Conveyor System Market to Surpass US$ 12.9 Bn by 2030, Finds Fact.MR

DUBLIN 2, Ireland - Sept. 23, 2020 - PRLog -- The conveyor system market is anticipated to cross a valuation of US$ 12.9 billion between the period from 2020 to 2030. The coronavirus pandemic is having a negative impact on the industry, largely because of suspended activities in multiple industrial verticals. However, demand for conveyor systems in essential services such as food and medicine will partially mitigate the losses. Further, manufacturers are pushing to distribute automated conveyor system options to minimize transmission of the covid-19 among workers, which will help in a faster recovery of the market after the lockdown restrictions are lifted.

"The rising applications in the e-commerce sector is likely to impact the conveyor systems market positively. As businesses in multiple verticals invest in sortation facilities, expansion of operational capacities will contribute to rising demand, for the foreseeable future" says the FACT.MR study.

Conveyor System Market- Key Takeaways

• On floor conveyor systems are highly popular in manufacturing and warehousing facilities owing to high levels of customizability.
• Bulk load conveyor systems are finding widespread acceptance owing to applications in mass production facilities across varied industries.
• Asia Pacific is a key market for conveyor systems, supported by the rapid growth of mining and FMCG production industries.

Read Report- https://www.factmr.com/report/4779/conveyor-system-market

Conveyor System Market- Driving Factors

• The requirement for highly efficient logistics capabilities in the massive e-commerce market is a major driver behind the adoption of conveyor systems.
• Increasing incorporation of Industry 4.0 practices, with intelligent equipment will aid the sales of automated conveyor systems.

Conveyor System Market- Major Restraints

• Trade deficits and shortage of capital are key challenges for conveyor system manufacturers.
• Volatility of demand for durable goods can potentially limit the growth of the conveyor system market.

COVID-19 Impact on Conveyor System Market

The coronavirus pandemic is having a short-term negative impact on the conveyor system market, as non-essential industrial verticals have been forced to shut down operations to comply with lockdown restrictions during the outbreak. Health concerns for workers in logistics and warehousing facilities is reducing the use of conveyor systems. Consequently, automation and hygiene innovations such as UV disinfection components, will pick up traction and create lucrative opportunities for manufacturers.

Competitive Landscape

Murata Machinery, Daifuku Co. Ltd., Fives, Interroll Holding AG, Dematic Company, Beumer Group, Siemens AG, and Honeywell International Inc. are some of the prominent conveyor system market players.

PR Source- https://www.factmr.com/media-release/1549/global-conveyor...