The global conveyor system market is anticipated to witness a growth at 2.9%, generating an absolute $ opportunity surpassing US$ 3.1 Bn. It is projected to surpass US$ 12.9 Bn by the end of the forecast period (2021–2031).
Conveyor systems are important for transporting materials from one area to another in commercial and industrial facilities, as it reduces the production time and total costs.
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Key Takeaways of Conveyor System Market Study:
The global conveyor system market is projected to create an absolute $ opportunity of more than ~US$ 3.1 Bn and is anticipated to grow at a value CAGR of 2.9% during the forecast period.
By product, conveyor belts are projected to grow at a value CAGR of 2.7%, and will be valued 1.6X more than roller conveyors by the end of 2020.
East Asia is expected to emerge as the fastest growing conveyor system market and is projected to surpass a market valuation of ~US$ 2.6 Bn by the end of 2030.
Packaging & Warehouse Distribution is projected to grow at a value CAGR of ~3.5% and is expected to create an absolute value opportunity of US$ 973.2 million.
Key Segments of the Conveyor System Market
Product
Belt Conveyor System
Roller Conveyor System
Pallet Conveyor System
Overhead Conveyor System
Tri-Planar Conveyor System
Crescent Conveyor System
Skid Conveyor System
Trailer Conveyor System
Other Conveyor Systems
Operation
Manual Conveyor System
Semi-Automatic Conveyor System
Automatic Conveyor System
Capacity Type
Unit Handling Conveyor System
Bulk Handling Conveyor System
End Use
Conveyor System for Packaging & Warehouse Distribution
Conveyor System for Textile & Paper
Conveyor System for Construction & Mining
Conveyor System for Automotive & Transportation
Conveyor System for Consumer Electronics
Conveyor System for Food & Beverages
Conveyor System for Chemicals & Pharmaceuticals
The report covers following Conveyor System Market insights and assessment that are helpful for all participants involved in the Conveyor System Market:
Data on recently introduced regulations and their impact on key industries and on demand in Conveyor System Market
Latest industry Conveyor System Market with key analysis of market drivers, trends, and influencing factors
Key trends Analysis of Conveyor System Market and changing consumer preferences in major industries.
Changing Conveyor System Market demand and consumption of diverse products
Major trends underlining funding by key investors in numerous countries
New investment opportunities in diverse technology and product or service types
Comprehensive data and Competitive analysis of Conveyor System Market major players
Conveyor System Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
Conveyor System Market demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth