Conveyor System Market sales is growing at 2.8% CAGR till 2020
Deerfield Beach, FL -- (SBWIRE) -- 10/11/2017 -- According to the report, Europe demand for conveyor systems market was valued at around USD 10 billion in 2014 and is expected to reach around USD 12 billion in 2020, growing at a CAGR of 2.8% between 2015 and 2020. Zion Market Research has published a new report titled Conveyor Systems Market in Europe (Conveyor Components, Bulk Handling Systems, And Unit Handling Systems) for Automotive, Food & Beverages, Aviation, and Retail: Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.
The conveyor system is highly advanced mechanical material handling equipment. Mainly, it facilitates the materials handling, storage, and distribution of raw materials, loose components, and semi-assemblies between a manufacturing capacity's workstations. Conveyor systems are available in different types such as hydraulic, mechanical, and fully automated system within the market. Conveyor System helps for fast and efficient transportation for bulky materials. Conveyor systems are growing in popularity among end users owing to benefits associated with its use in the material handling and packing industries.
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The conveyor system helps to lower down the number of labors and reduce the cost of productivity is one of the significant factors that is expected to drive the conveyor system market in Europe. Thus, the conveyor system is the fastest and safe mode of transportation of bulk materials within a premise. At present, the industrial segment requires the automation to increase the productivity within less time that invokes the need of conveyor system on large scale.
Key end-user segments served by the conveyor systems include retail, food & beverage, aviation, and others (automotive and airport baggage-handling). The automotive industry was the leading industry for the conveyor system market in 2014. Assembly line, paint shop, and body shop are key application segments of conveyor systems in the automotive industry. The retail sector is growing segments due to its help to reduce the manual handling of distribution and warehousing, sorting, cross-docking, and distribution and is expected to increase for the forecast period in the market.
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The growth of automotive, food and beverages, retail and aviation industry in the region is expected to trigger the further growth of the conveyor systems industry. The Key Players in Europe conveyor system market which are a more promising industry which use to give the strategic activities includes Dematic Group, Siemens, SSI Schaefer, and Swisslog Holding. Other key industry participants in the conveyor system market in Europe include Caterpillar, Daifuku, Dorner Conveyors, Eisenmann, Emerson Electric, Fives Group, Flexlink, Interroll, Mahindra Conveyor Systems', Murata Machinery, Redler, RUD, Shuttleworth, Taikisha, and Vanderlande.