Factors such as growing industrialization, need of automation to reduce manufacturing costs and waste and improve the production efficiency drives the market.
PORTLAND, OR, UNITED STATES, October 25, 2021 /EINPresswire.com/ — Automation has become an integral part of several industrial operations with the players focus on a high degree of efficient and safe transportation of materials. Moreover, ever-rising competition among the industry players to meet the customer demands in time with a reduction in operational expenditure has triggered the demand for conveyor systems across the world.
Conveyor Systems Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $7,573 million by 2022, registering a CAGR of 4.3% during the period 2016-2022.
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Material handling equipment such as conveyor systems have experienced an upsurge in demand in recent past. Manufacturing industry players have not only focused on improving quality and production efficiency, but have also made significant investments towards reducing waste and production costs through automation. However, high initial installation costs of such systems could hamper their market growth. The demand for eco-friendly, cost-effective and safe conveyors systems are expected to generate the additional demand for the market growth.
Major types of conveyors systems sought by the customer industries include belt, roller, pallet, overhead, and others including crescent, tri-planer, and floor conveyors. Conveyor system industry has witnessed several transitions from belt and roller conveyors to overhead conveyors with regular innovations in their design. The players have made efforts to make the conveyor more flexible in order to meet the demand of food and beverages and automotive industries. Overhead and pallet conveyors prove to be ideal where space is major restraint in deploying the conveyor systems.
Key Market Players
Daifuku Co., Ltd.
Dematic Group S.à r.l.
Emerson Electric Co.
Interroll Holding Ltd.
Swisslog Holding AG
SSI Schäfer AG
TGW Logistics Group Gmbh
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Key Market Segments
Market by Type
Others (Floor, Crescent, Tri-planer)
Market by Industry Verticals
Food and Beverages
Market by Geography
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Source: EIN Presswire