Conveyor Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Conveyor System Market is segmented by Product (Belt, Roller, Pallet, Overhead), End-user Vertical (Airport, Retail, Automotive, Manufacturing, Food & Beverage, Pharmaceuticals, Mining), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Conveyor Market Size

Conveyors Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Conveyors Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Conveyor Market Analysis

The Conveyors Market is expected to grow at a CAGR of 4.5% over the forecast period. The world of intralogistics is undergoing a major transformation. With the globalization of the economy, shorter product cycles, and the advancements in e-commerce, the international flow of goods is increasing and accelerating, driving the market studied.

  • With the rapidly increasing growth in Stock-Keeping Units (SKUs), wholesalers and distributors need help to make informed decisions about their operations, which drives the need for the more innovative use of labor, equipment, and technology. The main factors driving the need for these automated material handling systems are cost savings, labor efficiency, and space constraints.
  • Various factors, such as industrial growth, expansions, modernization of industries, and product and process-specific conditions, influence the conveyor systems market. Conveyor systems help simplify the task of handling bulky materials. It plays a vital role in operations by reducing and minimizing production cycle time and errors.
  • Supply chains and business processes are becoming increasingly complex, and customers are demanding more. At the same time, competitive pressure is also growing among national economies and individual market players. Therefore, outsourcing models and automation are gaining demand.
  • It has also been observed that there is an increasing need for delivering various products in small time frames that require efficient inventory management and reverse logistic systems. The developing automotive, retail, and food and beverage industries are also likely to fuel the growth of the market studied.
  • The spread of COVID-19 has positively affected the market studied, especially in the food & beverage and pharmaceutical sectors, which have been deemed under essential services. Due to increased sales of the products under these segments, manufacturing facilities have been working round the clock to deliver the end products, which was only possible with the usage of conveyor belts, among other machines.

Conveyor Market Trends

This section covers the major market trends shaping the Conveyors Market according to our research experts:

Retail Segment to Witness Significant Growth

  • The retail industry has transformed significantly with automation and IT-based solutions. Retailers are adopting automated warehousing and distribution solutions to optimize store space utilization and stay profitable. The retail sector utilizes conveyors for distribution, warehousing, sorting, and cross-docking. Growth in shopping through online mode in the Asia-Pacific and LAMEA regions has created a conducive market environment.
  • The increasing usage of online retailing, coupled with changing consumer behavior toward goods purchasing, is likely to positively impact the adoption of conveyor and sortation systems. In addition, many companies already invested in the sortation facility are expected to increase their capacity, owing to the rising demand. For instance, in October 2022, UPS expanded its presence at Milan Bergamo Airport by adding a new facility to expand capacity. Moreover, the new facility measures 5,000 sq. meters and has sorting facilities, processing 3,800 packages per hour - twice as many as the previous building.
  • The increasing purchasing power of consumers, changing lifestyles, growing working-class segment, and relaxation in government regulations such as Foreign Direct Investment. These factors have boosted the growth of supermarket chains and distribution centers, driving the demand for new distribution centers and warehouses, which is then expected to drive the conveyor market.
  • Furthermore, According to the US Department of Commerce, the warehousing and storage industry in the US generated almost USD 50.5 billion in the year 2021, and there were over 19,000 warehouses in the united states, which will drive the market for conveyors in the US.
Conveyors Market:  Warehousing and Storage Revenue, USD Million, US, 2015-2021

Asia Pacific is Expected to Hold the Largest Market Share

  • Many international corporations from developed countries across the globe have set up their production facilities in the APAC region, especially in developing countries such as India and China, because of the availability of cheaper factors of production (labor, raw material, and equipment). The growth of manufacturing activities has increased the adoption of conveyor systems in this region.
  • Moreover, increasing spending power, improving the standard of living, and higher GDP, among other factors, are increasing the demand for manufactured goods, which in turn is leading to the increased adoption of these automated systems. For example, the majority of belt conveyors in Indian manufacturing facilities were initially of the low-speed type. The expansion of these facilities, fueled by increased public demand for goods, led to the adoption of high-speed belt conveyors.
  • In India, demand will increase from the retail, airport, and post and parcel industries during the forecast period. The retail market is primarily driven by the emergence of the e-market and customers shopping online, which gave rise to fulfillment centers and warehouses. Also, with the increased usage of communication devices, the internet is helping the growth of e-commerce and m-commerce.
  • Also, the Tokoyo-based rubber company Bridgestone Corporation reported that the company was able to generate JPY 386.9 billion (USD 2.89 billion) in 2021 from China and Asia-Pacific, which play an essential part in the making of conveyors.
  • Furthermore, the Ministry of Economy, Trade, and Industry (METI) stated that the sales value of conveyor and elevator beltings made from rubber in the rubber industry in Japan increased by JPY 700 million (USD 5.2 million) in 2021, compared to 2020, which was an increase of 4.58% of the sales.
Conveyors Market - Growth Rate by Region

Conveyor Industry Overview

The Conveyor Market is highly competitive owing to the presence of many prominent players supplying their products in domestic and international markets. The market appears to be moderately fragmented, with the major players adopting strategies like product innovation and mergers and acquisitions. Some of the major players in the market are Daifuku Co. Ltd, SSI Schaefer AG, and Murata Machinery Ltd, among others.

  • March 2022 - Honeywell announced a collaboration with OTTO Motors, a division of Clearpath Robotics, giving warehouses and distribution centers throughout North America an automated option to address some of the most labor-intensive roles in an increasingly scarce job market. The collaboration also allows Honeywell customers to increase efficiency, reduce errors and enhance safety by installing OTTO's autonomous mobile robots (AMRs) in their facilities. These AMRs also provide a flexible and powerful way to transport pallets, typically accomplished primarily with forklifts and conveyor systems.
  • May 2022 - Viastrore Systems GmbH announced that Interroll and Viastore had agreed to work more closely together in the field of conveyor technology in the future. The managing directors locked the corresponding cooperation with a handshake at LogiMAT, the international trade fair for intralogistics solutions, in Stuttgart, Germany.

Conveyor Market Leaders

  1. Daifuku Co. Ltd

  2. SSI Schaefer AG

  3. Murata Machinery Ltd

  4. BEUMER Group GmbH & Co. KG

  5. Honeywell Intelligrated Inc.

*Disclaimer: Major Players sorted in no particular order

Conveyors Market  Concentration
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Conveyor Market News

  • October 2022: Daifuku North America Holding Company (Daifuku) announced its new manufacturing plant in Boyne City, Michigan, USA. The company invested USD 26 million to build this world-class 225,000 sq. ft. manufacturing facility. The plant is on 22 acres of land and is operated by Jervis B. Webb Company, a Daifuku North America subsidiary. Moreover, Jervis B. Webb Company (Webb) builds conveyor components for complex systems that support airports, automotive, and general industries.
  • August 2022: Hitachi Energy announced that it would implement the Kardex AutoStore solution in the Dietlikon site, which includes goods receipt and inspection, storage, picking & packing, and shipping of the service components. Kardex performed several system simulations with actual data during the planning phase for the customized design of Hitachi Energy's AutoStore solution. In the first expansion stage, the grid will only be equipped with 3,000 bins, two "Red Line" (R5) robots, and two Conveyor Ports.

Conveyor Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Demand for Handling Larger Volumes of Goods and Improving Productivity

      2. 4.2.2 Rapid Growth of E-commerce

    3. 4.3 Market Restraints

      1. 4.3.1 High Initial Investments

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Assessment of COVID-19 Impact on the Industry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Belt

      2. 5.1.2 Roller

      3. 5.1.3 Pallet

      4. 5.1.4 Overhead

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 By End User

          1. 5.2.1.1.1 Airport

          2. 5.2.1.1.2 Retail

          3. 5.2.1.1.3 Automotive

          4. 5.2.1.1.4 Manufacturing

          5. 5.2.1.1.5 Food and Beverage

          6. 5.2.1.1.6 Pharmaceuticals

          7. 5.2.1.1.7 Mining *(Kindly note that similar end-user segment coverage is provided for all other regions in the scope)

        2. 5.2.1.2 By Country

          1. 5.2.1.2.1 United States

          2. 5.2.1.2.2 Canada

      2. 5.2.2 Europe

        1. 5.2.2.1 By End User

        2. 5.2.2.2 By Country

          1. 5.2.2.2.1 France

          2. 5.2.2.2.2 Germany

          3. 5.2.2.2.3 Italy

          4. 5.2.2.2.4 Netherlands

          5. 5.2.2.2.5 Rest of Europe

      3. 5.2.3 Asia Pacific

        1. 5.2.3.1 By End User

        2. 5.2.3.2 By Country

          1. 5.2.3.2.1 Australia

          2. 5.2.3.2.2 China

          3. 5.2.3.2.3 India

          4. 5.2.3.2.4 Japan

          5. 5.2.3.2.5 South Korea

          6. 5.2.3.2.6 Rest of APAC

      4. 5.2.4 Latin America

        1. 5.2.4.1 By End User

        2. 5.2.4.2 By Country

          1. 5.2.4.2.1 Argentina

          2. 5.2.4.2.2 Brazil

          3. 5.2.4.2.3 Mexico

          4. 5.2.4.2.4 Rest of Latin America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 By End User

        2. 5.2.5.2 By Country

          1. 5.2.5.2.1 United Arab Emirates

          2. 5.2.5.2.2 Saudi Arabia

          3. 5.2.5.2.3 South Africa

          4. 5.2.5.2.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Daifuku Co. Ltd

      2. 6.1.2 SSI Schaefer AG

      3. 6.1.3 Murata Machinery Ltd

      4. 6.1.4 Mecalux SA

      5. 6.1.5 BEUMER Group GmbH & Co. KG

      6. 6.1.6 KNAPP AG

      7. 6.1.7 KUKA AG (Swisslog AG)

      8. 6.1.8 Honeywell Intelligrated Inc.

      9. 6.1.9 Kardex Group

      10. 6.1.10 Viastrore Systems GmbH

      11. 6.1.11 Bastian Solutions Inc.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Conveyor Industry Segmentation

Conveyor systems are mechanical devices or assemblies used to transport various materials with little effort. There are different conveyor systems, usually consisting of a frame that supports either wheels, rollers, or a belt, upon which the materials move from one place to another.

The Conveyors Market is segmented by Product (Belt, Roller, Pallet, Overhead), End-user Vertical (Airport, Retail, Automotive, Manufacturing, Food & Beverage, Pharmaceuticals, Mining), and Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

By Product Type
Belt
Roller
Pallet
Overhead
Geography
North America
By End User
Airport
Retail
Automotive
Manufacturing
Food and Beverage
Pharmaceuticals
Mining *(Kindly note that similar end-user segment coverage is provided for all other regions in the scope)
By Country
United States
Canada
Europe
By End User
By Country
France
Germany
Italy
Netherlands
Rest of Europe
Asia Pacific
By End User
By Country
Australia
China
India
Japan
South Korea
Rest of APAC
Latin America
By End User
By Country
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
By End User
By Country
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Conveyor Market Research FAQs

The Conveyors Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)

Daifuku Co. Ltd, SSI Schaefer AG, Murata Machinery Ltd, BEUMER Group GmbH & Co. KG and Honeywell Intelligrated Inc. are the major companies operating in the Conveyors Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Conveyors Market.

The report covers the Conveyors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Conveyors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Conveyor Industry Report

Statistics for the 2024 Conveyor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Conveyor analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Conveyor Industry Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)