Conveyor System Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Conveyor System Market covers analysis by System Type (Overhead, Floor, Roller, Belt, and Others), Belt Type (Light, Medium, and Heavy), and Industry (Food & Beverages, Automotive, Airports, Logistics, Metals & Mining, and Others, and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Sep 2023

  • Report Code : TIPMC00002528
  • Category : Manufacturing and Construction
  • Status : Upcoming
  • No. of Pages : 173
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The conveyor system market size is expected to grow from US$ 8.86 billion in 2022 to US$ 12.94 billion by 2028; it is anticipated to grow at a CAGR of 5.8% from 2022 to 2028.

The e-commerce industry is growing massively across the globe, especially in the US. The country’s e-commerce is rising at an unprecedented adoption rate worldwide. As per the Census Bureau of the Department of Commerce, the US retail e-commerce sales accounted for US$ 160.3 billion for the first quarter of 2020, which depicted a growth of 2.4% from the fourth quarter of 2019. Hence, the rise in e-commerce industries in potential regions such as North America and APAC is propelling the business of conveyor systems and thereby impacting the conveyor system market. The conveyor system is one of the significant components of e-commerce for managing products such as poly bags, padded envelopes, totes, cases, and cartons. In the e-commerce business, conveyor system providers offer upgraded technology, scalability & flexibility, and efficiency to the end users. Rising usage of online retailing and changing consumer behavior toward purchasing are positively impacting the adoption of conveyor systems. If consumers buy something online and decide to return it for some reason, they anticipate the return process to be as rapid and convenient as the purchase process. For such processes, vendors require conveyor systems to move those products effectively. This aspect will contribute in accelerating the conveyor system market.

Further, to encourage the use of conveyor systems, companies are developing different technologies to enhance overall conveyor systems. For instance, in June 2022, Key Technology unveiled a better auto diverter for its Iso-Flo vibratory conveyors. The company’s auto diverter is appropriate for the bulk product and packaging distribution lines. Auto diverter depicts a stronger diverter blade, enhanced pneumatic hold-down system, and higher accuracy for better performance of the downstream systems. Such technological developments are projected to fuel the conveyor system market growth.

Strategic Insights

Regional Analysis of Conveyor System Market

From the regional perspective, Europe held the third-largest conveyor system market share in 2022. In terms of production, automobiles, rail, marine, chemical processing, aerospace equipment, machinery, food, and pharmaceutical goods are the key products manufactured by Europe. For the efficient production and supply of these products, the automotive, aerospace, food & beverages, chemical, and pharmaceutical industries in the region need advanced material-handling equipment. In contrast to old bulk handling practices, conveyor systems allow users to divert their resource allocation focus from unnecessary processes; this enables them to cut excessive costs incurred by traditional material-handling processes while saving the time spent on transporting materials between two assembly destinations. Gebhardt European Conveyor Systems, STB Engineering, BEUMER Maschinenfabrik GmbH, TMT spol, VIGAN Engineering S.A, and MODU Systems Europe Limited are among the key companies offering material handling equipment, including industrial conveyors. Moreover, BEUMER Group developed hybrid conveyor technology for port terminals in April 2022. Taking benefit of troughed overland belt conveyors and pipe conveyors, the company’s new U-Shape conveyor facilitates efficient and environmentally friendly operations at port terminals. The troughed belt conveyors are ideal for very large volumes and coarse materials.

Product development strategies by European companies are projected to continue and make Europe a significant conveyor system market share holder.

Lucrative Regions – Conveyor System Market Share

Lucrative Regions – Conveyor System Market Share Market Insights – Conveyor System Market

System Type-Based Insights

Based on system type, the conveyor system market is segmented into overhead, floor, roller, belt, and others. In 2022, the belt segment held the second-largest share in the conveyor system market. The belt system type is extensively used for the continuous transport of bulk materials. To ensure the reliability of the belt system type, maintenance activities are crucial. It has primarily helped to progress the industrial sector swiftly. Carrying materials has become easy and rapid due to this efficient mechanical device, which can carry heavy materials seamlessly. It is used to transport materials such as sand, grain, coal, ore, and salt. Its industrial applications include manufacturing, pharmaceutical, food & beverage, packaging, power plants, bakeries and confectioneries, textiles, laundries, flour mills, and chemical plants.

Further, with the rollout of vulcanized rubber, the materials used in conveyor belts have become sturdier and more adaptable. The use of vulcanized rubber for making conveyor belts will continue to rise. Use of new material for making conveyor belts will have a positive impact on conveyor system and thereby contributing towards the conveyor system market growth. Synthetic materials are also introduced with respect to the development of materials for producing conveyor belts. This material assists in making production more efficient. Owing to the gradually recovering economy during the pandemic recovery period, the production of goods in huge quantity got intensified. This factor has boosted the demand for conveyor systems for ensuring that proper production is going on. Additionally, with the advancements in robotics and computerization, conveyor belts are getting adopted quickly in many industries, including quarrying, mining, and consumer goods.

The conveyor system market players are mainly focusing on developing advanced and efficient products.

  • In April 2022, Fairbanks Scales rolled out a new FB9000 Series conveyor belt scale. The new scales are easy-to-install and reliable weighing solutions appropriate for the idler-style in-motion conveying applications. Rail, truck, barge, and ship loadout, track-mounted portable crushers, and asphalt milling machines are some of the key applications of conveyor belt scales.
  • In March 2022, Yokohama Rubber Co. Ltd (YRC) increased its conveyor belt production capacity in Hiratsuka City, Kanagawa Prefecture. At Hiratsuka Factory, this expansion is taking place to strengthen the industrial products business. The belts would be ideal for use cases demanding heat resistance, abrasion resistance, flame resistance, oil resistance, and less power consumption.

The conveyor system market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America. In 2022, APAC led the market with a substantial revenue share, followed by Europe. APAC is also expected to register the highest CAGR in the conveyor system market from 2022 to 2028.

Daifuku Co. Ltd., Dematic, Emerson Electric Co., Honeywell Intelligrated, Interroll Holding GmbH, Siemens AG, SSI Schafer, Swisslog Holding AG, TGW Logistics Group, and Vanderlande Industries are among the key players operating in the conveyor system market. The market report provides detailed market insights, which help the key conveyor system market players strategize growth in coming years.

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

System Type, Belt Type, and Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

Which region led the conveyor system market in 2019?

APAC led the conveyor system market in 2019. Growing industrialization and availability of low-cost labor is encouraging gigantic multinational companies to move their plant operations in the Asian market, especially in countries such as China and India, which are the manufacturing hubs of APAC. The ongoing growth of manufacturing industries in Asian economies is driving the market for conveyor system.

Which factor is driving the conveyor system market?

In vehicle production plants, it is important to have high control and high-quality in all operations carried out in the industry; thus, the automotive industry is highly implementing conveyor systems in their vehicle production plants. The conveyor systems help vehicle production plants to keep control and have free space for new operations. As the conveyor system mitigates the labor work, it reduces the company’s investment on staff training. Thus, the rising vehicle production and growing adoption of conveyor systems in the automotive industry surges the growth of the market.

Which system type led the conveyor system market?

The belt is the leading conveyor system in the market. Belt system type is extensively used for continuous transport of bulk materials. In order to ensure the reliability of the belt system type, maintenance activities are crucial. It has primarily helped to progress the industrial sector swiftly. The process of carrying materials has become easy and rapid due to this efficient mechanical device, which can carry heavy materials seamlessly. It is used to transport materials such as sand, grain, coal, ore, and salt. The system effortlessly transports the huge volume of materials in less time. It can convey the materials both vertically and horizontally. It also helps to load the transported materials at the end of the production line and consumes less power. Its industrial applications include manufacturing, pharmaceutical, food & beverage, packaging, power plants, bakeries and confectioneries, textile, laundries, flour mills, and chemical plants.

The List of Companies - Conveyor System Market

  1. Daifuku Co., Ltd.
  2. Dematic
  3. Emerson Electric Co
  4. Honeywell Intelligrated
  5. Interroll Holding GmbH
  6. Siemens AG
  7. SSI Schafer
  8. Swisslog Holding AG
  9. TGW Logistics Group
  10. Vanderlande Industries B.V

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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