North America Conveyor System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by System Type, Belt Type, and Industry

Belt Segment to Dominate North America Conveyor System Market during 2019-2027

According to a new market research study on “North America Conveyor system Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast by System Type, Belt Type and Industry” is expected to reach US$ 2,747.41 million by 2027 from US$ 1,963.15 million in 2019. The market is estimated to grow at a CAGR of 4.5% from 2020 to 2027. The report provides trends prevailing in the North America conveyor system market along with the drivers and restraints pertaining to the market growth. Blooming E-commerce industry to bolster the demand for conveyor systems is the major factor driving the growth of the North America conveyor system market. However, issues associated with growing environmental issues due to impact of mining activities hinders the growth of North America conveyor system market.

The North America conveyor system market is segmented into system type, belt type, industry, and country. Based on system type, the North America conveyor system market is segmented into the overhead, floor, roller, belt, and others. Belt segment held the largest market share of North America conveyor system market in 2019. Based on belt type, the North America conveyor system market is segmented into the light, medium, and heavy. Medium segment led the North America conveyor system market in 2019. Based on industry, the North America conveyor system market is segmented into food & beverage, automotive, airports, logistics, metals & mining, and others. Others segment held a substantial share of North America conveyor system market during the forecast period.

Also North America is severely affected by the COVID-19 pandemic. North America is one of the significant regions for the adoption and growth of advanced technologies due to favorable government policies to accelerate innovation, a huge industrial base, and high purchasing power, especially in developed countries, such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region negatively. The US is a prominent market for the conveyor systems, especially in the logistics sector. The huge increase in number of confirmed cases and rise in reported deaths has affected this industry. The factory and business shutdowns across the US, Canada, and Mexico are impacting the adoption of the conveyor system market. COVID-19 has had a severe impact on logistics operations, transportation, and trade activity. Owing to this pandemic, the manufacturing sector is facing dormancy because of the business shutdown. The companies resuming their manufacturing facilities face scaled-down production for conveyor belt systems due to a massively affected supply chain. This would hinder the adoption of conveyor systems in the region. The impact of the coronavirus outbreak is anticipated to be quite severe in the year 2020 and likely in 2021. However, online retailing and food businesses have boosted sales in the region. Consumers are spending on products that would help them manage the COVID-19 crisis. The impact of COVID-19 is short-term; it is likely to decrease in the coming years.

Daifuku Co., Ltd., DEMATIC, Emerson Electric Co., Honeywell Intelligrated, Interroll Holding, GmbH, Siemens AG, SSI Schäfer, Swisslog, TGW Logistics Group, Vanderlande Industries B.V. are among the leading companies in the North America conveyor system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Siemens launched a new compact and powerful drive system specifically designed for horizontal conveyor applications. The drive system comprises a motor, frequency converter, and gearbox.

The report segments the North America Conveyor System Market as follows:

By System Type

• Overhead
• Floor
• Roller
• Belt
• Others

By Belt Size

• Light
• Medium
• Heavy

By Industry

• Food & Beverage
• Automotive
• Airports
• Logistics
• Metals and Mining
• Others

By Country

• US
• Canada
• Mexico

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America conveyor system market
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• The key findings and recommendations highlight crucial progressive industry trends in the North America conveyor system market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth North America market trends and outlook coupled with the factors driving the conveyor system market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution