Conveying equipment facilitates easy and swift movement of goods between locations. It reduces human effort, saves time, and is often integral to smooth operations. Higher adoption of mass production and assembly line processes has increased demand for conveying equipment like roller conveyors, chain conveyors, etc.
Technological advancements and industrial growth are having a positive impact on market growth. Key demand driver is the growth of manufacturing in emerging economies of India, Brazil and China. The market is adversely affected by fluctuations in prices of important raw materials like rubber and metals.
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Rubber is a common material used to make conveyor belts. They are reinforced with textiles, steel, or other materials according to the application. Hydraulic, fully automated, and mechanical are the three ways in which the equipment is operated. Businesses focus on regular monitoring of reducers and motors, training of workers, regular inspections, etc. to enhance productivity.
Global conveying equipment market would be worth USD 36.5 billion by 2020. It is categorized on the basis of products, applications and geographies. Products are of three types, viz. bulk handling, unit handling, and parts & attachments. Unit handling was the leading segment in 2013. Parts & attachments should grow at the fastest rate.
Main application segments are nondurable goods manufacturing, durable goods manufacturing, and other. Other includes mining and construction. Durable goods accounted for almost 40% of the total revenues in 2013. Boom in sectors like industrial machinery and computer equipment is triggering demand. Nondurable goods will grow at a CAGR of 1% over the next six years.
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Geographies comprise Europe, North America, Asia Pacific and RoW (Rest of the World). Europe held over 34% of the total global revenues in 2013. This made it the leading region for conveying equipment that year.
Europe is home to automobile giants like BMW, Ferrari, Mercedes and Audi. This has generated high demand for conveying equipment. Asia Pacific stood in second place in 2013. With a CAGR of 2.4%, it is deemed to be the fastest growing geography from 2014 to 2020. Accelerated industrialization in upcoming economies like China and India is propelling growth.
Major global players are Dematic Group Sarl, Dearborn Mid-West Conveyor, Hytrol Conveyor and Nordstrong Equipment Ltd. Other vendors of repute include FMC Technologies, Fritz Schafer, Siemens AG, Vanderlande Industries and Richards Wilcox. The market is highly fragmented. Top four participants accounted for only about 40% of the total demand in 2013.
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