Los Angeles, CA -- (SBWire) -- 10/05/2021 --A new report titled, "Global Intralogistics Conveyor Systems Market Research Report 2020" has been added to the Machinery & Equipment archive of market research studies by QY Research. According to the report, the market for Intralogistics Conveyor Systems was over US$ 11.0 Bn in 2019 and is anticipated to exceed slightly above US $ 16.0 Bn by 2026 end.
The market is anticipated to exhibit an average CAGR of 4.7% during the projected period of 6 years, i.e. from 2020 to 2026. Productivity forms a key concern in the manufacturing sector, thus augmenting the need to optimize the internal workflows. The Conveyor Systems have emerged as an automated solution in mechanizing and maximizing the Intralogistic streams.
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Growing E-commerce Sector to Push the Need for Automation in Manufacturing Process
With the flourishing e-commerce sector, the flow of goods is accelerating and business processes and supply chain are turning increasingly complicated. Need for automation and proper material handling with more intelligence and efficiency is accelerating the adoption of Intralogistics Conveyor Systems in the warehousing and manufacturing industries. These systems have the capability to raise the production efficiency and maximise profitability while cutting down the cost. Contrarily, high installation cost and complex design of these systems may hamper the growth of the Intralogistics Conveyor Systems market.
Belt Conveyors to Witness Increased Demand among End-use Applications
Major type segments studied in the Intralogistics Conveyor Systems market include roller conveyors, overhead conveyors, belt conveyors, pallet conveyors, and other conveyors. Demand for Belt Conveyors is witnessing an upsurge owing to their flexibility to handle material and goods of any shape and size and low cost. The report has also scrutinized the key application segments including food & beverages, automotive, retail, engineering machinery, and others. The retail sector will generate demand for Intralogistics Conveyor Systems as it is becoming much organized these days.
APAC to Emerge as a Promising Region for the Intralogistics Conveyor Systems Manufacturers
The APAC region is expected to present lucrative prospects for the manufacturers of Intralogistics Conveyor Systems on the back of robust industrial growth, especially, automotive, retail, and food and beverages, in the emerging economies. In addition to this, low labor and raw material cost is urging manufacturing firms to set up their base in this region. Rapid adoption of automation in the manufacturing units could act as a crucial factor for the Intralogistics Conveyor Systems market growth in Europe.
Manufacturers to Incorporate Novel Technologies in the Systems
The report has outlined the key strategic activities of the leading players operating in the Intralogistics Conveyor Systems market including SSI Schaefer, Daifuku, Bosch Rexroth, Dematic Group, Murata Machinery, Vanderlande, Swisslog, Fives Group, Siemens, Shuttleworth, BEUMER Group, Honeywell Intelligrated Inc., Buhler Group, Interroll, Flexlink, Taikisha, Hytrol, and Mahindra Tsubaki Conveyor Systems.
The market is considered intensely competitive as the leading manufacturers compete with each other in terms of pricing and quality. In order to acquire a major share in the market, they are incorporating advanced technologies in the Intralogistics Conveyor Systems to enhance the efficiency of the system.
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Global Intralogistics Conveyor Systems Market to Reach Slightly over US$ 16.0 Bn by 2026 End