Executive Summary

The global conveyor systems market was valued at USD 7.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2021 to 2028. The increasing demand for automation in industries and the need for improved efficiency and productivity in manufacturing processes are some of the key factors driving the growth of the conveyor systems market. Additionally, the rising demand for e-commerce logistics is expected to fuel the growth of the market further.

Based on type, the belt conveyor segment accounted for the largest market share in 2020, owing to its high load-carrying capacity and ability to transport materials over long distances. Based on end-use industry, the manufacturing segment held the largest market share in 2020, due to the widespread use of conveyor systems in the manufacturing industry to transport raw materials and finished products.

Geographically, Asia Pacific dominated the global conveyor systems market in 2020, owing to the presence of a large manufacturing sector and rising demand for automation in industries in the region.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• The global conveyor systems market was valued at USD 7.4 billion in 2020 and is expected to grow at a CAGR of 4.6% from 2021 to 2028.
• Belt conveyors accounted for the largest market share in 2020, while the manufacturing industry was the largest end-use industry.
• Asia Pacific dominated the global conveyor systems market in 2020.

Market Drivers

1. Increasing Automation in Industries

The increasing demand for automation in industries is one of the key factors driving the growth of the conveyor systems market. Automation allows for the efficient and reliable movement of materials, goods, and products throughout a production or distribution facility, reducing the need for manual labor and increasing productivity.

2. Rising Demand for E-commerce Logistics

The rising demand for e-commerce logistics is expected to fuel the growth of the conveyor systems market further. The growth of e-commerce has led to an increase in the volume of packages and parcels that need to be transported, and conveyor systems are an efficient way to transport these items.

3. Need for Improved Efficiency and Productivity in Manufacturing Processes

The need for improved efficiency and productivity in manufacturing processes is another key driver of the conveyor systems market. Conveyor systems allow for the rapid movement of materials and products, reducing the time required for manufacturing processes and increasing productivity.

Market Restraints

1. High Initial Investment

The high initial investment required for the installation of conveyor systems is a major restraint on the growth of the market. Conveyor systems require a significant investment in infrastructure, equipment, and maintenance, which can be a barrier to entry for small and medium-sized enterprises.

2. Limited Flexibility

Conveyor systems are designed for specific applications and may not be suitable for all types of materials or products. This can limit the flexibility of the system and make it difficult to adapt to changing production needs.

3. Maintenance and Repair Costs

Conveyor systems require regular maintenance and repair, which can be costly for businesses. Failure to maintain the system properly can lead to downtime and reduced productivity, which can have a significant impact on the bottom line.

Market Opportunities

1. Growing Adoption of Industry 4.0 Technologies

The growing adoption of Industry 4.0 technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), presents a significant opportunity for the conveyor systems market. These technologies can be used to improve the efficiency and reliability of conveyor systems, reduce maintenance costs, and enhance overall productivity.

2. Emerging Markets

Emerging markets, such as India and China, present a significant growth opportunity for the conveyor systems market. These countries have a large manufacturing sector and are rapidly adopting automation technologies, which is expected to drive the demand for conveyor systems in these regions.

3. Expansion of E-commerce

The expansion of e-commerce is expected to continue driving demand for conveyor systems, as the volume of packages and parcels that need to be transported continues to grow. The need for fast and efficient delivery is expected to drive the adoption of conveyor systems in the e-commerce sector.

Market Dynamics

The conveyor systems market is highly competitive, with numerous players operating in the market. The market is characterized by intense competition, with players competing on factors such as price, quality, and innovation. The market is also highly fragmented, with numerous small and medium-sized enterprises operating in the market.

The market is expected to experience significant growth in the coming years, driven by factors such as increasing automation in industries, rising demand for e-commerce logistics, and the need for improved efficiency and productivity in manufacturing processes. However, the market is also expected to face challenges, such as the high initial investment required for the installation of conveyor systems and the limited flexibility of these systems.

Regional Analysis

The global conveyor systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific dominated the global market in 2020, accounting for the largest market share. The region is expected to continue dominating the market during the forecast period, driven by the presence of a large manufacturing sector and rising demand for automation in industries in the region.

Europe and North America are also expected to experience significant growth in the coming years, driven by factors such as the growing adoption of Industry 4.0 technologies and the need for improved efficiency and productivity in manufacturing processes.

Competitive Landscape

Leading Companies in the Conveyor Systems Market:

1. Daifuku Co., Ltd.
2. Siemens AG
3. Vanderlande Industries BV (Toyota Industries Corporation)
4. Swisslog Holding AG (KUKA AG)
5. Honeywell International Inc.
6. Interroll Group
7. Fives Group
8. TGW Logistics Group GmbH
9. Dematic (KION Group AG)
10. BEUMER Group GmbH & Co. KG

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The conveyor systems market is segmented based on type, end-use industry, and geography.

By Type:

1. Belt Conveyor
2. Roller Conveyor
3. Pallet Conveyor
4. Overhead Conveyor
5. Other Conveyor Types

By End-Use Industry:

1. Manufacturing
2. Food & Beverage
3. Automotive
4. Aviation
5. E-commerce
6. Pharmaceutical
7. Others

Category-wise Insights

• Based on type, the belt conveyor segment accounted for the largest market share in 2020, owing to its high load-carrying capacity and ability to transport materials over long distances. The roller conveyor segment is also expected to experience significant growth during the forecast period, driven by factors such as its ability to handle a wide range of products and its ease of installation.

• Based on end-use industry, the manufacturing segment held the largest market share in 2020, due to the widespread use of conveyor systems in the manufacturing industry to transport raw materials and finished products. The e-commerce segment is expected to experience significant growth during the forecast period, driven by the rising demand for fast and efficient delivery of packages and parcels.

Key Benefits for Industry Participants and Stakeholders

1. Improved Efficiency and Productivity

The use of conveyor systems can help improve the efficiency and productivity of manufacturing processes, reducing the time required to transport materials and products and increasing overall productivity.

2. Cost Savings

The use of conveyor systems can help reduce the need for manual labor, reducing labor costs and improving the bottom line.

3. Improved Safety

Conveyor systems can help improve workplace safety by reducing the risk of injury associated with manual handling of heavy or bulky items.

SWOT Analysis

Strengths:

1. Efficient and Reliable Movement of Materials
2. High Load-Carrying Capacity
3. Reduced Need for Manual Labor
4. Improved Workplace Safety

Weaknesses:

1. High Initial Investment
2. Limited Flexibility
3. Maintenance and Repair Costs

Opportunities:

1. Growing Adoption of Industry 4.0 Technologies
2. Emerging Markets
3. Expansion of E-commerce

Threats:

1. Economic Uncertainty
2. Intense Competition
3. Rapid Technological Changes

Market Key Trends

1. Increasing Adoption of Automated Conveyor Systems
2. Growing Demand for Modular Conveyor Systems
3. Integration of IoT and AI Technologies

Covid-19 Impact

The Covid-19 pandemic has had a significant impact on the conveyor systems market. The pandemic has led to disruptions in supply chains and manufacturing processes, which has affected the demand for conveyor systems. However, the pandemic has also led to an increased focus on automation and the need for improved efficiency and productivity in manufacturing processes, which is expected to drive the demand for conveyor systems in the post-pandemic period.

Key Industry Developments

1. In April 2021, Interroll Holding AG announced the launch of its new modular conveyor platform, which is designed to simplify and speed up the installation of conveyor systems.
2. In February 2021, Daifuku Co. Ltd. announced the acquisition of Logimetrix, a provider of warehouse control systems and software, in a bid to expand its automation capabilities.

Analyst Suggestions

1. Companies should focus on developing innovative and cost-effective conveyor systems to gain a competitive edge in the market.
2. Companies should also focus on expanding their presence in emerging markets, such as India and China, to tap into the growing demand for conveyor systems in these regions.

Future Outlook

The conveyor systems market is expected to experience significant growth in the coming years, driven by factors such as increasing automation in industries, rising demand for e-commerce logistics, and the need for improved efficiency and productivity in manufacturing processes. The market is also expected to face challenges, such as the high initial investment required for the installation of conveyor systems and the limited flexibility of these systems.

Conclusion

In conclusion, the conveyor systems market is expected to experience significant growth in the coming years, driven by factors such as increasing automation in industries, rising demand for e-commerce logistics, and the need for improved efficiency and productivity in manufacturing processes. The market is highly competitive, with numerous players operating in the market. Companies should focus on developing innovative and cost-effective conveyor systems and expanding their presence in emerging markets to gain a competitive edge. The expansion of e-commerce and the growing adoption of Industry 4.0 technologies also present significant opportunities for the market.

While the market is expected to face challenges such as the high initial investment required for the installation of conveyor systems and the limited flexibility of these systems, the overall outlook for the market is positive. The use of conveyor systems can help improve the efficiency and productivity of manufacturing processes, reduce labor costs, and improve workplace safety, making them an essential component of numerous industries.