Overhead Conveyor Market: Global Market growth with CAGR 5.22%

The Global Overhead Conveyor Market size was valued at US $2.14 Billion in 2022 and is expected to grow at a CAGR of 5.22% from 2023 to 2029, reaching nearly US $3.06 Billion.

The Overhead Conveyor is the equipment used to bulk load at a time from one location to another either manually or power driven. Overhead Conveyor Market has observed immense need of equipment from the different industries, retail, food and beverages, automotive, logistics and manufacturing, for the process automation. Conveyors are also customized to meet the industry demand.
Overhead Conveyor Market Research Methodology
Both primary and secondary research have been used to conduct market surveys, assessments, and projections. Analyzing the problem in order to set the parameters for the research study is the initial phase in the research process. The research technique has been developed with enough adaptability to accommodate the constantly changing nature of products and markets while preserving key components to guarantee the reliability and accuracy of research findings. Macroeconomic and microeconomic issues have been thoroughly analyzed in order to evaluate and forecast various market categories. Data was gathered from a variety of secondary sources, including annual reports, investor presentations, SEC filings, and other business periodicals. Trade magazines, technical journals, paid databases like Factiva and Bloomberg, industry trade journals, scientific journals, and social media data have all been made available to better understand market dynamics and industry trends. Primary research has also been done to understand the market's drivers, restraints, opportunities, challenges, and competitive environment in order to generate the study.To know about the Research Methodology :- Request Free Sample Report
Overhead Conveyor Market Dynamics
The Overhead Conveyor industry has observed enormous growth in recent years. The market growth is rising with increased use of automated manufacturing technologies and high productivity. Additionally, factors like systems with high productivity, flexibility throughout the manufacturing plant process, return on investments, and rising use of automated manufacturing anticipates to have a positive impact on the market's performance in the upcoming years.

Maximize analysis that the market development is fueled by improvements in automation and Internet of Things (IoT) technology. Growing consumer demand for greater energy efficiency and reduced operating costs have an impact on market expansion. However, these conveyer systems' high initial and ongoing expenses serve as substantial market growth inhibitors. But throughout the review period, rising economic growth would encourage market expansion. The Overhead Conveyor industry confronts challenges from competitor equipment, expensive installation and maintenance costs, labor shortages, safety and regulatory concerns, and lack of customization options which is a threat for new entrants.

In the emerging markets, the Overhead Conveyor Market offers opportunity into new markets, customization, integration with Industry 4.0 technologies, sustainability, and chances for partnerships and collaboration. Market trends for the Overhead Conveyor Market is adoption of Industry 4.0 technologies, energy-efficient solutions, customized solution, safety and compliance with regulations and integration in automation. Further analysis on whether the market is attractive for investment and new entrants is captured in the full report.
Overhead Conveyor Market Segment Analysis
Overhead Conveyor Market segmentation is done on the basis of type, on the basis of Automation grade, on the basis of Sales channel, on the basis of Capacity, on the basis of Weight, on the basis of Technology, on the basis of Application, on the basis of Geography. Further details of it is cited in scope table below.

Based on Type, the Overhead Conveyor Market is segmented as I-Beam trolley conveyors and Enclosed Track conveyors. I-Beam trolley conveyors are in high demand than enclosed track conveyors.

Based on Automation Grade, the Overhead Conveyor Market is segmented as manual, semi-automatic, and automatic overhead conveyor. Automatic overhead conveyor system is leading in the market.

Based on Sales Channel, the market is segmented as direct sales and main contractor sales. Sales through main contractor is more than direct sales.Based on Capacity, the Overhead Conveyor Market is segmented as up to 1000 items/h, 1000-10000 items/h, and more than 10000 items/h.

Based on Weight of the system, the Overhead Conveyor Market is segmented as 0-3 kg, 3-5 kg, 5-10 kg, 10-20 kg, 20-50 kg. These system installations on basis of weight depends on the usage in the industry.
Based on Technology, the Overhead Conveyor Market is segmented as Pouch Sorter and Power & Free system. Power & Free system is leading the market than pouch sorter.

Based on Application, the Overhead Conveyor Market is segmented as E-Commerce, Logistics, and Commercial. Logistics is leading the market followed by e-commerce and then commercial.

Based on the region, the Overhead Conveyor Market is studied in 5 regions, North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Overhead Conveyor Market Regional Insights
Maximize has analyzed 5 major regions where there is opportunity in market - Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa. European economy is leading the current Overhead Conveyor Market with sales majorly in Food & Beverages, manufacturing, plastic and retail industries. Higher market sales growth is in view of smart manufacturing methods and SCADA based automation processes. North America is another worthwhile market for Overhead Conveyor systems and driver for it is the automation processes, advanced conveyor systems and use of Internet of Things (IoT) across industrial sectors.

Overhead Conveyor Market sales are expected to grow at the swift rate in the Asia-Pacific economy in the forecasted period from 2023-2029. The growth of regional businesses and the demand for effective material handling system products are factors that have contributed to market growth.
Overhead Conveyor Market Scope: Inquire before buying



Overhead Conveyor Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.14 Bn.


Forecast Period 2023 to 2029 CAGR:
5.22%
Market Size in 2029:
US $ 3.06 Bn.


 Segments Covered:
by Type
I-Beam Trolley Conveyors
Enclosed Track Conveyors


by Automation Grade
Manual
Semi-Automatic
Automatic


by Sales Channel
Direct
Main Contractors


by Capacity
Up to 1000 items/h
1000-10,000 items/h
>10,000 items/h


by Weight
0-3 kg
3-5 kg
5-10 kg
10-20 kg
20-50 kg


by Technology
Pouch Sorter
Power & Free System


by Application
E-Commerce/Retail
Logistics
Commercial



Overhead Conveyor Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key players in the Global Overhead Conveyor Market
1. Daifuku
2. Dematic
3. SSI Schaefer
4. Dürr Group
5. Sanfeng Zhineng
6. Fives Group
7. Tianqi Automation
8. Sunrise
9. Zhejiang INA
10.AFT-Group
11.CALDAN Conveyor
12.OMH Science
13.KNAPP
14.Railtechniek
15.Psb Intralogistics
16.Niko
17.Pacline Overhead Conveyors
18.SchÃnenberger System
19.OCS (Axel Johnson)
20.Richards-Wilcox Conveyor
21.Kardex Remstar
22.Rapid Industries
23.FlexLink
24.Caterpillar
25.Ultimation Industries

FAQs

1) What is the estimated value of the Global Overhead Conveyor Market in 2022?
Ans. The Global market was estimated to be valued at $2.14 Bn in 2022.

2) What is the growth rate of the Global Overhead Conveyor Market?
Ans. The growth rate of the Global market is 5.22% CAGR, with a forecasted value of $3.06 Bn by 2029.

3) Which region has the highest growing potential across the globe?
Ans. Asia Pacific region is showing the highest growth rate among all regions.

4) How many market segments are there based on application?
Ans. There are 3 market segments based on application – E-Commerce / Retail, Logistics, Production Processes.

5) What are the types of technology cited in report?
Ans. In this report, there are 2 main types of technology based on cited – Pouch Sorter, Power & Free system.