Conveyor Systems Market Size, Share & Industry Analysis, By Type (Roller, Flat Belt, Wheel, Vertical Conveyors, and Others), By Location (In-floor, On-floor, and Overhead), By Load (Unit and Bulk Load), By Application (Food & Beverages, Pharmaceuticals, Supply Chain & Logistics, Manufacturing, Mining, and Others), and Regional Forecast, 2024-2032

The global conveyor systems market size was valued at USD 5.81 billion in 2023 and is projected to grow from USD 6.05 billion in 2024 to USD 9.26 billion by 2032, exhibiting a CAGR of 5.5% during the forecast period. The Asia Pacific dominated the conveyor systems market with a share of 34.08% in 2023.

A conveyor system is a part of mechanical handling equipment that is predominantly utilized to transport bulk or heavy materials across the facilities. It consists of a belt that is stretched across two or more pulleys.

Manufacturers were positively dealing by introducing new automated systems and partnering with regional companies to expand market presence, minimizing the COVID-19 impact on financial aspects. On a long-term basis, the global market is witnessing strong growth. It is predominantly attributed to the accelerated demand for food & beverages, pharmaceuticals, electronics and other products that fall under essential services.

The market's growth is driven by handling large volumes of goods in manufacturing and warehousing operations, as conveyor systems constitute a significant part of material handling systems. These systems are essential for the continuous transport of items from one area to another in many commercial and industrial facilities. They help reduce overall production time and total labor costs significantly. Therefore, manufacturers focus on automated material handling and movement in industries to make manufacturing processes more efficient.

Conveyor Systems Market Trends

Application of Smart & Innovative Technologies to Upscale Market Size

Ever since Mr. Henry Ford pioneered the implementation of conveyor systems to optimize efficiency and reduce costs in his automotive plants, these systems have become an indispensable cornerstone for mass production, product distribution, and material handling across various industries. Moreover, the integration of smart and innovative technologies such as RFID and barcodes has further enhanced these systems by enabling in-line scanning and dimensioning. Automated printing and labeling stations are seamlessly integrated into these systems, ensuring a continuous and systematic flow of orders and manufacturing processes.

The widespread adoption of conveyor systems, bolstered by their numerous advantages, has made them indispensable across industries. These systems have significantly benefited industries by minimizing production damage, increasing throughput speed and accuracy, and providing automated, adaptable, and modular platforms. With such advantages and applications, the global market share for conveyor systems is expected to experience a notable upsurge in the foreseeable future.

Additionally, as industries continue to prioritize efficiency, sustainability, and flexibility in their operations, the demand for advanced conveyor systems equipped with cutting-edge technologies and capabilities is projected to grow. Furthermore, the integration of artificial intelligence and machine learning algorithms into conveyor systems is poised to revolutionize manufacturing and logistics processes, further driving market expansion and innovation.

Conveyor Systems Market Growth Factors

Increasing E-commerce and Industry 4.0 are Driving Material Handling Boom

The landscape of traditional supply chains is undergoing a profound transformation driven by the rise of e-commerce and the advent of Industry 4.0. Companies are compelled to overhaul their approaches to material movement, tracking, and storage, leveraging advanced technologies and automation to stay competitive in the digital age. This shift has led to the establishment of fulfillment centers and the optimization of warehouse space by manufacturers, wholesalers, retailers, and logistics firms.

Moreover, the increasing demand for intelligent mechanical handling equipment stems from the imperative to automate entire manufacturing processes, enhancing efficiency and productivity. The growth trajectory of the e-commerce industry has further catalyzed the expansion of material handling processes within distribution centers and warehouses. Consequently, there is a heightened emphasis on seamless material flow from manufacturing units to distribution centers and warehouses, ensuring streamlined operations and the timely fulfillment of customer orders.

RESTRAINING FACTORS

Uncertainty in Global Trade to Hinder Market Growth

The recent outbreak of COVID-19 is anticipated to hamper the global conveyor systems market growth in the immediate future. Governments have reduced the global trade of non-essential products, thus limiting the sale of machines worldwide. This has restricted the conveyor systems’ operations thus, resulted in minimized demand across regions. Furthermore, due to the increasing spread of COVID-19, governments are imposing stringent lockdowns, decelerating overall economic activities. These factors have impacted the trading strategies of organizations, thus hampering the global conveyor system market size.

However, it is expected that these industries will witness a substantial boost, and the sales volume is anticipated to arise.

Conveyor Systems Market Segmentation Analysis

By Type Analysis

Constant Motion Conveying Ability to Portray Highest CAGR for Flat Belt Conveyors

Based on type, the market is segmented into roller conveyors, flat belt conveyors, wheel conveyors, vertical conveyors, & others.

Flat belt conveyors are the largest. The reason being they are endless, continuous belts used to convey materials or products in a constant motion. They are made from numerous materials including, plastics, rubbers, plastics, metal, fabric and leather. They convey different types of products via diverse types of belts, such as heavier loads requiring stronger & thicker belts.

Roller conveyors are expected to have a substantial market share. Roller conveyors are of two kinds, gravity-controlled rollers & powered rollers. Gravity-controlled rollers are used to transport products manually when placed horizontally, whereas belts and rollers are used to move materials in the case of powered roller conveyors. Depending on their deployed industry, both types of roller conveyors carry products and luggage in a straight or curved structure.

Due to their limited applicability, wheel conveyors, vertical conveyors, and other segments are likely to exhibit a moderate growth rate during the forecast period.

By Location Analysis

Industrial Utilization to Depict Highest Growth Rate for On-floor Conveyors

In terms of location, the market can be divided into in-floor, on-floor, & overhead conveyors.

In-floor and on-floor systems are installed at the floor level. The on-floor systems exhibit the highest CAGR as these are highly customizable and have various types suited to the customers’ needs. These systems have extensive applications at various end-use industries due to their wide acceptance for moving goods & products. In-floor systems are installed at predetermined places and are less customizable.

Overhead conveyors are mounted on ceilings, which use chains, cables, trolleys, or similar connections to move products from one place to another. These are used in industries where products are required to be hung, such as paint lines, part handling systems, dry cleaning garment lines, or for cooling/ cleaning jobs in the assembly line. Overhead conveyors include electric track, monorail, and trolleys. Mostly, these are powered and controlled or moved manually depending upon their application.

By Load Analysis

Organized Conveyance of Single or Multiple Items to Depict Highest CAGR for Unit Load Segment

Based on load, the market can be categorized into unit load & bulk load.

For bulk loads, the majority of the manufacturing industries, such as food & beverage and mining, among others, install this material handling solution. Thus, the bulk load segment is expected to hold a major market share. Bulk loads are carried depending on the material and its physical state, whether in solid-state, liquid, or gas, along with its packaging type. Unit loads are carried as a single item or multiple items, which are organized to be conveyed without disturbing their integrity.

By Application Analysis

Increasing Automation to Portray Highest CAGR for Supply Chain & Logistics Segment

Based on application, the market is segmented into food & beverages, pharmaceuticals, supply chain & logistics, manufacturing, mining, & others.

Conveyor systems constitute a vital part of the material handling process in industries involved in every step of industrial processes. Additionally, increasing automation with a reduction in overall costs is the primary reason behind the continuous increase in the adoption of conveyors in all industries.

The supply chain & logistics industry is expected to exhibit the highest growth rate for the forecast period among the end-use industries.

The variety in the application favors their adoption in automotive, retail, food & beverages, pharmaceuticals, and other applications such as public infrastructure such as airports, which are among the major driving factors for the market.

REGIONAL INSIGHTS

The Asia Pacific is in the best position to lead the market. The highest growth is attributed to the increased development across FMCG, automobile, airport and mining industries. Additionally, the region is expected to significantly impact growth due to a high concentration of manufacturing industries aiming to automate their manufacturing facilities, owing to a continuous rise in human-resource costs.

Moreover, these systems are expected to grow consistently even in developed countries with increasing automation and industry 4.0. Moreover, the rising demand for products from consumers has become a pressing concern for the manufacturer. This has resulted in implementing automation and an integrated manufacturing process to increase production, which in turn is augmenting the market growth.

Established Manufacturing Facilities to Portray Highest CAGR for China Market

China is home to manufacturing facilities of numerous global companies, accompanied by provincial automotive manufacturers, including BYD Automotive, Geely, Dongfeng, Volkswagen, Ford Motor Co., and others. Additionally, bulk material handling & storage systems facilitate the management of large volumes of data, thereby reducing unnecessary time consumption and fueling the growth of the market in the region.

The Europe & North America region is witnessing growth with the adoption of automation in the manufacturing units along with increasing penetration of advanced technologies, such as the Internet of Things (IoT), Radio-frequency identification (RFIDs), and Artificial Intelligence (AI). Rising labor costs and infrastructure limitations are expected to aid these regions in tightening their grip on the market share.

The Middle East & Africa, and Latin America markets are expected to have a moderate growth rate during the forecast period, owing to the increasing adoption of these systems in the warehouse & manufacturing facilities and the rising labor cost. These factors are compelling manufacturers to use sophisticated machinery and ensure high throughput quality in a shorter time. The Middle East & Africa, in particular, is witnessing heavy traffic for conveyors across manufacturing and supply chain & logistics industries, thus, bolstering its utilization across the GCC countries.

KEY INDUSTRY PLAYERS

Prominent Players Are Implementing Automation, Digitalization, and Industry 4.0 to Deeply Penetrate into the Global Market

The prominent players aim for the digital transformation of processes by concentrating a significant part of the research and development budget on digital production solutions. For instance, Dürr, a company that provides automation & digitization/Industry 4.0, has built up a complete infrastructure for digital business at an early stage. Its backbone is formed by the ADAMOS platform for the Industrial Internet of Things (IIoT). It is comparable to the operating system and collects large volumes of production data. Based on ADAMOS, the company offers machinery operating on digital services and apps to optimize its production.

Key Players in Market are intensifying their Regional Presence with Acquisition and Partnerships

Leading players are gradually intensifying their presence in the developing economies, making it tough for regional sellers to compete with them, especially in terms of quality and price point. These manufacturers are focusing on acquiring regional players and entering partnerships for enhanced market share. The market observes increased competition, which is anticipated to surge further during the forecast period.

LIST OF TOP CONVEYOR SYSTEMS COMPANIES:

• Dürr Group (Germany)


• ATS Automation Tooling Systems Inc. (Canada)


• Daifuku Co., Ltd. (Japan)


• viastore SYSTEMS GmbH (Germany)


• TOYOTA INDUSTRIES CORPORATION (Japan)


• FlexLink (Sweden)


• KION GROUP AG (Germany)


• ERIKS North America, Inc (U.S.)


• Taikisha Ltd. (Japan)


• Conveyor Systems Ltd (England)

KEY INDUSTRY DEVELOPMENTS:

• July 2023: Dematic announced the global launch of its Noise Reduction Portfolio, a comprehensive solution to address loud work environments across supply chain facilities. The offering included before and after 3D noise mapping audits throughout a facility, enhanced rollers, slats, and belt conveyors that could reduce noises at their source by up to 15 decibels.


• June 2023: Dematic launched the latest freezer-rated automated guided vehicles (AGVS), a third-generation model featuring sensor and navigation technology advancements that exceeded recently updated global safety standards.


• May 2023: SSI SCHAEFER launched a fully automated piece-picking system with numerous innovative features - the SSI Piece Picking application. This versatile solution, which included dedicated smart software, boasted advanced functions such as pick-and-place, object recognition using artificial intelligence (AI), a patented gripping point determination, and extremely gentle product handling.


• March 2023: Swisslog, a leading provider of best-in-class warehouse automation and software, announced the next generation of its CarryPick mobile robotic goods-to-person storage and retrieval system. The upgraded mobile robotic CarryPick platform delivered significantly improved operating speed.


• January 2023: The SSI SCHAEFER Group acquired DS AUTOMOTION GmbH, a leading provider of mobile robotics. Through the takeover, SSI SCHAEFER expanded the minority interest it had held since 2013 to reflect the growing importance of autonomous and mobile robotics and the AGV business in intralogistics.

REPORT COVERAGE

The global conveyor systems market research report analyzes the type, location, load, and application. It provides information and leading companies and their business overview, types, and leading product applications. Besides, it offers insights into the competitive landscape, SWOT analysis, and current market trends and highlights key drivers and restraints. In addition to the factors mentioned above, the report encompasses several factors contributing to the market's growth in recent years.

Report Scope & Segmentation