Conveyor System Market

[355 Pages Report] The global conveyor system market is projected to grow from USD 10.44 billion in 2024 to USD 14.81 billion by 2030, registering a CAGR of 6.0%. Conveyor systems are in high demand across diverse industries, including aviation, automotive, retail & distribution, food & beverage, and mining, driven by advancements in automation, modular design, and sensor-driven operations. Automation has increased productivity for conveyor systems while reducing labor costs and errors. Modular designs are easily extended or reconfigured to suit changing industrial requirements due to their adaptability. Meanwhile, real-time data is delivered through sensor-driven processes that maximize output and minimize downtime. Modern driving technologies and componentry are evolving, boosting conveyor systems’ potential and effectiveness to meet the ever-changing needs of contemporary industry.

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MARKET DYNAMICS

Driver: High demand for conveyor systems from e-commerce industry

The rise in online purchases has led to the significant growth of the e-commerce industry. Flipkart (India) and Amazon (US) are the two major players in this industry. These companies need to maintain a large inventory in their warehouses. They must also provide delivery accuracy, same-day delivery, and free return policies. Consequently, they are looking for low-priced material handling solutions to reduce the time intervals for their delivery. Automated storage and retrieval systems (AS/RS) and conveyors have emerged as comprehensive solutions. For instance, FMH Conveyors (US), a renowned manufacturer of conveyors, made its debut with a new conveyor system designed for easy reconfiguration in April 2023. This system aims to enhance speed and efficiency during loading or unloading processes as well as sorting by enabling fast joining, disjointing, and rearranging of the conveyor lines.

Restraint: High installation and maintenance costs

A conveyor system can enhance the efficiency of a company’s production process or warehouse. However, implementing these systems may incur substantial costs, such as utility bills for electricity and maintenance requirements for hardware and software during operation. Moreover, the reliance on technology and machines introduces additional expenses, such as software and services, as well as advanced devices used in the installation phase. Investments in automated conveyor systems could be challenging for small and medium-sized firms seeking to expand their businesses.

Opportunity: Integration of lean logistics principles

The lean management principle focuses on maximizing customer value while minimizing waste. This plays a pivotal role in the logistics industry. Lean logistics involves the identification and elimination of wastes in the supply chain by separating value-adding processes from non-value-adding ones. The objective is to enhance product flow and speed by streamlining processes and optimizing the supply chain. To achieve this, efficient systems such as conveyors, automated storage and retrieval systems (AS/RS), and automated guided vehicles, among others, are employed to improve inventory and material management, which is crucial for the control of the supply chain. By integrating these principles with automation, industries can achieve more productivity, propelling the demand for advanced conveyor systems forward. In 2023, Get-inge (Sweden) launched a fully automated load system for terminal sterilizers. The safety components of a terminal sterilization cycle involve repetitive strain that may occur whenever large loads are lifted, pulled, or pushed, besides accidental damage caused by cranes or other machinery during loading into the autoclave chamber.

Challenge: Significant presence of local players in emerging markets

The conveyor system market is highly competitive, subject to the presence of different international players and local suppliers. Small to medium-sized companies serve as an essential part of Australia, China, and Africa, benefiting from abundant mining deposits. These companies offer smaller or tailored conveyor solutions as they are easier for customers to access and have better after-sales services. Conversely, bigger players in this market concentrate mainly on institutional purchases with high value, such as those that involve conveyor systems used in airport operations or automating manufacturing plants. This prevents prominent conveyor system firms from penetrating small-scale markets.

ECOSYSTEM ANALYSIS

The conveyor system market ecosystem comprises raw material suppliers, component/part manufacturers, control unit manufacturers, and OEMs. Conveyor system manufacturers procure parts/components, particularly machined & precision engineering components, from suppliers and design a tailored conveyor solution. Part manufacturers include companies that provide driving units, rubber belts or carriage equipment, aluminum profiles, and control units. Most conveyor system manufacturers in the industry manufacture their precision-engineered components in situ, whereas regional players collaborate with the vendors for their supplies, which are assembled at the former plant per the requirements.

Floor conveyors to exhibit fastest growth by type

Floor conveyors are a cost-effective alternative to load-carrying trucks when moving goods from one place to another or performing other programmed movements necessary for manufacturing. These conveyors are equipped with sensors to detect and track items throughout the system, enabling instant feedback and system management, thereby enhancing control over the flow of goods. Their modular design also simplifies expansion or reconfiguration based on the specific needs of warehouses and production facilities. Thus, floor conveyors witness rapid adoption in both manufacturing and assembly sectors, which heavily rely on precision tracking during component assembly and production operations. Smart floor conveyors can further enhance efficiency by ensuring accessibility at assembly stations, thereby reducing the probability of errors.

Automatic conveyor systems to exhibit fastest growth by operation

Automatic conveyor systems offer multiple benefits over manual ones. The automation of material handling processes has decreased labor costs, making operations simpler and enabling personnel to concentrate on more critical tasks. These conveyors also enable accuracy, repeatability, and speed improvements while eliminating human mistakes and reducing manufacturing ineffectiveness. Moreover, automatic conveyors can transport larger quantities of materials faster than their manual counterparts, thereby increasing production volumes and enabling quicker deliveries. This primarily applies to industries with high-quality standards, such as pharmaceuticals. For instance, in March 2021, Tesla (US) opened the Gigafactory in Berlin to manufacture cells in-house together with electric vehicles.

Underground mining to exhibit fastest growth by mining application

Mining companies are expanding their underground operations to access larger quantities of minerals such as gold, copper, and other rare earth metals. The global demand for cleaner energy has increased the need for rare earth minerals, which are primarily extracted from deep mines and used in the manufacturing of batteries, electric cars, and renewable energy technology. The surge in underground mining projects can be further attributed to technological advancements in automation and safety. These factors propel the market for underground mining conveyor systems forward.

Asia Pacific to exhibit fastest growth by region

In Asia Pacific, industries such as automotive, food & beverage, and aviation are experiencing rapid infrastructure development and technological advancements, generating a high demand for conveyor systems. Aviation is among the fastest-growing industries in the region, with China significantly contributing to its growth. In January 2022, the country announced plans to construct 215 new airports by 2035 due to increasing passenger air and cargo transportation, as well as expanding tourism and economic growth (Source: Bureau of Transportation Statistics, 2022). Similarly, the automotive industry in Asia Pacific has recorded substantial growth, particularly in countries such as China and India. These countries have become a production hub for motor vehicles, attracting global investors due to low labor costs and high vehicle purchases. In response, prominent manufacturers such as BMW (Germany) and Volkswagen Group (Germany) have established their production facilities in Asia Pacific. Collectively, these factors drive the demand for conveyor systems, making it the fastest-growing region in the global market.

Key Market Players

The conveyor system market is dominated by players such as Siemens AG (Germany), Continental AG (Germany), Daifuku Co., Ltd. (Japan), Fives Group (Paris), and Taikisha Ltd (Japan), among others. These companies develop innovative products, adopt expansion strategies, and undertake collaborations, partnerships, and mergers & acquisitions to strengthen their position in the market.

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Scope of the Report

This research report categorizes the Conveyor System  market based on By inudstry type, By component type, operation Type,  By technology, and Region

CONVEYOR SYSTEM MARKET, BY TYPE

• INTRODUCTION
• BELT
• ROLLER
• TRI-PLANAR
• CRESCENT
• PALLET
• OVERHEAD
• FLOOR
• BUCKET
• CABLE
• Others
• KEY PRIMARY INSIGHTS

CONVEYOR SYSTEM MARKET, BY COMPONENT

• INTRODUCTION
• ALUMINUM PROFILE
• DRIVING UNIT
• EXTREMITY UNIT
• KEY PRIMARY INSIGHTS

CONVEYOR SYSTEM MARKET, BY OPERATION

• INTRODUCTION
• MANUAL
• SEMI-AUTOMATIC
• AUTOMATIC
• KEY PRIMARY INSIGHTS

CONVEYOR SYSTEM MARKET FOR AIRPORT INDUSTRY, BY CONVEYOR TYPE

• INTRODUCTION
• BELT
• CRESCENT
• TRI-PLANAR
• OTHERS
• KEY PRIMARY INSIGHTS

CONVEYOR SYSTEM MARKET FOR AIRPORT INDUSTRY, BY CONVEYOR TYPE

• INTRODUCTION
• BELT
• ROLLER
• PALLET
• OTHERS
• KEY PRIMARY INSIGHTS

CONVEYOR SYSTEM Market FOR MINING INDUSTRY, BY CONVEYOR TYPE

• INTRODUCTION
• BELT
• CABLE
• BUCKET
• OTHERS
• KEY PRIMARY INSIGHTS

MINING CONVEYOR SYSTEM MARKET, BY APPLICATION

• INTRODUCTION
• OPEN PIT MINING
• UNDERGROUND MINING
• KEY PRIMARY INSIGHTS

MINING CONVEYOR SYSTEM MARKET, BY TECHNOLOGY

• INTRODUCTION
• DRIVE
• GEARLESS
• AUTOMATION
• KEY PRIMARY INSIGHTS

CONVEYOR SYSTEM MARKET FOR AUTOMOTIVE INDUSTRY, BY CONVEYOR TYPE

• INTRODUCTION
• FLOOR
• OVERHEAD
• ROLLER
• OTHERS
• KEY PRIMARY INSIGHTS

CONVEYOR SYSTEM market FOR ELECTRONICS INDUSTRY, BY CONVEYOR TYPE

• INTRODUCTION
• BELT
• ROLLER
• Others
• KEY PRIMARY INSIGHTS

CONVEYOR SYSTEM market FOR FOOD & BEVERAGE INDUSTRY, BY SUB-INDUSTRY

• INTRODUCTION
• MEAT & POULTRY
• DAIRY
• OTHERS
• KEY PRIMARY INSIGHTS

CONVEYOR SYSTEM Market, BY REGION

• INTRODUCTION
• ASIA PACIFIC
  • MACROECONOMIC OUTLOOK FOR ASIA PACIFIC
  • CHINA
  • JAPAN
  • SOUTH KOREA
  • INDIA
  • REST OF ASIA PACIFIC
• EUROPE
  • MACROECONOMIC OUTLOOK FOR EUROPE
  • GERMANY
  • FRANCE
  • ITALY
  • SPAIN
  • UK
  • RUSSIA
  • REST OF EUROPE
• NORTH AMERICA
  • MACROECONOMIC OUTLOOK FOR NORTH AMERICA
  • US
  • CANADA
  • MEXICO
• REST OF THE WORLD
  • MACROECONOMIC OUTLOOK FOR ROW
  • BRAZIL
  • SOUTH AFRICA
  • TURKEY

Recent Developments

• In April 2024, Walmart (US) collaborated with Swisslog Holding AG (Switzerland) to implement Swisslog’s storage automation technology at a facility in Texas alongside a state-of-the-art conveyor system. This collaboration aims to enhance operational efficiency and streamline logistics processes within the facility.
• In January 2024, HAI Robotics (China) integrated its automated storage and retrieval systems with Honeywell International’s enterprise software, enhancing warehouse efficiency and automation. This collaboration leverages Honeywell’s robust software capabilities to optimize HAI’s intelligent robotic solutions, streamlining operations and reducing manual labor. The integration also includes advanced conveyor systems, ensuring seamless material handling and faster processing times.
• In March 2024, Siemens AG (Germany) acquired the industrial drive technology business of ebm-papst (Germany) to strengthen its position in the industrial automation market. The acquisition includes a range of drive systems and components that complement Siemens’ existing portfolio, particularly enhancing its offerings in the field of efficient and innovative conveyor system solutions.

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