Global Conveyor Systems Market to Grow at a Steady CAGR of 3.5% due to Need for Conveyor belts across Airports

The global conveyor systems market has consolidated competitive landscape, and a handful of players have captured a substantial market share. The demand for conveyor belts has been tracing an upward graph and the market players are eyeing the lucrative opportunities that float in the global market. The expertise of the leading market players coupled with their effective business hacks have helped them reach the pedestal of growth. The top market players that held around 50% of the total market share in 2017 are Schaefer Systems International Inc., Daifuku Co. Ltd., Dematic Group, and Murata Machinery Ltd. These market players have used quality and durability as their unique selling point and are expected to thrive on the same propositions over the coming years.

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Furthermore, these leading market players are expected to resort to a range of strategies to retain their dominance in the global market for conveyor systems. On the other hand, the local and regional players are projected to rely on reducing their operational and manufacturing costs to increase their profit margins. Mergers, strategic alliances, partnerships, and acquisitions are also expected to be a key highlight of the global market for conveyor systems. There are strong barriers to the entry of new players in the global market because of the strongholds of the existing vendors. Besides this, the sustenance of new entrants in this largely consolidated global market would suffer major roadblocks.

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A report published by Transparency Market Research (TMR) analyses the trends and opportunities floating in the global market for conveyor systems. The report forecast key indicators of growth such as market value, regional market share, and growth rate. The global market for conveyor systems is expected to grow at a CAGR of 3.5% over the period between 2017 and 2025. The global market was valued at US$4697.1 mn in 2016 and is expected to reach a value of US$6312.5 mn in 2025.

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Pragati Pathrotkar

As one of the lead news writers on cmfenews, Pragati’s specialization lies in the science and technology domains. Her passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Pragati’s take on the impact of digital technologies across the science, technology, and business domains gives her writing a fresh and modern outlook.

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