Market Scope and Structure Analysis
With the growth in constructional sector, technological sector, medical sector and others economic development also happened worldwide. Thus, the material handling sector has experienced a growth.
The supply and handling of the resources and systems market is also growing, the materials and systems like Powder Materials, Weighing Systems, Material Feeding Systems, Conveying Systems, Screening Systems, Iron Ores and Wood Chips Coal are imported or exported and the market growth is happening.
COVID-19 Impact analysis
- COVID-19 pandemic has shut-down large number construction sites, technology advancement companies and others. This has hampered the growth of bulk material handling products and technologies market from the last few months and are likely to continue during 2021.
- COVID-19 has already affected the sales in the market of bulk material handling products and technologies. In the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for bulk material handling products and technologies equipment was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand of bulk material handling products and technologies
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Key players of bulk material handling products and technologies market are expected to afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their service activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
Top Impacting Factors
It can be clearly stated that the drivers for the bulk material handling products and technologies market are growing industrial infrastructure all over the world, increasing in the technological advancement in construction sector, chemical and mining sectors are also the contributor to bulk material handling.
As, the population growth is increasing the urbanization is also an important driver for the bulk material handling products and technologies.
The transportation market is also getting hiked; an efficient supply chain management is required for bulk Material Handling Products and Technologies Market. In addition, construction market is playing a vital role for any country to its economic growth, as the urbanization is increasing the construction market with its sub ordinate markets are growing.
Further, the regions of Asia-Pacific and LAMEA are experiencing the high growth, especially the developing countries with their new upcoming constructional, technological and other projects they are experiencing high growth in bulk material handling products and technologies market.
In addition, the key vendors in the market are trying to enhance their product line and for that the report is made for accurate forecast of the impacts and restraints in near future.
The main restraint for the bulk material handling products and technologies market is COVID-19 pandemic, due to which the workforce is not available, one more and major restraint is the raw material lineup.
- Thyssenkrupp Industrial Solutions, in 2021 launched new autonomous bucket wheel stacker reclaimer and hybrid train load out station for handling bulk materials in shipping yards. They use artificial intelligence and automation to enhance bulk materials handling performance.
- In October 2020, electric rope shovel from Komatsu Mining named “P&H 2300XPC” was delivered to a major Russian gold mine in Tenkinsky District of the Far East Magadan region. The excavator is used for stripping operations.
- The key players in the market are arranging different types of workshops for the workforce, so that they can be more educated in handling the technologies and can know about bulk material handling products and technologies market.
Key Benefits of the Report
- This study presents the analytical depiction of the bulk material handling products and technologies market with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of bulk material handling products and technologies market share.
- The current market is quantitatively analyzed to high bulk material handling products and technologies market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides bulk material handling products and technologies market analysis based on competitive intensity and how the competition will take shape in coming years.
Bulk Material Handling Products and Technologies Market Report Highlights
By System & Material Type
By End Users Type
Key Market Players
Hitachi Construction Machinery Co., FL Smidth, Komatsu, Techint Group, Thyssenkrupp, Sumitomo Heavy Industries Material Handling Systems Co, Kawasaki Heavy Industries, Ltd., IHI Transport Machinery Co., Ltd., Liebherr Group