Myanmar Conveyor Systems Market to Witness Significant Growth until 2025
Growing demand for handling larger volumes of goods in
manufacturing and warehousing industries to drive the growth of Myanmar
conveyor systems market
According to
TechSci Research report, “Myanmar Conveyor Systems Market By Type (Belt, Roller, Overhead, Floor, Pallet,
Crescent, Cable, Bucket), By Location (In-Floor Conveyors v/s On-Floor
Conveyors & Overhead), By Load (Unit Load v/s Bulk Load), By Operation
(Semi-automatic v/s Automatic), By End User Industry (Warehouse &
Distribution, Food & Beverage, Automotive, Electronics, Mining, Airport,
Others), By Region, Forecast & Opportunities, 2025”, the Myanmar conveyor systems market is expected to grow at
a formidable rate during the forecast period on account of rising material
safety concerns. One of the major drivers for this market is the growth of e-commerce
industry, which in turn is resulting in surging demand for warehouses and
fulfillment centers, thereby driving the market growth in the country. Additionally,
for improving the production efficiency, major players are moving towards the adoption
of conveyor systems. Furthermore, the development of cost-effective as well as environment
friendly conveyor systems is estimated to create lucrative market opportunities
during forecast period. However, high cost of installation, maintenance and raw
materials such as steel can hamper the growth of market. Along with that, the
conveyor systems are relatively complicated in design because of their large
scale application and integration in various factory processes, which might restrain
the growth of Myanmar conveyor systems market during the next 5 years.
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The Myanmar conveyor systems market
is segmented based on type, location, load, operation, end user industry,
company and region. Based on end user industry, the market can be categorized
into warehouse & distribution, food & beverage, automotive,
electronics, mining, airport and others. The warehouse & distribution segment
is expected to witness highest growth during forecast period on account of increase
in online retail sales due to growing demand for e-commerce industry. Furthermore,
growth of market in this sector can be also be ascribed to the rise in
purchasing power, growing working class population, lifestyle changes and
relaxation in government regulations such as foreign direct investment. These
factors have boosted the growth of supermarket/hypermarket chains as well as distribution
centres, therefore, fueling the demand for new warehouses in the country. Based
on load, the market can be categorized into unit load and bulk load. The bulk
load segment is expected to witness significant growth over the next few years,
since it can carry heavy and bulk material and improves the production
efficiency.
Emerson Myanmar Ltd., Gurukrupa
Wirenetting Industries, Eternal Co., Ltd (Dongil Rubber Belt), General
Machinery Trading Co., Ltd, Siemens Myanmar, Continental Conveyor Ltd.,
Honeywell Pte Ltd., Murata Machinery, Ltd, Caterpillar Inc., Taikisha Myanmar
Co., ltd. and others are some of the leading players operating in Myanmar conveyor
systems market. Honeywell Intelligrated announced new products to its sortation
portfolio which included vertical conveyor and sortation, tote stacking and
destacking, and buffering & sweeper sorter systems in order to provide
flexible solutions for sortation.
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“Myanmar conveyor systems market is expected to witness
significant growth during the forecast period since the key market players are heavily
investing on research and development to design and manufacture modular
conveyors to meet the emerging needs of the customers. Additionally, the incorporation
of smart innovative technologies in the conveyor system such as the use of RFIDs
and barcode technologies to facilitate the in-line scanning is expected to bode
well for the growth of Myanmar conveyor systems market. Furthermore, rising
adoption of assembly line methodology and mass production, led by growth in
motor vehicle manufacturing, is anticipated in giving a healthy push to the market
in the country .” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Myanmar Conveyor Systems Market By Type (Belt, Roller, Overhead, Floor, Pallet,
Crescent, Cable, Bucket), By Location (In-Floor Conveyors v/s On-Floor
Conveyors & Overhead), By Load (Unit Load v/s Bulk Load), By Operation
(Semi-automatic v/s Automatic), By End User Industry (Warehouse &
Distribution, Food & Beverage, Automotive, Electronics, Mining, Airport,
Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of Myanmar conveyor
systems market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Myanmar conveyor systems market.
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