Page 74 - CO April 2017 Full Issue

INDUSTRY FOCUS: BULK MATERIAL HANDLING EQUIPMENT Bulking up Growing on the back of fast paced industrialisation & urbanisation, allied industries in the construction space are reaping fruits of labour. One such industry which is coming of age is the bulk material handling industry, which has been registering a stupendous performance latterly. Supported by new age technology advancements, this segment is set to up the construction ante in future reports Prerna Sharma. As per the recent market research reports, and the growing need for bulk equipment in intensify the competition between them. the global market for bulk material the construction industry has boosted this While solid bulk materials account for the handling products & technologies ofered domestic market substantially. majority of the market with 89.8 per cent an opportunity worth $58.86 bn in 2015. Among other regional markets, Asia share, there is a growing demand for powder Analysts project this market to expand at a Pacifc is showing signs of strong growth. bulk materials, such as cement and fertilisers CAGR of 1.30 per cent between 2016 and Te Asia Pacifc market for bulk material from the construction and agricultural 2024 and reach a value of $65.74 bn by the handling products and technologies is sectors. The demand for powder bulk end of 2024.Te worldwide bulk material largely acquired by China, which is one of material is on the rise owing to the growing handling products and technologies market the most prominent domestic bulk material need for cement from the construction is spread across North America, Asia Pacifc, handling products and technologies market industry and fertilisers from the agriculture Europe, and the Rest of the World that across the world. Researchers expect the industry. Growth in industrial automation includes the Middle East, Africa, and South china market to expand considerably in the and an increase in the assembly line concept America. Europe has been leading this years to come and have a signifcant impact and mass production methodology will market for quite some time and is expected on the Asia Pacific market. The market propel the growth of this segment in the to retain the prime position over the next in North America, on the other hand, is future. few years. In 2015, the Europe market anticipated to experience sluggish rise over Machines capable of handling bulk for bulk material handling products and the forthcoming years. materials – especially those containing technologies accounted for a share of 34.4 hazardous waste – are in high demand in per cent in the overall market. Demand trends these areas. Furthermore, bulk material and Germany, among all the European markets, Te degree of competition is high within bulk powder processing are entering the has emerged as the most attractive market this market as these companies aggressively assembly line in the manufacturing sector, for bulk material handling products and involve into mergers, acquisitions, and requiring the aid of conveyer system to meet technologies. Te increasing demand for business alliances to strengthen their the production capacity. industrial automation, which require visibility. Over the coming years, players are extensive usage of bulk material handling likely to focus more on product innovation, Sectors aiding growth equipment, rise in mass production development, and implementation of The chemical, construction, food & methods, such as assembly line production, advanced technologies, which is likely to beverages, energy, mining, oil & gas, metals, 76 construction opportunities|aPrIL 2017