Conveyor systems market to post steady CAGR of 3%-4% until 2020

According to new research from Future Market Insights, the global conveyor systems market is expected to witness a steady CAGR of around 3%-4% for the period of 2014-2020.

Automation in every industrial segment has become an integral part of industrial operations, the report continued, by providing a quick and accurate transportation solution with a high degree of safety.

On the basis of their end user applications, the report categorized conveyor systems markets into automotive, airport, retail, mail logistics and food and beverage segments. Assembly line, body shop, paint shop and few others are key application areas of conveyor systems in the automotive sector, and the retail sector utilizes these systems for distribution and warehousing, sorting and cross-docking. Moreover, the growing demand for food and beverage is propelling the adoption of conveyor systems to boost production rates.

On the basis of their design modification, conveyor systems can be categorized as roller conveyor, belt conveyor, crescent conveyor, pallet conveyor, overhead conveyor and others. In order to meet the needs and demands of customers, manufacturers provide highly customized products.

Growing demand for cost-effective material handling systems and increasing automation in the industrial sector are two of the major driving factors of global conveyor systems market. The developing automotive, retail, and food and beverage industries are also likely to fuel the growth in the Asia-Pacific conveyor systems market. Europe is dominating the overall conveyor systems market at present and has a large conveyor system supply network with broad distribution channel. Europe is likely to hold its dominance over the global conveyor systems market at the end of the forecast period. Latin America region is expected to be the fastest growing conveyor systems marketespecially in the emerging economies such as Mexico and Brazil where the industrial sector is booming.

According to the report, a few of the most prominent market players in global conveyor systems market are Daifuku, Dematic Group, Emerson Electric, Siemens AG, Allied Conveyor Systems, Caterpillar, Dorner Conveyors, Dynamic Conveyors, Fives Group, FMC technologies, Interroll and Intelligrated. One of the key market strategies is the development of patented products with high customization. In addition, acquisitions and strategic alliances to share technologies, can be seen in the market.

The research report presents a comprehensive assessment of the market and contains insights, facts, historical data, market data and projections. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.