This report provides detailed impact analysis and information on key drivers, restraints, and opportunities.
Portland, OR -- (SBWIRE) -- 02/26/2018 -- Conveyor Systems Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $7,573 million by 2022, registering a CAGR of 4.3% during the period 2016-2022. Europe is expected to dominate throughout the forecast period due to boost in the e-commerce retail industry. Asia-Pacific region is expected to grow at the fastest rate owing to extensive demand from china and India.
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Global conveyor system market has been witnessing a steady growth across the world on account of growing automation trends among the manufacturing industries. Recent boom in e-commerce has emerged as a boon for the industry with widespread demand for process automation across the world. The e-commerce industry players are focusing on improving the quality of their service through minimal waste and increased production efficiency. Moreover, the growth of retail and automotive industry has fueled the global conveyor systems market. In developing nations, industrialization and modernization have primarily supported the market growth. For instance, modernization at airports to improve the baggage handling systems at check-in and collection areas has increased the conveyor systems in airport sector. Government initiatives to increase the manufacturing output has in India and Brazil has created additional demand of conveyor systems.
Conveyor Systems Market Key Segments:
Global conveyor systems market is segmented based on type, industry vertical and geography.
Market by Type
- Others (Floor, Crescent, Tri-planer)
Market by Industry Verticals
- Food and Beverages
Market by Geography
- North America