Ever-increasing Coal-based Power Generation and Coal Mining Activities Driving Growth of Market

Rockville, June 22, 2023 (GLOBE NEWSWIRE) -- The recent research analysis by Fact.MR on the global market global coal handling system provides a thorough overview of the industry’s product, end-user, and region categories. It also offers comprehensive details on important players and the crucial tactics they are turning to for gaining an upper hand over their competitors.

Fact.MR – A Market Research and Competitive Intelligence Provider: According to Fact.MR, a provider of market research and competitive intelligence, the global coal handling system market is projected to achieve a valuation of US$ 8.09 billion by 2033, expanding at a steady compound annual growth rate (CAGR) of 4.5% between 2023 and 2033.

Coal handling systems, also known as coal handling plants (CHPs), are a set of equipment and processes designed to handle and manage coal from its arrival at a power plant, industrial facility, or coal mine until it is used or stored. The primary goal of a coal handling system is to ensure the efficient, safe, and uninterrupted supply of coal for various applications.

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Incorporation of automation and control systems into coal handling equipment helps increase operational effectiveness, minimize human intervention, and increase safety. This fuels the demand for sophisticated and cutting-edge coal handling technologies.

The market has expanded as a result of mounting worries about climate change and rising electricity demand. Due to their capacity to quickly handle huge amounts of coal and its lower operating costs when compared to other coal handling system equipment such as reclaimers, stackers are anticipated to dominate the global market over the next ten years.

Key Takeaways from Market Study 

• The global coal handling system market is valued at US$ 5.21 billion in 2023.
• Sales of coal handling systems are projected to increase at a CAGR of 4.5% through 2033.
• The market is expected to reach US$ 8.09 billion by the end of 2033.
• By the end of 2033, the United Kingdom is expected to witness steady growth in the demand for coal handling systems, reaching a value of US$ 1.96 billion.
• The market in the United States is projected to expand at 4.7% CAGR over the decade.
  

“Conveyors widely preferred for coal transportation due the safety and less spillage aspects,” says a Fact.MR analyst.

Market Competition

Contracts and agreements are typically used to sell coal handling systems. Due to the sustainable qualities of thermal power plants, market players are already planning their strategies to work together. Through a variety of procedures, these plants turn coal into energy, which reduces air pollution. They eliminate the carbon dioxide, sulfur dioxide, and ash components of coal.

Sale of coal handling systems is mostly carried out through contracts and agreements. Bigger market players are now strategizing their efforts to collaborate with thermal power plants because of the sustainable attributes of the latter. These plants convert coal into electricity through multiple processes, which helps in reducing air pollution. They exterminate ash content, sulfur dioxide, and carbon dioxide in coal.

• In December 2022, Komatsu announced that it had acquired the German company Gelsenkirchen GGH Group to grow its underground mining equipment division. The company's presence in the mining industries of Europe, South Africa, and India is expected to grow as a result of this acquisition.
• Thyssenkrupp AG entered into a contract with Doosan Power Systems India to provide coal handling systems for two major thermal projects in Uttar Pradesh, with orders totaling US$ 115 million.
• Metso Corporation extended its agreement with Sever Minerals in a bid to strengthen its presence in Russia.
• Heyl & Patterson Inc., which provides thermal processing and bulk material handling systems, signed an exclusive partnership agreement with BHJD Mining Engineering and Technology based in Beijing, an equipment procurement and construction (EPC) firm.

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Key Players with a Significant Market Share

• Thyssenkrupp AG
• Famur SA
• FLSmidth Co
• A/S and Metso Corporation
  

Coal Handling System Market Segmentation by Category

• By Application:
  • Coal Mines
  • Others
  • Sea Ports
  • Thermal Power Plants
    
• By Region:
  • APEJ
  • CIS and Russia
  • Europe
  • Japan
  • Latin America
  • MEA
  • North America
    
• By Product:
  • Conveyors
  • Feeders
  • Others
  • Reclaimers
  • Ship Loaders & Unloaders
  • Stackers
  • Stackers cum Reclaimers
  • Wagon Tripplers & Wagon Loaders

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More Valuable Insights on Offer 

Fact.MR, in its new offering, presents an unbiased analysis of the global coal handling system market, presenting historical demand data from 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights into the market based on application (coal mines, seaports, thermal power plants) and product (conveyors, feeders, reclaimers, ship loaders & unloaders, stackers, stackers cum reclaimers, wagon tipplers & wagon loaders), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

What differences can the coal handling system report make on the revenue impacts and strategies of businesses?

Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the Coal handling system and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:

• Attractiveness quotient of emerging product/technology types in various products in the Coal handling system
• Micro-economics factors that may hamper the prospects of some of the key segments
• Recent spate of research and development (R&D) funding on key Coal handling system
• New business models paving way for disruptions in demand dynamic of key segments
• Regional markets that will be future engine of growth and the industry trends that will support these markets
  

Check out more related studies published by Fact.MR Research:

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Conveyor System Market Outlook: The global conveyor system market stands at a valuation of US$ 14.14 billion in 2023 and is forecasted to reach US$ 20.53 billion by the end of 2033. Worldwide demand for conveyor systems is set to increase at a CAGR of 3.8% from 2033 to 2033.

Vacuum Loaders Market Outlook: In 2023, the global vacuum loaders market is valued at US$ 390 million and is expected to reach a market size of US$ 640 million by 2033. Global demand for vacuum loaders is forecasted to increase at a CAGR of 5.1% from 2023 to 2033.

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