Vertical Reciprocating Conveyor Market Analysis

Vertical Reciprocating Conveyor Market Analysis

style="text-align:justify">India vertical reciprocating conveyor market is estimated to expand at 8% growth rate till 2027. The expansion of multi-floor facilities will drive the demand for mechanical vertical reciprocating conveyors to smoothly move materials, ensuring zero damage to products. Retailers are focusing on constructing multi-level warehouses within the country due to the increased adoption of e-commerce, resulting from the ongoing COVID-19 pandemic. The Government of India is also supporting the expansion of warehouse centers under its Warehouse Development and Regulatory Authority (WDRA) norms. Mechanical conveyors are highly suitable for multi-level warehouse centers as they enable configuration between different floor levels and are available in a wide range of platform sizes. These conveyors can travel between multiple levels and require less maintenance compared to a hydraulic lift.

The Europe light capacity vertical reciprocating conveyor market is predicted to attain a CAGR of 5% till 2027. The flourishing printing industry across the region is projected to drive the demand for light capacity conveyors. According to the European Commission, printing enterprises generate an annual turnover of around USD 105.9 billion from printing on textiles, paper, or plastics. These conveyors are widely used in printing & publication applications to move paper rolls, die boards, plates, and printed materials between multiple floor levels. Vertical reciprocating conveyors can elevate or lower materials, making them ideal for scrap removal, especially in cutting processes within the binder. Players in the vertical reciprocating conveyor market are focusing on offering high-performance lightweight conveyors for the material transfer needs of printing companies.

In 2020, the U.S. market size was around USD 150 million. The expansion of the automotive sector has resulted in a rise in the number of dealers across the country. Large automakers are expanding their dealer networks to strengthen their market reach. According to the National Automobile Dealers Association (NADA), dealerships in the U.S. noted over 265 million repair orders with service and parts sales totaling over USD 111 billion. Dealers use heavy-duty vertical conveyors to elevate or lower automobiles to the required heights. As automotive dealers sell new and used vehicles, the safe & reliable uplifting of cars without causing damage is highly crucial.
 

The Asia Pacific vertical reciprocating conveyor market captured around 35% of the global shipments in 2020. Ongoing developments in the industrial sector in countries including China, India, and Japan will drive the industry value. Government organizations in these countries are supporting the development of industries with favorable initiatives. The manufacturing sector in China, South Korea, and India will showcase rapid growth over the coming years. The growth will propel the demand for conveyors in efficient storage and fast movement of goods in production facilities. The expanding e-commerce sector will also boost vertical reciprocating conveyor demand from warehouse & distribution centers.