Conveyor System Global Market Report 2024

The global conveyor system market has grown strongly in recent years. It will grow from $9.21 billion in 2023 to $9.78 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth observed in the historical period can be attributed to the adoption of labor-saving devices, effective maintenance and after-sales services, enhanced supply chain efficiency, growing demand in emerging markets, and the implementation of cost reduction strategies.

The global conveyor system market is expected to see strong growth in the next few years. It will grow to $12.41 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The projected growth in the forecast period can be attributed to the adoption of automation and Industry 4.0 practices, the expansion of the manufacturing sector, optimization of warehouses, innovations in the retail sector, and a growing emphasis on sustainability and green logistics. Key trends expected in this period include increased integration with robotics, a focus on maintenance and after-sales services, rising demand in developing economies, considerations related to labor costs and efficiency, and the impact of globalization and trade on the industry.

The conveyor system market is poised for significant growth, driven by the rapid expansion of e-commerce. E-commerce, characterized by electronic buying and selling over the internet, has experienced substantial global growth, reaching $5.55 trillion in 2022. Conveyor systems play a pivotal role in the e-commerce sector, facilitating efficient and swift delivery of packages of various sizes. These systems are well-suited for handling diverse product capacities, ensuring speedy deliveries and enhancing overall operational efficiency. Latin America alone witnessed $85 billion in e-commerce sales in 2021, underscoring the pivotal role of conveyor systems in meeting the demands of the growing e-commerce industry.

The conveyor system market is set to benefit from the increasing production of vehicles. Conveyor systems play a crucial role in automotive manufacturing, facilitating the seamless transportation of materials, parts, and finished products across different stages of the production process. The European Automobile Manufacturers' Association reported a 5.5% increase in US passenger car sales to 11.9 million units in 2021, highlighting the robust growth in vehicle production. As conveyor systems continue to be integral to automotive manufacturing, the market is poised to witness sustained growth fueled by the expanding automotive industry.

Technological advancement emerges as a key trend in the conveyor system market, with major companies leveraging cutting-edge technologies to enhance their market position. Continental AG, a Germany-based industry player, introduced Conti Load Sense, a 2D radar-based conveyor monitoring system. This innovative system utilizes 2D radar technology to monitor materials and conveyor belts from multiple angles, accurately determining load and belt positions. Integration of ultrasonic technologies further enhances precision in determining the quantity of products being transported. The adoption of advanced technologies positions companies at the forefront of innovation, ensuring sustained competitiveness in the dynamic conveyor system market.

Innovation takes center stage in the conveyor system market, with major companies introducing next-generation solutions to gain a competitive edge. Omtech Food Engineering, an India-based manufacturer, unveiled a next-generation conveyor belt system designed to enhance food processing operations. These systems, categorized for manufacturing, food applications, parcel handling, and packaging sectors, incorporate application-specific designs and customizable belt options. The modular design minimizes the risk of damage or contamination during the movement of food products, emphasizing cleanliness and product safety throughout the conveying process. Next-generation conveyor systems contribute to increased efficiency, reduced downtime, and improved overall operational performance.

Strategic acquisitions are shaping the landscape of the conveyor system market. In June 2022, BEUMER, a Germany-based conveyor system manufacturer, acquired FAM Group, a Canada-based company specializing in conveyor systems. This strategic move expands BEUMER's product portfolio and reinforces its position in the conveyor system market. Such acquisitions enable companies to diversify their offerings and capitalize on emerging opportunities within the dynamic market landscape.

Major companies operating in the conveyor system market report are Daifuku Co. Ltd., Continental AG, Siemens AG, Taikisha Ltd., Fives Group, Kion Group AG, Toyota Industries Corporation, KUKA AG, Honeywell International Inc., Murata Machinery Ltd., TGW Logistics Group GmbH, Interroll Holding AG, Beumer Group GmbH & Co. KG, Viastore Systems GmbH, SSI Schaefer AG, Knapp AG, Mecalux SA, Witron Logistik + Informatik GmbH, Kardex Group, Terex Corporation, FlexLink AB, Dorner Mfg Corp., Hytrol Conveyor Co. Inc., mk Technology Group Inc., TGW Logistics Group, Conveyor Systems Ltd., Conveyor Units Ltd., ConveyorTek Ltd., LAC Conveyors & Automation Ltd., and Advance Automated Systems Ltd.

Asia-Pacific was the largest region in the conveyor system market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the conveyor system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the conveyor system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of conveyor systems include belt conveyors, roller conveyors, pallet conveyors, overhead conveyors, tri-planar conveyors, crescent conveyors, skid conveyors, trailer conveyors, and other specialized variants. A belt conveyor system typically consists of two or more pulleys with a closed loop of a carrying medium, known as the conveyor belt, rotating about them. Key components involve aluminum profiles, a driving unit, and an extremity unit. Conveyor systems can operate manually, semi-automatically, or automatically, and they find applications in various sectors such as retail, food and beverages, poultry and dairy, automotive, airports, and other industries.

This report provides conveyor system market statistics, including conveyor systems industry global market size, regional shares, competitors with a conveyor system market share, detailed conveyor system market segments, market trends and opportunities, and any further data you may need to thrive in the conveyor systems industry. This conveyor system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The conveyor system market consists of sales of cable, bucket, and floor conveyor systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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