Conveyor Systems Market in Europe 2019-2023 | Industry Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Dec 4, 2018--The research report by on the conveyor systems market in Europe predicts the market to post a CAGR of close to 5% during the period 2019-2023.
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Technavio has released a new market research report on the conveyor systems market in Europe for the period 2019-2023. (Graphic: Business Wire)
A key driver for the conveyor systems market in Europe is the warehouse space expansion in Europe. The increasing opportunities from pharmaceutical and automation industries are driving the expansion of warehouse capacity in Europe. Owing to the presence of many automotive manufacturers, Germany has the highest warehouse capacity when compared with other countries in Europe. The expansion in warehouse capacity will increase the demand for warehouse material handling equipment such as conveyor systems, which is expected to drive market growth.
This research report on the also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the rising demand for reduced footprint conveyor systems as one of the key trends in the conveyor systems market in Europe:
Conveyor systems market in Europe: Rising demand for reduced footprint conveyor systems
The demand for conveyor designs that occupy minimal space in the manufacturing plant or warehouse is increasing among the end-users. New compact conveyor designs that consider the market requirements are emerging across the globe. The demand for conveyor systems with DC-powered drive drum motor that is smaller in size is higher than the traditional conveyor system. The DC-powered drive drum motor equipped conveyor systems provide minimum space utility and improved mechanical and electrical efficiency over traditional conveyor systems.
“The adoption of compact pallet handling conveyor systems by end-users helps them in reducing the carbon footprint as features such as stopping, locating, and rotating are being combined into a single module. The implementation of compact pallet handling conveyor systems assists the end-users in reducing the operating cost associated with high space occupancy at a warehouse or manufacturing plant,” says a senior research analyst at Technavio.
Conveyor systems market in Europe: Segmentation analysis
This research report on the conveyor systems market in Europe segments the market by end-user (e-commerce and 3PL, automotive, food and beverage, and retail), by conveyor system type (unit handling and bulk handling) and by geography (Western Europe and Eastern Europe).
The e-commerce and 3PL segment held the largest conveyor systems market share in 2018, accounting for nearly 31% of the share. This end-user segment is expected to dominate the global market throughout the forecast period.
The Western Europe region led the market in 2018 with around 65% of the market share. The key leading countries contributing to the growth of the conveyor systems market are Germany, France, the UK, and Ukraine.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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