Stratview Research has published a new report on the Conveying Equipment Market and bifurcated the market by Product Type (Bulk Handling Equipment, Unit Handling Equipment, and Parts & Attachments), by Application Type (Durable Manufacturing, Food & Beverage, General Merchandise, Mining & Construction, Transportation, and Warehouse & Distribution), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Insights
According to the report, conveying equipment market is likely to witness a steady CAGR of 3.7% during the forecast period.
What are the factors that drives the Conveying Equipment Market?
The prime factor that is contributing to the demand for conveying equipment is the growing adoption of automation in various industries across the globe.
What is conveying equipment?
Conveying equipment are used for transporting objects from one place to another over a stationary structure. Such equipment carry objects in continuous stream with its distinct feature such as endless chain or belt. The conveying equipment can move objects horizontally, vertically or inclined.
How does the report help?
The reports provided by Stratview Research are a comprehensive analysis of the market potential in various industry applications. The researchers and analysts study the market minutely and focus on the opportunity of the emerging economies of the globe, so that companies can strategically make region specific plans and gain competitive edge.
KEY BENEFITS:
- This report helps the users in understanding the strategies adopted by various key players across the globe, for the growth of the Conveying Equipment Market.
- The report studies the market conditions across all geographic regions and the data compiled here in the report are comprehensively analyzed.
- The drivers and restraints of this market are systematically analyzed so that the user could make use of every particular driver/opportunity related to the market.
- The report highlights the value chain analysis that offers key insights to the stake holders of this market.
Segment-Wise market Analysis
Based on the product type, the market is segmented as bulk handling equipment, unit handling equipment, and parts & attachments. The bulk handling equipment segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period, owing to the utility in conveying materials such as cement, coal, chemicals, and others.
Based on the application type, the market is segmented as durable manufacturing, food & beverage, general merchandise, mining & construction, transportation, and warehouse & distribution. The durable manufacturing segment accounted for the largest share by application in 2019, and is expected maintain its dominance over the forecast period triggered by the faster and efficient solution offered by such equipment thereby, improving productivity.
In terms of regions, Asia-Pacific is estimated to contribute for the largest market share during the forecast period. The Asia-Pacific’s market is expected to grow with a lucrative CAGR due to the rapid industrialization especially in food & beverages, e-commerce, and automotive sectors in countries such as India, China, Indonesia, South Korea, Thailand, and Malaysia. North America and Europe are also expected to offer sizeable market opportunities during the forecast period.
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