Conveying equipment are basically mechanical handling equipment utilized to transport bulky material from one place to another. Conveying system provides quick as well as efficient transportation for wide variety of goods, which is making conveying equipment popular in the various materials handling and packaging industries. Conveying equipment, in their simplest form, are mechanical assemblies which can be demountable and easy to move while, in their most sophisticated form, they are can be complex machines with drives, controls and sensors. Complex conveying equipment is required for highly accurate sorting, ordering or distribution of the items or products being conveyed.
Global Conveying Equipment Market: Key Players
The research study includes profiles of leading companies operating in the global conveying equipment market. Key players profiled in the report include: Siemens AG, Swisslog Holding AG, Dematic Group, Daifuku Co. Ltd., SSI Schäfer, Emerson Electric Co., Interroll Holding Ltd., Taikisha Ltd., TGW Logistics Group Gmbh, Vanderlande Industries, Dorner Mfg. Corp, Caterpillar Inc., Mahindra Conveyor Systems, Eisenmann Corporation, Fives Group, and others.
Drivers for the Global Conveying Equipment Market:
According to current market situation, factors like development in mechanization, demands for automation to reduce manufacturing waste by focusing on highly efficient production conveying equipment are driving the demand for high end conveying equipment. Also, growing dependence on machines with automated systems leading to a reduction in production time and increasing efficiency is expected to have a positive impact on the overall conveying equipment industry. Moreover, rising demand for automation in the manufacturing industries on account of rising focus towards mass production in order to decrease the capital investments anticipated to have a positive impact on the market.
Opportunities for the Global Conveying Equipment Market:
The development of environment friendly and cost-effective conveyor systems would create market opportunities. Additionally, the growing trend of e-commerce along with a modification in distribution channels from the sellers to the client coupled with expansion in the food and beverage sector that requires horizontal production and at the same time delivery of goods are expected to create new opportunities for the conveying equipment industry over the forecast period.
Restrains for the Global Conveying Equipment Market:
The recent outbreak of covid-19 is anticipated to hamper the conveyor systems market growth in the immediate future. Governments have reduced the global trades of non-essential products, thus limiting the scale of machines worldwide. This has limited the operation of conveying systems, thus has resulted in minimum demand for the system. Furthermore, owing to the increasing spread of covid-19, governments are imposing stringent lockdowns in countries, which is slowing the economic activities. This has impacted the new purchase decision of organizations, thus hampering the growth of this market.
Region Wise, Global Conveying Equipment Market Analysis:
On the basis of region, global conveying equipment market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Geographically, Asia Pacific region is expected to hold largest share with steady growth during the forecast period. Asia Pacific accounted largest market share and will witness the high growth because of upcoming development in developing regions like India, China Thailand. Moreover, rise in government initiatives such as “Infrastructure Asia”, “Make in India”, “China's Belt & Road Initiative” for infrastructure developments and expansion of the manufacturing sector will drive the conveyor systems demand. Asia pacific region is followed by North America and Europe.
Covid-19: Impact and Recovery Analysis for Global Conveying Equipment Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: conveying equipment market globally. Most of the industries and businesses like: conveying equipment market is shifting to manufacturing equipment that can support the covid-19 spread from increasing and spreading. Due to pandemic covid-19, the manufacturing sector is facing dormancy owing complete shutdown of business operations across the globe. Those businesses who have restarted their manufacturing services are facing abruptly scaled-down production for conveying equipment material because of an immeasurably affected supply chain.
Global Conveying Equipment Market: Product analysis
- Unit handling
- Bulk handling
- Parts & attachments
Global Conveying Equipment Market: Application analysis
- Food & Beverage
- Warehouse & Distribution
Global Conveying Equipment Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East