Conveying Equipment Market Growth Analysis | 2022-2028

Market Insights

The conveying equipment market was estimated at USD 43.79 billion in 2021 and is likely to grow at a CAGR of 3.14% during 2022-2028 to reach USD 54.75 billion in 2028.

What is conveying equipment?

Conveying equipment is used for transporting objects from one place to another over a stationary structure. Such equipment carries objects in a continuous stream with its distinct features such as endless chain or belt. The conveying equipment can move objects horizontally, vertically, or inclined.

Key Players

Some of the major players in the market are-

• Beumer Group GmbH & Co.
• Caterpillar Inc.
• Daifuku Co. Ltd.
• Fenner Group Holdings Ltd.
• Fives Group
• Flexlink
• Intelligrated, Inc.
• Jungheinrich AG
• Kardex Group
• Kion Group AG.

Market Dynamics

The prime factor that is contributing to the demand for conveying equipment is the growing adoption of automation in various industries across the globe.

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Segment Analysis

By Product Type

Based on the product type, the market is segmented as bulk handling equipment, unit handling equipment, and parts & attachments. The bulk handling equipment segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period, owing to its utility in conveying materials such as cement, coal, chemicals, and others.

By Application Type

Based on the application type, the market is segmented as durable manufacturing, food & beverage, general merchandise, mining & construction, transportation, and warehouse & distribution. The durable manufacturing segment accounted for the largest share by application in 2021 and is expected to maintain its dominance over the forecast period triggered by the faster and more efficient solution offered by such equipment thereby, improving productivity.

Regional Insights

In terms of regions, Asia-Pacific is estimated to contribute to the largest market share during the forecast period. The Asia-Pacific market is expected to grow with a lucrative CAGR due to rapid industrialization, especially in food & beverages, e-commerce, and automotive sectors in countries such as India, China, Indonesia, South Korea, Thailand, and Malaysia. North America and Europe are also expected to offer sizeable market opportunities during the forecast period.

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Critical Questions Answered in the Report

• What are the key trends in the global market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The conveying equipment market is segmented into the following categories.

By Product Type

• Bulk Handling Equipment
• Unit Handling Equipment
• Parts & Attachments

By Application Type

• Durable Manufacturing
• Food & Beverage
• General Merchandise
• Mining & Construction
• Transportation
• Warehouse & Distribution

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

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