Automotive industry incorporates lean production which requires conveyors to reduce time and production cost. Growth in infrastructure spending in emerging countries is expected to act favorable to the overall regional market. Rapid growth in public transportation coupled with growing number of airports is expected to a key driver of the global conveying equipment market. Shift in trend of overdependence on the volatile durable goods may emerge as a key challenge on the path of the conveying equipment market. Setting up of equipments, parts & accessories for automation can be a matter of cost and huge capital investments is required for the process which sometimes has a negative effect on the overall conveying equipment market.
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Rising trend of e-commerce and with a change in pattern of distribution channels from the merchants to the client coupled with enlargement in food & beverage industry which requires horizontal production and at the same time delivery of goods are expected to create new opportunities for the global conveying equipment market.
Product Insights
Unit handling was the largest conveying equipment product segment and accounted for more than 40% in 2012. These are used to maintain sustainability and minimize energy consumption and optimize the overall production output. Hence reduces maintenance cost and increases the life expectancies. Unit handling equipments are one critically required in any industry as they used in both manufacturing and shipping. Bulk handling equipments accounted for more than 30% in 2012. Growth in industrialization rate is expected to have a positive influence on the bulk handling equipment. Bulk handling equipment ranges include conveyor belt system, conveyor belts for coal, coal handling systems, alternate fuel handling and coal handling equipment.
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Application Insights
Construction, mining, and medical applications combined were the largest conveying equipment application market and accounted for over 40% of the total market in 2012. Growth in industrialization rates and demand for coal as a fuel for almost every industry is expected to have a positive impact on the conveying equipment application market. Infrastructure spending in emerging countries including China, India and Brazil is expected to act favorable for the overall market growth over the forecast period. Other applications include durable and nondurable goods manufacturing industry.
Regional Insights
Europe was the largest regional conveying equipment market and accounted for more than 35% in 2012. High degree of industrialization rates coupled with manufacturers investing on R&D and technological advancements in this region has resulted in the rapid growth of conveying equipment market. Increased usage of automation in almost every industry including mining, fertilizer, chemical, bulk packaging and warehouses is expected to be a significant factor for the market growth in this region.
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Asia Pacific is anticipated to witness highest growth rate over the next six years owing to the fantastic growth of industrialization rate of China and the mounting industrial production. Indian manufacturing companies are also resorting to specialized production processes and are expected to have a positive outlook for conveying equipment market.
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