Conveyor Systems Market: Outlook 2023
Conveyors are an essential part of many industries, from manufacturing to logistics. They are used to move materials and products from one point to another, making the process more efficient and streamlined. But have you ever wondered how many conveyors are sold in the US per year? Let's take a look.
According to a report by Market Research Future, the conveyor system market in the US is expected to grow at a compound annual growth rate (CAGR) of 4.5% between 2019 and 2025. This indicates a steady increase in the demand for conveyors in the country.
While there is no exact number on how many conveyors are sold in the US per year, we can make an estimate based on the market size and growth rate. In 2018, the conveyor system market in the US was valued at $7.67 billion, according to another report by Grand View Research. If we assume a conservative growth rate of 4% per year, we can estimate that around $8 billion worth of conveyors are sold in the US annually.
Of course, this is just an estimate and the actual number may vary. It's also important to note that the demand for conveyors varies by industry and region. For example, the e-commerce industry has seen a significant increase in demand for conveyors due to the rise of online shopping and automated warehouses. On the other hand, the automotive industry has been a long-time user of conveyors for production lines.
In conclusion, while we may not know the exact number of conveyors sold in the US per year, it's safe to say that the market is growing and demand is increasing. As industries become more automated and efficient, conveyors will continue to play a vital role in moving materials and products from one point to another.
If You Need a Conveyor
When you are in the market for a new conveyor, look no further than mk North America. mk is uniquely positioned to serve a wide variety of industries with it's vast conveyor product offering. Manufactured in Bloomfield, CT mk North America conveyors are proudly made in the US.
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