Conveyor System Market worth USD 12.7 billion by 2027

The global conveyor system market size is projected to reach $12.7 billion by 2027, from an estimated value of $9.4 billion in 2022, at a CAGR of 6.0%. The growing need for efficiently handling large volumes of materials and products in the manufacturing industry has increased the demand for industrial automation. A conveyor system is an important part of the material handling process and is involved in every industrial step. The growth of the conveyor system market is influenced by factors such as industrial growth, expansion, modernization of industries, and product and process-specific conditions.
Rapid growth in e-commerce
The increasing popularity of online shopping is the key factor boosting the growth of the e-commerce industry. E-commerce companies such as Flipkart (India) and Amazon (US) are extremely popular among online shoppers. Thus, they need to stock large volumes of products in their warehouses. E-commerce companies also need to offer order accuracy, same-day same-hour delivery, and free returns to compete. Thus, e-commerce companies are constantly looking for economical ways to reduce their delivery times. Digitization in material handling equipment such as automated storage and retrieval systems (ASRS) and automated conveyors has emerged as a comprehensive solution. It has gained popularity among e-commerce companies, helping them handle order fulfillment processes efficiently. As demand for online purchasing continues to increase, the demand for conveyor systems in the e-commerce industry is expected to witness significant growth in the near future.
The acquisition of Kiva Systems (US), a leading innovator of material handling technology, by Amazon (US) revolutionized robotics in the fulfillment centers of online retailing companies. As the conveyor system is one of the most commonly used sortation systems, the growth of the e-commerce industry is expected to boost the market for conveyor systems.
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Green Conveying
Green conveyors are a three-fold concept that involves lower energy consumption, minimizing the amount of material used in conveyors, and maximizing the positive human impact of these systems, such as lower noise and increased safety for employees. Green conveyors help manufacturers save money and address the pressing problem of climate change by lowering carbon emissions. The use of conveyor controls such as the sleep mode, where the motors turn off to save energy when the belt is not in use, or variable speed controls can significantly help transform existing conveyor systems into greener versions. According to a German Federal Environmental Agency study, electric motors account for more than 60% of Germany’s power consumption in industrial manufacturing. Hence, high-efficiency motors can significantly reduce the electricity consumption of conveyor systems, making them green conveying solutions.
Key Market Players
Daifuku Co., Ltd. (Japan), Continental AG (Germany), Siemens AG (Germany), and Fives Group (France) are some of the leading manufacturers of conveyor system in the global market. These companies developed new products; adopted expansion strategies; undertook agreements, partnerships, and supply orders; and used acquisitions to gain traction in the conveyor system market.
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