The Conveyer Systems Market size was valued at USD 7.97 Billion in 2023 and is now anticipated to grow to USD 10.80 Billion by 2031, displaying a compound annual growth rate (CAGR) of 3.44% during the forecast Period 2024 - 2031.
The conveyer systems market is growing at a significant with a variety of factors playing along. The growing need for efficient handling of large volumes of materials and products in industries has been a driving factor. The growth of market is affected by factors like industrialization, modernization, and product and process-specific conditions.
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These systems are important for the continuous transport of goods from one point to another in commercial and industrial facilities which helps in reducing production time and labor costs which is driving the market towards its growth. Therefore, industries focus on automated material handling and movement to make processes more efficient. Supply chains and business processes are becoming more complex and customers are also demanding for more as-well-as growing competitive pressure from different economies is fueling for demand of these systems. Moreover, the rising e-commerce & warehousing solution is driving the market. The US Department of Commerce states that the warehousing solution in US generated around USD 50.5 billion there are around 19,000 warehouses in the united states. Also, the increasing need of delivering various products within small time requires efficient inventory management as-well-as reverse logistic systems is the specialty of these systems.
Drivers
Increasing number of warehouses and distribution channels across the globe is driving market towards its growth.
Integration of Industry 4.0 Technologies & IoT in conveyor system is helping in driving the growth of the market.
Industry 4.0 is becoming more popular because of the increasing need for material movement. In order to increase efficiency & productivity of processes industries are combining existing infrastructure with industry 4.0 technologies like machine learning and IIoT’s (industrial Internet of Things) helping in boosting the productivity. conveyor systems can reroute production line in real-time if a line is closed for maintenance, or for any other issue would create a backup line thereby handling problems.
Restraints
High uncertainty in the global trade might hinder the growth of the market.
Lack of Qualified Personnel & High Maintenance Cost is creating a hinderance in the market growth.
Opportunities
Rapid growth of E-commerce and material handling efficiency need is creating opportunities in the conveyer systems growth.
E-commerce companies like Amazon is extremely popular with online shoppers. They need to stock large volumes of products also need to attain order accuracy with the help of conveyer systems. Innovations in material handling like automated storage and retrieval systems (ASRS) and automated conveyors has helped in reducing delivery times. It has gained popularity with e-commerce platforms, helping them in handling order fulfillment with complete efficiency. As demand for online purchasing continues to increase, the demand for conveyor systems will also increase.
Increasing adoption of circular economy aiming to reduce carbon footprint is creating opportunities in adoption of conveyer systems.
Challenges
Keeping up with evolving technologies like IoT & artificial intelligence, is a challenge for conveyor system manufacturers at the same time integrating these is a challenge.
Constant maintenance requirements and high downtime can be a big challenge for businesses because unplanned downtime might result in significant financial loss.
The Russia-Ukraine war has a huge impact on the conveyer systems markets. Disruptions in supply chain is leading to raw material sourcing issues which is 75% of the total cost of manufacturing conveyer systems. Russia being the key source for the chemicals required for the manufacturing of rubber required for belts Is facing availability problems and thereby resulting in price hikes & inflation. The recent surge in inflation—8.5% year-over-year in March—is due to a variety of factors which also includes supply chain issues and these exacerbated price increases in industries with increasing demand and shortages of key resources is thus creating lot of problems. On one hand, consumer spending will still remain strong because of the tight labor market and wage increases is creating a pull. The war might increase demand for conveyor systems in defense sector like manufacturing of ammunition, where efficient material handling is of paramount importance. Moreover, some countries might reduce their reliance on imports might prioritize domestic production creating opportunities for local manufacturers.
Economic slowdowns have a huge impact on conveyor system market. Tight budgets might lead to postponement or cancellation of investments in new conveyor systems. With slowdowns, production volumes will decline in industries which will further reduce the need for efficient material handling solutions. Financing for conveyor system becomes a task as well. This economic uncertainty has discouraged investments even for projects with long-run benefits like increased efficiency. But on the other side, existing conveyor systems will still require maintenance and repairs in order to keep operations running seamlessly making steady demands for replacement parts and services. While, some businesses may prioritize upgrades during this slowdown, viewing as a cost-saving measure. Forward-thinking companies may see this economic slowdown as an investment opportunity in infrastructure upgrades like conveyor systems, gaining a competitive edge when the economy recovers. Focusing on cost-effective measures and highlighting long-term gains, and maintaining existing systems can help the industry to emerge in this slowdowns.
By Type
Belt Conveyor
Roller
Pallet
Overhead
Others
The Belt Conveyer type is dominating the market with 40.2% of market revenue. These are high in demand because of their low maintenance and easy installation qualities. Also, they are an integral part of the airport baggage system with expansion of existing airports and the development of new airports the demand for conveyor belts will also drive. They also have extensive usage in mining industry because of the continuous demand for minerals & rare earth metals.
By Application
Automotive
Retail
Food & Beverages
Airport
Others
The automotive segment has generated the most income of around 63.1% of the total income. Automotive industry has conveyer system involved in every stage of its processes thereby making a dominating position in this segment. Also, the key driving factor for this dominance is the ongoing expansion of conveyor usage across various industries is a combination of rising automation and declining prices.
By Operation
Manual
Semi-Automatic
Automatic
Asia-Pacific region is dominating the market with a share of around 33% of the total market. The rapid growth of e-commerce in Asia-Pacific has increased the demand for conveyor systems. These play a pivotal role in order fulfillment in distribution centers, by improving efficiency and reducing time. Economic growth and industrialization in the region are contributing in growing manufacturing and logistics activities simultaneously growing Conveyor systems market.
North America is the fastest growing region next to Asia-Pacific because of emergence of e-commerce across the region.
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Regional Outlook
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major players are Daifuku Co., Ltd., Fives, Interroll Group, Kardex, Kuka AG, Mahindra Tsubaki, Conveyor Systems Pvt. Ltd., Murata Machinery, Ltd., Siemens, Taikisha Ltd., Caterpillar and others.
Daifuku Co., Ltd-Company Financial Analysis
In February 2023, Murata Machinery USA, Inc. had announced its latest addition to Muratec’s range of automated material handling solutions for small product storage and retrieval–the new Ledger A3 mini-load is a four-tote carriage automated storage, retrieval system (AS/RS) and high-density.
In June 2023, SIMATIC launched WinCC Unified V18 is the new visualization system in the TIA Portal-from visualization up to vertical integration where continued feature and functional improvements have been made to the WinCC Unified System software for supporting panels and runtime systems.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 7.97 Billion |
| Market Size by 2031 | US$ 10.80 Billion |
| CAGR | CAGR of 3.44 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Belt Conveyor, Roller, Pallet, Overhead, Others) • By Application (Automotive, Retail, Food & Beverages, Airport, Others) • By Operation (Manual, Semi-Automatic, Automatic) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Daifuku Co., Ltd., Fives, Interroll Group, Kardex, Kuka AG, Mahindra Tsubaki, Conveyor Systems Pvt. Ltd., Murata Machinery, Ltd., Siemens, Taikisha Ltd., Caterpillar |
| Key Drivers | • Increasing number of warehouses and distribution channels across the globe is driving market towards its growth. • Integration of Industry 4.0 Technologies & IoT in conveyor system is helping in driving the growth of the market. |
| Restraints | • High uncertainty in the global trade might hinder the growth of the market. • Lack of Qualified Personnel & High Maintenance Cost is creating a hinderance in the market growth. |
Ans: The Conveyer Systems Market is expected to grow at a CAGR of 3.44%.
Ans: Conveyer Systems Market size was USD 7.97 billion in 2023 and is expected to Reach USD 10.80 billion by 2031.
Ans: Integration of Industry 4.0 Technologies & IoT in conveyor system is helping in driving the growth of the market.
Ans: Lack of Qualified Personnel & High Maintenance Cost is creating a hinderance in the market growth.
Ans: Asia-Pacific is expected to hold the largest market share in the conveyer systems market during the forecast period.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Conveyer Systems Market Segmentation, By Type
9.1 Introduction
9.2 Trend Analysis
9.3 Belt Conveyor
9.4 Roller
9.5 Pallet
9.6 Overhead
9.7 Others
10. Conveyer Systems Market Segmentation, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Automotive
10.4 Retail
10.5 Food & Beverages
10.6 Airport
10.7 Others
11. Conveyer Systems Market Segmentation, By Operation
11.1 Introduction
11.2 Trend Analysis
11.3 Manual
11.4 Semi-Automatic
11.5 Automatic
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Conveyer Systems Market, By Country
12.2.3 North America Conveyer Systems Market, By Type
12.2.4 North America Conveyer Systems Market, By Application
12.2.5 North America Conveyer Systems Market, By Operation
12.2.6 USA
12.2.6.1 USA Conveyer Systems Market, By Type
12.2.6.2 USA Conveyer Systems Market, By Application
12.2.6.3 USA Conveyer Systems Market, By Operation
12.2.7 Canada
12.2.7.1 Canada Conveyer Systems Market, By Type
12.2.7.2 Canada Conveyer Systems Market, By Application
12.2.7.3 Canada Conveyer Systems Market, By Operation
12.2.8 Mexico
12.2.8.1 Mexico Conveyer Systems Market, By Type
12.2.8.2 Mexico Conveyer Systems Market, By Application
12.2.8.3 Mexico Conveyer Systems Market, By Operation
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Conveyer Systems Market, By Country
12.3.2.2 Eastern Europe Conveyer Systems Market, By Type
12.3.2.3 Eastern Europe Conveyer Systems Market, By Application
12.3.2.4 Eastern Europe Conveyer Systems Market, By Operation
12.3.2.5 Poland
12.3.2.5.1 Poland Conveyer Systems Market, By Type
12.3.2.5.2 Poland Conveyer Systems Market, By Application
12.3.2.5.3 Poland Conveyer Systems Market, By Operation
12.3.2.6 Romania
12.3.2.6.1 Romania Conveyer Systems Market, By Type
12.3.2.6.2 Romania Conveyer Systems Market, By Application
12.3.2.6.4 Romania Conveyer Systems Market, By Operation
12.3.2.7 Hungary
12.3.2.7.1 Hungary Conveyer Systems Market, By Type
12.3.2.7.2 Hungary Conveyer Systems Market, By Application
12.3.2.7.3 Hungary Conveyer Systems Market, By Operation
12.3.2.8 Turkey
12.3.2.8.1 Turkey Conveyer Systems Market, By Type
12.3.2.8.2 Turkey Conveyer Systems Market, By Application
12.3.2.8.3 Turkey Conveyer Systems Market, By Operation
12.3.2.9 Rest of Eastern Europe
12.3.2.9.1 Rest of Eastern Europe Conveyer Systems Market, By Type
12.3.2.9.2 Rest of Eastern Europe Conveyer Systems Market, By Application
12.3.2.9.3 Rest of Eastern Europe Conveyer Systems Market, By Operation
12.3.3 Western Europe
12.3.3.1 Western Europe Conveyer Systems Market, By Country
12.3.3.2 Western Europe Conveyer Systems Market, By Type
12.3.3.3 Western Europe Conveyer Systems Market, By Application
12.3.3.4 Western Europe Conveyer Systems Market, By Operation
12.3.3.5 Germany
12.3.3.5.1 Germany Conveyer Systems Market, By Type
12.3.3.5.2 Germany Conveyer Systems Market, By Application
12.3.3.5.3 Germany Conveyer Systems Market, By Operation
12.3.3.6 France
12.3.3.6.1 France Conveyer Systems Market, By Type
12.3.3.6.2 France Conveyer Systems Market, By Application
12.3.3.6.3 France Conveyer Systems Market, By Operation
12.3.3.7 UK
12.3.3.7.1 UK Conveyer Systems Market, By Type
12.3.3.7.2 UK Conveyer Systems Market, By Application
12.3.3.7.3 UK Conveyer Systems Market, By Operation
12.3.3.8 Italy
12.3.3.8.1 Italy Conveyer Systems Market, By Type
12.3.3.8.2 Italy Conveyer Systems Market, By Application
12.3.3.8.3 Italy Conveyer Systems Market, By Operation
12.3.3.9 Spain
12.3.3.9.1 Spain Conveyer Systems Market, By Type
12.3.3.9.2 Spain Conveyer Systems Market, By Application
12.3.3.9.3 Spain Conveyer Systems Market, By Operation
12.3.3.10 Netherlands
12.3.3.10.1 Netherlands Conveyer Systems Market, By Type
12.3.3.10.2 Netherlands Conveyer Systems Market, By Application
12.3.3.10.3 Netherlands Conveyer Systems Market, By Operation
12.3.3.11 Switzerland
12.3.3.11.1 Switzerland Conveyer Systems Market, By Type
12.3.3.11.2 Switzerland Conveyer Systems Market, By Application
12.3.3.11.3 Switzerland Conveyer Systems Market, By Operation
12.3.3.1.12 Austria
12.3.3.12.1 Austria Conveyer Systems Market, By Type
12.3.3.12.2 Austria Conveyer Systems Market, By Application
12.3.3.12.3 Austria Conveyer Systems Market, By Operation
12.3.3.13 Rest of Western Europe
12.3.3.13.1 Rest of Western Europe Conveyer Systems Market, By Type
12.3.3.13.2 Rest of Western Europe Conveyer Systems Market, By Application
12.3.3.13.3 Rest of Western Europe Conveyer Systems Market, By Operation
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Conveyer Systems Market, By Country
12.4.3 Asia-Pacific Conveyer Systems Market, By Type
12.4.4 Asia-Pacific Conveyer Systems Market, By Application
12.4.5 Asia-Pacific Conveyer Systems Market, By Operation
12.4.6 China
12.4.6.1 China Conveyer Systems Market, By Type
12.4.6.2 China Conveyer Systems Market, By Application
12.4.6.3 China Conveyer Systems Market, By Operation
12.4.7 India
12.4.7.1 India Conveyer Systems Market, By Type
12.4.7.2 India Conveyer Systems Market, By Application
12.4.7.3 India Conveyer Systems Market, By Operation
12.4.8 Japan
12.4.8.1 Japan Conveyer Systems Market, By Type
12.4.8.2 Japan Conveyer Systems Market, By Application
12.4.8.3 Japan Conveyer Systems Market, By Operation
12.4.9 South Korea
12.4.9.1 South Korea Conveyer Systems Market, By Type
12.4.9.2 South Korea Conveyer Systems Market, By Application
12.4.9.3 South Korea Conveyer Systems Market, By Operation
12.4.10 Vietnam
12.4.10.1 Vietnam Conveyer Systems Market, By Type
12.4.10.2 Vietnam Conveyer Systems Market, By Application
12.4.10.3 Vietnam Conveyer Systems Market, By Operation
12.4.11 Singapore
12.4.11.1 Singapore Conveyer Systems Market, By Type
12.4.11.2 Singapore Conveyer Systems Market, By Application
12.4.11.3 Singapore Conveyer Systems Market, By Operation
12.4.12 Australia
12.4.12.1 Australia Conveyer Systems Market, By Type
12.4.12.2 Australia Conveyer Systems Market, By Application
12.4.12.3 Australia Conveyer Systems Market, By Operation
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Conveyer Systems Market, By Type
12.4.13.2 Rest of Asia-Pacific Conveyer Systems Market, By Application
12.4.13.3 Rest of Asia-Pacific Conveyer Systems Market, By Operation
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Conveyer Systems Market, By Country
12.5.2.2 Middle East Conveyer Systems Market, By Type
12.5.2.3 Middle East Conveyer Systems Market, By Application
12.5.2.4 Middle East Conveyer Systems Market, By Operation
12.5.2.5 UAE
12.5.2.5.1 UAE Conveyer Systems Market, By Type
12.5.2.5.2 UAE Conveyer Systems Market, By Application
12.5.2.5.3 UAE Conveyer Systems Market, By Operation
12.5.2.6 Egypt
12.5.2.6.1 Egypt Conveyer Systems Market, By Type
12.5.2.6.2 Egypt Conveyer Systems Market, By Application
12.5.2.6.3 Egypt Conveyer Systems Market, By Operation
12.5.2.7 Saudi Arabia
12.5.2.7.1 Saudi Arabia Conveyer Systems Market, By Type
12.5.2.7.2 Saudi Arabia Conveyer Systems Market, By Application
12.5.2.7.3 Saudi Arabia Conveyer Systems Market, By Operation
12.5.2.8 Qatar
12.5.2.8.1 Qatar Conveyer Systems Market, By Type
12.5.2.8.2 Qatar Conveyer Systems Market, By Application
12.5.2.8.3 Qatar Conveyer Systems Market, By Operation
12.5.2.9 Rest of Middle East
12.5.2.9.1 Rest of Middle East Conveyer Systems Market, By Type
12.5.2.9.2 Rest of Middle East Conveyer Systems Market, By Application
12.5.2.9.3 Rest of Middle East Conveyer Systems Market, By Operation
12.5.3 Africa
12.5.3.1 Africa Conveyer Systems Market, By Country
12.5.3.2 Africa Conveyer Systems Market, By Type
12.5.3.3 Africa Conveyer Systems Market, By Application
12.5.3.4 Africa Conveyer Systems Market, By Operation
12.5.3.5 Nigeria
12.5.3.5.1 Nigeria Conveyer Systems Market, By Type
12.5.3.5.2 Nigeria Conveyer Systems Market, By Application
12.5.3.5.3 Nigeria Conveyer Systems Market, By Operation
12.5.3.6 South Africa
12.5.3.6.1 South Africa Conveyer Systems Market, By Type
12.5.3.6.2 South Africa Conveyer Systems Market, By Application
12.5.3.6.3 South Africa Conveyer Systems Market, By Operation
12.5.3.7 Rest of Africa
12.5.3.7.1 Rest of Africa Conveyer Systems Market, By Type
12.5.3.7.2 Rest of Africa Conveyer Systems Market, By Application
12.5.3.7.3 Rest of Africa Conveyer Systems Market, By Operation
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Conveyer Systems Market, By country
12.6.3 Latin America Conveyer Systems Market, By Type
12.6.4 Latin America Conveyer Systems Market, By Application
12.6.5 Latin America Conveyer Systems Market, By Operation
12.6.6 Brazil
12.6.6.1 Brazil Conveyer Systems Market, By Type
12.6.6.2 Brazil Conveyer Systems Market, By Application
12.6.6.3 Brazil Conveyer Systems Market, By Operation
12.6.7 Argentina
12.6.7.1 Argentina Conveyer Systems Market, By Type
12.6.7.2 Argentina Conveyer Systems Market, By Application
12.6.7.3 Argentina Conveyer Systems Market, By Operation
12.6.8 Colombia
12.6.8.1 Colombia Conveyer Systems Market, By Type
12.6.8.2 Colombia Conveyer Systems Market, By Application
12.6.8.3 Colombia Conveyer Systems Market, By Operation
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Conveyer Systems Market, By Type
12.6.9.2 Rest of Latin America Conveyer Systems Market, By Application
12.6.9.3 Rest of Latin America Conveyer Systems Market, By Operation
13. Company Profiles
13.1 Daifuku Co. Ltd.
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Fives
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Interroll Group
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Kardex
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Kuka AG
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Mahindra Tsubaki Conveyor Systems Pvt. Ltd.
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Taikisha Ltd.
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Murata Machinery Ltd.
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Siemens
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Caterpillar
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
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