Conveyor systems market share to be worth $12.7 billion by 2027

global conveyor system market It is projected to reach $12.7 billion by 2027, at a CAGR of 6.0%, from an estimated $9.4 billion in 2022. The growing need for manufacturing industries to efficiently process large quantities of materials and products is driving demand for industrial automation. Conveyor systems are an important part of material handling processes and are involved in every stage of industry. The growth of the conveyor systems market is influenced by factors such as industrial growth, expansion, industrial modernization, product and process-specific conditions.

Rapid growth of e-commerce

The growing popularity of online shopping is a key factor driving the growth of the e-commerce industry. E-commerce companies like Flipkart (India) and Amazon (US) are very popular among online shoppers. Therefore, we need to store large quantities of products in our warehouses. To compete, e-commerce companies must also offer order accuracy, same-day, same-hour delivery, and free returns. Therefore, e-commerce companies are always looking for economical ways to reduce delivery times. Digitalization of material handling equipment, such as automated storage and retrieval systems (ASRS) and automated conveyors, is emerging as a comprehensive solution. It is gaining popularity among e-commerce companies and helps them handle the order fulfillment process efficiently. As the demand for online purchases continues to increase, the demand for conveyor systems in the e-commerce industry is expected to experience significant growth in the near future.

Amazon’s (US) acquisition of Kiva Systems (US), a leading innovator in material handling technology, has revolutionized robotics in the online retailer’s fulfillment centers. The growth of the e-commerce industry is expected to expand the market for conveyor systems, as they are one of the most commonly used sorting systems.

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green conveyance

Green conveyors maximize the positive human impact of these systems, including reducing energy consumption, minimizing the amount of material used in conveyors, reducing noise and improving employee safety. It consists of three concepts: Green conveyors help manufacturers address the pressing issue of climate change by saving costs and reducing carbon emissions. Using conveyor controls such as sleep mode and variable speed control, where the motor turns off when the belt is not in use to save energy, can go a long way in transforming your existing conveyor system into a more environmentally friendly version. According to a study by the German Federal Environment Agency, electric motors account for more than 60% of the electricity consumption in industrial production in Germany. Therefore, the high efficiency motor can significantly reduce the power consumption of the conveyor system, resulting in an environmentally friendly conveyor system.

Certain regulatory changes are causing manufacturers to consider implementing energy efficiency. In 2020, the European Federation for Material Handling (FEM) partnered with the Karlsruher Institute of Technology and the Institute of Logistics Technology to form a common standard for predicting the energy consumption of material handling systems. This may lead to specific energy legal assessments and benchmarks. Future consumption standards. In the United States, Leadership in Energy and Environmental Design (LEED) provides certification and is accepted as a national benchmark for green buildings. With changes in regulations, manufacturers of various conveyor systems are expected to increasingly focus on introducing a large number of green conveyors into their product portfolios, and this is expected to increase sales of conveyor systems.

Europe is predicted to be the largest market.

The European market is predicted to be the largest by 2027. Europe has been an early adopter and has seen widespread application of conveyor systems in several industries. Conveyor system manufacturers in the region have invested heavily in research and development for technological innovations to remain competitive in the market. Germany and the UK are at the forefront of industrial research and engineering. Extensive research and development infrastructure, a highly qualified workforce, and full integration of the industry’s value chain create an environment in which companies can develop cutting-edge technologies. Production levels in the food, retail and distribution, automotive and aviation industries are experiencing significant growth in Europe and are expected to increase further in the future.

major market players

Daifuku Corporation (Japan), Continental AG (Germany), Siemens AG (Germany) and Fives Group (France) are leading manufacturers of conveyor systems in the global market. These companies have developed new products. Adopted an expansion strategy. We have signed contracts, partnerships and supply orders. and used acquisitions to gain traction in the conveyor systems market.

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