Players in the bulk material handling systems market are focusing on applications in essential sectors including food & beverage, animal feed, agriculture, and minerals for the duration of the outbreak.
DUBAI, UAE / ACCESSWIRE / August 17, 2020 / The coronavirus pandemic has had a substantial effect on the bulk material handlings systems industry. Nationwide lockdown measures have restricted industrial operations in multiple sectors. Industries reliant on supplies from Asia in particular have been hit hard. Consequently, the bulk material handling systems market is likely to go through a short term downturn.
"Bulk material handling is a key intermediary step in manufacturing and processing sectors. While these systems do not contribute directly to the end product, applications bolster efficacy in material management, handling, storage, and the transportation of materials through efficient circulation, aiding the growth of demand in myriad verticals," says the FMI analyst.
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Bulk Material Handling System – Primary Takeaways
- Automated guided vehicles are key contributors to revenue for optimization of labor, and logistics costs.
- Material tracking software and automation sensors are expected to gain major traction among end users to bolster throughput.
- Europe will play a major role in the development of the bulk material handling systems owing to major investments into industry 4.0, robotics, and IoT.
Bulk Material Handling System – Growth Factors
- Consistent growth in industrial infrastructure investments is a key driving factor for bulk material handling systems.
- Investments and adoption of Industry 4.0 operation models are contributing to demand.
Bulk Material Handling System – Major Constraints
- High initial investments and operational costs hurt sales prospects for bulk material handling systems.
- Advancements in material and technology have reduced replacement demand, limiting sales.
The Projected Impact of Coronavirus
The coronavirus pandemic is anticipated to generate substantial supply chain disruptions for the bulk material handling systems industry owing to major nationwide lockdowns, particularly in Asian supplier countries. In addition, concerns over worker health in multiple industrial verticals has hurt demand for bulk material handling systems. Improvements in automation capabilities will become critical for market players in the near future.
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Competition Landscape
The bulk material handling systems market comprises players including but not limited to Motridal S.p.A., FL Smidth, Beumer Group, ThyssenKrupp, Satake Corp, Techint Group, Schneck Process Holding GmbH, Hitachi Construction Machinery Co., L&H Industrial, Liebherr Group, and Metso Corp.
Players in the bulk materials handling systems market are bolstering investments towards the expansion and development of facilities to keep up with changing requirements of major end user industries.
For instance, ASGCO has announced the transition and expansion of operations from Allentown to Nazareth in Pennsylvania which will include the production of bulk material handling systems. Further, Flexco Europe is relocating to a larger facility in Rosenfeld, Germany including development of bulk material handling equipment. Also, Fluor Bulk Materials Handling has opened a new subsidiary Virta Inc. for minerals and metallurgy materials handling.
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More About the Study
The FMI study provides detailed insights on the bulk material handling systems market. The market is broken down in terms of equipment (stacker, stacker cum reclaimer, band conveyor,bucket wheel excavator, stripping shovel, rope shovel, bucket excavator, and ship loader & unloader), and application (mining, packaging, construction, manufacturing, and seaports & cargo terminals) across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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