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Bulk Material Handling Equipment Market Trends

Report ID: GMI8188
Published Date: Feb 2024
Report Format: PDF

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Bulk Material Handling Equipment Market Trends

The bulk material handling equipment industry is witnessing a shift toward industrial automation. Companies are increasingly adopting advanced technologies, such as IoT, robotics, and AI, to improve operational efficiency, safety & productivity. The integration of smart sensors and data analytics enables real-time monitoring & predictive maintenance, optimizing material handling processes and driving overall market growth. For instance, in November 2023, Mitsubishi developed an innovative AI-based solution - M's BRIDGE, which is a suite of predictive maintenance solutions that monitor elevators 24/7 and empower technicians to address issues promptly. This AI technology works in cooperation with humans, enhancing their ability to provide superior elevator and escalator solutions.

The growing emphasis on sustainability is influencing the market. Manufacturers are developing eco-friendly solutions with reduced energy consumption and emissions. There is also a rising demand for equipment with features such as dust suppression systems and noise reduction technology to minimize the environmental impact. Sustainability-focused initiatives by governments and corporations are propelling the adoption of green material handling practices across industries. Such initiatives will boost market growth over the forecast period.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size for bulk material handling equipment was valued at USD 46.5 billion in 2023 and is estimated to register over 4.5% CAGR between 2024 & 2032 driven by the exponential growth of e-commerce and logistics, necessitating efficient handling of goods in warehouses and fulfillment centers.

In 2023, the manufacturers segment accounted for a market share of around 70% and is projected to grow through 2032 as manufacturers are increasingly focusing on customization and modular designs to efficiently meet diverse customer requirements.

Asia Pacific market for bulk material handling equipment was around 35% in 2023 and will grow significantly through 2032 owing to rapid industrialization and infrastructural development.

Beumer Group, Continental AG, Crown Equipment Corporation, Daifuku Co., Ltd., Honeywell International Inc., Jungheinrich AG, MHS Conveyor, Mitsubishi Electric Corporation, SSI Schaefer Group, and TGW Logistics Group GmbH.