Smart Sensor Integration and Advanced Communication Improve Efficiency in Automated Conveyor Systems. FMI Pinpoints Key Opportunities for ASEAN Market Growth. Global conveyor systems market is expected to drive technological advancements during the forecast period. Reduction in operational costs and production cycle time for material handling has decreased the arising possibilities of errors. Usage of customized conveying equipment has risen as the manufacturers have increased their potentiality of Research and Development.

NEWARK, DE / ACCESSWIRE / November 28, 2024 / The ASEAN conveyor system market is poised for significant growth, fueled by increasing adoption in the automotive, logistics, and manufacturing sectors. The market, valued at USD 2,116.4 million in 2024, is projected to reach USD 4,202.4 million by 2034, with a robust CAGR of 7.1% during the forecast period.

As industries in the ASEAN region embrace automation to enhance efficiency and reduce operational costs, conveyor systems are emerging as critical enablers in streamlining processes. In the automotive sector, for instance, conveyor systems facilitate seamless movement of components along the assembly line, improving productivity while cutting labor costs.

With ASEAN emerging as a global manufacturing hub, the demand for advanced conveyor solutions is accelerating. Additionally, the expansion of warehouse and logistics facilities to cater to rising e-commerce and retail demands is further boosting the market.

Key players in the conveyor system market, including Daifuku Co. Ltd., Murata Machinery, and SSI Schaefer AG, are investing in cutting-edge technologies to enhance system efficiency, reduce downtime, and meet the specific needs of end-users.

Conveyor system suppliers serve different industry segments that include automotive, food & beverage, etc. Boost in demand for industry verticals in the sector of automation is considered one of the main drivers for the conveyor systems market. Rise in the adoption of assembly line approach and mass production, which is led by growth in the manufacturing of motor vehicles, is expected to provide its contribution to market growth. Fall in capital investments due to trade deficits, and interdependence on the volatile durable goods market has resulted as a challenge on market growth

Key Market Insights

Rapid Industrialization Driving Conveyor System Demand in ASEAN

Rapid industrialization across ASEAN countries has bolstered demand for conveyor systems, particularly in manufacturing and automotive sectors. These systems enhance operational efficiency by automating material handling, reducing production bottlenecks, and minimizing errors.

The ongoing drive for industrial automation across sectors, such as food and beverage, pharmaceuticals, and electronics, has further strengthened the adoption of conveyor solutions in the region.

Expanding Warehouse and Logistics Facilities to Propel Market Growth

The rise of e-commerce and retail sectors in ASEAN has led to an exponential growth in warehouse and logistics facilities. Conveyor systems play a vital role in optimizing the movement of goods within warehouses, reducing turnaround times, and improving order accuracy.

Investments in state-of-the-art logistics infrastructure by companies such as Amazon and Lazada are expected to significantly boost the conveyor system market in ASEAN over the next decade.

ASEAN as a Manufacturing Hub Boosting Demand for Conveyor Systems

ASEAN's prominence as a manufacturing hub has been a key driver for conveyor system adoption. Countries like Indonesia, Thailand, and Vietnam are witnessing substantial investments in industrial facilities, further supporting market growth.
The availability of a skilled workforce and government incentives for manufacturing expansion are fostering a conducive environment for conveyor system deployment in the region.

Key Takeaways

• North America: Focus on automation in industries driving growth.

• Latin America: Expansion of manufacturing sectors boosting demand.

• Western Europe: Strong focus on sustainability and energy-efficient systems.

• Eastern Europe: Adoption fueled by industrial modernization.

• East Asia: Advanced manufacturing practices creating opportunities.

• South Asia Pacific: ASEAN leading the growth trajectory in APAC.

• Middle East and Africa: Infrastructure development stimulating market growth.

"ASEAN's conveyor system market is witnessing remarkable growth, propelled by the automotive and logistics sectors. As companies prioritize automation and operational efficiency, the demand for technologically advanced conveyor solutions is set to soar. Players investing in innovation and region-specific customizations will gain a competitive edge." opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI)

What are the Prominent Drivers of Conveyor System Market?

Impact of Circular Economy on Conveyor System Market is one of the Major Driver

Stringent government regulations and initiatives adopted by industries towards reducing carbon footprint have encouraged manufacturers to move towards circular economy.

Conveyor systems consume tremendous energy especially systems that use old electric motors. Market players are working towards developing efficient products to reduce the energy costs and in turn limit the carbon emission.

Leading market players are collaborating to develop optimized machine drives, cooling systems along with replacing the conveyor belt material with lighter and more durable alternative to become more energy-efficient, for instance, DuPont collaborated with Regina and developed new environmentally friendly Regina E-F.A.S.T. material for high speed conveyor system DuPont™ Delrin® for filling lines.

Rise in Number of Industry 4.0 Techniques is Also Raising the Market

Increasing numbers of industries are incorporating Industry 4.0 techniques to upgrade their existing conveyor systems as they are integrating machine learning and industrial internet of things with existing infrastructure to optimize their production and improve efficiency.

Changing preference of consumers and need to create agile environment to cater to these trends will positively influence the market in upcoming years. Industries are looking for compact, low maintenance, and smart conveyor system for their processing and manufacturing plants. Rising industrialization in developing countries and extensive research undertaken by market players to develop a multi-utility and flexible conveyor system, will drive the conveyor system market in upcoming years.

Integration of smart sensors and advanced communication systems with automated conveyor system and development of smarter motors and controllers for easier and quieter operations will accelerate the market growth in upcoming years.

Maintenance Challenges and Operational Disruptions in Conveyor Systems

Despite their advantages, conveyor systems face challenges such as maintenance complexities and operational disruptions due to wear and tear. Manufacturers are addressing these issues by developing durable components and offering predictive maintenance solutions to minimize downtime.

Key Players in the ASEAN Conveyor System Market

• Daifuku Co. Ltd. - Leading global supplier of conveyor systems.

• Murata Machinery - Innovator in material handling solutions.

• SSI Schaefer AG - Specialist in storage and logistics systems.

• KUKA AG (Swisslog AG) - Pioneer in automation and robotics.

• BEUMER Group - Expert in intralogistics solutions.

• KNAPP AG - Leader in intelligent automation.

• Honeywell Intelligrated Inc. - Provider of advanced conveyor systems.

• Kardex Group - Innovator in automated storage solutions.

• Flexlink Systems - Supplier of modular conveyor systems.

• Interroll Holding AG - Renowned for scalable solutions.

• Godrej Consoveyo Logistics Automation Ltd. - Key player in ASEAN logistics solutions.

• PT. Rollent Indonesia - Prominent regional conveyor manufacturer.

Growing Automotive Industry in ASEAN Driving Demand for Conveyor Systems

The automotive sector continues to dominate the ASEAN conveyor system market, leveraging these systems for streamlined assembly-line operations. Conveyor systems enable manufacturers to meet high production targets and deliver consistent quality, providing a competitive edge in a dynamic industry.

As ASEAN strengthens its position as a key automotive hub, driven by domestic and international investments, conveyor system adoption is expected to grow exponentially.

Browse Full Report Here
https://www.futuremarketinsights.com/reports/asean-conveyor-system-market

Regional Analysis

• North America & Latin America: Adoption driven by automation and manufacturing growth.

• Western & Eastern Europe: Industrial automation and modernization fueling demand.

• East Asia & South Asia Pacific: ASEAN leads as a high-growth region for conveyor systems.

• Middle East & Africa: Expanding industrial sectors supporting market growth.

The ASEAN conveyor system market stands at the cusp of transformational growth, driven by rapid industrialization, technological advancements, and expanding manufacturing and logistics operations. As businesses across the region strive for efficiency and competitiveness, conveyor systems are set to play an indispensable role in the industrial ecosystem.

Report Coverage & Deliverables

The latest report on the ASEAN conveyor system market provides an in-depth analysis of industry trends, market drivers, challenges, and growth opportunities. The study covers:

• Market segmentation by product type, end-use industries, and region.

• Key market players and competitive landscape.

• Regional growth prospects and investment opportunities.

• Emerging trends in conveyor system technologies.

The report also offers detailed insights into the projected market size from 2024 to 2034, highlighting the role of automation and industrialization in shaping the ASEAN market landscape.

Key Segments of Conveyor Systems Industry

By Type:

In terms of Type, the industry is divided into Belt Conveyor, (PVC Belt Plastic, Modular Bel, Other Types of Belt), Roller Conveyor, (Chain Driven, Ploy-v Belt Driven, Other Type of Drive), Pallet Conveyor, (Chain Type, Roller Type), Lifting Equipment and Others.

By Industry:

In terms of Industry, the industry is divided into Intra-Logistic/Warehousing, Tire Industry, Battery Industry, Furniture Industry, Automotive Industry, Mining and Construction, Chemical Industry, Food and Beverage, Agriculture, Others

By Region:

Key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, Middle East and Africa (MEA), have been covered in the report.

Author By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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