Precision Link Conveyors Market Size, Share, Growth, and Industry Analysis, By Type (CAMCO Precision Link Conveyors, Modular Table Top Precision Link, Heavy-Duty Precision Link), By Application (Electronic Industry, Automobile Industry, Consumer goods, and Other) and Regional Forecast to 2027

Updated On: 22 April 2024

precision link conveyors market REPORT OVERVIEW

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The global precision link conveyors market size was USD 55.81 million in 2021 and is expected to reach USD 105.22 million by 2027, exhibiting a CAGR of 11.15% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, precision link conveyors experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A mechanical handling device for quickly and effectively moving loads and materials automatically around a space is a precision link conveyor. Among other advantages, this technology minimizes errors made by humans, lowers workplace risks, and lowers labor expenses.

The need for industrial automation has grown as a result of the manufacturing sector's increasing requirement to handle vast quantities of resources and goods efficiently.  Every industrial step has a conveyor system, which is a crucial component of the product handling process.  The expansion of the industrial sector, industry expansion, industry modernization, and conditions unique to particular products and processes all have an impact on the conveyor system market.

COVID-19 Impact: Slowdown in Critical Commercial Activities to Deplete Market Share

Critical commercial activities have slowed down as a result of the COVID-19 outbreak in many different countries. Future investments in a number of industries, including manufacturing, construction, agriculture, etc., are expected to suffer as a result of the potential for an impending economic recession. Additionally, the start of this particular pandemic has had a detrimental impact on numerous supply chains all across the world.

A significant gap amongst precision link conveyors marketplace supply and demand has been established as large economies impose precautionary lockdowns, making it more challenging for producers and distributors to efficiently manage their individual businesses. This is a key element that had an impact on precision link conveyors market share. However, this market will probably stay the same as the restrictions are progressively lifted and economies start to recover.

LATEST TRENDS

"Environment Friendly Options to Stimulate Market Development  "

Reduced energy use, fewer components utilized by conveyors, and a focus on the systems' good effects on people such as reduced noise and improved worker safety are the three pillars of the green conveyor idea.  Green conveyors cut carbon emissions, helping businesses cut costs and combat the pressing issue of global warming.

Conveyor controls include sleep mode, which turns off the motors to conserve energy while the belt is not in use, and adjustable speed controls can greatly aid in making existing conveyor systems more environmentally friendly.   As a result, conveyor systems that use high efficiency motors consume much less electricity, making them environmentally friendly conveying options.

precision link conveyors market SEGMENTATION

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• By Type

Based on type; the market is divided into max 10x, max 50x, above 50x

Max 10x is the leading part of the type segment.

• By Application

Based on the application; the market is divided into medical center, research center, others

Medical center is the leading part of the application segment.

DRIVING FACTORS

"Rise of the Mining Sector to Aid Market Expansion  "

The rise of the mining sector throughout the world is a result of the ongoing demand for rare earth metals and minerals.  The need for better mining operations, such as drilling, crushing, and pulverizing, has motivated manufacturers of mining equipment to produce cutting-edge machinery.  The main factors driving the precision link conveyors market growth expansion are an increase in mining operations, advantageous mining circumstances in emerging nations, and an increase in resource exploration activities.

"Medical Applications to Foster Industry Progress "

Even while modern conveyor systems are more silent and quiet than ever before, they still occupy too much room. The infrastructure of most warehouses must be changed in order to make the large area needed for the majority of precision link conveyors.

Conveyors are set in place, which might be a problem if you need to change the layout of your warehouse to suit a demand growth. They might be problematic when implementing new picking techniques because the pickers must stay with the conveyor in order to maintain up with the constant movement of goods.

RESTRAINING FACTOR

"Lack of Information to Stop Market Evolution "

Precision link conveyors are the result of a variety of technologies combined to streamline and improve the logistical process.  It represents a mechanical component that, if neglected, is vulnerable to damage, wear, overload, and mistakes.  Periodically, it has to have systemic maintenance and repairs performed by a qualified personnel. 

Due to the fact that most businesses have many manufacturing sites, there aren't as many maintenance or repair facilities as there should be. This presents a challenge for the global market.  Lack of resources, ignorance, and the expense of employee training may prevent small and medium-sized firms from using conveyor systems.

precision link conveyors market REGIONAL INSIGHTS

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"Asia Pacific to Support Market Advancement owing to Affordability of the Raw Products"

Due to the availability of less expensive manufacturing inputs (labor, raw materials, and equipment) in the Asia Pacific area, particularly in emerging nations including India and China, many multinational firms from wealthy nations across the world have established their production facilities there. Conveyor system use in this area has expanded as a result of the expansion of manufacturing operations.

In addition, factors including rising GDP, rising standards of living, and more spending power are driving up consumer interest in manufactured goods, which is driving up implementation of the aforementioned precision link conveyors. For instance, the majority of the low-speed precision link conveyors used in Indian industrial facilities at first. The use of fast speed link conveyors was a result of the growing number of these facilities, which was propelled by rising consumer demand for commodities.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Cyclo-Index (U.S.)
• DESTACO (U.S.)
• Arthur G. Russell (U.S.)
• Camfield Engineers (India)
• Stelron Components (U.S.)
• Motion Index Drivers (U.S.)
• SANKYO (Japan)
• Cam Driven Systems (CDS) (Italy)
• Interfaced Technologies Inc (U.S.)
• QC Industries (U.S.)
• Bettinelli (Italy)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.