Bulk Material Handling Products & Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
Albany, NY -- (SBWIRE) -- 06/19/2015 -- The global bulk material handling products and technologies market has been propelled by the growth in the chemical and the mining industries. The bulk material handling products and technologies include stationary machineries such as screw conveyors, conveyor belts, stackers, bucket elevators, reclaimers, truck dumpers, wagon tipplers and railcar dumpers, ship loaders, diverters, and hoppers and multiple mobile equipment such as loaders and several shuttles, together with storage facilities such as storage silos, stockyards, or stockpiles. The advanced bulk material handling products and technologies feature incorporate bulk storage, transmission, and delivery.
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The main purpose of the bulk material handling products and technologies is to ship iron ores, cereals, wood chips, coal, limestone, and potash from one location to another. The demand for powdered bulk materials such as cement and fertilizers is very strong from the construction and agricultural industries, respectively. The mining facilities have included a broad array of engineered products such as stalker reclaimers, loaders and unloaders of ship, wagon tipplers, travelling wagon loaders, crushers, screening equipment, and feeders into their concrete bulk material handling processes.
The bulk material handling machineries are also utilized for transporting mixed wastes. Going further, innovative technologies are giving rise to advanced automated devices for handling bulk materials. These devices are mostly being employed in the chemical industry for the careful handling of the perilous wastes. These factors are expected to amplify the growth in the global market for bulk material handling products and technologies significantly during period of 2014 to 2020.
Emerging Industrial Infrastructure and Construction industry in Asia Boosts Global Market Development
The industrial infrastructure and construction industry is in an emerging stage in Asian nations such as China, India, and Indonesia. This is one major factor that is driving the global bulk material handling products and technologies market. Besides this, bulk material handling products and technologies are broadly employed in the agricultural market to relocate and transport crops and fertilizers that has catered for the growth in this market over the years.
The global market for bulk material handling products and technologies was worth US$57.60 billion in 2013. It is estimated to reach US$62.36 billion by 2020, increasing at a 1.2% CAGR during the period of 2014 to 2020.
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The powder material market and the market for other materials such as iron ores, wood chips, and cola are the main segments of the global bulk material handling products and technologies industry. The other bulk materials market accounts for a larger share of market compared to the powder bulk materials across the globe occupying 89.8% of the entire market.
On the basis of end-use application, the bulk material handling products and technologies industry is classified into oil and gas, mining, chemical, paper mills, sawmills, agricultural farms, and others such as pharmaceutical and construction. The mining industry was the highest contributing segment between end users, holding 29.4% of the total market share in 2013.
North America, Europe, Asia Pacific and Rest of the World are the four regional markets of the global bulk material handling products and technologies industry. Europe generated the highest revenue for this market in 2013, holding 34.5% of the entire bulk material handling products and technologies industry. The demand of bulk equipment in the construction industry, the development in mass production methods, and the rise in the demand for automation in manufacturing industry are the main forces driving the growth in bulk material handling products and technologies industry in Europe. The European market is followed by the bulk material handling products and technologies market in Asia Pacific that held 32.4% of the overall market in 2013.
Continuous Development in Food and Beverages Market to Propel Market Growth in Future
The leading players in the global bulk material handling products and technologies market are Germany based ThyssenKrupp AG, Danish firm F L Smidth & Co. A/S, Italian firm TENOVA, Finnish company Metso, India based TRF Ltd., and South African enterprise SENET.
The future of the global market for bulk material handling products and technologies are seemingly thriving due to the continuous development in food and beverage industry coupled with the rise in pharmaceutical industry as well as the active pharmaceuticals ingredient (API).
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