In 2013, the global conveying equipment market was worth USD 31.89 billion. These
equipments provide an efficient, cost-effective and accurate technique for the
rapid and easy movement of goods from one place to another. Conveyor belts are
usually prepared from rubber and secured with textiles, PVC or steel according
to the application. These are used as carriers for goods across numerous end use
industries such as steel works, power, ports, metal mining & coal, cement,
airports and food & beverages.
Conveyors lead to diminish the
manufacturing time that, in turn, help plants in attaining operational
efficiency. Conveying equipment are used for decreasing human effort and time
in the transfer of goods from one place to another. They can be set up anywhere
and are considered to be harmless as compared to using a forklift and other
machines for the movement of goods. The making of modified conveying equipment
is enabled by the increased industrial production and developments in
technologies.
Unit handling was the largest product type
which accounted for over 45% of the market in 2013. Key uses of unit handling
equipment include the monitoring of lesser batches which are most largely
applicable in businesses such as shipments, food & beverage processing and
other productions for durable goods. However, parts & attachments is
projected to witness the highest growth rate, at an estimated CAGR of 2.4% from
2014 to 2020.
Full research report on conveying equipment
market analysis: http://www.grandviewresearch.com/industry-analysis/conveying-equipment-market
Durable goods accounted for the highest
market share of over 40% in 2013. Growing demand for computer equipment and
industrial machinery has led to the high growth of durable goods. Durable goods
is also forecasted to witness the highest growth rate, at an anticipated CAGR
of 2.0% from 2014 to 2020.
Europe accounted for over 60% of the global
market in 2013.The growth in this region is driven by the presence of few top
automobile manufacturers such as Audi, Mercedes and Ferrari. Europe is also
projected to have the highest growth at an estimated CAGR of 1.6% over the
forecast period.
Global conveying equipment market is
amalgamated with few companies leading the market. The top three participants
include Dematic, Rexnord and Sandvik and together they accounted for over 35%
of the total market in 2013. The industry is moderately fragmented. The small
unorganized companies across China and South Korea are taking ardent steps such
as M&As to gain market share. There are ample opportunities for the new
entrants, however high initial investment leads to restraining them from
entering the industry.
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Grand View Research has segmented the
conveying equipment market on the basis of product, application and region:
Global Conveying Equipment Product Outlook (Revenue, USD
Million, 2012 - 2020)
·
Bulk Handling
·
Unit Handling
·
Parts and Attachments
Global Conveying Equipment Application Outlook (Revenue,
USD Million, 2012 - 2020)
·
Durable Goods Manufacturing
·
Nondurable Goods Manufacturing
·
Other
Conveying Equipment Regional Outlook (Revenue, USD
Million, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
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release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-conveying-equipment-market
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View Research
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