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Companies, including Siemens AG, Rexnord Corporation, Honeywell Intelligrated, Shuttleworth, LLC, Beumer Group, and Hytrol Conveyor Company, Inc., are actively enhancing their market reach through strategic initiatives such as mergers, acquisitions, and partnerships. By joining forces with complementary businesses or acquiring niche players, companies can broaden their product portfolios and reach new customer segments. Additionally, partnerships with technology providers enable them to integrate innovative solutions into their conveyor systems, enhancing performance and meeting evolving customer demands. These collaborative efforts strengthen their competitive positions and drive innovation and growth in the market.
Furthermore, these players are investing in R&D to introduce advanced conveyor technologies that offer higher efficiency, flexibility, and sustainability. By leveraging cutting-edge materials, design techniques, and automation technologies, they can develop conveyor systems that optimize material handling processes and minimize environmental impact. Continuous innovation allows them to stay ahead of the curve and capture market share by offering solutions that align with industry trends and customer requirements. Through these proactive measures, companies are solidifying their presence.
Major players operating in the conveyor system industry include:
The belt segment in the conveyor system market will record USD 10.80 billion and exhibit 5.8% CAGR through 2032, owing to its extensive application across various industries, such as manufacturing, food processing, and mining.
The market size of conveyor system was reached USD 11.75 million in 2023 and will register 5% CAGR from 2024 to 2032, propelled by the shift towards automation in industries.
Beumer Group, Dematic (KION Group), FlexLink AB (Coesia Group), Daifuku Co., Ltd., Fives Group, Honeywell Intelligrated, Interroll Holding AG, Hytrol Conveyor Company, Inc., Siemens AG, Intralox, L.L.C. (part of Laitram, L.L.C.), Rexnord Corporation, and Shuttleworth among others.
North America conveyor system market size will register 5.1% CAGR during 2024 to 2032, attributed to robust industrial infrastructure and technological advancements.