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.
New York, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Conveyor System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by System Type, Belt Type, and Industry" - https://www.reportlinker.com/p06004158/?utm_source=GNW
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.For instance, Esbee Machinery Pvt.
Ltd. offers medium belt conveyor system with robust aluminum profile structure, drive and tail options as per functions, and stainless steel slider bed. It is used in stamping, injection molding, packaging, and vision inspection applications. Conveyer & Caster Corporation provides gravity conveyor systems, a medium conveyor system used in industrial and warehousing applications. Additionally, Monk Conveyors, a UK-based company, offers a medium belt suitable for use in production lines where space is limited. It is made from standard modules and is swift, easy to construct, and has a low noise level. Hence, several players are offering medium belts, which is likely to propel the growth of the conveyor system market during the forecast period.
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.
The overall Europe conveyor system market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the Europe conveyor system market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the Europe conveyor system market. Daifuku Co., Ltd.; DEMATIC; Emerson Electric Co.; Honeywell Intelligrated; Interroll Holding, GmbH; Siemens AG; SSI Schäfer; Swisslog; TGW Logistics Group; and Vanderlande Industries B.V. are among a few players operating in the Europe conveyor system market.
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