Conveyor Systems Market - Forecast(2024 - 2030)

The “Conveyor Systems market - Forecast (2024-2031)” by IndustryARC, covers an in-depth analysis of the following segments in the Conveyor Systems Market.

 

● The pandemic has caused significant disruptions in global supply chains, affecting the production and delivery of conveyor systems components. Restrictions on international trade, factory closures, and logistical challenges have led to delays in manufacturing and distribution, impacting the overall market. The COVID-19 crisis has accelerated the adoption of automation technologies across industries. To minimize human contact and ensure operational continuity during lockdowns and social distancing measures, companies have turned to automated solutions, including conveyor systems, to maintain productivity and efficiency. Despite the disruptions, the pandemic has also created increased demand for conveyor systems in sectors such as e-commerce, pharmaceuticals, and healthcare. As online shopping surged during lockdowns, there was a need for efficient sorting, packaging, and delivery systems, leading to a higher demand for conveyor systems.

● The war may result in disruptions to supply chains, particularly if key manufacturing facilities or transportation routes are affected. This can lead to delays in the production and delivery of conveyor systems components, impacting the overall market. Certain industries, such as logistics, transportation, and manufacturing, may be more directly affected by the conflict. These industries often rely on conveyor systems for efficient operations, and any disruptions or changes in these sectors can have implications for the demand and adoption of conveyor systems.

● Fastest Growth of Asia Pacific Region

Asia Pacific is best positioned to lead the market. The greatest expansion is attributable to increased development in the FMCG, car, airport, and mining industries. Furthermore, the area is likely to have a substantial influence on growth due to a large concentration of industrial businesses attempting to automate their production facilities as human-resource costs continue to climb. Furthermore, with increased automation and Industry 4.0, these systems are likely to rise steadily even in rich countries. Furthermore, increased customer demand for items has become an urgent worry for the company. As a result, automation and an integrated manufacturing process have been implemented to improve output, which is boosting market growth.

● Fast expansion of e-commerce

The rising popularity of online shopping is driving the growth of the e-commerce industry. Companies like Flipkart and Amazon are highly favored by online shoppers and require large warehouses to accommodate their extensive product inventory. To stay competitive, e-commerce companies aim to provide accurate orders, same-day or same-hour delivery, and hassle-free returns, leading them to seek cost-effective methods for faster delivery. Digitalization of material handling equipment, such as automated storage and retrieval systems (ASRS) and automated conveyors, has emerged as a comprehensive solution. This technology has gained traction among e-commerce companies, enabling efficient handling of order fulfillment processes. As online purchasing continues to surge, the demand for conveyor systems in the e-commerce industry is expected to experience significant growth. Amazon's acquisition of Kiva Systems, a prominent innovator in material handling technology, has revolutionized robotics in the fulfillment centers of online retail companies. Given that conveyor systems are commonly used for sorting, the expansion of the e-commerce industry is anticipated to drive the conveyor systems market.

As machine learning and the industrial internet of things are integrated with existing infrastructure to enhance production and boost efficiency, an increasing number of enterprises are implementing Industry 4.0 approaches to modernise their existing conveyor systems. Consumer preferences changing and the necessity to establish an adaptable environment to respond to these trends will have a beneficial impact on the industry in the next years. For their processing and manufacturing processes, industries are searching for compact, low-maintenance, and intelligent conveyor systems. The conveyor system market will be driven in the future years by rising industrialization in emerging nations and substantial research by industry participants to produce a multi-utility and flexible conveyor system.

Manufacturers are being driven towards adopting the circular economy by stringent government regulations and industry initiatives aimed at reducing carbon footprint. In the conveyor system market, energy consumption is a significant concern, particularly for systems that utilize outdated electric motors. To address this issue, market players are actively developing more efficient products that can help minimize energy costs and consequently reduce carbon emissions. Collaboration among key market players is also taking place to advance the development of optimized machine drives and cooling systems. Additionally, there is a focus on replacing traditional conveyor belt materials with lighter and more durable alternatives. These efforts aim to enhance energy efficiency in conveyor systems and promote sustainability in the industry.

The increasing demand for enhanced productivity and material handling capacities raises safety concerns in conveyor systems. Mishandling can result in injuries, highlighting the importance of proper training for employees. These systems have multiple moving parts and are prone to minor issues that can escalate and disrupt work. Seized rollers, for example, can lead to defects and significant losses. Complex systems have higher chances of failure and continuous breakdowns, impacting their lifespan and incurring high maintenance costs. Conveyor accidents have caused severe losses, with over 40 workplace fatalities and 9,000 injuries reported in 2020 by the US Department of Labor, Bureau of Labor Statistics.

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in Conveyor Systems Market. The top 10 companies in this industry are listed below:

1. Daifuku Co. Ltd. (Jervis B. Webb Company, Elite Line Services (ELS))

2. Continental AG (Continental Tires, VDO, ContiTech, ATE)

3. Siemens AG (Siemens Energy, Siemens Healthineers, Siemens Mobility)

4. Beumer Group (BEUMER, Crisplant)

5. Interroll Holding AG (Drum Motors, RollerDrive, Modular Conveyor Platform (MCP))

6. Durrr Group (EcoClean, ProFleet 200, ProFleet 800)

7. KION Group AG (Linde Material Handling, STILL, Dematic, Baoli)

8. ERIKS North America, Inc. (ERIKS Bearings, ERIKS Seals)

9. Taikisha Ltd. (Industrial HVAC Solutions, Cleanroom Solutions)

10. ATS Automation Tooling Systems, Inc. (ATS Automation, ATS Life Sciences, ATS Workholding, ATS Industrial)