-2027

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs

Read Press Release: https://www.fortunebusinessinsights.com/press-release/conveyor-systems-market-9225

LEAVE A REPLY

Please enter your comment!
Please enter your name here