Consumption of coal remains strong across industries due to its low price, which is also leading to strong sales of coal handling systems, globally. These systems are an integral part of a plant’s material flow and coal quality management. Coal handling system are largely used across industries, especially at coal mining plants, thermal power stations, and ports. Even though developed regions of the world are pushing for use of renewable energy, overall, coal mining across the world, especially APEJ, which is the largest market, is increasing, consequently leading to more demand for efficient coal handling systems.
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Key Takeaways from Coal Handling System Market Report
- In the region of Asia Pacific, demand for the coal management systems is expected to surge on the back of increasing capacity expansions, particularly in India and China. As such, APEJ will hold more than two-third share of the overall market through 2030.
- Demand from coal mines in high across North America, while in the rest of the world, demand is high for operations at thermal power plants.
- By product, conveyors hold the top spot as far as sales of coal handling systems are concerned.
- Technological advancements will play a huge role in advancing sales over the coming years.
“In the first few months of the COVID-19 pandemic, due to trade and other restrictions, industrial activities suffered a blow, which reduced demand for coal handling equipment. However, as restrictions have been eased, demand has picked up and is getting back to its original growth trajectory,”says an analyst at Fact.MR.
Important Market Movements
- Notwithstanding of pollution issues, India authorized 13 GW thermal plants from January 2017 to August 2018.
- Growth of the coal handling system market is likely to be threatened by increasing inclination of industrial sectors towards renewable sources of energy such as solar, wind, and bio-electricity, due to emissions concerns.
- The Chinese government pledged to invest around US$ 360 billion in the renewable sector before 2020.
- ThyssenKrupp AG signed a contract with Doosan Power Systems India, with a view of providing coal management systems worth around US$ 115 million for two big thermal projects in UP, India.
- Famur SA signed an energy and mining expansion agreement, and has strengthened its position in the market in Poland with the Polish Development Fund.
- In 2016, in an attempt to improve its position in Russia, Metso Corporation broadened its agreement with Sever Minerals.
Coal Handling System Market Segmentation by Category