- Size, Trend, Share, Opportunity Analysis, and Forecast, 2016-2022
As per the report published by Progressive Markets, the global conveyor systems market was valued at 12,559 million USD in 2016 and is expected to grow at CAGR of 4.77% from 2016 to 2022. The report provides a thorough research by expert analysts and helps to develop a clear understanding of the global Conveyor Systems Market size and share for the duration 2012-2022.
Conveyor system is a mechanical handling system used to move heavy and bulky materials quickly and efficiently. They are widely used in industries as they can transport materials safely from one level to another, reducing human labor. The popularity of conveyor system market increased as they are most reliable and contribute minimum human error. The global conveyor market has observed ups and downs in the last decade due to changes in customers preferences and choices. The popularity of the conveyor system market grew due to the factors including increased demand for quick production turnover, modernization, and rapid industrial growth.
The conveyor market is segmented based on category, application, and geography. The report shows a clear growth rate of every category from 2012 to 2022, and includes the forecast of the market for the same. The in-depth analysis of the region-wise market growth plays an important part to determine the opportunities in the market.
Drivers and Restraints:
The recent advancement in big data analysis and increased efficiency are the chief contributors to the market growth of the conveyor systems. As the conveyors reduce human efforts exponentially and increase safety, the consumption of conveyor systems has amplified in the last couple of years. The continued digitalization of information and processes, introduction of internet of things (IoT), machine-to-machine communication and coordination are the key factors driving the growth of the conveyor system sales market. However, the economical fluctuations in China, U.S., and other key markets have resulted in the slowdown of the market. Recent market risks, reduction in cost, and commercialization are the prime challenges of the market.
Key Benefits of the report:
Key Market Players:
Other key market players are Buhler Group, Shuttleworth, Siemens, BEUMER Group, Eisenmann, Emerson, Flexlink, Interroll, and Dorner Conveyors.
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