“Rising demand for handling larger volumes and demand for efficient operation in industries are expected to fuel the demand for conveyor system”
The conveyor system market is projected to grow at a CAGR of 9.04%, to reach a market size of USD 8.87 billion by 2021. The market is driven by factors such as increased demand for automation, demand for cost efficient material handling systems, need to handle larger volumes across all the industries, increasing FDI investments in developing countries and other factors. The factor which restrains the market from growth is high initial investments, which may not be feasible for various small and medium scale enterprises.
“Lightweight conveyor belt market is the fastest growing segment in the global conveyor system market”
Lightweight conveyor belt market is expected to grow at the fastest CAGR. Their applications span across various industries including bakeries, package handling, and airport baggage handling amongst others. Rising process automation is reflected in the increased demand for lightweight belt designs. Market globalization and competition have led to the growth of this segment. These factors have incentivized the players to innovate more lightweight and energy efficient belt types.
“Retail industry constitute the largest conveyor system market globally”
Retail industry has the largest market size in the conveyor system market globally. Retail industry has become more organized with the entry of supermarket/hypermarket giants such as Wal-Mart (U.S.), Kroger (U.S.), Carrefour (France), Tesco (U.K.), and others. The major applications include sorting, carton handling, distribution applications in supermarkets/hypermarkets, distribution centres, and warehouses. Distribution centres play a prime role in the conveyor system market as they cover a huge area and serve around hundreds of supermarkets/hypermarkets in its vicinity. According to Market Realist, in U.S. the supermarkets account for 95% of total retail food store sales. Thus the increasing number of supermarkets influence the demand for conveyor systems.
“Europe: Largest market for conveyor system”
The European region leads the conveyor systems market, where most of the top conveyor systems manufacturers such as SSI Schaefer (Germany), Dematic (Luxembourg), Swisslog Holding AG (Switzerland), Fives Group (France), Vanderlande Industries (The Netherlands), and Siemens (Germany), are based in Europe. In retail sector, U.K. have 75% share in the organized retail sector and the country has major retail chains such as Tesco, Asda, Sainsbury and Others. In case of airports, presence of major airports in Europe such as the London Heathrow Airport (U.K.), the Paris Charles de Gaulle Airport (France), Frankfurt Airport (Germany), Amsterdam Airport Schiphol (The Netherlands), and Madrid Barajas Airport (Spain) leads to increased demand for conveyor systems.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from conveyor system suppliers to retail, food & beverage, airport and automotive industries. The break-up of the primaries is as follows:
• By Company Type – Tier-1 - 63 %, Tier-2 - 29%, and Tier-3 - 8%
• By Designation - C level - 45%, D level – 43%, others – 12%
• By Region - North America - 58%, Europe - 30%, Asia-Oceania - 12%
The report provides detailed profiles of the following companies:
• BASF SE
• Siemens AG
• Emerson Electric Co.
• Daifuku Co. Ltd.
• Vanderlande Industries B.V.
• Taikisha Ltd
• Interroll Holding GmBH
• TGW Logistics Group
• SSI Schäfer
The report provides a picture on conveyor system market across different verticals and regions. It aims at estimating the market size and future growth potential of the conveyor systems across different segments such as industries, conveyor types, belt types and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to buy the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall conveyor system market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.