The bulk material handling systems market is driven by demand from construction and mining industries, with key growth in developing regions.
Construction and mining industries are major adopters of the bulk material handling systems with demand-driven from activities such as ore extraction, crushing, grinding, site-cleaning, demolishing, decommissioning and others. Moreover, continuous migration, growing urbanization, and high value infrastructure projects with healthy investment drive growth of the bulk material handling market.
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The bulk material handling systems market was estimated at US$ 5.1 Bn in 2021 and is projected to register a CAGR of about 2% over the forecast period.
Key Takeaways of Bulk Material Handling Systems Market Study
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“Rental services play a pivotal role in the bulk material handling systems market, as these equipment are capital intensive. Hence, to gain profits in this market, players can focus on offering rental and leasing services while also directly selling bulk material handling systems,” says an FMI analyst.
Bulk Material Handling Systems: Competition Scenario
The bulk material handling systems market is assessed to be fragmented market, where market players such as Hitachi Construction Machinery Co., Thyssenkrupp, Kawasaki Heavy Industries, Ltd., Liebherr Group, and Sumitomo Heavy Industries are estimated maintain their dominance in the market throughout the forecast period, and have strong order inflow.
Brief Synopsis
The increasing exploration and production (E&P) activities in oil & gas and mining industries coupled with burgeoning demand from construction industry as a result of growing infrastructural projects is expected to led to high volume orders of bulk material handling systems in the global market.
Increasing awareness of benefits and the resulting demand for automated bulk material handling systems is anticipated to reflect optimistically on the market growth rate of conveyors and stackers.
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Though E&P activities in Europe are recovering, the region is projected to foresee healthy growth, attributable to the promising dynamics in the rest of the end-use industries that deploy bulk material handling systems, such as packaging and manufacturing.
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The article discusses the growth of the bulk material handling systems market driven by demand from construction and mining industries.
Rental services are crucial because bulk material handling systems are capital-intensive, offering a cost-effective solution for companies.
Developing countries like China and India are experiencing significant growth in the bulk material handling systems market.
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