Bulk Material Handling Equipment Market Analysis

Bulk Material Handling Equipment Market Analysis

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Based on product, the market is divided into conveyor belts, stackers, reclaimers, and elevators. In 2023, the conveyor belts segment accounted for a market share of over 35%. Manufacturers are developing conveyor belt equipment with advanced features, such as variable speed controls, self-cleaning mechanisms & modular designs, for easy installation and maintenance. There is also a trend toward the integration of IoT sensors & data analytics to enable predictive maintenance and optimize conveyor performance, enhancing overall operational efficiency. For instance, in December 2023, Sonata Software, a leading modernization engineering business, formed a strategic alliance with AMMEGA Group, a global leader in conveyor belts and power transmission. The collaboration intends to speed up AMMEGA's business growth by using Sonata's modernization solution & experience in end-to-end services and modernization engineering.
 

Based on sales channel, the market is categorized into manufacturers and distributors. In 2023, the manufacturers segment accounted for a market share of around 70% and is projected to grow significantly till 2032. Manufacturers are increasingly focusing on customization and modular designs to efficiently meet diverse customer requirements. This allows for the creation of tailored solutions for specific industries and applications, enhancing overall flexibility & scalability. Manufacturers are also investing in research & development to integrate advanced technologies, such as automation and robotics, further optimizing equipment performance and spurring market competitiveness. For instance, in July 2023, Metso acquired Brouwer Engineering, an Australian company with expertise in automation, control systems, and electrical solutions tailored for bulk material handling. This strategic move enhanced Metso's extensive portfolio in bulk material-handling equipment and services. By integrating Brouwer Engineering's proficiency in electrical and control systems, Metso aimed to offer an expanded range of solutions to its clientele.
 

Asia Pacific dominated the global market with a major share of around 35% in 2023. The regional bulk material handling equipment market is experiencing significant growth owing to rapid industrialization and infrastructural development. Emerging economies in the region are investing heavily in the construction, mining, and manufacturing sectors, thereby increasing the demand for material handling solutions. Additionally, technological advancements and government initiatives promoting industrial automation are fueling market expansion, particularly in countries including China and India. For instance, in June 2023, thyssenkrupp Industries India and Valmet collaborated to jointly promote & distribute process automation systems across India and other global markets, focusing on the energy sector & various process industries such as sugar, fertilizers, petrochemicals, and metals. The two companies aimed to leverage their combined expertise to offer advanced automation solutions tailored to the specific needs of these industries.