Conveyor System Market Size was valued at USD 8.0 Billion in 2023. The conveyor system industry is projected to grow from USD 8.31 Billion in 2024 to USD 10.87 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.41% during the forecast period (2024 - 2032). Growing FDI investments in the automotive industry and worries about material safety are the key market drivers enhancing market growth. 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for conveyor systems is driven by the e-commerce business and is expanding mostly due to the rising popularity of online shopping. Online customers love e-commerce businesses like Amazon and Flipkart, which are based in the US and India. As a result, their warehouses must be filled with vast quantities of inventory. Order accuracy, same-day delivery, and free returns are additional requirements for e-commerce businesses to remain competitive. E-commerce businesses are, therefore, always looking for practical solutions to shorten delivery times. Conveyors and automated storage and retrieval systems (ASRS) are two examples of material handling devices that have undergone comprehensive digital transformation. Since it makes managing order fulfillment procedures more effective, it has grown in popularity among e-commerce businesses. Conveyor system demand in the e-commerce sector is anticipated to experience substantial development shortly as demand for online shopping keeps rising.
Additionally, certain legislative reforms encourage manufacturers to adopt energy efficiency. To create a standard for predicting the energy consumption of material handling systems, the European Federation of Materials Handling (FEM) joined forces with the Karlsruher Institut für Technologie & Institut für Föfdertechnik und Logistik in 2020. This standard could eventually result in legislative ratings or benchmarks for energy consumption standards. A certification program called Leadership in Energy and Environmental Design (LEED) offers certification and has developed into a nationally acknowledged standard for green buildings in the US. In response to legislative changes, it is projected that adding a sizable number of green conveyors to product portfolios would raise focus among different conveyor system manufacturers, which will enhance sales of conveyor systems.
The demand for intelligent mechanical handling equipment is driven by the requirement to automate the whole manufacturing process. Conveyor belt demand will increase as a result worldwide. The market is also growing significantly as a result of increased demand for handling more freight and increasing productivity, growing worldwide mining operations, and increasing passenger & freight handling capacity at airports. For instance, an e-commerce behemoth named Amazon.com, Inc. declared plans for two fulfillment centers in San Antonio in December 2020. increasing the installation of conveyor systems due to the material handling process. As a result, it is anticipated that throughout the projection period, demand for conveyor systems will increase due to the rising e-commerce sector. Thus, driving the conveyor system market revenue.July 2023: Daifuku Co., Ltd., a major player in the conveyor system industry, announced the development of an AI-powered conveyor system that optimizes material flow and reduces operational costs. This development indicates the growing trend of automation and integration of Industry 4.0 technologies within the conveyor system market.
The conveyor system market segmentation, based on type, includes belt conveyer, roller, pallet, overhead and others. The belt conveyer segment dominated the market, accounting for 41% of market revenue (3.15 Billion). Belt-type conveyors are frequently employed in airports because they are simple to install and maintain. According to expectations, these advantages make the belt the conveyor system's largest and fastest-growing market.
The conveyor system market segmentation, based on application, includes automotive, retail, food & beverages, airport, and others. The automotive category generated the most income (64.6%). In industries involved in every stage of industrial processes, conveyor systems play a crucial role in material handling. The main factor driving the ongoing expansion of conveyor usage across all industries is the combination of rising automation and falling total prices.
Figure 1: Conveyor System Market, by Application, 2022 & 2032 (USD Billion) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American conveyor system market area will dominate this market, owing to shifting consumer lifestyles, expanding employment prospects, and loosening government regulations on the conveyor system industry concerning the retail and distribution sectors.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CONVEYOR SYSTEM MARKET SHARE BY REGION 2022 (USD Billion) 
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Conveyor System market accounts for the second-largest market share due to manufacturers of proteins facing difficult manufacturing settings and strict food safety standards in the fastest-evolving sector of the economy, the meat and poultry business due to the abundance of food processing facilities in the UK, France, and Germany. Further, the German conveyor system market held the second largest market share, and the UK conveyor system market was the second largest growing market in the European region.
The Asia-Pacific Conveyor System Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the rising demand for vehicles. The automotive and other manufacturing sectors are expanding more quickly in the Asia-Pacific area, and nations like China are regarded as the production center and significant exporters to the rest of the globe. Moreover, the conveyor system sector's regional expansion is being fueled by top automakers such as BYD Automotive, Geely, Dongfeng, Volkswagen Group, and Ford Motor Co. Moreover, China’s conveyor system market held the largest market share, and the Indian conveyor system market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Conveyor System market, grow even more. Participants in the market are also engaging in a variety of strategic initiatives to footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The conveyor system industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the conveyor system industry to benefit clients and increase the market sector. In recent years, the conveyor system industry has offered some of the most significant medical advantages. Major players in the conveyor system market, including Daifuku, Dematic Group, Emerson Electric, Siemens AG, Allied Conveyor Systems, Caterpillar, Dorner Conveyors, Dynamic Conveyors, Fives Group, FMC Technologies, Interroll, and Intelligrated
Fives Dms SA designs and supplies machines and process equipment. Fasteners, washers, conveyors, gantries, fasteners, heat exchangers, cutting and grinding tools, and metalworking machine tools are among the items the company sells. In addition to serving the sugar industry, Fives Dms provides services to the aluminum, steel, glass, automotive, aerospace, logistics, cement, and mineral industries. For instance, in November 2021, Fives Group debuted the Hold Baggage Screening (HBS) technology. The handling solution consists of a conveyor system with a makeup luggage carousel that integrates two tomographic scanners of the most recent generations to process 800 bags per hour.
Engineering and manufacturing are two business segments of Siemens AG. The Company is heavily invested in digitalization, automation, and electrification. Siemens also offers engineering solutions in automation and control, power, transportation, and medical diagnosis. For instance, Siemens Logistics unveiled the first Misplaced Item Clearer (MIC) for cross-belt sorters at parcel sorting centers in September 2020. The apparatus employs sensors to find small, light objects unintentionally positioned between crossbelts. Using compressed air, MIC automatically pulls them into an outlet and eliminates them. As a result, consignments can be handled immediately without delaying sorter operations. MIC Express assists airport distribution centers with staying within the constrained time frames during which packages must be handled and distributed to subsequent planes.
Key Companies in the Conveyor System market include
October 2020: Fives was chosen by Austrian Post, a logistics and postal service provider, to automate a new Vomp distribution center. Unique Fives technologies including unique, GENI-Feed induction lines, and the GENI-Belt cross-belt sorter are incorporated into the new system. As the project's integrator, the company will provide the upstream, several chute kinds, a handling system for incompatible products, and software control for the entire system. The new automated handling system has a 10,000-item-per-hour sorting capacity.
February 2020: Introducing Sybercord Steel Cord technology was Continental AG. It offers conveyor belts using Sybercord steel cords as a tension component, which, when compared to a regular steel cord belt, offers a greater dynamical breaking load with a corresponding reduction of the cord diameter. The cord's design offers the best corrosion resistance. Compared to other steel cords used to make conveyor belts, Sybercord steel cords are also more flexible.
February 2022: ContiLoad Sense was unveiled by Continental AG. The system scans the material and conveyor belt from different angles in order to calculate the load and the location of the belt using 2D radar (radio detection and range) and ultrasonic technologies. This determines the precise amount of products being transported. In addition to requiring less maintenance, the radar sensor is also less vulnerable to environmental factors like dust, rain, and vibrations that can skew measurement findings.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 8.0 Billion |
| Market Size 2024 | USD 8.31 Billion |
| Market Size 2032 | USD 10.87 Billion |
| Compound Annual Growth Rate (CAGR) | 3.41% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Daifuku, Dematic Group, Emerson Electric, Siemens AG, Allied Conveyor Systems, Caterpillar, Dorner Conveyors, Dynamic Conveyors, Fives Group, FMC technologies, Interroll, and Intelligrated |
| Key Market Opportunities | Expanding industrialization |
| Key Market Dynamics | Growing FDI investments in the automotive industryWorries about material safety |
Frequently Asked Questions (FAQ) :
The conveyor system market size was valued at USD 8.0 Billion in 2023.
The market is projected to grow at a CAGR of 3.41% during the forecast period, 2024-2032.
North America had the largest share of the market
The key players in the market are Daifuku, Dematic Group, Emerson Electric, Siemens AG, Allied Conveyor Systems, Caterpillar, Dorner Conveyors, Dynamic Conveyors, Fives Group, FMC Technologies, Interroll and Intelligrated.
The belt conveyors belt category dominated the market in 2023.
Automotive had the largest share of the Conveyor System Market
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
