The coal handling system market is expected to remain on a steady growth path throughout the period of assessment, according to a new Fact.MR study.
The demand for coal handling system continues to remain influenced by increasing coal mining operations worldwide. In addition, surging use of coal in thermal power plants and coal-fired plants remain instrumental in driving worldwide sales of coal handling system.
Analysis of Fact.MR reveals that the demand for coal handling system is likely to translate into a significant sales volume surpassing 4500 units by end of the year of assessment, projected to expand at a volume CAGR of 3.6 % during the 2018 - 2028 timeline.
Demand for coal handling system continues will remain driven by increasing adoption in coal-fired power plants. The report envisages that the sales volume of coal handling system is estimated to expand at stellar pace across the Asia Pacific in the forthcoming years. Asia Pacific excluding Japan (APEJ) is likely to retain its status quo as the most lucrative market for coal handling system and manufacturers can expect momentous opportunities from the emerging economies in this region during the assessment period.
The emerging economies, particularly China and India collectively accounted for more than 70% of the APEJ coal handling system market in 2017 and are expected to showcase a significant market share by the end of the year of assessment.
This significant growth in the APEJ region can be attributed substantial capacity increase in coal-fired power plants. According to BP Statistical Review of World Energy 2018, Asia Pacific witnessed a 5.2% increase in the coal-fired thermal plants with China accounting for more than 60%, making it an attractive regional market for coal handling system. According to the report, India is also expected to showcase significant growth potential apropos to sales and demand for coal handling system in the coming years.
The growth of the coal handling system market can be attributed to a cohort of industry-specific and macroeconomic aspects as manufacturers of bulk handling equipment venture into the coal handling system space. The demand for bulk handling equipment such as coal handling system is projected to expand at a moderate rate on the back of growing urbanisation followed by construction activities. Coal handling system manufacturers have been investing in developing their offerings in a bid to make coal handling system more effective, energy efficient and robust for various industrial applications, says the report.
The sales of coal handling system in coal mines is expected surpass those in other applications such as seaports, although lucrativeness thermal power plant persists. According to the report, volume of coal handling system sold in thermal power plants is expected to surpass 2800 units by end of 2028, translating into significant volume share of over 60% of the overall coal handling system market.
The development of long distance coal handling system such as pipe conveyors is expected to augur well for the growth of the coal handling system market. Long distance coal handling system is a fully enclosed material handling system. Such coal handling system can provide environmental protection, use less energy, have high capacity and ensure efficient and safe transportation of the material.
Growing sales of coal handling system such as conveyors and feeders are expected to largely contribute to the growth of the coal handling system market. The report estimates that the demand for conveyors is projected to expand at a relatively higher rate as compared to other coal handling system throughout the period of assessment.
Overall, the coal handling system market outlook is likely to remain positive in the forthcoming years with the Asia Pacific excluding Japan region to remain at the forefront of sales and innovation.
Read the article online at: https://www.worldcoal.com/handling/23102019/coal-handling-system-market-to-grow-36-by-2028/