The outbreak first began in Wuhan (China) during December 2019, and since then, it has spread across the globe. As per the WHO, as of November 3, 2020, there were around 46,840,783 confirmed COVID-19 cases globally, including 1,204,028 deaths, and the number is growing at varying rates in different countries. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in 2020 and it is likely to continue in 2021 as well. The outbreak has created significant disruptions in primary industries, such as logistics, retail, and e-commerce. The sharp decline in the international logistics business industry is negatively impacting the growth of the global Conveyor System Market. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat the outbreak have adversely affected the logistics industry.
Geographically, Asia Pacific held the largest share of the Conveyor System Market in 2019, followed by North America and Europe. Further, Asia Pacific is projected to witness the highest growth rate during the forecast period. The Conveyor System Market is segmented into system type, belt type, industry, and geography. Based on system type, the market is further categorized into overhead, floor, roller, belt, and others. The belt segment represented the largest share of the overall market during the forecast period. Based on belt type, the market is further segmented into light, medium, and heavy. In 2019, the medium segment accounted for a substantial share in the global Conveyor System Market. Based on industry, the market is segmented into food & beverage, automotive, airports, logistics, metals & mining, and others. The others segment represented the largest share of the overall market during the forecast period.
Impact of COVID-19 Pandemic on Conveyor System Market
According to the latest situation report from the World Health Organization (WHO), the US, India, Brazil, Russia, France, Spain, Argentina, the UK, Italy, and China are among the worst affected countries due to the COVID-19 outbreak. The outbreak first began in Wuhan (China) during December 2019, and since then, it has spread across the globe. As per the WHO, as of November 3, 2020, there were around 46,840,783 confirmed COVID-19 cases globally, including 1,204,028 deaths, and the number is growing at varying rates in different countries. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to take the worst hit in 2020 and it is likely to continue in 2021 as well. The outbreak has created significant disruptions in primary industries, such as logistics, retail, and e-commerce. The sharp decline in the international logistics business industry is negatively impacting the growth of the global Conveyor System Market. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat the outbreak have adversely affected the logistics industry.
Daifuku Co., Ltd.; Dematic; Emerson Electric Co.; Honeywell Intelligrated; Interroll Holding GmbH; Siemens AG; SSI Schafer; Swisslog Holding AG; TGW Logistics Group; and Vanderlande Industries B.V. are among major companies operating in the Conveyor System Market.
The report segments the global Conveyor System Market as follows:
By System Type
- Overhead
- Floor
- Roller
- Belt
- Others
By Belt Type
- Light
- Medium
- Heavy
By Industry
- Food & Beverage
- Automotive
- Airports
- Logistics
- Metals & Mining
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of SAM
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