Press Release

Bucket Elevators Market to Gain Traction; Advancements in Extraction Technologies to Positively Impact the Market

The global bucket elevator market size is projected to reach USD 1,287.1 million by 2026, exhibiting a CAGR of 5.7% during the forecast period. Steady growth in the construction industry to be the key growth driver for this market, according to the new Fortune Business Insights™ report, titled “Bucket Elevator Market Size, Share & Industry Analysis, By Type (Centrifugal and Continuous), By Industry (Cement, Food & Beverages, Chemical, Power & Energy, Paper & Pulp, Others), and Regional Forecast, 2019-2026”.

A report produced under a joint study conducted by Global Construction Perspectives and Oxford Economics stated that the construction industry worldwide will grow by 85% through 2030, hitting USD 15.5 trillion in terms of output value. China, India, and the US will account for nearly 57% of this rise, the report estimates. On average, the global construction industry is slated to grow at 3.9% annually till 2030, overtaking the world GDP growth rate by one percentage point. In this scenario, the demand for bucket elevators is likely to go up sharply as these machines are vital in the vertical movement of materials at construction sites.

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List of Key Companies Covered in the Report:

  • Zuther GmbH (Headquarter: – Germany)
  • KWS Manufacturing Company, Ltd. (Headquarter: – United States)
  • Meyer Industries (Headquarter: – United States)
  • FEECO International Inc. (Headquarter: – USA)
  • AGI (Headquarter: – Canada)
  • SKANDIA Elevator AB (Headquarter: – Sweden)
  • Sweet Manufacturing Company (Headquarter: – USA)
  • BEUMER Group. (Headquarter: – Germany)

As per the bucket elevator market report, the value of this market stood at USD 827.6 million in 2018. The report additionally provides the following information:

  • Detailed study of the factors driving the market;
  • Thorough analysis of the roadblocks facing the market;
  • In-depth research into the various market segments;
  • Exhaustive assessment of the regional prospects of the market; and
  • Comprehensive evaluation of the competitive dynamics shaping the market.

Competitive Landscape

Investment in R&D by Key Players to Heat up Competition

Major competitors in this market are singularly focused on enhancing their research and development capacity, according to the bucket elevators market report. This is enabling players to not just launch new products and diversify their offerings, but is also consolidating their position in the market.

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Industry Developments:

  • August 2019: The Spanish silos manufacturer Silos Córdoba launched the ECH 600 and ECH 800, the company’s new heavy duty bucket elevators, for grain handling. The high-strength elevators are capable for working round the clock and under very difficult conditions. They are easy to maintain and are made from the best quality materials.
  • May 2018: Germany-based BEUMER Group inaugurated the BEUMER Belt Position Monitoring System, its contactless solution for high-capacity bucket elevator handling. The system is engineered to calculate the distance between passing buckets using sensor technology.

Purchase Full Report for Exclusive Bucket Elevators Market Growth Forecast – https://www.fortunebusinessinsights.com/checkout-page/102580

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