Conveying Equipment Market To Reach $71.57 Billion By 2030

Conveying Equipment Market Growth & Trends

The global conveying equipment market size is anticipated to reach USD 71.57 billion by 2030, registering a CAGR of 3.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The robust growth of e-commerce and the need for a high-quality goods management system to maintain high flexibility in the distribution system are the key drivers for the conveyor equipment market. As more people shop online, companies are setting up modern centers to make shipping faster.

The growing industrial expansion contributes to the expansion of manufacturing activities in energy, mining, food & beverage, and production sectors. These industries heavily rely on conveying equipment for tasks like material handling, and manufacturing process control. As the production volume rises to meet the growing demand, the demand for efficient, reliable, and cost-effective conveying equipment is likely to increase over the forecast period.

Moreover, the surge in technological innovations has been contributing to market expansion. Technologically advanced conveying equipment used in industrial compressors improves the productivity and capabilities of various end-use industries, such as food & beverage, automotive & electronics production. For instance, in February 2024 TSGlobal unveiled a range of conveyor belts that manages the way materials are transported within manufacturing facilities, distribution centers, and warehouses. The conveyor belts now have an advanced automation system that optimizes their operations. This system utilizes sensors, machine learning algorithms, and artificial intelligence to enable real-time adjustments and monitoring.

Manufacturers are adopting several strategies, such as acquisitions, mergers, joint ventures, new product launches, and geographical expansion, to enhance market penetration and cater to changing technological demands from various end-use applications, including food & beverage, warehouse & distribution, automotive, and airport.

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Conveying Equipment Market Report Highlights

• Based on type, the belt segment dominated the market with the largest share of 24.0% in 2023, owing to the increasing demand for belt conveyors across sectors such as food and beverage, pharmaceuticals, airports, and mining. Belt conveyors are widely recognized as the most versatile type of conveying equipment, applicable in a broad range of industry settings

• The roller segment is expected to show lucrative growth over the forecast period due to its growing utilization in various material handling tasks, such as baggage handling, loading docks, and assembly lines, among others. Roller conveyors, which consist of rollers aligned in frames, facilitate the movement of products through mechanized systems

• Based on product, the unit-handling segment dominated the market with the largest share in 2023, due to its application for managing small product batches. It is most significantly used in applications like food and beverage processing, warehousing and distribution, and the manufacturing of automotive and other durable goods industries.

• Based on application, the warehouse & distribution segment dominated the market with the largest share in 2023 and is anticipated to witness high growth over the forecast period, owing to the sudden rise of the e-commerce industry, which necessitated the highly flexible supply chain system. Conveying equipment is used to achieve operational flexibility, thereby fueling its demand

Conveying Equipment Market Segmentation

Grand View Research has segmented the global conveying equipment market based on type, product, application, and region:

Conveying Equipment Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Belt

• Roller

• Pallet

• Overhead

• Chain Conveyors

• Others

Conveying Equipment Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Unit Handling

• Bulk Handling

• Parts & Attachments

Conveying Equipment Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Food & Beverage

• Warehouse & Distribution

• Automotive

• Airport

• Mining

• Electronics

• Others

Conveying Equipment Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Spain

  • Russia

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Thailand

  • Indonesia

  • Malaysia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in 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.