FMI has announced Conveyor Systems Market Growth, Forecast and Value Chain 2014-2020
Future Market Insights has announced the addition of the “Conveyor Systems Market: Global Industry Analysis and Opportunity Assessment 2014 - 2020" report to their offering.
Automation in every industrial segment has become an integral part of industrial operations. Conveyor systems are mechanically-operated material handling equipment, which are used to transport material within premises. They provide a quick and effective transportation solution with a high degree of safety. Therefore, due to effectiveness of conveyance, a considerable amount of cycle time is reduced in the industrial process. The same factor helps in reducing the errors in handling manual material. Early commercialisation of the conveyor system took place for transportation of heavy materials in the industrial sector.
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On the basis of their end user applications, conveyor systems can broadly be categorised as automotive, airport, retail, mail logistics,and food and beverage.Assembly line, body shop, paint shop and few others are key application areas of conveyor systemsin the automotive sector. Nevertheless, the retail sector utilises these systems for distribution and warehousing, sorting, cross-docking, and distribution. Conveyor systems are an integral part of airport facilities for baggagehandling. Usage of the conveyer system in airport facilities is likely to increase due to growing air traffic across the globe, and the development of new airport locations. Moreover, the growing demand for food and beverage is propelling the adoption of conveyor systems to boost production rates.
On the basis of their design modification, conveyor systems can be categorized as roller conveyor, belt conveyor, crescent conveyor, palletconveyor, overhead conveyor and others.In order to meet the needs and demands of customers, manufacturers provide highly customized products.
Growing demand for cost-effective material handling systems and increasing automation in the industrial sector are two of the major driving factors of global conveyor systems market. It is expected that, global conveyor systems market will witness a steady CAGR of around 3%-4% for the period of 2014-2020. The developing automotive, retail, and food and beverage industriesare also likely to fuel the growth inAsia-Pacificconveyor systems market. Europe is dominating the overall conveyor systems market at present and has a large conveyor system supply network with broad distribution channel. Nevertheless, Europe is likely to hold its dominance over the global conveyor systems marketat the end of forecast period. Latin America region is expected to be the fastest growing conveyor systems marketespecially in the emerging economies such as Mexico and Brazil where the industrial sector is booming. Increasedsophistication of conveyor system along with advanced technology are major trends in this market.
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A few of the most prominent market players in global conveyor systems market areDaifuku, Dematic Group, Emerson Electric, Siemens AG, Allied Conveyor Systems, Caterpillar, Dorner Conveyors, Dynamic Conveyors, Fives Group, FMC technologies, Interroll and Intelligrated. One of the key market strategies is the development of patented products with high customisations. In addition, acquisitions and strategic alliances to share technologies, can be seen in the market.