QYR Market Research Global ACSR market research | Page 5

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• Conveyor systems are mechanically-operated material handling equipment, which are
used to transport material within premises. They provide a quick and effective
transportation solution with a high degree of safety. Therefore, due to
effectiveness of conveyance, a considerable amount of cycle time is reduced in the
industrial process. The same factor helps in reducing the errors in handling manual
material. Early commercialization of the conveyor system took place for
transportation of heavy materials in the industrial sector.
• Asia-Oceania to grow at the highest CAGR during the forecast period. Asia-Oceania
is estimated to dominate the conveyor system market, and is projected to grow at
the highest CAGR during the forecast period. The growth in Asia-Oceania is
attributed to the improving socio-economic conditions in emerging economies such
as China, India, Indonesia, and Thailand. Factors such as reduced human effort,
increased efficiency, and decreased product loss, are driving the demand for
conveyor systems. For countries like India and Japan, the consumption pattern of
the people is changing. The rising middle class population has meant that the need
for conveyor systems are increasing in order to cater to these consumers.