Key Factors Shaping Bulk Material Handling Systems Market
Increasing Infrastructural Projects to Create Lucrative Opportunities
With the rise in infrastructural projects and economic development worldwide, material handling equipment is gaining more acceptance. Rapid infrastructural development activities are creating a demand for construction and mining equipment with increased efficiency and productivity.
This fueling sales of heavy-duty off road vehicles for moving debris and other construction aggregate materials, as well as transport raw ore from one place to another efficiently. Construction sector is one of the major giant playing an important role in any countries economic development, and every country spends significantly for the same. Consequently, numerous players are aiming to enter this sector.
In 2018, the top 100 construction companies recorded a revenue total of US$ 1.39 Trillion, an increase of 10% as compared to the previous year. 41% of these companies are based in China, and one-fourth are based in Europe. On the back of these factors, demand for bulk material handling systems is anticipated to rise substantially over the forecast period.
Recovering Mining Industry to Support Market Growth
Mining, construction, and oil & gas industries have witnessed a significant decline during the first half of the decade. Geo-political factors, trade wars, unstable governments have affected these industries in various countries. The mining industry forms the crux of the economy in countries like Chile, Venezuela, and Peru.
Moreover, the mining industry accounts for 33% of the total energy consumption market globally. Recent trends have witnessed a resurgence of the mining industry in major countries. Moreover, a 53% rise in mining activities is anticipated in the next decade, which will led to an increase in demand for bulk material handling systems.
Rising Concern regarding Waste Management to Boost Sales
Growing concern regarding adverse environmental impact of various industries influences consumers to show an inclination towards waste recycling and management. Recycling waste is proving to be significantly successful in offering several environmental benefits such as reduction of greenhouse gases resulting from landfills, and conservation of natural resources.
This accomplishment is due to the combined effort of public and private sectors. Hence, bulk material handling systems are gaining traction on a large-scale, especially in the privately operated sectors, and composting sites. This augments the demand for bulk material handling systems.
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Bulk Material Handling Systems Market: 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.
FREQUENTLY ASKED QUESTIONS ABOUT BULK MATERIAL HANDLING SYSTEM MARKET
How will the bulk material handling systems market be critical in the future?
Bulk material handling systems are employed across a wide range of industries with limited-to-no alternatives except automation and technological advancement in the existing equipment. This makes bulk material handling systems an essential part of every end-use industry.
Does high initial investment and operational cost affect the adoption rate of bulk material handling systems?
Yes, bulk material handling systems are capital intensive, and also require periodical servicing as there are mandates for maintenance of such equipment from government authorities to ensure safer workplaces. Yet, volume sales of bulk handling systems market is estimated to witness a healthy growth rate during the forecast period.
Which application area holds potential growth opportunities for market players?
Though the mining segment holds a major share of the market, the manufacturing segment is estimated to create lucrative opportunities for players in the bulk handling system market. The emerging trend of automated solutions such as band conveyors in manufacturing, especially for assembly lines, is expected to substantially contribute to the growth of the global bulk material handling systems market.
What is the degree of competition in the bulk material handling systems market?
There are number of global and domestic players in the market, and prominent players such as Hitachi Construction Machinery Co., Thyssenkrupp, Kawasaki Heavy Industries, Ltd., Liebherr Group, and Sumitomo Heavy Industries hold about one-third of the total market share. Moreover, regional and domestic players are facing immense competition from globally established players.
Which region will lead in terms of global sales of bulk material handling systems?
Europe is projected to remain dominant in the bulk material handling systems market as the region has well-established sea ports and manufacturing industries, thereby registering higher per-capita consumption. As material handling solutions are an integral part of the packaging and mining industries, the Americas is projected to follow Europe in terms of value share.
Bulk Material Handling Systems Market: Segmentation
The global bulk material handling systems market is segmented by equipment, application, and region.
- Stacker cum Reclaimer
- Band Conveyor
- Bucket Wheel Excavator
- Stripping Shovel
- Rope Shovel
- Bucket Elevator
- Ship Loader and Unloader
- Sea Ports & Cargo Terminals
- North America
- Latin America
- APAC (Asia Pacific)
- MEA (Middle East & Africa)