New York, July 28, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Conveyor Systems Industry” – https://www.reportlinker.com/p05956464/?utm_source=GNW
8 Billion in the year 2020, is projected to reach a revised size of US$10.3 Billion by 2027, growing at a CAGR of 4.2% over the analysis period 2020-2027.Warehouse & Distribution, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach US$3.3 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Food & Beverage segment is readjusted to a revised 4.3% CAGR for the next 7-year period. This segment currently accounts for a 27.8% share of the global Conveyor Systems market.
The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 6.8% CAGR for the Period of 2020-2027
The Conveyor Systems market in the U.S. is estimated at US$2.1 Billion in the year 2020. The country currently accounts for a 27.02% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2.1 Billion in the year 2027 trailing a CAGR of 6.7% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 3.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR while Rest of…
