Global Conveyor Systems Market with Manufacturers, Countries, Type and Application, Forecast to 2023, New Research Report Announced by QY Research. The report Contain Segmentation, Current Trends, Emerging Challenges, Strategic Alliances.
City of Industry, CA -- (SBWIRE) -- 06/11/2018 -- Currently, there are many producing companies in the world Conveyor Systems industry, especially in North America, Europe and Asia regions. The main market players are Daifuku, Ssi Schaefer, Dematic Group, Bosch Rexroth, Caterpillar, Murata Machinery, Vanderlande and so on. The consumption value of Conveyor Systems is about 12.5 billion USD in 2016, and is 16.6 billion USD in 2022.
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The airport segment is projected to grow at the highest CAGR during the forecast period. The demand for conveyor systems in the airport industry is influenced by the increase in the number of terminal expansions, growing number of airports, rise in passenger traffic, and increasing necessity of efficient baggage transportation. People now prefer travelling by air to save time, thus, increasing passenger traffic at airports. Asia-Oceania is expected to be the largest market for conveyor system application in airports due to the increased passenger traffic in countries such as China, and India.
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Conveyor systems are mechanically-operated material handling equipment, which are used to transport material within premises. They provide a quick and effective transportation solution with a high degree of safety. Therefore, due to effectiveness of conveyance, a considerable amount of cycle time is reduced in the industrial process. The same factor helps in reducing the errors in handling manual material. Early commercialization of the conveyor system took place for transportation of heavy materials in the industrial sector.
Asia-Oceania is estimated to dominate the conveyor system market, and is projected to grow at the highest CAGR during the forecast period. The growth in Asia-Oceania is attributed to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. Factors such as reduced human effort, increased efficiency, and decreased product loss, are driving the demand for conveyor systems. For countries like India and Japan, the consumption pattern of the people is changing. The rising middle class population has meant that the need for conveyor systems are increasing in order to cater to these consumers.
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Conveyor Systems Competitive landscape and key vendors
Mahindra Tsubaki Conveyor Systems