Description :
Conveyor systems , mechanical handling equipment , have gained significant demand from industrial sector in recent past for process automation . Its ability to carry heavy material finds usage in several industries such as retail , food & beverage and automotive . Moreover , conveyer systems are customized according to the industry needs . Major types of such systems include belt , roller , pallet and overhead . Global conveyor systems market has garnered a value of $ 5,665 million in 2015 and is expected to constitute a revenue of $ 7,573 million by 2022 , growing at a CAGR of 4.3 % during the forecast period ( 2016-2022 ).
The need to curb manufacturing costs and reduce waste has led to the adoption of conveyor systems by various industries . The industry players focus on lean manufacturing technique to optimize production process to remain competitive in the market . Emerging markets such as China , India , and Brazil are potential markets . However , high cost of installation could restrain the market growth .
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Growing industrialization across the world have been driving the automation trends in retail , automotive and food & beverage industries . Growth in e-commerce sector has forced the retail industry players to deploy conveyor systems to improve the service levels . Food & beverage industry is one of the major users of conveyor systems to automate the food processing and preparation tasks . Belt conveyor finds multiple applications in food & beverage industry as it ’ s easy to install and carry variety of materials . Automotive industry uses different types of conveyor systems to convey equipment and motor vehicle . For instance , the industry use pallet conveyor systems in shipment area while belt conveyor systems in manufacturing area .
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Modernization of existing manufacturing facilities as well as expansions has triggered the demand of conveyor systems . Airport authorities across the world are investing significantly to improvise the baggage handling process at check-in to collection areas . This has increased the demand of belt and tri-planer conveyor systems . Moreover , the expansion of manufacturing in low labor cost countries facilitated the market growth .
Conveyor systems market is segmented based on type , industry vertical and geography . Conveyor systems market is segmented into belt , roller , pallet , overhead , and other conveyor types . Belts and rollers are most economical and popular conveyor types . Overhead conveyor finds application in automotive sector to move the components across the floor .
Geographically , the market is segmented into North America , Europe , Asia-Pacific , and Latin America , Middle East , and Africa ( LAMEA ). Europe and North America dominates the market
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