Bulk Material Handling Products & Technologies Market
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.
The Global Market of Bulk Material Handling Products and Technologies is expected to grow at a CAGR of 1.2% during the period between 2014 and 2020.
The rapid growth of the industrial and construction sectors in emerging markets is expected to propel the global bulk material handling products and technologies market, especially for the transportation of products such as iron ores, wood chips, coal, and limestone. Increased industrial automation along with increase in mass production methodology and assembly line concept will further boost the market.
Pharmaceutical industry needs bulk material handling products for product containment, feeding reactors and stirrer containers with basic chemicals. Opportunity for bulk material handling product market lies in this sector because the pharmaceutical industry is growing at a constant rate and this would increase the demand for bulk material handling products. Expansion of commercial farmlands and growth of mining sector in Asia Pacific have jointly impacted the usage of bulk material handling products and technologies. The increase in automation in the manufacturing companies is driving the growth of the market; as the bulk material handling equipment is an integral part of the automation process However, high initial cost and low technological penetration are the major restraints in the growth of global bulk material handling products & technologies market.
Some of the leading players in the market are, ThyssenKrupp AG (Germany), FLSmidth & Co. A/S (Denmark), TENOVA (Italy), Metso (Finland), TRF Ltd (India) and SENET (South Africa) among others.
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