Tuesday 27 September 2016

Coal Handling Equipment Market is expected to witness a brisk growth over the forecast period

Global coal handling equipment market is expected to witness a brisk growth owing to increasing efficiency criterion for the industry over the forecast period. Coal undergoes several phases such as preparation and handling phases during power generation operations. Such variety of operations demands an efficient and smooth material flow and quality management system.

Coal is still a dominant fuel for power generation, especially in the emerging regions such as Asia Pacific. Economies such as China and India have coal as their dominant fuel in their energy mix and are thus critical markets for handling equipment. Both old and new technologies are expected to improve with the increase in demand for greater fuel mobility, automation, and efficient consumption & supply monitoring.

Conventional handling equipment are expected to witness continuous growth over the forecast period owing to strong power generation demand over the forecast period. However, novel handling equipment are projected to witness a faster growth due to high technological advancement and increasing efficiency requirements.

Environmental concerns and stringent regulations, particularly in the developed regions such as North America and Europe, have clamped down the industry over the recent past. Government policies and standards have prompted power generation companies to shift away from coal and towards cleaner fuels such as natural gas. Such a shift in trend is anticipated to hamper the coal handling equipment market over the forecast period.

Alternative fuel sources such as natural gas have witnessed a brisk growth in the recent past, and thus, they are expected to negatively impact the coal handling equipment market. Government initiatives to promote renewable power generation sources such as wind solar and hydro electricity are projected to critically impact the industry in future.

Reducing demand in major consumption centers such as China is expected to hamper the regional as well as the global markets. Chinese initiatives to reduce greenhouse gas emissions as well as decrease imports to safeguard domestic coal mining operations have resulted in over capacity in the recent past. Such a step had a cascading effect on the global coal market and in turn on the coal handling equipment market.

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Technological advances have resulted in reduction in alternative fuel costs and increased their availability. Shale gas in North America has negatively impacted the regional market. Government initiatives, subsidies, and financial incentives in the European regions for renewable energy have resulted in a shift away from coal as the dominant power generation source. Such trends highlight the restraints that are expected to hamper the regional as well as global industry over the forecast period.

Smoothening handling operations with an aim to minimize wastage, diminish cost, and reduce handling time, promise ample opportunities for the market participants. R&D initiatives to develop equipment that increase efficiency offer abundant growth and development opportunities.

The industry can be broadly classified into material handling and crushing equipment. Key application segments include surface mining, crushing, pulverizing & screening, dust collection, underground mining, and drills & breakers.

Developing economies such as China and India are expected to witness a brisk demand as coal accounts for a major share in their energy mix. Growing population, rapid industrialization, and urbanization have resulted in a steep energy demand. Government policies to provide electricity to all and encourage industrialization have led to strong electricity demand from domestic, commercial, and industrial sectors. These developing economies are presumed to lead the regional as well as global market over the forecast period.

Developed regions are characterized by stringent environmental regulations and standards that govern greenhouse gas emissions. Policies and standards set by the governments as well as other agencies encourage a shift away from conventional sources and towards cleaner renewable energy sources. Such a trend is anticipated to hamper regional market growth in North America and Europe.

About Grand View Research:
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