Conveyor System Market size is anticipated to cross USD 29.5 Billion by the end of 2035, growing at a CAGR of 9% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of conveyor system was over USD 10.49 Billion. The growth of the market can be attributed to the increasing number of e-commerce companies across the globe. Furthermore, e-commerce companies are trying to provide the best experience to their customers by providing their orders at an accurate time, day, and place. Therefore, the conveyor system assists these companies in the warehouse through handling all their orders, and it is expected to boost the growth of the market over the forecast period. By the end of 2025, it is expected that retail e-commerce sales across the globe to reach more than USD 7,000 Billion.
A conveyor system refers to mechanical handling equipment that is used to move materials from one to another locations. They are popularly used for the transportation of high load materials, as they are difficult to carry. There has been continuous advancement in the conveyor system through different means, such as portable conveyors. In addition to these, factors that are believed to fuel the market growth of conveyor systems include the increasing use of conveyors in different industries such as the logistics, parcel, and automation industries. The logistics and parcel delivery industries use portable conveyors, also known as mobile line shaft conveyors, as it shortens production time and lowers overall costs.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
9% |
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Base Year Market Size (2022) |
USD 10.49 Billion |
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Forecast Year Market Size (2035) |
USD 29.5 Billion |
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Regional Scope |
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Industry (Food & Beverage, Automotive, Retail & Distribution)
The global conveyor system market is segmented and analyzed for demand and supply by industry into food & beverage, automotive, retail & distribution, and others. Out of these industries, the automotive segment is expected to hold a significant share over the forecast period on the back of growing production of vehicles, and the rising popularity of electric vehicles. Furthermore, the automotive plants opt for overhead conveyers owing to its capacity of carrying high load, along with the improvement in the production rate of the plant. Therefore, it is anticipated to rise the segment’s growth in the market. According to estimates, the number of electric vehicles that include electric vans, buses, cars, and heavy trucks on the road is expected to reach more than 145 million by the end of the year 2030. Furthermore, the final vehicles that are produced are difficult to carry from the production area to the transport area, and it is expected to boost the growth of the segment in the market over the forecast period.
Type (Cable, Bucket, Belt, Roller, Overhead, Pallet, Floor)
The global conveyor system market is also segmented and analyzed for demand and supply by type into cable, bucket, belt, roller, overhead, pallet, floor, and others. Amongst these three segments, the belt segment is expected to garner a significant share by the year 2035. The growth of the segment can be attributed to the development of airports in different countries that require easy to install and little maintenance belts for baggage collection, and screening. Moreover, they are easy to handle, and can be customized according to the customer’s need, that is anticipated to boost the growth of the segment in the market. Furthermore, it allows to move objects that are bulky from one place to another such as metals in the mining industry with ease, and also saves time on transportation.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Industry |
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Europe Market Forecast
The share of conveyor system market in Europe, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035. The growth of the market can be attributed majorly to the increasing use of technologies such as IOT, and artificial intelligence in the manufacturing units. Furthermore, there is a need to reduce the labor costs, that is further predicted to drive the market’s growth in the region. In addition, the presence of large automotive companies in the region is anticipated to expand the conveyor system market in the region. Furthermore, there have been strict regulations in relation to the safety of the employees that are working in the manufacturing unit, such as in the automotive industries. According to the European Commission, atleast 2.6 million people work in the direct manufacturing of motor vehicles. Therefore, there is a need for a conveyor system in order to compile different parts of the motor vehicle. Hence, it is anticipated to boost the growth of the market in the European region.
APAC Market Statistics
The Asia Pacific conveyor system market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. The growth of the market can be attributed majorly to the increasing demand from manufacturing industries to automate their processes, and the surging development among various industries such as airports, automobiles, mining industries, and others. In addition, there has been a growing demand for products from consumers, which is putting pressure on the companies to provide their products at the right time with lower cost. Moreover, surging adoption of industry 4.0, and the implementation of automation are further anticipated to boost the growth of the market in the region.
North American Market Forecast
Further, the conveyor system market in the North America amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the surging problem faced by the industries related to the heavy traffic on conveyors. Moreover, the surging industrialization in the region, which requires conveyors in their production processes, is further estimated to rise the growth of the market in the region.
KUKA AG announced the new conveyor technology in order to transport the car bodies safely with KUKA BOLT and KUKA PULSE. Moreover, the new generation of KUKA PULSE is faster, use less energy and lower the MTTR for which it is more flexible than the friction based conveyance systems
Intralox, L.L.C. announced the launch of new Sinamics G115D distributed drive system that is specifically designed for conveyor applications. Furthermore, the G115D comprises of frequency converter, motor, and gear box.
Author Credits: Rushikesh, Richa Gupta
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