Bulk Material Handling Products & Technologies Market - Giving Rise to Modernized, Automated Machineries
These products include excavators, conveyor belts, stackers, reclaimers, bucket elevators, ship loaders, and hoppers. The advancement in the mining and chemical industry has propelled the growth of bulk material handling products and technologies.
Bulk material handling equipment is capable of storing and moving bulk products such as limestone, wood chips, coal and potash among others. Thus, these equipment are highly used in mines, agricultural farms, shipyards and refineries.
The primary purpose of the bulk material handling products and technologies is to transport cereals, iron ores, wood chips and coal from one place to another. Moreover, new technologies are giving rise to modernized, automated machineries for handling bulk materials and these are largely being used in the chemical industry to carefully handle the wastes.
Bulk material handling equipment such as conveyor belts, screw conveyors, mobile and semi mobile crushers, heap leaches, elevators, hoppers, reclaimers and stackers are widely used in the mining and construction sectors globally.
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Global bulk material handling products and technologies market is primarily driven by factors such as growth of industrial infrastructure and construction sector in emerging markets, increase in industry automation and increase in mass production methodology and assembly line concept.
Furthermore, industrial infrastructure and construction sectors are witnessing high demand for bulk material handling equipment in developing countries such as China, India, Indonesia and others, driven by large spending for new capacity of existing plants.
The increase in automation in the manufacturing sector is driving the growth of the market as the bulk material handling equipment is an integral part of the automation process. Moreover, increase in mining activities, growth in the agricultural sector and innovations in bulk material handling products and technologies are driving the expansion of this market.
Considering all these positive impacts, demand for bulk material handling products and technologies is set to rise during the forecast period, i.e., 2014 to 2020.
The global bulk material handling products and technologies market has been broadly segmented into four regions, North America, Europe, Asia Pacific and RoW (Rest of the World). In terms of revenue, Europe acquired the largest share of the market in 2013 followed by Asia Pacific. Rise in the demand for bulk material handling products and technologies has been observed in mining and construction sectors.
The key factors that are driving the growth of the bulk material handling equipment market in Europe are growth in mass production methods such as assembly line production, increasing demand for automation in manufacturing companies, and the requirement of bulk equipment in the construction industry.
Growth of bulk material handling products and technologies market in Asia-Pacific region can be attributed to the high dependence on agricultural activities and demand for bulk material in the mining industry.
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