DUBLIN–(BUSINESS WIRE)–Feb 17, 2021–
The "Europe Conveyor System Market Forecast to 2027 – COVID-19 Impact and Regional Analysis by System Type, Belt Type, and Industry" report has been added to ResearchAndMarkets.com’s offering.
The conveyor system market in Europe is expected to grow from US$ 1,863.42 million in 2019 to US$ 2,691.58 million by 2027; it is estimated to grow at a CAGR of 5.0% from 2020 to 2027.
The e-commerce industry is one of the mature industries in Europe and is growing at an unprecedented adoption rate. Hence, rising e-commerce industries in Europe are thriving in the business for conveyor systems. The conveyor system is one of the significant components of e-commerce for managing products, such as poly bags, padded envelopes, totes, cases, and cartons. In the e-commerce business, conveyor system providers upgraded technology, scalability & flexibility, and efficiency to the end users. The rising usage of online retailing and changing consumer behavior toward purchasing are positively impacting the adoption of conveyor systems. If the consumers buy something online and decide to return it because of some reason, the consumers anticipate the return process to be as rapid and convenient as the purchase process. For such processes, vendors require conveyor systems to move those products effectively. Additionally, several companies invested in the conveyor systems facility are likely to surge their capacity, owing to the growing demand for this system. Also, rapid vehicle production to boost the demand for conveyor systems is among the other factors expected to positively influence the demand for conveyor systems.
In terms of belt type, the medium segment led the Europe conveyor system market in 2019. Medium type belt is used for mechanical transportation of loads or products in the construction and mining industries, where the conveyor system operates with higher belt speeds. This belt type with moderately thick abrasion-resistant top cover is also used for the wood product, agricultural, distribution, industrial, and warehousing industries. It allows boxes, packages, cases, and other products to be conveyed on both inclines and declines. Several companies are inclined toward designing and manufacturing medium belt types for various industries.
Europe is severely affected by the ongoing COVID-19 pandemic. Russia, France, Spain, UK, Italy, and Germany are some of the worst affected member states in the European region. Businesses in the region are facing severe economic difficulties as they had either to suspend their operations or substantially reduce their activities. Owing to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to witness an economic slowdown in 2020 and most likely in 2021. The member states of Europe, such as the UK, Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit coronavirus spread among its citizens. European countries represent a major market for the conveyor system due to growing vehicle production, especially Germany. The systems help convey the parts used in vehicles and generate free space for new operations. The automotive industry in these countries has been affected by the pandemic due to a halt in the production of vehicles. All these factors are expected to have a direct impact on the conveyor system market growth in European countries. Conveyor system markets in Italy, Spain, Germany, the UK, and France are anticipated to see the worst impact in 2020 and likely in 2021.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe conveyor system market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe conveyor system market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the conveyor system market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
- Growing E-commerce Industry to Increase the Demand for Conveyor Systems
- Rapid Vehicle Production to Boost the Demand for Conveyor Systems
- Environmental Worries Owing to Mining Activities
- Rising Digitization Providing Opportunities for Conveyor System
- Acceptance of Industrial 4.0 in Manufacturing Industry
- Daifuku Co., Ltd.
- Emerson Electric Co.
- Honeywell Intelligrated
- Interroll Holding GmbH
- Siemens AG
- SSI Schafer
- TGW Logistics Group
- Vanderlande Industries B.V.
For more information about this report visit https://www.researchandmarkets.com/r/cb2pmn
View source version on businesswire.com:https://www.businesswire.com/news/home/20210217005603/en/
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INDUSTRY KEYWORD: TECHNOLOGY HARDWARE CONSUMER ELECTRONICS
SOURCE: Research and Markets
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PUB: 02/17/2021 08:54 AM/DISC: 02/17/2021 08:54 AM