Increase in demand for different types of bulk material handling products such as conveyor belts, stackers, reclaimers, and spreaders for process automation across various industries has fuelled the growth of the market for Bulk Material Handling Products and Technologies. Growing demand for bulk material handling products & technologies in the mining and chemical sectors globally has fuelled the growth of bulk material handling products & technologies market. Moreover, bulk material handling products and technologies are also used in the agricultural farms for the storage and movement of crops and powder bulk materials. Modernised, automated machineries for handling bulk materials are largely being used in the chemical industry to carefully handle the hazardous chemical wastes.
Furthermore, the need of assembly line in the manufacturing sector is also driving the bulk material handling products and technologies market. In addition, pharmaceutical industry needs bulk material handling products for product containment, feeding reactors and stirrer containers with basic chemicals. Moreover, with the growing need for automation in manufacturing industry, it creates a huge demand for material handling equipment.
In order to carry out the automation process, manufacturers need bulk material handling equipment. Opportunity for bulk material handling product market lies in this sector because the pharmaceutical industry is growing at a constant rate and this would increase the demand for bulk material handling products. The increase in automation in the manufacturing companies is driving the growth of the market; as the bulk material handling equipment is an integral part of the automation process. Thus, increasing global demand for mining activities and production automation is fuelling growth of the bulk material handling products and technologies market. However, high initial cost and low technological penetration are the major restraints in the growth of global bulk material handling products & technologies market.