Global Coal Handling Equipment Market is Expected to Reach USD 2.31 Billion by 2026: Fior Markets

New Jersey, NJ, July 24, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled,  As per the report, the global coal handling equipment market is expected to grow from USD 1,603.77 million in 2018 to USD 2,310.07 million by 2026 at a CAGR of 4.61% during the forecast period from 2019-2026. The key contributing factors for the market growth are electrification of mining equipment, developments in carbon capture and storage (CCU), R&D initiatives, and growing demand for power generation in emerging economies.

Market Outlook of the Coal Handling Equipment

• Coal handling the process of power generation in every coal-fired power plant. Coal undergoes numerous phases such as groundwork and handling phases during power generation operations. These activities require an effective and smooth material flow and quality administration framework. The increasing use of automation in coal mining to improve productivity and efficiency of mining operations has driven the coal handling equipment market.
• Electrification of mining equipment, developments in carbon capture and storage (CCU), R&D initiatives, and growing demand for power generation in emerging economies are the key driving factors for the coal handling equipment market. The environmental concerns and stringent regulations’ and government promoting cleaner fuels such as natural gas, solar, and wind energy may limit the growth of the market. However, the emerging trend of rental business in the mining industry and smoothening handling operations to reduce wastage, cost, and handling time is expected to boost the coal handling equipment market over the forecast period.

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Type Segment Analysis of the Coal Handling Equipment Market

• Material Handling
  • Belt Conveyor
  • Screw Conveyor
  • Bucket Elevators
• Crushing Equipment

The crushing equipment held the highest market share of 51.67% in 2018 owing to stationary demand for power generation in upcoming years. However the material handling segment is anticipated to grow with the highest growth rate due to the high technological advancement and increasing efficiency requirements. The coal handling at utilities requires specialized technology and equipment from unloading to crushing and dust control to fire protection. This can be obtained by using the crushing equipment hence this has further increased the segment share in the global coal handling equipment market

Application Segment Analysis of the Coal Handling Equipment Market

• Underground Mining
• Surface Mining
• Coal Processing

The underground mining segment anticipated to grow with highest market share of 41.48% over the forecast period due to the increasing adoption of electric coal handling equipment in underground coal sites. The underground extraction method is widely used for coal extraction in developing countries such as India and China. The underground mining uses the various coal handling equipment, including hydraulic jumbo drills, in-the-hole production drills, drifters, and loaders. Surface mining includes strip mining, open-pit mining and mountaintop removal mining processes for this it requrie lots of specialized equipment hence the coal handling equipment are widely used in surface mining application due to their advantages and this has increase the demand surface mining segment in the global coal handling equipment market

Region Segment Analysis of the Coal Handling Equipment Market

• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific region held the largest market share of 38.94% in the market where as the North America region held the second dominant position in the global coal handling equipment market. The Asia Pacific is the fastest-growing region due to the increasing mining industry, government initiatives to promote renewable power generation sources, and investments in coal mines. Increasing R&D initiatives to develop equipment, technological advances, and greater fuel mobility are some of the factors that led to the growth of coal handling equipment market in the North America region. The growing environmental concerns and stringent regulations, predominantly in the developed regions such as North America and Europe, have fastened down the industry over the recent past. These policies and standards have prompted power generation companies to shift away from coal and towards cleaner fuels such as natural gas. This shift has hampered the global market growth of the coal handling equipment market.

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Competitive landscape and key vendors

• Major players in the global coal handling equipment market are Caterpillar, Inc., Hitachi Construction Machinery Co., Ltd., Terex Corp., Aesha Conveyors & Crushing Equipment, Universal Engineering & Equipment Manufacturers, Eriez Manufacturing Co., GMV Projects and Systems, Elecon EPC Projects Ltd., Mitrays Industries, Atlas Copco, Roberts & Schaefer, General Kinematics Corporation, Komatsu Ltd., Sandvik AB, Magnetool, Inc., Mineral Products, Inc., CDM Systems, Inc., and others.
• For instance, in March 2019, Coal India decided to acquire INR 10,000 crore worth of high capacity mining equipment as it plans to start mining operations more aggressively to match its coal production target of 660 million tons during 2019-2020.
• For instance, in 2019, Hitachi Construction Machinery Co launched its EX-7 series, a new generation of mining excavators. The EX-7 series targets safety, productivity and connectivity, and will include six models ranging in size from 100-tonne to 800-tonne class. In addition, EX-7 excavators will feature Hitachi technologies that will bring the Industrial Internet of Things to mining sites around the world. These machines will be able to connect to online servers which collect valuable data and turn it into actionable insights, to help customers optimise the safety, production and efficiency of their operations.

About the report:

The global coal handling equipment market is analysed on the basis of value (USD Million) volume (‘000 Units), consumption (‘000 Units), imports (‘000 Units), and exports (‘000 Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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