A conveyor system can be defined as equipment which is used to handle and transport materials within industry premises. Nowadays automation has become an integral part of every industrial segment and conveyor systems not only act as an effective and quick transportation solution but also ensure a high degree of safety. This enables in the reduction of cycle time significantly.
The conveyor system market can be segmented on the basis of conveyor type, application and geography. Based on conveyor type, the market can be segmented into roller, belt, overhead, pallet, crescent, floor and others. On the basis of application, the market can be segmented into automotive, retail, aviation and food and beverage. The market on the basis of geography has been divided into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Conveyor Systems Market: Drivers and Restraints
The conveyor systems market is mainly driven by the growing need of automation in various industrial segments. Increasing focus towards cost effective material handling systems is further fuelling the demand for conveyor systems. Moreover, increasing air traffic across the globe is also impacting the market for conveyor systems positively. Conveyor systems are extensively used in airports for baggage handling. Opening of new airports has also resulted in the increased demand for conveyor systems. The expansion of the retail sector is also propelling the demand for conveyor systems as it finds application in sorting, warehousing, cross docking and distribution. The demand for conveyor systems is also expected to remain high from the food and beverage industry throughout the forecast period as it ensures a higher production rate. These factors in combination are expected to impact the growth of conveyor systems market positively during the forecast period from 2016 to 2024.
A major restraint obstructing the growth of the conveyor systems market is the rising cost of raw materials such as steel. This is likely to impact the profit margin significantly.
Recent trends have shown that rising focus towards improving efficiency has resulted in various companies to equip their plants with conveyor systems that is energy efficient and has a gearless design. Moreover, technologically advanced conveyor systems are also high on demand as a result of various companies modernizing their plant facilities.
Conveyor Systems Market: Geographical and Competitive Dynamics
Developing countries such as India, China, Brazil and Saudi Arabia among others is expected to offer huge potential for the conveyor systems market to grow during the forecast period. As a result of the economic improvement of these countries, the industrial sector in these countries is improving which is expected to impact the conveyor systems market positively. Industries such as automotive, retail and food and beverage are expanding in the APAC region and China in particular has experienced a boom in the manufacturing sector which has resulted in infrastructural growth and thus creating demand for conveyor systems.
Some of the key players operating in the conveyor systems market are Taikisha Ltd., Dematic Group, Emerson Electric Co., Daifuku Co., Fives Group, Intelligrated, Inc., Interroll Holding AG, Swisslog AG, SSI Schaefer, TGW Logistics Group Gmbh, Vanderlande Industries and Swisslog AG among others.
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