January 06, 2020
According to the recent study titled ‘Conveying Equipment Market Size By Product (Bulk Handling Equipment, Unit Handling Equipment, Parts & Attachments), By Application (Durable Manufacturing, Food & Beverage, General Merchandise, Mining & Construction, Transportation, Warehouse & Distribution), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Netherlands, Russia, China, India, Japan, Australia, South Korea, Malaysia, Indonesia, Brazil, Mexico, Argentina, Chile, Colombia, Peru, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global conveying equipment market is presumed to cross US $65 billion by the year 2025.
The growth of e-commerce industry, in tandem with rising investments for expansion by leading retail players are amplifying the demand for advanced conveying equipment, thereby augmenting the market outlook. Conveying equipment are used to automate sorting and transportation processes across warehouses and distribution centers. Increasing adoption of industrial automation due to rising labor cost, along with the need for efficient material handling systems to reduce operational cost and processing time are contributing towards the growth of conveying equipment market, cites the report.
As per product, unit handling equipment segment is anticipated to register substantial growth over the forecast period, owing to its ability to handle discrete items with load up to 75 pounds independently. The equipment provides safe and reliable handling of products in humid, dusty, normal, corrosive, external, and internal environment.
Speaking of the application spectrum, durable manufacturing market segment is slated to amass the largest share in the upcoming years, pertaining to rising adoption of industrial machinery and computer equipment. Durable goods such as compressors/generators, motors, outdoor equipment, heating & cooling equipment, appliances, and power tools can be handled efficiently across wholesale, retail, and manufacturing distribution using conveying equipment, which is aiding the segmental growth.
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Considering the regional outlook, Asia Pacific conveying equipment market is expected to gain significant traction over the analysis timeframe, on account of expanding manufacturing sector in nations like Thailand, Malaysia, Indonesia, South Korea, India, and China. Several government initiatives such as Industry 4.0, Make in India, and Make in China, in consort with surging adoption of advanced technologies by SMEs and large companies across the region are stimulating the expansion of Asia Pacific market.
The key players of conveying equipment market are Fenner Group Holdings Ltd., KUKA AG, Viastore System, Inc., Kion Group AG, Jungheinrich AG, Toyota Industries Corp., Kardex Group, Murata Machinery Ltd., SSI Schaefer Group, Phoenix Conveyor Belt Systems, and TGW Logistics Group GmbH.
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