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Conveyor System Market Trends

Report ID: GMI8000
Published Date: Feb 2024
Report Format: PDF

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Conveyor System Market Trends

The integration of robotics with conveyor systems is on the rise. Autonomous mobile robots (AMRs) and robotic arms are working collaboratively with conveyor systems to optimize material flow, handling tasks such as picking, packing, and palletizing in warehouses and distribution centers. Robotics in the fulfillment centers of online retailers underwent a revolution when Amazon (US) acquired Kiva Systems (US), a leading innovator in material handling technology. Since conveyor systems are among the most often utilized sorting systems, the market for these systems is anticipated to develop as e-commerce expands. Energy efficiency is a key focus in conveyor system design.

Manufacturers are incorporating energy-efficient motors, variable frequency drives (VFDs), and regenerative braking systems to reduce power consumption. Sustainable conveyor systems align with environmental goals and operational cost savings. Industries such as manufacturing and automotive are adopting high-speed and precision conveyor systems. These systems enhance production efficiency by enabling faster material handling, precise positioning, and synchronization with other automated processes. Intralogistics automation, driven by conveyor systems, is becoming more sophisticated. Conveyor networks are being designed to seamlessly connect various stages of the production or distribution process, optimizing intralogistics workflows and reducing lead times.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of conveyor system was reached USD 12 billion in 2023 and is set to register a CAGR of over 5.7% between 2024 and 2032, driven by the exponential growth of e-commerce and the logistics sector.

The belt conveyor system was worth USD 6.5 billion in 2023 and is anticipated to grow through 2032, driven by their adaptability to various industries, including manufacturing, logistics, and airports.

North America conveyor system market held a revenue share of 25% in 2023 and is anticipated to grow rapidly through 2032, driven by the expansion and modernization of the manufacturing sector.

Beumer Group, Daifuku Co., Ltd., Dematic (KION Group), Fives Group, FlexLink AB (Coesia Group), Honeywell Intelligrated, Hytrol Conveyor Company, Inc., Interroll Holding AG, Intralox, L.L.C. (part of Laitram, L.L.C.), Rexnord Corporation, Siemens AG are some of the major