Growing Demand from Mining Companies to Increase the Market Valuation to US$62.36 billion by 2020

According to a recent report published by Transparency Market Research, the global bulk material handling products and technologies market is expected to grow at a CAGR of 1.2% during the period between 2014 and 2020. The report, titled “Bulk Material Handling Products & Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” estimates the market, which was worth US$57.60 billion in 2013, is expected to be valued at US$62.36 billion by the end of 2020.According to the report, 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. However, the report points out that high initial investment and lesser use of advanced bulk material handling technologies will restrain the market. The global bulk material handling products and technologies market has a huge opportunity to grow with increased demand from pharmaceutical, and food and beverage sectors.

 

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On the basis of types, the report segments the global bulk material handling products and technologies market into powder materials and others. Solid bulk materials account for 89.8% of the market. However, the growing demand for powder bulk materials such as fertilizers and cement, from agricultural and construction sectors will drive the market during the forecast horizon.The report segments the bulk material handling products and technologies market on the basis of end-use industries such as oil and gas companies, mining industries, agricultural farms, chemical companies, saw mills, paper mills, and others including construction and pharmaceutical industries. In 2013, mining companies accounted for 29.4% of the overall market and emerged as the largest end user segment. In mining plants, a large number of equipment such as ship loaders and unloaders, stalker reclaimers, wagon tipplers, feeders, crushers, and travelling wagon loaders are transported through bulk material handling operations. Bulk material handling equipment are increasingly in demand from agricultural sector.