The global vibrating conveyors market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190605005598/en/
Technavio has published a new market research report on the global vibrating conveyors market from 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the global vibrating conveyors market size is the population growth resulting in augmented demand for commodities. The global population explosion has resulted in a significant increase in the demand for commodities such as medicines and food products. Moreover, steady economic growth at a global is also driving consumer spending, thereby, increasing consumption of commodities produced by various industries. As a result, there is a boom in several industries such as cement, pharmaceutical, food and beverage, and mineral processing industries. As these industries extensively use vibrating conveyors, the growth of these industries will fuel the market growth during the forecast period.
As per Technavio, the technological advances in digitalized conveyor systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global vibrating conveyors market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Vibrating conveyors market: Technological advances in digitalized conveyor systems
The constant technological developments in the field of automation have transformed the applications of conveyor systems. The introduction of technologies such as warehouse management systems (WMSs) and manufacturing execution systems (MESs) has replaced the traditional isolated setup with a connected one. Moreover, the implementation of IoT principles is also helping in troubleshooting conveyor systems. Thus, the integration of such advanced technologies in commercial vibrating conveyor systems is expected to support the vibrating conveyor market growth during the forecast period.
“Apart from the technological advances in digitalized conveyor systems, factors such as the increasing use of electrical drives, and the emergence of power-efficient conveyors with auxiliary power generation capability will have a significant impact the growth of the vibrating conveyors market size during the forecast period,” says a senior analyst at Technavio.
Global Vibrating conveyors market: Segmentation analysis
This market research report segments the global vibrating conveyors market by end-user (pharmaceuticals, mineral processing, chemical, food and beverage, and others) and geographic regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the vibrating conveyors market in 2018, followed by Europe, North America, South America, and MEA respectively. Currently APAC is a major manufacturing hub for a majority of industries including the key end-users of vibrating conveyors such as the pharmaceutical industry. The rapid growth in the demand for pharmaceuticals has resulted in pharmaceutical companies expanding their operations in the region through the installation of additional manufacturing capacity in strategic market locations such as China, India, and Australia. This factor, along with the favorable government policies and the creation of public-private partnerships (PPPs) for jointly undertaking intensive R&D projects are fueling the growth of the pharmaceutical industry in the region. Similar trends of investment are being observed in other industries such as the chemical and mineral processing industries. This is expected to further support the growth of the vibrating conveyors market in APAC.
Looking for more information on this market? Request a free sample report
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:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.
Copyright Business Wire 2019