Conveying Equipment Market In-depth Analysis and forecasts

Conveying Equipment Market is expected to exceed USD 65 billion by 2025. Growth in the e-commerce industry and ongoing investments in expansion and development by leading retail players are being witnessed. For instance, in July 2019, Alibaba Group Holding Limited announced the expansion of its commercial platform to small businesses in the U.S., allowing them to sell goods through its website. With a rise in expansion strategies of e-commerce players the demand for advanced equipment for automating the sorting & transporting process of products in warehouses and distribution centers will increase.
The increasing adoption of industrial automation in developing countries will positively impact the conveying equipment market growth. Several manufacturing industries are widely adopting these systems for bulk material handling and to reduce operational costs and goods processing cycle time. For instance, the food & beverage industry is using belt conveyors for the processing and packaging of food products. Moreover, the rising labor cost in countries including Australia, Brazil, and Canada, is forcing manufacturers to adopt automated equipment during production processes.
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Unit handling will witness high adoption in the conveying equipment market. These conveying systems are primarily suitable for lighter loads of up to 75 pounds and are used to transport large and discrete items that can be handled independently. They are mainly used to monitor reduced batch size in applications where manual rotation or positioning of products is required. Unit conveyors provide reliable and safe handling of products in internal, external, normal, dusty, humid, and corrosive environments.
Durable manufacturing applications are expected to account for majority of the industry share owing to the increasing requirement of industrial machinery and computer equipment. Conveying equipment offers efficient retail, wholesale, and manufacturing distribution of durable goods including appliances, heating & cooling equipment, power tools, outdoor equipment, motors, and compressors or generators. These systems are resistant and durable, enabling the handling and transporting of goods in harsh conditions on a continuous basis.
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The Asia Pacific conveying equipment market will witness high growth in the coming years owing to growth in manufacturing sectors in countries including China, India, South Korea, Indonesia, Malaysia, and Thailand. Several SMEs and large manufacturers are actively adopting advanced technologies to meet customer demands. Moreover, increasing government focus and rise in initiatives, such as Make in India, Industry 4.0, and Made in China, for development of the manufacturing sector are being witnessed. In China, the flourishing manufacturing sector and the efforts to automate all the systems by replacing human labor with machines are driving industry growth. High labor costs in China are compelling manufacturers to find alternative solutions to enhance throughput.
The key players operating in the conveying equipment market include: TGW Logistics Group GmbH, Phoenix Conveyor Belt Systems, SSI Schaefer Group, Murata Machinery, Ltd., Kardex Group, Toyota Industries Corporation, Jungheinrich AG, Kion Group AG, Viastore Systems, Inc, KUKA AG, and Fenner Group Holdings Ltd. These players are focusing on several product differentiation and pricing strategies to sustain in the highly competitive market. The growing demand for industry-specific applications is encouraging manufacturers to provide products integrated with advanced technology.