June 13, 2023 09:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
Valley Cottage, New York, UNITED STATES Automatic Item Sorter
NEWARK, Del, June 13, 2023 (GLOBE NEWSWIRE) -- The conveyor system market will be worth US$ 6.4 billion globally in 2023. According to reports from Future Market Insights, the market is predicted to grow at a CAGR of 5.45% from 2023 to 2033 and will be worth US$ 10.9 billion by 2033.
The growth in vehicle production is expected to accelerate the market growth. In addition, an increase in mining activities around the globe, with an increase in passenger handling capacities of airports & freight, rising e-commerce trends will boost the demand for conveyor systems. A rise in demand for processed will increase demand for the same in the food & beverage industry.
Upliftment of advanced technologies in conveyor systems, with growth in digitization in the material handling industry, and increase in advanced conveyor systems will further create new opportunities for the conveyor system market in the forecasted time period. Rise in initial investments, with rising concerns over the environmental impact of mining activities and an increase in the usage of automated guided vehicles & robotics are the major factors among others restraining the market growth.
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Sales of global conveyor systems market expanded at a CAGR of 4.2% from 2018 to 2022:
“Impact of circular economy on conveyor system market is one of the major driver of the global conveyor systems market,”- says an analyst at Future Market Insights (FMI).
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Some of the prominent players in this market are-
Some of the important developments of the key players in the market are:
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3.8. PESTLE and Porter’s Analysis
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Operation Type
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Operation Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Operation Type, 2023 to 2033
6.4. Y-o-Y Growth Trend Analysis By Operation Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Operation Type, 2023 to 2033
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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