New York, US, Jan. 31, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Overhead Conveyor Systems Market Research Report: Information by Application, Weight Capacity, Region, Function, Sales Channel, Vehicle Type, and Technology - Forecast till 2030”, the global overhead conveyor systems market is anticipated to show considerable development during the assessment era from 2022 to 2030 at a healthy growth rate of approximately 5.18%. The reports further anticipate the market to attain a size of around 812.2 million Metric Tons by the end of 2025.
Overhead Conveyor Systems Market Overview:
The global overhead conveyor systems market has showcased tremendous development in recent times. The main aspect supporting the development of the market is the escalating adoption of automated systems in manufacturing and high productivity. Furthermore, factors such as system's high efficiency, flexibility throughout the manufacturing plant process, return-on investments, rising adoption of automated systems in manufacturing, and high productivity are also anticipated to influence the market's performance over the coming years positively.
Competitive Analysis
The catalog for the leading participants across the global market for automotive motor oils includes players such as:
- CALDAN Conveyor A/S
- SSI SCHAEFER AG
- Jiangsu Huazhang Logistics Technology Co., Ltd
- Dematic
- PACLINE OVERHEAD CONVEYORS
- KEWESTA GmbH
- TGW LOGISTICS GROUP
- Rapid Industries, Inc.
- Vanderlande Industries
- Bastian Solutions, Inc.
- Dürkopp Fördertechnik GmbH
- Allied Conveyor Systems
- Daifuku Co., Ltd
- Schönenberger Systeme GmbH
- Ferag AG
- Herbert Kannegiesser GmbH
- psb intralogistics GmbH
- OCS Overhead Conveyor System Ltd
- JENSEN-GROUP
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Overhead Conveyor Systems Market USP Covered
Market Drivers
The global overhead conveyor systems market has showcased tremendous development in recent times. The main aspect supporting the development of the market is the escalating adoption of automated systems in manufacturing and high productivity. Furthermore, factors such as system's high efficiency, flexibility throughout the manufacturing plant process, return-on investments, rising adoption of automated systems in manufacturing, and high productivity are also anticipated to influence the market's performance over the coming years positively.
Market Restraints
On the other hand, the expensive cost of installation may limit the market's growth. In addition, the complex structure of these overhead conveyor systems is another prime hindering aspect to the global market's growth.
Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | 2025: 812.2 million Metric Tons 2030: Significant value |
| CAGR during 2022-2030 | 5.18% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | Increase production volume in emerging economies |
| Key Market Drivers | Increasing exports of automated products Rising adoption of automatic conveyor systems in manufacturing plants Labor shortage across several sectors Growing demand for automation by Japanese automotive manufacturers to enhance efficiency |
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COVID-19 Impact
The global health hazard in the shape of COVID-19 has had a massive impact on most industry sectors. Considering the rapid spread of the infectious disease, several governments across the globe announced partial or complete lockdowns for quite a long time. Consequently, the industry operations were halted, and some businesses shut down. Given the sudden fall in demand for vehicles and travel restrictions imposed, the overhead conveyor systems market faced several unexpected challenges during the pandemic. On the other hand, with the rapid vaccination rates and all the global industrial operations returning to normal, the market is anticipated to experience substantial development over the forecasted timeframe.
Overhead Conveyor Systems Market Segment Analysis
Among all the sales channels, the main contractor segment secured the top spot across the global overhead conveyor systems market in 2018, with a maximum contribution of approximately 65.72%. The segment was worth USD 377.6 million in 2018. The segment is anticipated to show the maximum development over the assessment timeframe from 2022 to 2030 at a healthy CAGR of approximately 5.89%. Main contractors are involved in the individual delivery and marketing of parts and equipment developed by the market players. The contractors install and procure overhead conveyor systems and offer aftersales services to the end-use sectors. The overhead conveyor systems contractors contemplate the needs per the application of overhead conveyor systems and provide standard or customized conveyor systems to the customers. Such aspects are anticipated to influence the segment's development over the coming years positively.
Among all the types, the belt conveyor segment is anticipated to ensure the top spot across the global overhead conveyor systems market over the coming years. the primary parameter supporting the development of the segment is the rise in the demand for belt conveyor in food and beverage, mining, airport, and pharmaceutical applications. It is considered the most popular conveying equipment providing a wide variety of applications across the end-use sectors. They are operated at several different speeds. On the other hand, the roller conveyor segment is anticipated to exhibit the maximum growth rate over the coming years owing to the increasing adoption of material handling applications.
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Among all the products, the unit load segment is anticipated to ensure the top spot across the global overhead conveyor systems market over the coming years. the utilization of unit handling equipment is mainly for handling small batches, which is the most broadly applicable in end-use sectors. It assists in maintaining sustainability by lowering energy consumption and optimizing production output. On the other hand, the bulk handling equipment is anticipated to showcase the maximum growth rate over the coming years. the growth of the segment is ascribed mainly to the growing industrialization. Various bulk handling equipment includes coal handling equipment, conveyor belts for coal, belt conveyors, truck loaders, coal handling systems, etc.
Among all the end-use sectors, the warehouse and distribution end-use segment is anticipated to contribute the maximum share across the global overhead conveyor systems market over the coming years. the growth of the segment is ascribed to the aspects such as growing demand for the e-commerce industry along with the significant growth of supermarkets online retails.
Overhead Conveyor Systems Market Regional Analysis
The global overhead conveyor systems market is analyzed across five major regions: Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa.
The MRFR analysis reports suggest that the European region is anticipated to ensure the top position across the global overhead conveyor systems market over the review era. The regional market's growth is ascribed to the presence of countries such as the UK, Italy, and others. Furthermore, factors such as the need to reduce manufacturing costs, increase in demand for higher productivity with energy-efficient technologies, adoption of smart manufacturing methods, and adoption of SCADA-based automation are also anticipated to positively influence the performance of the market over the coming years.
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The Asia-Pacific regional market for overhead conveyor systems is predicted to showcase the maximum growth rate over the coming years. the growth of the regional market is ascribed to the aspects such as the increasing number of industries and the need for efficient material handling system products.
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