Conveying Equipment Market Analysis

Conveying Equipment Market Analysis

Bulk handling conveying equipment market observed considerable growth in 2022 and is estimated to gain significant traction between 2023 and 2032. The segment growth is attributed to the extensive usage of bulk handling conveying equipment to unload, load, store, and reclaim bulk materials, such as cement, chemicals, and coal, among others. The increasing demand for raw materials and the robust expansion of infrastructure projects along with the subsequent need for effective bulk-handling solutions will boost the market revenue.
 

Conveying equipment market from the durable manufacturing application segment is set to record substantial share by 2032. The availability of advanced conveyors is enabling the seamless movement of raw materials, work-in-progress items, and finished goods along assembly lines, promoting smooth workflows. The increasing rate of automation in manufacturing had led to the growing need for conveyor systems that can integrate with other production equipment for streamlined operations. Additionally, the rising focus on lean manufacturing practices and just-in-time delivery will fuel the demand for efficient conveying equipment, propelling the segment growth.
 

Asia Pacific holds over 35% share of the global conveying equipment market and is poised to expand at notable growth rate from 2023 to 2032. The increasing popularity of online shopping and the rapid expansion of e-commerce companies has surged the need for efficient and automated material handling systems. Furthermore, with the presence of fast-growing economies such as, China and India, several market players are looking at expanding the intralogistics automation sector, further augmenting the market outlook.