The sales of bulk material handling conveyors and conveying systems in the US have shown fluctuations over the past decade. As of 2023, the market value stood at 2.2532 billion US dollars, slightly up from 2.2396 billion in 2022, representing a 0.61% year-on-year growth. Observing the past two years, the year-on-year variations were modest, with an average growth rate (CAGR) of 0.64% from 2018 to 2023.
Past data reveals a mixed trend with significant dips and recoveries, like a drastic fall in 2016 (-7.01%) and a subsequent increase in 2021 (5.93%). From 2013 to 2018, fluctuations were common, but stability seemed to begin setting in post-2019 with smaller year-on-year variations.
The forecast for the coming years indicates a consistent but modest growth trajectory, with a 0.49% CAGR predicted from 2024 to 2028. The market is expected to reach 2.324 billion US dollars by 2028, suggesting a stable demand curve.
Future trends to watch for include advancements in automation and smart technologies, which could potentially spur demand. Environmental regulations and shifts towards more sustainable practices might also influence market dynamics, necessitating investment in eco-friendly conveyor systems.
