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Conveying Equipment Market Size

Report ID: GMI754
Published Date: Aug 2023
Report Format: PDF

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Conveying Equipment Market Size

Conveying Equipment Market size is anticipated to grow at a CAGR of over 5% CAGR between 2023 and 2032, owing to the strong global outlook on automotive production.

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The rapid expansion of the automotive industry has led to the growing demand for efficient material handling solutions to support manufacturing processes. Conveying equipment plays a crucial role in automating assembly lines for ensuring smooth movement of components and reducing production lead times. With rising advancements in conveyor technology, several automotive manufacturers can achieve higher productivity, reduce production costs, and maintain quality standards. Additionally, the growing trend towards electric vehicles and advancements in smart manufacturing will augment the need for innovative conveying equipment.

Conveying Equipment Industry Growth Drivers and Restraints

The increasing adoption of automation and Industry 4.0 practices in manufacturing and logistics will fuel the demand for advanced conveying equipment for facilitating seamless material handling and integration with other smart technologies. The booming e-commerce industry will also augment the conveying equipment market outlook. The complexity and sophistication of conveying systems leading to the growing demand for skilled technicians and operators may restrict the market expansion. Moreover, the challenges faced by multiple companies in adopting new technologies and fully utilizing the potential of conveying equipment will limit the overall market growth.

Conveying Equipment Market Report Attributes
Report Attribute	Details
Base Year:	2022
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	3.5%
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	172
Segments covered:	Product, Application and Region
Growth Drivers:	Strong global outlook on automotive production Growth in the global aviation industry Increasing demand for advanced conveyors in the U.S. Rising labor costs and inconvenience of employing a manual workforce in North America and Europe Ongoing industrialization and rise in demand for cost-efficient systems in Europe & Asia Pacific Growth in the Asia Pacific and MEA mining industry Development of manufacturing sector in South-East Asian countries Flourishing e-commerce industry in Asia Pacific & Latin America
Pitfalls & Challenges:	Need for trained workforce Declining capital investment High capital investment for setting manufacturing facility and maintenance costs Rising usage of AGVs & robotics

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size for conveying equipment is estimated to record over 3.5% CAGR from 2023 to 2032, driven by the strong global outlook on automotive production.

Bulk handling conveying equipment market is set to witness considerable growth through 2032, attributed to surging demand for effective handling equipment along with increasing need for raw materials and the expansion of infrastructure projects.

Asia Pacific holds over 35% share of the conveying equipment industry and will witness notable CAGR from 2023 to 2032, owing to the increasing popularity of online shopping and the rapid expansion of e-commerce companies.

Some of the top firms operating in the global market are Murata Machinery, Ltd., Mecalux S.A., Taikisha Global, Jungheinrich AG, Daifuku Co., Ltd., Fives Group, Fenner Group Holdings Ltd., TGW Logistics Group GmbH, Flexlink, Intelligrated, Inc., Kardex Group, and Kion Group AG.