North America Conveyor System Market to Grow at a CAGR of 4.5% to reach US$ 2,747.41 Million from 2020 to 2027

The conveyor system market in North America is expected to grow from US$ 1963.15 million in 2019 to US$ 2,747.41 million by 2027; it is estimated to grow at a CAGR of 4.5% from 2020 to 2027.

The US, Canada, and Mexico are major economies in North America. Blooming E-commerce industry to bolster the demand for conveyor systems and this is driving the North America conveyor system market in a positive way. The e-commerce industry is one of the mature industries in the US and is growing at an unprecedented adoption rate across North America. As per the Census Bureau of the Department of Commerce, the US retail e-commerce sales were accounted for US$ 160.3 billion for the first quarter of 2020, which depicted a growth of 2.4% from the fourth quarter of 2019. Hence, the rising e-commerce industries in North America 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 offer 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 back because of some reason, the consumer 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. A shorter delivery time progressively becomes crucial for several enterprises operating in the e-commerce industry. As per the survey in 2016, conducted by Dotcom Distribution, an e-commerce fulfillment company, ~87% of online shoppers recognized shipping speed as a significant factor in shopping with an e-commerce brand. Moreover, the price has not even been considered as crucial as speed. ~67% of online shoppers would pay more money to get same-day delivery. The conveyor systems play an important role for the fulfillment of convenient and rapid deliveries. Therefore, all the above factors are scaling up the conveyor systems market size year on year.

Further, North America is severely affected by the COVID-19 pandemic. North America is one of the significant regions for the adoption and growth of advanced technologies due to favorable government policies to accelerate innovation, a huge industrial base, and high purchasing power, especially in developed countries, such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region negatively. The US is a prominent market for the conveyor systems, especially in the logistics sector. The huge increase in number of confirmed cases and rise in reported deaths has affected this industry. The factory and business shutdowns across the US, Canada, and Mexico are impacting the adoption of the conveyor system market. COVID-19 has had a severe impact on logistics operations, transportation, and trade activity. Owing to this pandemic, the manufacturing sector is facing dormancy because of the business shutdown. The companies resuming their manufacturing facilities face scaled-down production for conveyor belt systems due to a massively affected supply chain. This would hinder the adoption of conveyor systems in the region. The impact of the coronavirus outbreak is anticipated to be quite severe in the year 2020 and likely in 2021. However, online retailing and food businesses have boosted sales in the region. Consumers are spending on products that would help them manage the COVID-19 crisis. The impact of COVID-19 is short-term; it is likely to decrease in the coming years.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America conveyor system market. The North America conveyor system market is expected to grow at a good CAGR during the forecast period.

North America Conveyor system Market Segmentation

North America Conveyor system Market – By System Type

• Overhead
• Floor
• Roller
• Belt
• Others

North America Conveyor system Market – By Belt Type

• Light
• Medium
• Heavy

North America Conveyor system Market – By Industry

• Food & Beverage
•  Automotive
• Airports
• Logistics
• Metals and Mining
• Others

North America Conveyor system Market, by Country

• US
• Canada
• Mexico

North America Conveyor system Market - Companies Mentioned

 

• Daifuku Co., Ltd.
• DEMATIC
• Emerson Electric Co.
• Honeywell Intelligrated
• Interroll Holding GmbH
• Siemens AG
• SSI Schäfer
• Swisslog
• TGW Logistics Group
• Vanderlande Industries B.V.

North America Conveyor System Market Report Scope

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