Conveyor Monitoring Market Size (2024 - 2029)

The conveyor monitoring market is experiencing growth due to an increased emphasis on reducing revenue losses from conveyor system faults and a heightened awareness of predictive maintenance tools. This market expansion is driven by the need to eliminate waste, cut maintenance costs, and enhance customer credibility. The demand is further accelerated by the recognition of the importance of machine condition monitoring and the reduction of human error in industrial processes. Companies are integrating advanced technologies like automation and monitoring to improve safety, which is expected to significantly enhance the market's scope and scale in the coming years.

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Market Size of Conveyor Monitoring Industry

Conveyor Monitoring Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 4.20 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Conveyor Monitoring Market Companies

*Disclaimer: Major Players sorted in no particular order

Conveyor Monitoring Market Analysis

The conveyor monitoring market was valued at USD 206.77 million in 2020 and expected to reach USD 264.67 million by 2026 and grow at a CAGR of 4.2% over the forecast period (2021-2026). The rising focus of companies towards the reduction of revenue loss owing to faults in conveyor systems coupled with the growing awareness of predictive maintenance tools and techniques. In addition to this, the conveyor monitoring system also helps in eliminating wastage, cut maintenance costs and increase the credibility of the customers.

  • According to World Multidisciplinary Earth Sciences Symposium, the financial losses that American underground hard coal mines incur due to downtime caused by belt failures are estimated at USD 240 000, i.e. approx. USD 1 000 per minute, as mean repair time was 4 hours. Losses of this scale, which occurred due to emergency downtimes in the period of increased coal demand, were the reason behind developing a machine vision system which monitors splice and belt condition and which prevents failure.
  • The demand for conveyor monitoring market is quickening owing to the improved awareness for machine condition monitoring and the requirement of mitigating damages occurring due to human error during industrial processes. Furthermore, increased recognition for predictive maintenance techniques and tools, eliminate wastages fuelling the growth of the market has augmented the market.
  • Companies in the conveyor monitoring market such as Vayeron and Sandpit are focusing to improve safety needs by incorporating advanced technology such as automation and monitoring technology. This is expected to revolutionize the demand for an advanced conveyor with increased safety in the next few years. Thus offering a significant boost to the conveyor monitoring market in the coming few years.

Conveyor Monitoring Industry Segmentation

Conveyor monitoring is considered as the process of determining the condition of the conveyor systems such as the belt and the motor while it is in operation. It assists in detecting any potential failure propability in advance, thereby supporting to cut the cost of maintenance, help reduce downtime of conveyors, and increase and maintain the efficienct running of conveyors and production in the industry.

By Type
Hardware
Software
By Type of Monitoring
Conveyor Belt Monitoring
Conveyor Motor Monitoring
By End-user Industry
Automotive
Consumer Goods Packaging
Mining
Other End-user Industries
Geography
North America
US
Canada
Europe
Germany
UK
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
South America
Mexico
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Egypt
Rest of Middle East and Africa
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Conveyor Monitoring Market Size Summary

The conveyor monitoring market is experiencing growth driven by the increasing emphasis on reducing revenue losses due to conveyor system faults and the rising awareness of predictive maintenance tools. These systems are crucial in minimizing wastage, lowering maintenance costs, and enhancing customer trust. The demand for conveyor monitoring solutions is accelerating as industries recognize the importance of machine condition monitoring and the need to mitigate damages from human errors. Companies like Vayeron and Sandpit are integrating advanced technologies such as automation and monitoring to improve safety, which is expected to significantly boost the market in the coming years.

Regionally, the Asia-Pacific (APAC) market is anticipated to grow at the highest rate, fueled by technological innovations and the adoption of automation in various industries. Factors such as rapid urbanization, technological advancements, favorable government policies, and healthy foreign direct investment inflows are contributing to the demand for conveyor monitoring solutions in this region. Countries like China and Australia are leading the adoption of real-time monitoring systems to enhance operational efficiency in their robust mining sectors. The competitive landscape of the conveyor monitoring market is moderately fragmented, with major players focusing on product innovation and strategic mergers and acquisitions to strengthen their market presence.

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Conveyor Monitoring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Adoption of Predictive Maintenance Tools and Techniques

    3. 1.3 Market Restraints

      1. 1.3.1 Limited In-House Skillset to Manage Monitoring Solutions and Analyze Data

      2. 1.3.2 High Costs of Installation and Maintenance

    4. 1.4 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Hardware

      2. 2.1.2 Software

    2. 2.2 By Type of Monitoring

      1. 2.2.1 Conveyor Belt Monitoring

      2. 2.2.2 Conveyor Motor Monitoring

    3. 2.3 By End-user Industry

      1. 2.3.1 Automotive

      2. 2.3.2 Consumer Goods Packaging

      3. 2.3.3 Mining

      4. 2.3.4 Other End-user Industries

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 US

        2. 2.4.1.2 Canada

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 UK

        3. 2.4.2.3 Rest of Europe

      3. 2.4.3 Asia Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Rest of Asia-Pacific

      4. 2.4.4 South America

        1. 2.4.4.1 Mexico

        2. 2.4.4.2 Brazil

        3. 2.4.4.3 Argentina

        4. 2.4.4.4 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 South Africa

        2. 2.4.5.2 Egypt

        3. 2.4.5.3 Rest of Middle East and Africa

Conveyor Monitoring Market Size FAQs

The Conveyor Monitoring Market is projected to register a CAGR of 4.20% during the forecast period (2024-2029)

ContiTech AG, Emerson Electric Co, Honeywell International Inc., Fenner Dunlop Inc. and Yellow Technical Services (Pty) Ltd. are the major companies operating in the Conveyor Monitoring Market.

Conveyor Monitoring Market Report Snapshots

Conveyor Monitoring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)