Market Research Predicts the Future of the Conveyor Industry
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If you’re looking for a global growth industry, you could do a lot worse than industrial conveyor systems. At least, that’s the finding of several prominent, recently released market research reports from the likes of Persistence Market Research and Zion Research.
Industries like automotive, food and beverage, manufacturing, and others are on the ascent in an economy finally recovering after the financial crisis of 2008-2009, leading to an increased demand for efficient conveyor technologies and conveyor manufacturers. Let’s take a look at some key findings of these reports.
Top Global Markets for Conveyor Systems
The Americas: Comprised of the nations in North and South America including the U.S., Brazil, Mexico, and Canada, industry in the Americas is booming. The recovery of the automotive industry in the U.S., as well as an overall maturation of economies in more developing nations like Mexico and Brazil is leading to an increase in demand for modern conveyor systems.
Europe: A major, already established market for conveyor systems, Europe’s recovery from the last decade’s financial downturn is coming apace. The full recovery of the European economy and manufacturing sector is expected to bring a robust demand for modernization of existing conveyor systems.
Asia-Pacific: Manufacturing is booming in this region, which includes China, Thailand, Indonesia, and India, and expansion and construction of new facilities means a healthy demand for conveyor systems.
Growing Trends
The cost of raw materials like steel has been on the rise, due to increases in demand without corollary supply increases. For this reason, cost-effective materials like aluminum are increasingly popular.
Another cost-cutting measure is the creation of more efficient conveyor systems to reduce energy costs, and often to come more in line with local environmental regulations. Modern workpiece pallet systems are an example of this trend in action.
In short, current trends are toward increasing long-term efficiency while cutting upfront costs in order to maximize total profit margins for the end-user.
Select Growth Industries
Automotive – Increased demand for new vehicles and the continuing automation of automobile manufacturing is a leading driver of demand for overhead and other conveyor systems.
Food & Beverage – The growing market for processed, Western-style food in developing nations like China and India has led to a boom in food and beverage processing. Food-grade conveyors make keeping up with this demand possible, increasing safety and efficiency for processing, packaging, and bottle applications.
Metal Working – As manufacturing recovers and natural resources dwindle, scrap handling and metal recycling are becoming more necessary and are already more popular than ever. This is increasing demand for heavy-duty conveyor systems capable of carrying large metal pieces in addition to more precise applications like positioning components under dies.
Pharmaceutical – Prescription and over-the-counter medications are a major growth industry throughout the developed world. Similar to the food and beverage industry, sanitation and speedy processing are paramount, leading to a robust demand for modern, versatile conveyor systems.
If you’re in any of these industries or are participating in any of these trends in the United States, contact mk North America for more information about cutting edge conveyor systems and custom conveyor solutions.