The global bulk material handling system market size is likely to be valued at US$ 5.4 billion in 2023. The increasing application in the various end-use industries is driving market growth. The market is estimated to garner US$ 6.9 billion in 2033, recording a CAGR of 2.5% from 2023 to 2033
With increased industrialization and infrastructure development, the demand for bulk material handling equipment increases. Industries such as mining, construction, manufacturing, and agriculture require efficient and reliable systems to handle large quantities of materials like ores, coal, aggregates, grains, and chemicals.
The increasing number of infrastructural projects around the world is the major factor likely to drive the growth of the bulk material handling system market. The expansion of global supply chains and the need for faster and more reliable material handling processes fuel the market’s growth.
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Ports, logistics hubs, and distribution centers need efficient handling systems to handle and transport goods in bulk quantities. These activities are protected to create strong demand for bulk material handling systems during the forecast period.
The growing technological advancements such as automation, robotics, artificial intelligence, and sensor technologies are being integrated into material handling equipment to improve efficiency, accuracy, and safety aaaaplay a significant role in shaping the bulk material handling market demand.
Key Takeaways from the Market Study
- From 2018 to 2022, the bulk material handling system market demand expanded at a CAGR of 2.1%
- Based on equipment, the stacker segment accounts for a CAGR of 6.7%
- By application, the packaging segment is expected to expand at a CAGR of 6.8% during the forecast period
- North America to emerge as a promising bulk material handling system market, capturing a CAGR of 4%
- The bulk material handling system industry in the United Kingdom is predicted to reach US$ 6 billion by 2033
- Asia Pacific to be an opportunistic printed circuit boards market, expected to capture a CAGR of 2.5% during the forecast period.
- South Korea’s printed circuit industry is predicted to achieve a market revenue of US$ 5.3billion by 2033
Competitive Landscape
The global bulk material handling system market is fragmented with the presence of several large and medium-scale players. The leading players in the market are investing in strategic agreements in order to capture market share.
Prominent players in the bulk material handling system market are:
- Thyssenkrupp,
- Techint Group,
- FL Smidth,
- Hitachi Construction Machinery Co.,
- Liebherr Group,
- IHI Transport Machinery Co., Ltd.,
- Kawasaki Heavy Industries, Ltd.,
- Komatsu, Sumitomo Heavy Industries Material Handling Systems Co., Ltd.,
- L&H Industrial,
- Schenck Process Holding GmbH,
- Metso Corporation,
- Satake Corporation,
- Beumer Group,
- Motridal S.p.A.
Some key developments of the leading companies in this market are:
- Siemens is a global technology company that provides solutions in various industries, including automation and digitalization of material handling processes. They offer a comprehensive range of products and systems for bulk material handling, including conveyor systems, control systems, and automation solutions.
- BEUMER Group GmbH & Co. KG is a German company that specializes in intralogistics, including bulk material handling solutions. They provide equipment such as belt conveyors, bucket elevators, and automated storage and retrieval systems. BEUMER Group has been focusing on developing sustainable and energy-efficient solutions for material handling.
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Know More about What the Printed Circuit Boards(PCBs) Market Report Covers
Future Market Insights offers an unbiased analysis of the global bulk material handling system market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the printed circuit boards market, the market is segmented based on equipment, and application across five major regions.
Key Segments Covered in Bulk material handling system Market Study
Application:
- Mining
- Packaging
- Construction
- Manufacturing
- Sea Ports & Cargo Terminals
Equipment:
- Stacker
- Stacker cum Reclaimer
- Band Conveyor
- Bucket Wheel Excavator
- Stripping Shovel
- Rope Shovel
- Bucket Elevator
- Ship Loader and Unloader
Region:
- North America
- Europe
- Latin America
- APAC (Asia Pacific)
- MEA (Middle East & Africa)
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