By the end of 2031, sales of bulk material handling systems market are anticipated to increase from 13,000 units in 2021 to over 14,000 units. The bulk material handling system market’s revenue is anticipated to reach US$ 5.1 billion in 2021, according to Future Market Insights (FMI).
The use of telematics-based services by specialised equipment manufacturers (OEMs) and the integration of remote client networks and connection points into hardware will propel the market and result in a 2.10 percent growth year-over-year in 2021.
Processes in the construction and mining industries, such as ore extraction, crushing, grinding, site cleaning, demolishing, and decommissioning, among others, are what drive the demand for bulk material handling systems. Due to escalating urbanisation, ongoing migration, and expensive infrastructure projects with
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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.
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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.
The increasing exploration and production (E&P) activities in oil & gas and mining industries coupled with burgeoning demand from construction industry as a result of growing infrastructural projects is expected to led to high volume orders of bulk material handling systems in the global market.
Increasing awareness of benefits and the resulting demand for automated bulk material handling systems is anticipated to reflect optimistically on the market growth rate of conveyors and stackers.
Though E&P activities in Europe are recovering, the region is projected to foresee healthy growth, attributable to the promising dynamics in the rest of the end-use industries that deploy bulk material handling systems, such as packaging and manufacturing.
Key Segments Covered in Bulk material handling system Market Study:
- Sea Ports & Cargo Terminals
- Stacker cum Reclaimer
- Band Conveyor
- Bucket Wheel Excavator
- Stripping Shovel
- Rope Shovel
- Bucket Elevator
- Ship Loader and Unloader
- North America
- Latin America
- APAC (Asia Pacific)
- MEA (Middle East & Africa)
About Future Market Insights (FMI)
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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