The unit handling conveyors and conveying systems sales in the US demonstrated steady growth from 2013 to 2023, reaching a value of $4.8335 billion in 2023. The industry experienced fluctuations in year-on-year growth, including significant increases in 2014 (9.05%) and 2021 (7.78%), while facing declines in 2015 (-1.45%) and 2020 (-2.62%). Over the past five years, the compound annual growth rate (CAGR) was 2.4%, reflecting moderate and stable growth despite economic uncertainties, such as the 2020 downturn. Forecasts indicate a continued upward trend, with an estimated CAGR of 1.67%, leading to 8.66% overall growth by 2028.
Future trends to watch for:
- Advancements in automation and smart technology integration.
- Increased demand driven by e-commerce and logistical efficiencies.
- Potential impacts from economic fluctuations and supply chain disruptions.
- Greater emphasis on sustainability and environmentally friendly systems.
