The conveyor system market in the MEA is expected to grow from US$ 486. 88 million in 2019 to US$ 634. 55 million by 2027; it is estimated to grow at a CAGR of 3. 5% from 2020 to 2027. Rising digitization across the MEA has resulted in increased efficiency of existing machines together with increased safety.
New York, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East and Africa Conveyor System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by System Type, Belt Type, and Industry" - https://www.reportlinker.com/p06004182/?utm_source=GNW
It is anticipated to surge the demand for advanced conveyor systems.
Manufacturers have implemented automation and analytics to enhance their products & services and enrich customer experience.The concept of digital equipment has transformed manufacturers from suppliers with ’hardware only’ to suppliers with ’hardware, software, and services,’ which has led to the introduction of new business models.
Conveyor systems manufacturers use new models to build a loyal customer base and generate a steady stream of revenues.The supply chain industry across the MEA has been undergoing a constant transformation and considerably impacting the fundamentals of warehousing and distribution.
These transformations are related to growing technologies that fill the gap between supply chain operations and customers. Rising technologies, such as digital twins and IT platforms, are finding their way into conveyor systems, enhancing the value chain, and thereby working efficiently and cost effectively. Also, industry 4.0 is useful for manufacturing industry, which is expected to positively influence the demand for conveyor systems.
In terms of industry, the logistics segment led the MEA conveyor system market in 2019.In the logistics industry, the automation is replacing traditional logistics processes as it optimizes the overall efficiency of the industry by simplifying and automating the whole process and involving various tasks, such as processing freight operations, and tracking.
The most common advantages of implementing automation solutions in the industry are reduced human errors, enhanced customer services, and improved scalability.Automation has become a significant part of the supply chain process for small and large businesses.
The growing need for centralized distribution centers and e-fulfillment centers forced market players to seek different ways to maximize output by enhancing accuracy with the help of high-speed conveyor systems.The growth in the e-commerce sector has attracted several e-commerce giants.
The escalating e-commerce operations are fueling the growth of warehouse facilities with the installation of automated conveyor systems in the factories, which is driving the adoption of the conveyor systems in the logistics industry.
The MEA is severely affected by the COVID-19 pandemic.Among the MEA countries, South Africa has recorded the highest COVID-19 cases.
Other significant countries facing the economic impact of COVID-19 include Iran, Turkey, Saudi Arabia, Israel, Morocco, the UAE, Qatar, Kuwait, Oman, and Egypt.The region comprises many growing economies, such as the UAE and Saudi Arabia, which are prospective markets for conveyor system providers, owing to the huge presence of diverse customer base for the food & beverages and retail and e-commerce sectors.
The market in the region is already facing a decline as there is pressure on the economy of various oil-based countries due to falling oil prices.In addition to this, the factory lockdowns, business shutdowns, and travel bans are further aggravating the economic problems of the countries in the MEA.
Hence, the estimated decline in the region’s economic condition and impact of COVID-19 on the growth of various industries in the region are expected to negatively impact the development of the conveyor system market in 2020 and 2021.
The overall MEA conveyor system market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the MEA conveyor system market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the MEA conveyor system market. DEMATIC; Emerson Electric Co.; Interroll Holding, GmbH; Siemens AG; SSI Schäfer; and Swisslog are among a few players operating in the MEA conveyor system market.
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