The global conveyor system market size is estimated to grow at a significant CAGR during the forecast period. Higher adoption of automation processes in various end-use industries and increasing demand for handling larger volumes of goods are the propelling factors that are estimated to accelerate the conveyor system market. As mining needs to handle larger volumes of goods, the conveyor system is the preferred as well as an economical solution for long distances. The growing purchasing power of consumers and economic growth in these segments are the major factors that have encouraged the growth of the manufacturing industry. Automation in manufacturing, baggage handling, food & beverage, mining, and several other organizations has brought the industry closer to the zero-defect target.
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An increasingly highly competitive environment across all industries is leading to companies continuously looking for process optimization, which in turn has enlarged the demand for the automation of industrial facilities. The industry has experienced several ongoing advancements in automation. These can aid in meeting requirements attributed to material handling capacities, resulting in minimised production time, fewer chances of human error, increased safety, high production volume, and increased accuracy and repeatability. Due to such advantages, a growing number of firms are adopting such technologies for material handling processes. As per the International Federation of Robotics (IFR), in 2020, 2.7 million robots worked in factories globally.
Market Coverage
· The market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered-
· By Type
· By Operation
· By Application
· By Component
· Competitive Landscape: Daifuku Co., Ltd. (Japan), Continental AG (Germany), Siemens AG (Germany), and Fives Group (France)
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Global Conveyor System Market by Segment
By Type
• Belt
• Roller
• Pallet
• Overhead
• Tri planar
• Bucket
• Floor
By Operation
• Manual
• Automatic
• Semi-automatic
By Application
• Mineral
• Metal
• Coal
By Component
• Aluminium profile (conveyor belt support)
• Driving unit (motor bracket, counter-bearing, and electrical drive)
• Extremity unit (pulley and clamping strap)
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
