Conveyor System Market Forecast to 2027 - COVID-19 Impact and Global Analysis by System Type, Belt Type, and Industry

In terms of revenue, the global conveyor system market was valued at US$ 7,940. 38 million in 2019 and is projected to reach US$ 11,903. 88 million by 2027; it is expected to grow at a CAGR of 5. 5% from 2020 to 2027.

New York, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Conveyor System Market Forecast to 2027 - COVID-19 Impact and Global Analysis by System Type, Belt Type, and Industry" - https://www.reportlinker.com/p06010039/?utm_source=GNW
A conveyor system is mechanical equipment or assemblies that carry material from one location to another with less effort. There are various types of conveyor systems, such as overhead, floor, roller, and belt, upon which the materials move. These systems come in different varieties to suit the different materials or products required to be transported. While deploying conveyor systems in any industry, several key factors, such as abrasiveness, corrosiveness, flowability, size, and moisture content, should be taken into consideration to fulfill the industry needs.

Increasing demand for automation in industries, including food & beverage, automotive, and manufacturing, is one of the significant drivers for the conveyor system market.In the automotive industry, rising adoption of assembly line systems and mass production, coupled with increase in vehicle manufacturing, contributes to greater adoption of conveyor system, thereby influencing the market growth.

In addition, leading market players are focusing on broadening their addressable market by diversifying client bases, expanding current product portfolios by developing new products.For instance, in April 2020, Martin Engineering, a US-based company launched a conveyor belt monitoring system.

The new belt cleaner position indicator monitors the blade, track and report of remaining service life. The newly launched product reduces the manual inspections by providing accurate data to the technicians and mitigating exposure to moving conveyors.

Also, emergence of Industry 4.0 in manufacturing industry is anticipated to increase the adoption of automation technologies. For instance, in October 2020, as per the Coreal Desarrollos Tecnológicos SpA, the conveyor systems were considered the major mode of transport for bulk materials in minerals or coal mining industry. Coreal has developed a digital tool, which is capable of characterizing the defects of all the elements of the conveyor belts, which makes it possible to move from the current corrective maintenance approach to predictive maintenance, where the damage can be anticipated, and action can be taken before the critical failure. It has designed a monitoring system for the different elements of the conveyor belt that would carry out a diagnosis in real-time, while generating a predictive maintenance plan.

Overall size of the conveyor system market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the conveyor system market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants involved in this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts and key opinion leaders specializing in the conveyor system market.Daifuku Co.

Ltd.; Dematic; Emerson Electric Co.; Honeywell Intelligrated; Interroll Holding GmbH; Siemens AG; SSI Schafer; Swisslog Holding AG; TGW Logistics Group; and Vanderlande Industries are among the key market players profiled during this market study.
A conveyor system is mechanical equipment or assemblies that carry material from one location to another with less effort. There are various types of conveyor systems, such as overhead, floor, roller, and belt, upon which the materials move. These systems come in different varieties to suit the different materials or products required to be transported. While deploying conveyor systems in any industry, several key factors, such as abrasiveness, corrosiveness, flowability, size, and moisture content, should be taken into consideration to fulfill the industry needs.

Increasing demand for automation in industries, including food & beverage, automotive, and manufacturing, is one of the significant drivers for the conveyor system market.In the automotive industry, rising adoption of assembly line systems and mass production, coupled with increase in vehicle manufacturing, contributes to greater adoption of conveyor system, thereby influencing the market growth.

In addition, leading market players are focusing on broadening their addressable market by diversifying client bases, expanding current product portfolios by developing new products.For instance, in April 2020, Martin Engineering, a US-based company launched a conveyor belt monitoring system.

The new belt cleaner position indicator monitors the blade, track and report of remaining service life. The newly launched product reduces the manual inspections by providing accurate data to the technicians and mitigating exposure to moving conveyors.

Also, emergence of Industry 4.0 in manufacturing industry is anticipated to increase the adoption of automation technologies. For instance, in October 2020, as per the Coreal Desarrollos Tecnológicos SpA, the conveyor systems were considered the major mode of transport for bulk materials in minerals or coal mining industry. Coreal has developed a digital tool, which is capable of characterizing the defects of all the elements of the conveyor belts, which makes it possible to move from the current corrective maintenance approach to predictive maintenance, where the damage can be anticipated, and action can be taken before the critical failure. It has designed a monitoring system for the different elements of the conveyor belt that would carry out a diagnosis in real-time, while generating a predictive maintenance plan.

Overall size of the conveyor system market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining overview and forecast for the conveyor system market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants involved in this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts and key opinion leaders specializing in the conveyor system market.Daifuku Co.

Ltd.; Dematic; Emerson Electric Co.; Honeywell Intelligrated; Interroll Holding GmbH; Siemens AG; SSI Schafer; Swisslog Holding AG; TGW Logistics Group; and Vanderlande Industries are among the key market players profiled during this market study.
Read the full report: https://www.reportlinker.com/p06010039/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001