Transportation Equipment Market Size Worth USD 60.22 Billion By 2027 – Reports and Data
Growing industrialization in APAC, positive market outlook combined with growing trend of e-commerce to fuel demand for conveyor equipment in industry
NEW YORK, NY, USA, September 29, 2021 /EINPresswire.com/ – The global conveyor equipment market is expected to reach $ 60.22 billion by 2027, according to a new report from Reports and Data. Transportation equipment, mechanical handling equipment has gained popularity in the industrial sector for process automation in recent years. Its ability to transport bulky and heavy materials helps it find use in several industries such as automotive, retail, and food and beverage. In addition, the conveyor equipment is customized according to its use.
Factors such as the need for automation to reduce manufacturing costs and waste, increasing industrialization and improving production efficiency are driving growth. Market players are focusing on lean manufacturing techniques to improve the manufacturing process. Emerging countries like Brazil, India and China are potential markets. However, high installation costs could hamper the growth of the industry. However, the development of cost-effective and environmentally friendly conveying equipment would create more opportunities for the equipment.
Manufacturers have developed different types of conveyor equipment to meet specific consumer demands. Some of the popular belt conveyors include elevator belt conveyors, flatbed belt conveyors, variable speed conveyors, packing belt conveyors, among others. Belt conveyors meet a high demand in the market due to their advantages in transporting a variety of light or heavy, large or small, regular or irregular shaped products. Industry players have focused on developing cost-effective, robust and reliable systems in this category. Industry players invest heavily in R&D to design and manufacture emerging consumer needs. The players have designed modular conveying equipment to meet consumers’ demand for flexibility.
The impact of COVID-19:
The COVID-19 outbreak is taking a toll on most businesses across the globe, including the conveyor equipment market. Closed foundries and canceled events in the conveyor equipment industry are not immune to the growing coronavirus infection from China. With the cancellation of international fairs, infectious disease is also having a global impact. The lockdown in several regions has severely affected the conveyor equipment industry around the world. In addition, major players like Siemens sending its workers to quarantine (those in need) and working with reduced manpower will negatively impact the burgeoning conveyor equipment market.
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The main participants are Emerson, Siemens, Continental, Daifuku, Fives, Taikisha, Honeywell Intelligrated, Dematic, SSI Schaefer and Invata, among others.
Other key findings from the report suggest
• The manufacture of tailor-made conveying equipment is made possible by the development of technologies coupled with the growth of industrial production.
• Crescent type conveyors are easy to clean, customize and operate. The food industry has also started to use the crescent-shaped type of transport equipment widely.
• Among applications, manufactures are currently leading with 42.6% of global market revenue, and they will continue to lead the market with an estimate to register the highest CAGR of 3.5% during the period. forecast.
• Among end users, the food and beverage sector leads the way with 23.8% of global market revenue, and it will continue to dominate with an estimate to register a significant growth rate during the period. forecast.
• Rising population in countries like India and China has boosted demand from industries such as e-commerce, automotive, and food and beverage, thus fueling the demand for conveying equipment. in these industries.
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For the purpose of this report, reports and data have segmented the Conveyor Equipment market on the basis of product, application, end user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Parts and Attachment
End User Outlook (Revenue, USD Billion; 2017-2027)
Warehouse and distribution
food and drinks
Application Outlook (Revenue, USD Billion; 2017-2027)
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces Analysis. The report explores in more detail the major business players along with their in-depth profiling, product portfolio and strategic business decisions. The report has been formulated through extensive primary and secondary research and validated by analysts, industry experts and market professionals. The report also highlights recent mergers and acquisitions, joint ventures, collaborations, partnerships and product launches, among others.
The regional analysis covers the assessment of imports / exports, production and consumption ratios, supply and demand, costs, prices, estimated revenues and gross margins, and the presence of actors keys in the area. The report also offers information on revenue growth, market size, market share, the technological advancement, and the presence of key players in each region.
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The regional bifurcation of the conveyor equipment market includes:
North America (United States, Canada, Mexico)
Europe (UK, Italy, Germany, France, rest of Europe)
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, United Arab Emirates, South Africa, Rest of MEA)
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