Conveying Equipment Market Size, Share 2020 to 2027

The main objective of this report is to define, describe, and forecast the global Mineral Feed market by types, application, manufacturers, and regions. The report provides detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the global market. The report also attempts to forecast the market size of the 5 main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key market players and comprehensively analyzes their core competencies. It also tracks and analyzes the competitive developments, such as joint ventures, mergers and acquisitions, new developments, and Research and Development (R&D) activities, in Mineral Feed market.

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The global conveying equipment market size surpassed at USD 60.7 billion in 2019 and is expected to grow at a CAGR of 3% from 2020 to 2027.

The global conveying equipment market size is projected to reach USD 76.5 billion by 2027. The growth of this market can be attributed to the rising demand for highly efficient material handling systems in food & beverage, automotive, and warehouse and distribution industries.

Conveying equipment is used as a goods carrier application in numerous industries including food and beverage, mining, automotive, airports, and electronics, among others. Conveyors can be designed to handle material of any shape and size. The major benefit offered by conveying equipment comprises low cost, higher productivity, and increased operational efficiency.

The demand for warehouses is rising owing to the significant growth of e-commerce, supermarkets, and online retailers, which, in turn, projected to have a positive impact on the market over the forecast period. Furthermore, the expansion of airports and the development of new airports especially in the Asia Pacific and North America projected to drive the market during the forecast period.

The global conveying market is highly competitive in nature. Key players are adopting various strategies including technological developments, merger & acquisitions, partnership, and capacity expansion in order to gain competitive advantage. For instance, in April 2019, Daifuku Co, Ltd. acquired India-based Vega Conveyors and Automation Private Limited.

Report Highlights

Belt conveyor was the dominant material segment and accounted for 24.2% of the overall revenue share in 2019 owing to a rise in the demand for belt conveyor in food and beverage, pharmaceutical, airport, and mining applications. It is the most common conveying equipment which offers a wide variety of application across the industries. Belt conveyors can be operated at various speeds depending on the throughput required by using variable speed drive.

Overhead conveyors are projected to register a CAGR of 3% from 2020 to 2027. Overhead conveyors are usually used in material handling applications where products need to be hung for instance paint lines, dry-cleaning garment lines, or parts handling systems. Overhead conveyors can be mounted above the workplace with floor supported or roof-supported structure.

Chain conveyors are used to conveying bulk materials in bins or pallets. It uses a chain, or multiple chains to transfer pallets or other hard-to-convey products. Bucket conveyors use multi-sided containers to convey products. They are used in various applications including bulk material, parts, or food handling and processing.

The unit load segment dominated the global conveying equipment market and accounted for 44.5% of the total demand in 2019. The use of unit handling equipment is primarily for handling small batches which is most widely applicable in industries such as food and beverage processing, warehouse and distribution, and manufacturing of automotive industries besides other durable goods industries.

Global parts & attachments segment expanding at an estimated CAGR of 3.1% from 2020 to 2027. Parts and attachments are not only used in other conveying equipment but also used separately as an independent machine for light-weighted activities. This has given a boost to the market demand for parts and attachments.

The warehouse and distribution end-use segment dominated the market by accounting for a share of 22.1% of the total revenue share in 2019 on account of the growing demand for the e-commerce industry. Furthermore, significant growth of supermarkets online retails, and distribution centers, especially in the Asia Pacific, and North America, projected to have a positive impact on the market

Conveying equipment is extensively used in the food and beverage industry. Belt conveyor is the most commonly used conveyor that is used in the packaging and processing of food products. Belt conveyors can be used to horizontally transport, elevate, or decline material for cooling, inspection, storing, or conveying. Other conveyors such as screw, vibratory, aero-mechanical conveyors are also used in food processing industries.

Conveying equipment has a wide range of applications in the automotive industry including moving parts, indexing, processing, vision integration, welding, and moving parts for assembly lines. Belt conveyor, roller conveyor, overhead conveyor, and slat conveyor are the commonly used conveyor types in the automotive industry. The automotive end-use segment is anticipated to register a CAGR of 2.5% over the forecast period.

Conveying equipment finds its applications in numerous end-use industries including packaging, electrical and electronics, consumer goods, mining, pharmaceuticals, and chemicals, among others. Growing industrialization, technological developments, and increased infrastructure spending anticipated having a positive impact on the market over the forecast period.

Regional Insights

Asia Pacific was the largest consumer of conveying equipment, accounting for over 30.3% of the total revenue share in 2019 and is expected to witness moderate growth over the forecast period. An increasing number of industries and requirements for fast as well as efficient material handling system products is expected to drive the market growth in this region.

North America conveying equipment market has been witnessing stagnant growth rates over the last few years owing to increasing governmental norms and standards and the trend is expected to continue over the forecast period. A major opportunity exists for the conveying equipment with respect to technology as the market can innovate better products to facilitate customized needs.

Europe conveying equipment market projected to expand at a CAGR of 2.5% over the forecast period on account of increasing construction and infrastructure spending coupled with increasing industries in this region. The market growth is further augmented by the increasing automation and reducing human efforts in manufacturing plants and distribution centers.

Central and South America offer tremendous potential and opportunities in the field of conveying equipment. Relaxed government regulations in countries such as Brazil, and Argentina coupled with the rising globalization and privatization expected to exhibit a significant leap in terms of industrialization, which, in turn, expected to have a positive impact on the market.

Some of the prominent players in the conveying equipment market include:

• Daifuku Co., Ltd.
• Beumer Group GmbH & Co., KG
• Fenner Group Holdings Ltd
• Fives Group
• Flexlink, Intelligrated, Inc
• Jungheinrich AG
• Kardex Group
• Kion Group AG
• KUKA AG
• Murata Machinery, Ltd
• Phoenix Conveyor Belt System
• Siemens AG
• TGW Logistics Group GmbH
• Continental
• Emerson

Market Segmentation

Type Outlook

• • Belt
  • Roller
  • Pallet
  • Overhead
  • Chain conveyors
  • Others

Product Outlook

• • Unit handling
  • Bulk handling
  • Parts & attachments

End-use Outlook

• • Food & Beverage
  • Warehouse & Distribution
  • Automotive
  • Airport
  • Mining
  • Electronics
  • Others

Regional Outlook

• • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
  • Central & South America
    • Brazil
    • Argentina
  • The Middle East & Africa
    • Saudi Arabia
    • UAE

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