Bulk material handling is one of the crucial stage in several industrial operations which include comminution, stockpiling, logistics, conveying system, transportation, inventory management, storage facilities, loading/ unloading facilities. Equipment such as reclaimer, stacker, band conveyor, stripping shovel, bucket elevator, ship loader & unloader, stacker and screener among others comes under bulk material handling system.
According to the report by Future Market Insights, the global bulk material handling systems market was estimated to be valued at US$ 3.0 Bn in 2017 and expected to reach US$ 5.0 Bn by the end of 2027. The global bulk material handling system market is expected to register a moderate CAGR of 4.3% during the forecast period. Following insights have been cited from an exclusive interview between a journalist and market analyst associated with Future Market Insights.
Based on your exhaustive research on bulk material handling system, what are the key aspects that are likely to surge its uptake across the globe?
Building construction and infrastructure activities play significant role in the development of a region. With the rising need for rapid urbanization, construction activities are expected to witness substantial growth during the forecast period. Thereby, demand for bulk material handling equipment is likely to rise in this sector. Moreover, increasing mining activities round the world has contributed in the market growth of bulk material handling systems.
In terms of application of bulk material handling system, which equipment are likely to remain in high demand during the forecast period?
Based on construction, mining and maritime sector in particular, equipment such as ship loader& unloader, stacker, bucket elevator and band conveyor are expected to witness rise in demand. However, other rental services for heavy duty equipment such as bucket wheel excavator, shovel and stacker-cum-reclaimer are observed to attain profitable gains thus likely to remain a top priority for several end user during the forecast period.
As per FMI’s demarcation on bulk material handling system market, where do you think companies attain new opportunities in future?
Production of extruded food items such as ready-to-eat snacks, breads, pasta, baby foods, breakfast cereals, textured vegetable proteins is gaining popularity at regions witnessing ever-increasing population. Food extrusion systems are likely to offer as more economical operations with high rate of return as compared to traditional operations. Moreover, adoption of food extrusion setups is expected to increase production and packaging activities which will necessitate bulk material handling equipment in future. By this means, growing food & beverage industries are highly likely to offer remarkable opportunities for bulk material handling system market players.
Who are the major stakeholders to gain maximum market value share? What is the key strategy for market players to compete on global platform?
Several companies are focusing to cater to end user’s need for industry verticals in order to stay in competition. Manufacturers are focusing to expand product portfolio with a variety of innovative equipment at reduced prices. Another area of focus is to establish long term supply relations in order to expand market share and attract large customer base. European companies such as FL Smidth and ThyssenKrupp are expected to account maximum value share along with Japan based key players like Hitachi Construction Machinery Co. and Komatsu. Other companies like L&H Industrial and Techint Group are likely to gain potential opportunities in bulk material handling system market.
According to you, how has bulk material handling system gain traction in the Europe over the recent past?
As per regional market analysis, Europe is expected to witness outstanding growth in the global bulk material handling system market. This is highly attributed to growing maritime industry as a vital aspect of region’s economy. Some of the countries such as Denmark, Russia, the UK, Holland and Netherlands among others are actively involved in shipbuilding and marine technology. Several maritime services such as inland navigation, recreational boating, seaport services, shipping, research & development, offshore supply, maritime activities, crewing, government services, ship supplies and diving among others are linked to shipbuilding activities. Thereby growth in marine industry directly proportionate to bulk material handling system market in this region
Followed by Europe, what other regions are likely to witness fast growth in bulk material handling systems?
Growing construction and mining activities owing to rising population is anticipated in the Asia-Pacific excluding Japan (APEJ) thereby, offers potential opportunities for manufactures and rental services operating in bulk material handling system market. Moreover, several ongoing operations pertaining to mining and construction activities in GCC countries of Middle East & Africa (MEA) are expected to proliferate market growth during the forecast period.
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