The global market is driven by handling the larger volume in the manufacturing & warehousing industries, as conveyor systems constitute a significant part of material handling systems. Conveyor systems are essential for continuous transport of items from one area to another in many commercial and industrial facilities, as it helps to reduce overall production time along with total labor costs significantly.
The global conveyor systems market is prophesied to expand at a CAGR of 4.6% through the forecast years, 2019-2026. Fortune Business Insights in a new report, titled “Conveyor Systems Market Size, Share and Global Trend By Type (Roller Conveyors, Flat Belt Conveyors, Wheel Conveyors, Vertical Conveyors & Other), By Location (In-floor Conveyors, On-floor Conveyors & Overhead), By Load (Unit Load & Bulk Load), By Application (Food & Beverages, Pharmaceuticals, Supply chain & Logistics, Manufacturing, Mining & Others) and Geography Forecast till 2026” predicts that the market is primarily driven by the large demand for conveyor systems across warehousing and manufacturing industries.
Conveyor systems play a crucial role in material handling equipment. Analysts in the report found that the global market was worth US$ 5,008.4 Mn in the year 2018 and is anticipated to reach US$ 7,169.0 Mn by 2026. These systems are used in the effective transportation of items from one place to another, which results in a significant reduction of labor costs.
LIST OF THE KEY COMPANIES PROFILED:-
Daifuku Co., Ltd.
Bastian Solutions, Inc.
Conveyor Systems Ltd
Interroll (Schweiz) AG
ATS Automation Tooling Systems Inc.
Toyota Industries Corporation
"E-commerce and Industry 4.0 are driving today’s Material Handling boom"
E-commerce and industry 4.0 are transforming traditional supply chains, compelling the companies to change the way they move, track, and store material by using technology & automation, creating the need for conveyor systems. Manufacturers, wholesalers, retailers, and logistics companies are establishing fulfillment centers and utilizing all available warehouse space, which aids the global market rise. For instance, Industrial Kinetics is supplying a pair of dual strand in-floor vehicle slat conveyors for a large vehicle manufacturer which will convey around 385 tons of vehicles, 250 tons of conveyor chains, and about 635 tons of materials. The conveyor systems market demand is because of the need for automating the complete manufacturing process.
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