As per Future Market Insights (FMI) analysis, the bulk material handling system market revenue is expected to reach US$ 5.1 Bn in 2021. Incorporation of remote user connectivity and interface in equipment and use of telematics based services by original equipment manufacturers (OEMs) will drive the market, yielding a year-on-year growth of 2.10% in 2021.
The global sales of bulk material handling system are forecast to grow from 13,000 units in 2021 to over 14,000 units by the end of 2031. FMI projects moderate growth for bulk material handling system market at an overall compound annual growth rate (CAGR) of 2% between 2021 and 2031.
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Key Takeaways of Bulk Material Handling Systems Market Study
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By Segmentation:
Application
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Structure Analysis
The global bulk material handling systems market is estimated to be fragmented, owing to the number of players in the industry and also due to the prevalence of rental services at the global level.
In the global bulk material handling systems market, major shareholders are offering an extensive range of products, and have footprint in almost all the regions. On the other hand, rest of the competitors are engaged in offering a few bulk material handling system solutions with a limited presence.
Manufacturers operating in the bulk material handling systems market are focusing on business expansion through acquisitions to strengthen their market position.
In July 2017, FLSmidth entered into an agreement to acquire mining Systems operations of Sandvik AB, with an aim to expand its product offering and bulk material handling systems market reach.
In 2017, Hitachi Construction Machinery Co., Ltd. acquired Bradken limited, a major manufacturer and supplier of bulk material handling systems products for mining, transport, general industrial and contract manufacturing markets.
Major manufacturers in the bulk material handling systems market are Thyssenkrupp, Techint Group, FL Smidth, Hitachi Construction Machinery Co., Liebherr Group, IHI Transport Machinery Co., Ltd., Kawasaki Heavy Industries, Ltd., Komatsu, Sumitomo Heavy Industries Material Handling Systems Co., Ltd., L&H Industrial, Schenck Process Holding GmbH, Metso Corporation, Satake Corporation, Beumer Group, and Motridal S.p.A.
The global sales of bulk material handling system are forecast to grow from 13,000 units in 2021 to over 14,000 units by the end of 2031. FMI projects moderate growth for bulk material handling system market at an overall compound annual growth rate (CAGR) of 2% between 2021 and 2031.
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https://www.futuremarketinsights.com/reports/sample/rep-gb-672
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.
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By Segmentation:
Application
- Mining
- Packaging
- Construction
- Manufacturing
- Sea Ports & Cargo Terminals
- Stacker
- Stacker cum Reclaimer
- Band Conveyor
- Bucket Wheel Excavator
- Stripping Shovel
- Rope Shovel
- Bucket Elevator
- Ship Loader and Unloader
- North America
- Europe
- Latin America
- APAC (Asia Pacific)
- MEA (Middle East & Africa)
https://www.futuremarketinsights.com/ask-question/rep-gb-672
Structure Analysis
The global bulk material handling systems market is estimated to be fragmented, owing to the number of players in the industry and also due to the prevalence of rental services at the global level.
In the global bulk material handling systems market, major shareholders are offering an extensive range of products, and have footprint in almost all the regions. On the other hand, rest of the competitors are engaged in offering a few bulk material handling system solutions with a limited presence.
Manufacturers operating in the bulk material handling systems market are focusing on business expansion through acquisitions to strengthen their market position.
In July 2017, FLSmidth entered into an agreement to acquire mining Systems operations of Sandvik AB, with an aim to expand its product offering and bulk material handling systems market reach.
In 2017, Hitachi Construction Machinery Co., Ltd. acquired Bradken limited, a major manufacturer and supplier of bulk material handling systems products for mining, transport, general industrial and contract manufacturing markets.
Major manufacturers in the bulk material handling systems market are Thyssenkrupp, Techint Group, FL Smidth, Hitachi Construction Machinery Co., Liebherr Group, IHI Transport Machinery Co., Ltd., Kawasaki Heavy Industries, Ltd., Komatsu, Sumitomo Heavy Industries Material Handling Systems Co., Ltd., L&H Industrial, Schenck Process Holding GmbH, Metso Corporation, Satake Corporation, Beumer Group, and Motridal S.p.A.
