Bulk Material Handling System Market: Growth Factors and Competitive Landscape Explained

Environmental conservation is gaining centre-stage across the world. And, this is bringing processes such as waste recycling and management to the forefront. It is quite pertinent to note here that both private and public sectors have contributed towards growth here. And, this is noteworthy that this will also lead to need for better bulk material handling system.

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Factors such as growth in construction volumes and expansion in oil and gas industry are set to keep the global bulk material handling system buoyant. By 2030, 85% increase in construction volumes is set to be witnesses. And, by 2050, 2 billion new people will mark the planet, driving up demand for buildings and other infrastructural spaces. Additionally, it is quite interesting to note that new hotspots for oil and gas exploration and extraction have recently been found. These include Mediterranean region, Africa, and Latin America. This expansion in oil and gas industry is set to be a a major contributor of growth, hence.

The fragmented vendor landscape of global bulk material handling system market is set to witness notable developments over the next few years. Some of the top players are Thyssenkrupp, Techint Group, FL Smidth, Hitachi Construction Machinery Co., Liebherr Group, IHI Transport Machinery Co. Ltd., and Kawasaki Heavy Industries among others.

Some of these players are quite proactive and are aiming at a higher market share over the forecast period. These are deploying numerous and varied growth strategies in the market. Some of these include mergers and acquisitions and signing notable agreements.

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In the year 2017, Bradken Limited was acquired by Hitachii Construction Machinery Co. This is improving market position of the acquirer and improving penetration and market share. Sandvik AB’s mining system operations were acquired in the same year.  The aim for the move was to ensure a better and diverse product offering and better bulk material handling.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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