The conveyor system market in SAM is expected to grow from US$ 655. 61 million in 2019 to US$ 895. 93 million by 2027; it is estimated to grow at a CAGR of 4. 1% from 2020 to 2027. Digitization has paved the way for conveyor system manufacturers to introduce new business models based on equipment utilization or performance.
New York, Feb. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "South America Conveyor System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by System Type, Belt Type, and Industry" - https://www.reportlinker.com/p06004229/?utm_source=GNW
Several businesses are constantly striving to enhance logistics and assembly operations.
For instance, MiniTec Company supports various industries with its advanced products and convincing customer services.MiniTec has developed and established as an international technology company focusing on advanced conveyor technology, automation, workplace systems, and assembly technology.
Digitization has created several opportunities across different processes in the value chain of the conveyor system, from designing the product to manufacturing, selling, and aftersales services. Also, expansion of e-commerce industry is catalyzing the conveyor systems demand, which is expected to positively influence the demand for conveyor systems.
In terms of industry, the food & beverage segment led the SAM conveyor system market in 2019.From the past few years, the conveyor systems have progressed and are no longer just powered manually.
At present, advanced conveyor systems are broadly used in the food & beverages industry in order to enhance food quality, productivity, operational efficiencies, and safety.The commonly used conveyors in this industry are vibrating conveyors, belt conveyors, flexible screw conveyors, screw conveyors, aero-mechanical conveyors, and cable and tubular drag conveyor systems.
Industrial applications in the food & beverages sector, including confectionery, bakery, meat and poultry, snack foods, fruits and vegetables, dairy, and seafood, are a few instances where conveyor systems are utilized.
The food might get exposed to bacterial contaminants that spread through poorly inspected products or because of product contamination by dirty processing machines.With growing COVID-19 concerns, particularly in meat processing plants, there is a robust demand for hygienic practices throughout the food & beverages industry.
Thus, companies are focused on designing hygienic equipment. For instance, Belt Technologies, Inc. offers conveyor solutions such as solid stainless steel belts and conveyor systems.
SAM is severely affected by the COVID-19 pandemic.In SAM, Brazil has the highest number of COVID-19 confirmed cases, followed by other countries, such as Ecuador, Peru, Chile, and Argentina.
Governments in SAM are taking several initiatives to protect people and control COVID-19’s spread in the region through lockdowns, trade bans, and travel restrictions.These measures are expected to have a direct impact on the region’s economic growth as the region would face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to major trading partners.
The sharp decline in the sales of the logistics industry and halt in vehicle production in the region due to lockdown measures is expected to directly impact the growth of the conveyor system market in this region.Conversely, the online retail sector is ruling the market amid pandemic since consumers are more inclined toward online shopping and expect fast delivery in case of a product exchange, which demands conveyor systems.
Further, the sharp decline in other business activities, such as automotive and metal & mining, is expected to directly affect the growth rate of the conveyor system market in this region for the next three to four quarters.
The overall SAM conveyor system market size 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 SAM 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 who typically take part in such a 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 SAM conveyor system market. DEMATIC; Emerson Electric Co.; Honeywell Intelligrated; Interroll Holding, GmbH; Siemens AG; SSI Schäfer and Vanderlande Industries B.V are among a few players operating in the SAM conveyor system market.
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