Global and U.S. Conveying Equipment Market to Record an Exponential CAGR by 2018
Driven
by widespread introduction of mass production and assembly line
methodologies in varying industries, the Global and U.S Conveying
Equipment Market, which stood at US$30.76 billion in 2011, is
projected to reach US$34.71 billion by the end of 2018. According to
the report titled “Global and U.S. Conveying Equipment - Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018”
the global conveying belt market will grow at a CAGR of 1.8% during
the forecast period from 2012 to 2018.
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Report Overview @
Published
by Transparency Market Research, the study observes that the surge in
demand for automobiles worldwide coupled with the growing requirement
for customized conveying equipment is expected to boost the demand
for conveying equipment in the global scenario. However, volatility
in demand from the durable goods industry might have a profound
impact on the conveying equipment market. The findings of the report
indicate that a growing incidence of ecommerce together with a
paradigm shift in the distribution networks of products from
manufacturers to merchants and from merchants to clients, along with
the expansion of the food and beverage industry that follows a linear
path for both production and mobility of goods, is anticipated to
create fresh opportunities for the market to capitalize on in the
next 4-5 years.
The
unit handling equipment segment emerged as the largest segment of the
market in 2011, accounting for 44.9% of the market. This equipment
found use in both manufacturing and shipping of industrial products,
which also made them a primary requirement for several industries.
However, over the forecast period, the parts and attachment segment
is projected to emerge as the fastest growing segment in the
conveying equipment market, registering growth at a projected CAGR of
2.2% between 2012 and 2018. Similarly, the report predicts the global
market for bulk handling equipment will surpass US$11 billion by the
end of 2018. The global market for conveying equipment was dominated
by Europe in 2011. The region accounted for 35.9% of the overall
market. The expansion of the market in this region was bolstered by
the presence of many leading automobile manufacturers in countries
such as Italy, France, and Germany.
The
conveying equipment market in North America alone is expected to be
worth US$8,457.8 million by 2018. The U.S. was the largest
contributor to the North America conveying equipment market. The
country accounted for revenue of about US$6,618.2 million in 2011.
However, the analysts foresee tremendous growth for the conveying
equipment market in Asia Pacific. The region is expected to emerge as
the fastest growing market over the forecast period at an estimated
CAGR of 2.3%. The rapid expansion of industries mainly in India and
China will drive the demand for conveying equipment in Asia Pacific.
The conveying equipment market in the U.S. is dominated by unit
handling equipment, which accounted for 33% of the overall market in
2011. It is expected to reach US$3,452.3 million by the end of 2018.
The market for parts and attachments in the U.S. will grow at a 2.3%
CAGR.
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The
report also profiled leading market players such as Fenner Dunlop,
Rexnord, Dematic, Nordstrong Equipment Ltd., Webster Industries,
Intelligrated Inc., and Sandvik AB.
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Email: sales@transparencymarketresearch.com
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