According to Future Market Insights (FMI), the bulk material handling system market revenue is expected to reach $5.1 billion in 2021. The incorporation of remote user connectivity and interface in equipment, as well as the use of telematics-based services by original equipment manufacturers (OEMs), will drive the market, yielding a 2.10 percent year-on-year growth in 2021.
The demand for bulk material handling systems is driven by processes like mineral extraction, crushing, grinding, site cleaning, demolishing, and decommissioning, among other things, in the building and mining industries. As a result of continued migration, greater urbanisation, and high-value infrastructure projects with strong investment, the bulk material handling market is also growing.
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Key Takeaways of Bulk Material Handling Systems Market Study
- Key players focus on expansion of footprint in the developing countries, which also involves moving new products into new markets such as the Middle East, China and India where construction industry registered a double digit growth in the past decade.
- As per the recent trend in the mining industry in the Americas and Asia Pacific, the demand for bulk material handling systems is expected to be from open or surface pit mining especially for coal and ferrous mining.
- Since the rental and leasing service is a strong aspect of the bulk material handling systems market, many players have incorporated rental services as business segment while directly selling bulk material handling systems.
- Band conveyor and stackers have been identified as the most recognizable bulk material handling systems as they are capable of accomplishing various tasks such as stock piling and transportation, particularly in packaging and manufacturing end use industries.
“Rental services play a pivotal role in the bulk material handling systems market, as these equipment are capital intensive. Hence, to gain profits in this market, players can focus on offering rental and leasing services while also directly selling bulk material handling systems,” says an FMI analyst.
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Bulk Material Handling Systems: Competition Scenario
The bulk material handling systems market is assessed to be fragmented market, where market players such as Hitachi Construction Machinery Co., Thyssenkrupp, Kawasaki Heavy Industries, Ltd., Liebherr Group, and Sumitomo Heavy Industries are estimated maintain their dominance in the market throughout the forecast period, and have strong order inflow.
Brief Synopsis
High volume orders of bulk material handling systems are anticipated in the global market as a consequence of growing exploration and production (E&P) operations in the mining and oil & gas sectors and the construction sector as a result of expanding infrastructure projects.
Conveyors and stackers are expected to have positive market expansion because to rising benefits awareness and the resulting demand for automated bulk material handling solutions.
Despite the fact that E&P operations are recovering in Europe, the continent is predicted to have robust development due to the positive trends in the other end-use sectors that require bulk material handling systems, such as packaging and manufacturing.
Key Segments Covered in Bulk material handling system Market Study:
Application
- Mining
- Packaging
- Construction
- Manufacturing
- Sea Ports & Cargo Terminals
Equipment
- Stacker
- Stacker cum Reclaimer
- Band Conveyor
- Bucket Wheel Excavator
- Stripping Shovel
- Rope Shovel
- Bucket Elevator
- Ship Loader and Unloader
Region
- North America
- Europe
- Latin America
- APAC (Asia Pacific)
- MEA (Middle East & Africa)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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