Conveying Equipment Market Size, Trends, SWOT, PEST, Porter’s Analysis, For 2021–2027
The global conveying
equipment market is forecast to reach USD 60.22 billion by
2027, according to a new report by Reports and Data. Conveying equipment,
mechanical handling equipment has gained significant popularity from the
industrial sector for process automation in the last few years. Its ability to
carry bulky and heavy material helps it to finds utilization in several
industries such as automotive, retail, and food & beverage. Moreover,
conveying equipment are customized according to their usage.
Factors such as the need for
automation to reduce manufacturing costs and waste, growing industrialization,
and improve production efficiency are driving growth. The market players focus
on lean manufacturing techniques to better the manufacturing process. Emerging
nations like Brazil, India, and China are potential markets. However, high
installation costs could hinder the growth of the industry. However, the
development of cost-effective and eco-friendly conveying equipment would create
more opportunities for the equipment.
Manufacturers have developed different
types of conveying equipment to meet specific demands from the consumers. Some
of the popular belt conveying equipment includes elevator belt conveyors,
flatbed belt conveyors, variable speed conveyors, packing belt conveyors, among
others. Belt conveyors find the extensive demand in the market due to their
advantages in conveying a variety of goods of light or heavyweight, large or
small, regular or irregular shaped products. Industry players have focused on
developing cost-effective, tough, and reliable systems in this category. The
industry players invest heavily in R&D to design and manufacture the
emerging needs of the consumers. The players have designed modular conveying
equipment to meet the demand for flexibility of the consumers.
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Further key
findings from the report suggest
- The manufacturing of tailored conveying
equipment is made possible by the development of the technologies coupled
with growth in industrial output.
- The crescent type of conveyors is easy to
clean, easy to customize, and easy to handle. The food & beverage
industry has also started the extensive usage of the crescent type of
conveying equipment.
- Among the application, manufacturing
goods are presently leading with 42.6% of the global market revenue, and
it will continue to dominate the market with an estimate to register the
highest CAGR of 3.5% over the forecasted period.
- Among the end-user, the food &
beverage sector is leading with 23.8% of the global market revenue, and it
will continue to dominate with an estimate to register a significant
growth rate over the forecasted period.
- The rising population in countries like
India and China has boosted the demand for industries such as e-commerce,
automotive, and food & beverage, thus fueling the demand for conveying
equipment in these industries.
- Key participants include Emerson, Siemens, Continental,
Daifuku, Fives, Taikisha, Honeywell Intelligrated, Dematic, SSI Schaefer,
and Invata, among others.
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For the purpose of this report,
Reports and Data have segmented into the conveying equipment market on the
basis of product, application, end-user, and region:
Product
Outlook (Revenue, USD Billion; 2017-2027)
- Bulk Handling
- Unit Handling
- Parts and Attachment
End-User Outlook
(Revenue, USD Billion; 2017-2027)
- Airport
- Automotive
- Warehouse & Distribution
- Mining
- Food & Beverage
- Electronics
Application
Outlook (Revenue, USD Billion; 2017-2027)
- Durable goods
- Non-durable goods
- Manufacturing goods
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France,
Rest of EU)
Asia Pacific (India, Japan, China,
South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil,
Argentina, Rest of Latin America)
Middle East & Africa (Saudi
Arabia, U.A.E., South Africa, Rest of MEA)
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Benefits of Global Conveying Equipment Market
Report:
· Comprehensive analysis of the changing market
dynamics
· A futuristic outlook on different factors
influencing the market
· An 8-year forecast of the market growth and
expected revenue growth
· Ease of understanding of the market, key
segments, and their future growth
· In-depth analysis of the competitive landscape
to give an advantageous edge for the companies
· Extensive insight into the market with
in-depth analysis of the segmentation
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