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.
Browse full research report on Conveying Equipment Market: 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
• 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
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-conveying-equipment-market
About Grand View Research
Grand View Research, Inc. is a
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