The global conveying equipment market size is expected to reach USD 67.82 billion by 2030, registering a CAGR of 3.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of this market can be attributed to the rising demand for highly efficient material handling systems in food & beverage, automotive, and warehouse and distribution industries.
Conveying equipment is used as a goods carrier application in numerous industries including food and beverage, mining, automotive, airports, and electronics, among others. Conveyors can be designed to handle material of any shape and size. The major benefit offered by conveying equipment comprises low cost, higher productivity, and increased operational efficiency.
The demand for warehouses is rising owing to the significant growth of e-commerce, supermarkets, and online retailers, which, in turn, projected to have a positive impact on the market over the forecast period. Furthermore, the expansion of airports and the development of new airports especially in the Asia Pacific and North America projected to drive the market during the forecast period.
The global conveying market is highly competitive in nature. Key players are adopting various strategies including technological developments, merger & acquisitions, partnership, and capacity expansion in order to gain competitive advantage. For instance, in April 2019, Daifuku Co., Ltd. acquired India-based Vega Conveyors and Automation Private Limited.
Request a free sample copy or view report summary: Conveying Equipment Market Report
The belt segment accounted for the largest revenue share of 24.1% in 2022 owing to a rise in demand for belt conveyors in food and beverage, pharmaceutical, airport, and mining applications.
The unit handling segment accounted for the largest revenue share of 45.0% in 2022 and is further expected to expand at the fastest CAGR of 4.1% during the forecast period owing to growing use in industries such as food & beverage processing, shipments, and manufacturing of automotive
The warehouse and distribution segment accounted for the largest revenue share of 22.5% in 2022 and is expected to advance at the fastest CAGR of 4.6% during the forecast period on account of significant growth of e-commerce, online retail, and supermarkets
Asia Pacific dominated the market and accounted for the largest revenue share of 46.6% in 2022 owing to rising industrialization and infrastructural developments in emerging economies such as China, India, and South Korea
Presence of local players in the Asia Pacific region poses a substantial threat to the large multinational companies in terms of product quality and price offered to the customers
Grand View Research has segmented the global conveying equipment market on the basis of on type, product, application, and region:
Conveying Equipment Type Outlook (Revenue, USD Million, 2018 - 2030)
Belt
Roller
Pallet
Overhead
Chain Conveyors
Others
Conveying Equipment Product Outlook (Revenue, USD Million, 2018 - 2030)
Unit Handling
Bulk Handling
Parts & Attachments
Conveying Equipment Application Outlook (Revenue, USD Million, 2018 - 2030)
Food & Beverage
Warehouse & Distribution
Automotive
Airport
Mining
Electronics
Others
Conveying Equipment Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Russia
Spain
Asia Pacific
China
India
Japan
South Korea
Australia
Thailand
Indonesia
Malaysia
Central & South America
Brazil
Argentina
Middle East and Africa
Saudi Arabia
UAE
South Africa
List of Key Players of Conveying Equipment Market
Daifuku Co., Ltd.
BEUMER GROUP
Fives Group
FlexLink
Jungheinrich AG
Kardex
Kion Group AG
KUKA AG
Murata Machinery, Ltd
Phoenix Conveyor Belt Systems
Siemens
TGW Logistics Group
Continental AG
Emerson Electric Co.
"The quality of research they have done for us has been excellent..."