Conveyor System Market Is Projected To Witness Growth Over The Coming Years, Registering A 2.9% CAGR And Surpassing Us$ 12.9 Bn By The End Of 2031

The global conveyor system market was valued at ~US$ 12.1 Bn in 2019 and is anticipated to surpass US$ 12.9 Bn during the forecast period 2020-2030. The market is slated on a course of sluggish growth at 2.9%. The manufacturing sector has witnessed a paradigm shift with the implementation of Industry 4.0 technologies across various industrial sectors. With the growing trend of automation, manufacturing units have implemented Industry 4.0 standards to reduce machine downtime, reduce labor inefficiencies, enhance production, reduce ROI (return on investment), and more importantly achieve high quality manufacturing.

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The COVID-19 crisis has caused unprecedented uncertainty, leading to a major slowdown. The manufacturing of automobiles, industrial equipment and food & beverages has come to a standstill due to stringent lockdowns imposed by governments. Despite this panic buying by consumers is coaxing manufacturers to increase their warehouse space, which is expected to accelerate demand for conveyor systems.

Key Takeaways of Conveyor System Market Study:

• The global conveyor system market is projected to create an absolute $ opportunity of more than ~US$ 3.1 Bn and is anticipated to grow at a value CAGR of 2.9% during the forecast period.
• By product, conveyor belts are projected to grow at a value CAGR of 2.7%, and will be valued 1.6X more than roller conveyors by the end of 2020.
• East Asia is expected to emerge as the fastest growing conveyor system market and is projected to surpass a market valuation of ~US$ 2.6 Bn by the end of 2030.
• Packaging & Warehouse Distribution is projected to grow at a value CAGR of ~3.5% and is expected to create an absolute value opportunity of US$ 973.2 million.

“The demand for conveyor systems is likely to be impacted in the first three quarters of 2020, owing to slowdown of manufacturing and production amid the COVID-19 pandemic. The demand for conveyor system is currently resting on the growth of the e-commerce industry and consequent expansion of warehousing which is anticipated to boost growth of the market during forecast period” says the Fact.MR analyst.

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Key Segments of the Conveyor System Market

• Product

  • Belt Conveyor System
  • Roller Conveyor System
  • Pallet Conveyor System
  • Overhead Conveyor System
  • Tri-Planar Conveyor System
  • Crescent Conveyor System
  • Skid Conveyor System
  • Trailer Conveyor System
  • Other Conveyor Systems

• Operation

  • Manual Conveyor System
  • Semi-Automatic Conveyor System
  • Automatic Conveyor System

• Capacity Type

  • Unit Handling Conveyor System
  • Bulk Handling Conveyor System

• End Use

  • Conveyor System for Packaging & Warehouse Distribution
  • Conveyor System for Textile & Paper
  • Conveyor System for Construction & Mining
  • Conveyor System for Automotive & Transportation
  • Conveyor System for Consumer Electronics
  • Conveyor System for Food & Beverages
  • Conveyor System for Chemicals & Pharmaceuticals

Key Country-wise Inclusions

• US Conveyor System Market
  • Canada Conveyor System Market Sales
  • Germany Conveyor System Market Production
  • UK Conveyor System Market Industry
  • France Conveyor System Market
  • Spain Conveyor System Market Supply-Demand
  • Italy Conveyor System Market Outlook
  • Russia & CIS Market Analysis
  • China Conveyor System Market Intelligence
  • India Conveyor System Market Demand Assessment
  • Japan Conveyor System Market Supply Assessment
  • ASEAN Conveyor System Market Scenario
  • Brazil Conveyor System Market Sales Analysis
  • Mexico Conveyor System Market Sales Intelligence

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Report Benefits & Key Questions Answered

• Conveyor System Market Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
• Conveyor System Market Historical volume analysis: The report provides a comparison of Conveyor System Market historical sales and projected sales performance for 2021-2031.
• Conveyor System Market Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Conveyor System Market It carefully gauges the impact of changing healthcare needs of key demographics globally
• Conveyor System Market Consumption by demographics: The report investigates consumer behavior affecting Conveyor System Market demand outlook for the assessment period. Effect of their keenness for digital trends on Conveyor System Market is  carefully analyzed
• Post COVID consumer spending on Conveyor System Market Consumption: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Conveyor System Market growth.

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