Global Bulk Material Handling Market Dynamics 2017: Opportunities, Risks and Driving Factors to 2025
According to a new report published by Reports Monitor titled, “Bulk Material Handling Market by type and by Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the bulk material handling market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Europe dominates the bulk material handling market, in terms of value, and is expected to maintain this trend throughout the forecast period.
Urbanization Increases Construction activity in developed and developing countries, this boost demand of bulk material handling equipment helping market to grow at higher rate.
Adaptation of automation is increased in majorly all the industries, opens up untapped market by rise in demand of engineered equipment this fuels the growth of the market.
Growing industrialization in developing countries are lucrative market for bulk material handling equipment.
However, high initial cost and low technological penetration are some of the factors restrins the growth of the market.
• Band Conveyor accounts for highest share in the bulk material handling market.
• Mining industry is major contributor to the market followed by construction.
• Europe dominates the market due to increased demand for automation and mass production.
• Asia Pacific is expected to grow at higher rate owing growing industrialization in these developing economies.
The major companies profiled in the report include FL Smidth, Thyssenkrupp, Techint Group, Hitachi Construction Machinery Co., Liebherr Group, IHI Transport Machinery Co., Ltd., Kawasaki Heavy Industries Ltd., Sumitomo Heavy Industries Material Handling Systems Co. Ltd., L&H Industrial and DuroFelguera.
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