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 commercialization of the conveyor system took place for transportation of heavy materials in the industrial sector.
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 systems in 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 baggage handling. 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.
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On the basis of their design modification, conveyor systems can be categorized as roller conveyor, belt conveyor, crescent conveyor, pallet conveyor, 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 industries are also likely to fuel the growth in Asia-Pacific conveyor 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 market at the end of forecast period. Latin America region is expected to be the fastest growing conveyor systems market especially in the emerging economies such as Mexico and Brazil where the industrial sector is booming. Increased sophistication 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 are Daifuku, 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 customizations. In addition, acquisitions and strategic alliances to share technologies, can be seen in the market.