Latin America Conveyors Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.42 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Conveyors Market Analysis
The Latin America Conveyors Market is expected to register a CAGR of 4.42% over the forecast period from 2020 to 2025. The Latin American region is expected to witness significant growth in the conveyors market, especially in emerging economies, such as Brazil and Mexico, where the industrial sector is booming. However, the region still lags significantly behind the GDP growth compared to other developing economies. To remain competitive, small and medium enterprises (SMEs) in the area are expected to start adopting automated conveyors.
- Latin American region is expected to witness steady gains for bulk handing material applications. The region offers enormous financial potential and is especially appealing to foreign investors because of its propelled industrialization, political steadiness, and high crude materials reserves. In March 2020, Dos Santos International (DSI) commissioned two Sandwich belt, high angle conveyors, for Continental Gold's Buriticá project in Antioquia, Colombia. The DSI Sandwich high angle conveyors will act as transfer conveyors elevating crushed pebble ore, each operating at an incline angle of 45° and a rate of 135 tph.
- Airports witness complex processes that are deployed around the clock and need thoughtful planning and coordination. Such demands prompt companies to offer products exclusively for airports such as Belt Conveyor, Tilt-Tray Sorter, and Baggage Tray System. According to the International Air Transport Association (IATA), aviation witnessed a significant role in Latin America's economy, employing 7.5 million people and supporting USD 156 billion in GDP in 2019. According to Trading Economics, industrial production in Brazil increased 7.10 % year-on-year in May 2019, rebounding from a 3.9% gain in the previous month. This indicates the expanding scope for automation in Brazil.
- The food and beverage sector is one of the most significant economic contributors to the region. In August 2020, Key Technology, one of the members of the Duravant family of operating companies, announced a partnership with Bem Brasil, the largest potato processor in Brazil, to add a new potato strip processing line to Bem's Perdizes facility. This multimillion-dollar purchase includes an ADR EXOS automatic defect removal system, six VERYX digital sorters, three Sliver Sizer Removers, and 57 Iso-Flo vibratory conveyors on a line designed to process 30 metric tons of frozen french fries per hour. Bem chose to partner with Key to maximize food safety and consistently meet final product quality specifications while improving its operating efficiencies and yield.
- With the continued spread of COVID-19 through Latin America, at the end of May 2020, the region became one of the pandemic's global epicenters. The manufacturing sector in the region, which was steady before the current crisis, is one of the sectors most affected by economic activity's shutdown. According to the United Nations Industrial Development Organization (UNIDO), the figures for March 2020 show a 4.8% drop in manufacturing output in Mexico compared with the previous month. In Brazil, production in March sank by 9.9% in the month. On a year-on-year basis, manufacturing output fell by 6.4% and 9.1% respectively in each country, which is expected to impact the conveyor market in the region negatively.
Latin America Conveyors Market Trends
This section covers the major market trends shaping the Latin America Conveyors Market according to our research experts:
Mining is Expected to Witness Significant Growth
- The mining industry is a significant contributor to the demand for conveyors in the region since Latin America is rich and abundant in natural resources. According to the United States Geological Survey, Chile has the world's most extensive reserves of both lithium and copper and the seventh-largest silver reserves. Peru has the world's most extensive silver reserves, third-largest zinc reserves, third-largest copper reserves, fourth-largest nickel reserves, and fifth-largest gold reserves. Mexico has the world's fourth-largest zinc reserves, sixth-largest copper reserves, fifth-largest lead reserves, sixth-largest silver reserves, and a top-ten gold producer.
- In September 2019, Chile's state copper company Codelco started belting out mineral from its USD 5.5 billion Chuquicamata underground mine as it transitions from an open-pit to an underground mining operation. The company began to operate one of the largest and essential ore conveyor systems in mining, which will take material approximately 14km from the bottom of the underground mine to the surface for processing. The system, built by Ingenieria y Construccion Sigdo Koppers (ICSK), is expected to transport 140,000 tonnes per day of the ore for the next 40-50 years and replace the use of trucks.
- In July 2020, Kinross Gold Corporation announced the results of a pre-feasibility study for its Lobo-Marte project in Chile. The study contemplates an open pit, heap leach, and SART (Sulphidization, Acidification, Recycling, and Thickening) plant operation using rope conveyors and mining the Marte and Lobo deposits in succession. The project's initial estimated capital cost is USD765 million, plus approximately USD 230 million in contingency. The estimated capital costs include mine equipment, crushing and storage facilities, conveyors, and site utilities and infrastructure.
- In September 2019, Fortuna Silver Mines Inc. announced pre-production mining at its Lindero gold Project located in the Province of Salta, Argentina. Initial blasting on Mineral Reserves commenced, and the mine is planned to build stockpiles of reserves ahead of stacking on the leach pad. All principal equipment and structures in the primary, secondary, and tertiary crushing circuits have been mounted coupled with electrical, lubrication, and hydraulic systems. Mounting and installation of conveyor belts was the main mechanical activity that took place at that time.
Mexico is Expected to Witness Significant Growth
- With virtually zero market access barriers and a highly developed industrial base, Mexico has evolved to be the largest purchaser of automation from the United States. Mexico is home to various industries, including substantial automotive and aerospace manufacturing sectors. Moreover, the country is anticipated to witness growth in the adoption of conveyors due to the increasing investments in establishing new airports and enhancing the infrastructure of the existing airports.
- Mexico has an exceptionally high potential since the country is trying to attract the favor of the top global car manufacturers. In June 2019, BMW opened its auto assembly plant in Central Mexico. Moreover, Mexico does not have enough skilled labor, and the local suppliers can hardly keep up with the car manufacturers' speed of expansion. As a result, manufacturers are increasingly adopting automation in their production lines, increasing the scope for conveyors' utilization.
- In July 2020, Endeavour Silver made an announcement regarding the robust economics in the final pre-feasibility study on the Terronera Mine Project in Jalisco State, Mexico. Several opportunities to increase the value for the Terronera Project have been identified, and one of them is the optimization of tailings transport with alternatives such as conveyor systems. Earlier in Mexico, Dos Santos International executed a contract through M3 Engineering for an overland conveyor system at Goldcorp's Los Filos Project in the Nukay mining district of central Guerrero State in Southern Mexico.
- In October 2019, Conveyor Dynamics, Inc. (CDI) had deployed two overland coal conveyors that transport 600 tph of coal from the Port of Lázaro Cárdenas to the Petacalco Power Station in Guerrero, Mexico. One of the conveyors is 3.3km long and contains four horizontal curves with 900m radii and one horizontal curve with 1200m radii. Another conveyor is 2.2km long and includes a horizontal curve with a 400m radius. CDI supplied the necessary engineering, design review, and control system for these conveyors to Duro Felguera Mining & Handling.
Latin America Conveyors Industry Overview
The Latin America Conveyors market is highly competitive, owing to the presence of multiple international companies. The market appears to be moderately fragmented, with significant players adopting strategies like product innovation and mergers and acquisitions. Some of the market's major players are Daifuku Co. Ltd, SSI Schaefer AG, Mecalux SA, etc.
- August 2020 - Dorner Latin America announced to grow its manufacturing capacity by assembling the 2200 Series precision move pallet system conveyor at its facility in Guadalajara, Mexico. The 2200 Series precision move pallet system comes with significant benefits for the assembly automation industry.
- July 2020 - Metso Corporation announced to release the second edition of their Conveyor Solutions Handbook, designed as a definitive guide for conveyor professionals in the mining and aggregate industries. The Conveyor Solution Handbook is a comprehensive 248-page guide covering all the typical challenges of properly maintaining a conveyor system.
Latin America Conveyors Market Leaders
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Daifuku Co. Ltd
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SSI Schaefer AG
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Mecalux SA
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Dorner Mfg. Corp.
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BEUMER Group
*Disclaimer: Major Players sorted in no particular order
Latin America Conveyors Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Rising Industrial and Infrastructural Development Activities in the Region
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4.3 Market Restraints
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4.3.1 High Initial Investments
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4.4 Industry Value Chain Analysis
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4.5 Industry Attractiveness - Porter's Five Forces Analysis
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4.5.1 Bargaining Power of Suppliers
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4.5.2 Bargaining Power of Buyers
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4.5.3 Threat of New Entrants
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4.5.4 Intensity of Competitive Rivalry
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4.5.5 Threat of Substitutes
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4.6 Assessment on the impact due to COVID-19
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Belt
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5.1.2 Roller
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5.1.3 Pallet
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5.1.4 Overhead
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5.2 End-User Industry
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5.2.1 Airport
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5.2.2 Retail
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5.2.3 Automotive
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5.2.4 Manufacturing
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5.2.5 Food and Beverage
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5.2.6 Pharmaceuticals
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5.2.7 Mining
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5.3 Country
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5.3.1 Argentina
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5.3.2 Brazil
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5.3.3 Colombia
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5.3.4 Mexico
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5.3.5 Chile
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5.3.6 Rest of Latin America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Daifuku Co. Ltd
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6.1.2 SSI Schaefer AG
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6.1.3 Mecalux SA
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6.1.4 Dorner Mfg. Corp.
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6.1.5 BEUMER Group
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6.1.6 Murata Machinery Ltd
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6.1.7 Honeywell Intelligrated Inc.
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6.1.8 Metso Corporation
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6.1.9 KNAAP AG
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6.1.10 KUKA AG (Swisslog AG)
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6.1.11 Bastian Solutions Inc.
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6.1.12 Kardex Group
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6.1.13 Interroll Holding AG
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- *List Not Exhaustive
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7. INVESTMENT ANALYSIS
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8. FUTURE OF THE MARKET
Latin America Conveyors Industry Segmentation
Conveyor systems are mechanical devices or assemblies that are used to transport various materials with little effort. There are different kinds of conveyor systems, usually consisting of a frame that supports either wheels, rollers, or a belt, upon which the materials move from one place to another. The scope of the study is currently focused exclusively on the Latin American region.
| Product Type | |
| Belt | |
| Roller | |
| Pallet | |
| Overhead |
| End-User Industry | |
| Airport | |
| Retail | |
| Automotive | |
| Manufacturing | |
| Food and Beverage | |
| Pharmaceuticals | |
| Mining |
| Country | |
| Argentina | |
| Brazil | |
| Colombia | |
| Mexico | |
| Chile | |
| Rest of Latin America |
Latin America Conveyors Market Research FAQs
What is the current Latin America Conveyors Market size?
The Latin America Conveyors Market is projected to register a CAGR of 4.42% during the forecast period (2024-2029)
Who are the key players in Latin America Conveyors Market?
Daifuku Co. Ltd, SSI Schaefer AG, Mecalux SA, Dorner Mfg. Corp. and BEUMER Group are the major companies operating in the Latin America Conveyors Market.
What years does this Latin America Conveyors Market cover?
The report covers the Latin America Conveyors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Conveyors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
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