Latin America Conveyors Market Report and Forecast 2024-2032

Latin America Conveyors Market Outlook

The Latin America conveyors market size attained a value of approximately USD 1.05 billion in 2023. The market is further projected to grow at a CAGR of 4.2% in the forecast period of 2024-2032, reaching a value of around USD 1.52 billion by 2032.

Key Trends in the Market

Conveyors or conveyor systems are mechanical equipment that are used to move materials or products from one location to another, and are useful for transportation of bulky items or large volumes of items. They typically comprise of a frame upon which a carrying system such as belt or chain is fixed where materials are placed and transported by the movement of the carrying material.

• Increasing economic development and industrialisation across the Latin America region, particularly in emerging nations such as Brazil, is driving the Latin America conveyors market demand. Conveyors are used across industries and in manufacturing processes for scalable production of a variety of consumer goods, foods and beverages, and pharmaceuticals.

• Surging investments in airport development in the Latin America region, supported by introduction of private sector participation in various countries and increasing tourism, is augmenting the demand for conveyors in airport end uses. In airports, conveyors aid in smooth movement of luggage to desired locations, aiding passenger convenience.

• Rising adoption of advanced technologies such as automation, artificial intelligence, and machine learning are anticipated to be key trends in the Latin America conveyors market. More small and medium enterprises are adopting new technologies and automated conveyor systems to streamline production processes and gain a competitive edge.

Market Analysis

Based on type, the market is divided into belt, chain, roller, pallet, and overhead. On the basis of operation, the Latin America conveyors market segmentation is manual, automatic, and semi-automatic. By end use, the market is categorised into food and beverage, pharmaceuticals, mining, retail, manufacturing, and airport, among others. The major countries in the conveyors market in Latin America are Brazil, Argentina, Uruguay, Chile, Paraguay, and Bolivia, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Latin America conveyors market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Dorner Mfg. Corp.

• Siemens AG

• Honeywell International Inc.

• SSI Schäfer Group

• MECALUX Group

• BEUMER Group GmbH & Co. KG

• Metso Corporation 

• Others

Market Share by Operation

Automatic conveyor systems, by operation, are anticipated to witness a rapidly growing Latin America conveyors market share in the coming years as more industries invest in upgrading conveyor systems for streamlined operations. Through the use of automatic conveyor systems, requirement for manual intervention can be minimised and products can be directly moved as needed. The reduced need for manual labour results in lower operating costs, faster performance, and minimal errors, thereby improving the overall efficiency of operations. Productivity can be enhanced and various additional systems can be integrated with automatic conveyors to suit the needs of the specific application. The versatility of these systems enable smooth integration with a wide range of processes and products, due to which their demand is projected to increase in the forecast period.

Market Share by End Use

Mining accounts for significant share of the conveyors market in Latin America, driven by the thriving mining industry due to presence of rich natural resources and support of governments in the region. In large scale mining reserves, sturdy conveyor systems are used to transport ore from underground mining locations to the surface for further processing. Depending upon the location of reserves, weight of material to be transported, and distance, custom conveyor systems are deployed and play an integral role in efficient mining operations. Outside of the mining locations, conveyor systems are also utilised in processing plants and refining, for the movement of ore throughout the supply chain. Increasing demand for mining and investments towards improving production are likely to bolster the Latin America conveyors market growth further.

Competitive Landscape

Dorner Mfg. Corp., established in 1966 and headquartered in Wisconsin in the United Sates, specialises in conveyor solutions, catering to customers across industries globally. The company is a prominent manufacturer of custom and packaged conveyor systems for industrial, sanitary, and packaging conveyor applications.

Siemens AG, founded in 1966 and currently based in Munich, Germany, is a technology company with a focus on infrastructure, industry, transportation, and healthcare. The product and services portfolio of the company includes energy, financing, healthcare, industrial automation, mobility, software, and consumer products.

Honeywell International Inc. is a multinational conglomerate specialising in safety and productivity solutions, building technologies, aerospace, and performance materials and technologies. Established in 1906 and currently headquartered in North Carolina, United States, the company’s products include automation in distribution, voice technology, and industrial sensors, among others.

Other market players include SSI Schäfer Group, MECALUX Group, BEUMER Group GmbH & Co. KG, and Metso Corporation, among others.

Key Highlights of the Report