Demand Is Predicted To Rise At A Moderate Rate Due To Increase In Construction Activities And Industrialization

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Coal handling systems are vital for the smooth and efficient flow of material and management of related systems. In its latest report on the coal handling system market, ESOMAR-certified market research and consulting firm Fact.MR analyses key factors that will fuel adoption over this decade.

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The study tracks demand in over 20+ countries, which points towards APEJ being the largest market. There is also a detailed chapter on the impact of the ongoing COVID-19 pandemic on this sector. Demand from thermal power plants is high, and this trend will continue through 2030. Fact.MR has studied the coal handling system market in detail, providing exhaustive analysis on market drivers, barriers, competitive scenario, and business potential over the coming years.

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How has the Coal Handling System Market Fared Over the Past Years?
Traditionally, coal mining has been a labor-intensive industry. With passing time and developments in technology, innovative ways have been adopted to accelerate the process of coal mining to protrude production with efficiency. This phenomenon also took place in the backdrop of vicious competition in the renewable energy sector and the introduction of alternative energy in place of coal. In addition, the share of coal obtained through the process of underground mining is consistently increasing in the global coal mining industry.

Development of automation in underground coal mining has been backed by increased safety risks for coal mine workers. Moreover, they are prone to health risks caused by harmful gases emitted by diesel-powered machinery. The emergence of technologically-advanced equipment has brought capital investments in order to exterminate toxic emissions and reduce operational costs. This has encouraged the industry to transition to electric mining equipment, because it reduces cost of operations while ensuring the safety of miners.

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What is the Future Outlook for Coal Handling Systems?
The energy and power industry has evolved to be a dynamic one over the past years, because of influential factors such as regulations, supply-demand, and price fluctuations.

Coupled with these factors is the demand for coal handling systems that has come about due to worldwide industrializations, coal mining operations, thermal power plants, and coal-fired plants. As coal consumption persists to be significant in power generation, distinguished by its low calorific value, it continues to drive sales volume of various equipment.

Leading coal handling system providers are formulating their strategies for a long-term future rather than short-term cost savings. These strategies are now aligning with advancements in technology as potential investors are emerging.

Expansion of the coal handling system market can be associated with industry-specific and macroeconomic aspects, as manufacturers of bulk handling equipment foray into this space. Demand is predicted to rise at a moderate rate due to rapid urbanization, and increase in construction activities and industrialization.

What Key Challenges Do Coal Handling Manufacturers Face?
There is a rising predilection toward renewable sources of energy because of environmental concerns such as greenhouse emissions. Alternative fuel sources such as natural gas have observed vigorous growth over the years.

Government initiatives to facilitate renewable power generation sources, such as wind solar and hydroelectricity, are projected to critically impact the coal industry on a large scale in the long run.

Concerned nations are now on the move towards a greener planet by striving to replace the usage of coal with renewable sources of energy to satiate the growing need for energy. This challenge faced by the coal mining industry, therefore, directly impacts the coal handling system market.

For example, China is the hub of various industries powered by coal, accounting 59% of China's energy consumption in 2017. Air pollution contributed to 4.9 million deaths, globally, in 2017, out of which half of these deaths were concentrated in China and India.

Now, China has become the leading country in the renewable energy sector. An investment of US$ 360 billion was pledged by the Chinese government towards the renewable sector by 2020. Thus, the shift towards renewable sources is expected to reduce the use of coal, eventually creating challenges for coal handling system manufacturers over the coming years.

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Coal Handling System Market Segmentation by Category
Application

Coal Mines
Others
Sea Ports
Thermal Power Plants
Region

APEJ
CIS and Russia
Europe
Japan
Latin America
MEA
North America
Product

Conveyors
Feeders
Others
Reclaimers
Ship Loaders & Unloaders
Stackers
Wagon Tripplers & Wagon Loaders

Key Players with a Significant Market Share
Thyssenkrupp AG
Famur SA
FLSmidth Co
A/S and Metso Corporation

For More Insights- https://www.einpresswire.com/article/557143001/worldwide-revenue-share-of-undercarriage-components-for-mini-excavators-is-expected-to-account-nearly-us-6-5-billion

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