Conveying Equipment Market demand worth over $60bn by 2025
Published Date: September 20, 2019 Authors: Preeti Wadhwani, Saloni Gankar
Conveying Equipment Market size is set to exceed USD 60 billion by 2025; according to a new research report by Global Market Insights, Inc.
Growing adoption of industrial automation in developing nations owing to rising government initiatives to boost the manufacturing sector will propel the conveying equipment market growth over the forecast timespan. These systems are being widely adopted in material handling processes as they aid in the reduction of operational costs and production cycle time. Its ability to carry heavy & bulk materials is increasing its implementation in several industries such as food & beverages, automotive, and warehousing & distribution. Moreover, companies in the market are offering customized conveyor systems according to specific industry applications, resulting in increased productivity and reduced labor costs. For instance, Interroll Worldwide Group, a manufacturer of automated logistics systems, is offering conveyor modules for the food industry, which comply with strict hygienic requirements and regulations.
Ongoing technological advancements are encouraging manufacturers to offer quieter and automated conveyors systems. They are increasingly replacing conventional chain conveyors with distributed control and motor starter systems, enhancing energy-efficiency and enabling quieter operations. For instance, Itoh Denki offers powered roller conveyor systems, which can work on low voltage and torque, enabling quiet & safe operations. Moreover, conveying equipment manufacturers are focusing on providing smaller & compact systems that take lesser space for operations. Daifuku Co., Ltd. introduced an inverted power & free conveyor system that allows companies to efficiently use the plant floor space, eliminating the need for expensive lift and transport devices.
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Browse key industry insights spread across 200 pages with 145 market data tables & 27 figures & charts from the report “Conveying Equipment Market Size, By Product (Bulk Handling Equipment, Unit Handling Equipment, Parts & Attachments), By Application (Durable Manufacturing, Food & Beverage, General Merchandise, Mining & Construction, Transportation, Warehouse & Distribution), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
In the conveying equipment market, the adoption of the systems is being witnessed in the food & beverages industry owing to the rising demand for sorting, storing, and transporting packed goods. The presence of stringent government standards & regulations is compelling the industry to follow hygienic requirements for food processing. The increasing demand for safe & hygienic manufacturing operations is encouraging industries to implement maintenance-free, hygienic, and energy-efficient conveyors. These systems are helping industries to minimize their operating costs by reducing energy consumption. Beverage companies are widely using conveyor belts to effectively handle materials of various types, forms, and sizes. For instance, The Coca-Cola Company implemented belt conveyors in its manufacturing facility for bulk handling of products, allowing the company to increase productivity and to eliminate spillage.
The increasing industrialization and growing government emphasis on infrastructure development in Latin American countries, such as Brazil and Mexico, will drive the adoption of sophisticated conveyors. Manufacturing industries in the region are highly investing in advanced technologies, such as AI, machine learning, and robotics, resulting in increased productivity and economic growth. In 2018, 48% organizations under Brazil's National Confederation of Industry (CNI) announced to invest in automated technologies. The adoption of automated solutions will positively impact the growth of conveyor systems in the region. Moreover, the development of government initiatives to improve the manufacturing sector will provide lucrative growth benefits to the market.
Major companies participating in the conveying equipment market share include Viastore Systems, Inc., Toyota Industries Corporation, TGW Logistics Group GmbH, Taikisha Global, SSI Schaefer Group, Siemens AG, Phoenix Conveyor Belt Systems, Murata Machinery, Ltd., Mecalux S.A., KUKA AG, Kion Group AG, Kardex Group, Jungheinrich AG, Intelligrated, Inc., Flexlink, Fives Group, Fenner Group Holdings Ltd, Daifuku Co., Ltd., and Beumer Group GmbH & Co. KG. These companies are increasingly adopting strategies such as new product development and mergers & acquisitions. For instance, Leitner S.p.A developed AGUDIO FlyingBelt conveyor, which is 7.2 km-long and provides environmentally friendly material transport using ropeway technology.
The conveying equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2025, for the following segments:
Conveying Equipment Market, By Product
- Bulk handling equipment
- Unit handling equipment
- Parts & accessories
Conveying Equipment Market, By Application
- Durable Manufacturing
- Food & Beverage
- General Merchandise
- Mining & construction
- Warehouse & distribution
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa