Conveying Equipment Market Expands Through Smart Conveyor Solutions

The global conveying equipment market was valued at USD 54.88 billion in 2023 and is expected to grow to USD 71.57 billion by 2030, representing a compound annual growth rate (CAGR) of 3.9% between 2024 and 2030. Growing reliance on automated systems that reduce production time and boost efficiency is projected to positively influence the overall conveying equipment market.

Key Market Trends & Insights

In 2023, the Asia Pacific region accounted for 46.9% of global market revenue, with China alone accounting for over 35% of that region’s share. The belt‐type segment held the largest portion across types at 24.0% in 2023. On the application side, warehouse & distribution led the market for that year, and among products, the unit-handling segment was dominant. Conveying equipment plays a critical role in industries such as mining and coal, food & beverage, automotive, airports and ports by transporting goods continuously in industrial and commercial settings. In the U.S., a major market driver is its advanced technology industries, skilled labour, and strong manufacturing and distribution sectors boosting demand from warehouse & distribution, automotive and food & beverage end-users. The trend toward automation in manufacturing—aimed at mass production and lower capital expenditure—is creating favourable conditions, especially in emerging economies with rising infrastructure expenditure. At the global level, conveyor systems are essential to multiple manufacturing and distribution channels, and the shift toward smart conveying equipment aligns with Industry 4.0 initiatives. A growing e-commerce sector, changing distribution channels from seller to consumer, and expansion in food & beverage production are all expected to create new opportunities in the conveying equipment market.

Market Size & Forecast

The market size for 2023 stands at USD 54.88 billion, with the 2030 estimate reaching USD 71.57 billion and a CAGR of 3.9% from 2024 to 2030. Asia Pacific remains the largest region in 2023. The role of conveying equipment in goods transportation across a range of industries catalyses this growth. The U.S. market is supported by its manufacturing and distribution infrastructure. The increasing automation in manufacturing, the surge in infrastructure investment in emerging markets, and the smart-technology adoption in conveyor systems are key growth drivers.

Order a free sample PDF of the Conveying Equipment Market Intelligence Study, published by Grand View Research.

Key Companies & Market Share Insight

The conveying equipment market shows moderate consolidation: a few major players dominate while numerous smaller firms operate niche segments. Competition is intense, as manufacturers adopt cost-efficient technologies and innovation accelerates. For instance, in April 2023 one major player introduced a fully automated mixed-pallet-picking system for food and grocery applications. Global firms are also pursuing acquisitions—such as a 2022 acquisition in which a major German company took full control of a Magdeburg-based supplier of conveyor systems—to expand their portfolios and service offerings.

Key Companies List

Leading companies in the conveying equipment market include:

  • Daifuku Co., Ltd.
  • BEUMER GROUP
  • Fives Group
  • FlexLink
  • Jungheinrich AG
  • Kardex
  • Kion Group AG
  • KUKA AG
  • Murata Machinery, Ltd.
  • Phoenix Conveyor Belt Systems
  • Siemens
  • TGW Logistics Group
  • Continental AG
  • Emerson Electric Co.

Conclusion

Overall, the conveying equipment market is set for steady growth through 2030, underpinned by rising automation, expanding warehouse and distribution networks, and increasing e-commerce penetration. With Asia Pacific as the dominant region and belt conveyors leading by type, the industry’s trajectory is clear: innovation, customised solutions and regional manufacturing expansion will define competitive advantage in this evolving market.

Explore Horizon Databook – The world’s most expansive market intelligence platform developed by Grand View Research.

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