Overhead Conveyor Systems Market

The growth of the overhead conveyor systems market is driven by various factors such as the rising adoption of automated systems in manufacturing and high productivity and system efficiency of overhead conveyor systems. However, the growth of the market is expected to be hindered due to the high initial and maintenance costs.

The global overhead conveyor systems market is expected to grow at about 5.18% CAGR during the forecast and reach USD 812.2 million by 2025. In 2018, the market was led by Europe, with a 35.45% share, followed by Asia-Pacific and North America with shares of 31.01% and 25.00%, respectively.

The overhead conveyor systems market has been segmented based on function, technology, weight, capacity, sales channel, automation grade, application, and region. On the basis of function, the buffering/ storage segment dominated the market with a share of 36.42%, having accounted for USD 209.3 million in 2018; it is projected to grow at a CAGR of 5.83% during the forecast period. On the basis of technology, the power and free segment dominated the market with a share of 63.90%, having accounted for USD 367.2 million in 2018; it is projected to grow at a CAGR of 4.13% during the forecast period. On the basis of weight, the 10-20 kg segment dominated the market with a share of 34.66%, having accounted for USD 199.2 million in 2018; it is projected to grow at a CAGR of 4.37% during the forecast period. On the basis of capacity, the 1,000–10,000 segment dominated the market with a share of 56.59%, having accounted for USD 325.2 million in 2018; it is projected to grow at a CAGR of 5.13% during the forecast period.

On the basis of sales channel, the via main contractor segment dominated the market with a share of 65.72%, having accounted for USD 377.6 million in 2018; it is projected to grow at the highest CAGR of 5.89% during the forecast period. On the basis of automation grade, the automatic segment dominated the market with a share of 43.87%, having accounted for USD 252.1 million in 2018; it is projected to grow at the highest CAGR of 5.78% during the forecast period. On the basis of application, the E-commerce/ Retail segment dominated the market with a share of 52.97%, having accounted for USD 304.4 million in 2018; it is projected to grow at a CAGR of 4.68% during the forecast period.