- The key vendors in the Global Conveyor Equipment Market 2015-2019 are Daifuku Co. Ltd., Dematic Group S.a.r.l and Swisslog Holding AG.
London, 20 January 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Conveyor Equipment Market 2015-2019. The development of conveyor belt technologies is a major trend in the market. Key vendors are developing low-cost high TS conveyor belts with enhanced durability and load carrying capacity, which helps reduce the overall costs associated with conveyor equipment. The Global Conveyor Equipment market is expected to grow at a CAGR of 1.78 percent during the period 2014-2019.
The speedy growth of manufacturing activities in process and discrete manufacturing industries is one of the major drivers of the growth of the market. Various process industries such as F&B, Oil and Gas, and Petrochemicals use conveyor equipment to transfer finished goods or goods from the work-in-progress stage to the manufacturing process, which includes processing, packaging, and assembling.
“Several vendors are incorporating electronic intelligence into the conveyor belt systems for monitoring the belt condition, speed, force, tension, torque, vibration, power, and temperature for increased operational efficiency,” says Faisal Ghaus, Vice President of TechNavio Research.
“Effective integration of industry-specific conveyor equipment with electronic systems would enable easy and effective controllability of the equipment for achieving superior operations.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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