Conveyor System Market Key Current and Future Trends, Regional Forecast 2028

Conveyor System Market is projected to be worth USD 10.6 Billion by 2028, registering a CAGR of 3.9% during the forecast period (2021 - 2028).

Conveyor systems are mechanical systems able to transport materials within the factory premises from one location to another. They are popular in mining, manufacturing, material handling, and packaging industries due to being handy in transporting sharp items and mass-produced items. Market Research Future (MRFR) estimates projections on growth and revenue on the global conveyor systems market for the period 2021 to 2028 (forecast period). The COVID-19 pandemic and its impact have been included in the full report.

Segmentation

Based on type, the Conveyor Systems Market is segmented into overhead, roller, pallet, belt, and others.  Belt conveyor systems are continuous belts for conveying products or materials in a loop between two end-pulleys. The end-pulleys have a roll underneath for dropping off finished items.

By application, it is segmented into automotive, retail, food & beverages, airport, and others. The food & beverages application can gain traction in the market owing to its adoption in fast-food restaurants for serving consumers rapidly. Conveyor belt systems are used in transporting plates in an efficient manner.

Regional Analysis

Currently, North America is the largest market for conveyor systems, with the U.S. accounting for a majority of the market share. Investments in the automotive sector and material safety concerns are major drivers triggering the demand for conveyor systems.

Asia Pacific is predicted to be the fastest growing region for conveyor belts and North America has the second position in this regard. The increase in the modernization and construction of new airports, distribution centers, and warehouses can trigger the development of environment friendly and cost-effective conveyor systems. The seamless integration of conveyor systems into processes with the help of quiet and energy-efficient rollers can improve employee communication and accelerate production times.

Market Scope

The global conveyor systems market is anticipated for fabulous growth over the forecast period owing to applications in various end-use industries. Rise in factory automation and massive construction projects can drive the market demand till 2028. Emphasis on physical distancing and need for safe handling of materials within company premises can drive the demand for conveyor systems. Rapid industrialization and inclination of ecommerce firms towards conveyor belts for faster delivery of items can bode well for the market.

Benefits of conveyor systems such as installation at specific junctions during production for increasing the safety of the workplace, safe transport of materials, movement of huge quantities of goods, and prevention of accidents and injuries can favor its production. The utilization of human-machine interface for analyzing the safe run of conveyor systems and assurance of minimal disruptions to production, packaging, and delivery processes can propel its demand over the forecast period.

Competitive Landscape

Interroll, Caterpillar, Intelligrated, Daifuku, Fives Group, Emerson Electric, Siemens AG, FMC technologies, Allied Conveyor Systems, Dynamic Conveyors, Dematic Group, and Dorner Conveyors are key players of the global conveyor system market. Design of conveyor systems with specific metrics such as maximum load capacity, conveyor belt speed, throughput, drive speed, and load capacity per unit length are being produced by manufacturers for smooth operations. Recently, Babcock & Wilcox obtained a contract for designing and delivery of ash handling conveyor solutions to We Energies’ Oak Creek power plant. The conveyor system will adhere to latest environmental guidelines and assist in loading out of ash residue from solid fuel combustion processes.