Global Conveying Equipment Market by Product (Bulk Handling, Unit Handling, Parts & Attachments), by Application (Durable Goods Manufacturing & Nondurable Goods Manufacturing) Expected to Reach Usd 36.42 Billion by 2020: Grand View Research, Inc

The global conveying equipment market is expected to reach USD 36.42 billion by 2020, according to a new study by Grand View Research Inc. Increasing approach towards mass production and assembly line methodology across various industries including sea ports and food & beverages are expected to remain a key driving factor for the global market over the next six years. In addition, development in construction sector coupled with increasing market growth of motor vehicle manufacturing in Asia Pacific and Europe is expected to further augment the market growth over the forecast period. However, volatile prices of key raw materials such as synthetic rubber and metals are expected to hinder the market growth over the forecast period.

The report “Conveying Equipment Market by Product (Bulk Handling, Unit Handling, Parts and Attachments), By Application (Durable, Non-Durable Goods) And Segment Forecasts To 2020,” is available now toGrand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/conveying-equipment-market

Further key findings from the study suggest:

• Unit handling conveying equipment market emerged as the leading product segment and accounted for 45.7% of total market revenue in 2013. However, parts and attachment is expected to be fastest growing product segment at an estimated CAGR of 2.4% from 2014 to 2020.

• Durable goods manufacturing emerged as one of the leading application segment for conveying equipment and accounted for 39.3% of total market revenue in 2013. Global demand for conveying equipment in durable goods manufacturing is expected to be primarily driven by growth in demand for computer equipment and industrial machinery. Global demand for conveying equipment from nondurable goods manufacturing is expected to grow at an estimated CAGR of 1.1% from 2014 to 2020.

• Europe dominated the global market and accounted for 35.6% of total market revenue in 2013. Presence of top tier...