Bucket Elevator Market Share, Growth and Trends Report 2028

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Bucket Elevator Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Centrifugal Discharge Elevators, Continuous Discharge Elevators, and Positive Discharge Elevators), Capacity (Upto 350 Cubic Feet Per Hour, 351–830 Cubic Feet Per Hour, 2001–2800 Cubic Feet Per Hour, 831–2000 Cubic Feet Per Hour, and Above 2801 Cubic Feet Per Hour), and Industry (Construction, Agriculture, Mining, Fertilizers and Chemicals, Energy and Utilities, Paper and Pulp, and Others)

Publication Month: Feb 2023 | Report Code: TIPRE00011122 | No. of Pages: 168 | Category: Electronics and Semiconductor | Status: Published

The bucket elevator market is projected to reach US$ 1,571.40 million by 2028 from US$ 1,055.12 million in 2022; it is expected to grow at a CAGR of 6.9% during 2022–2028.

Bucket elevators are energy-efficient and space-efficient equipment used to transport products in large and small quantities. They are available in a variety of types, designs, and styles for different applications. Bucket elevators are mainly used to transfer material from ground level to places at height. They are built with a cotton or rubber belt that runs on one drive pulley located at the top, while the other end is the driven pulley which is at the bottom inside a fabricated casing. Centrifugal bucket elevators are the most common type of elevators used in many industries to vertically convey powder bulk solids, such as grains, sugar, sand, and minerals. Their use is common in the cement, glass, mining, power generation, biomass, paper, and construction industries, as well as in large oil mills and other processing industries.

Bucket Elevator Market - Strategic Insights

Report Coverage - Bucket Elevator Market
Report CoverageDetails
Market Size Value inUS$ 1,055.12 million in 2022
Market Size Value byUS$ 1,571.40 million by 2028
Growth rateCAGR of 6.9% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages168
No. of Tables88
No. of Charts & Figures87
Historical data availableYes
Segments coveredType, Capacity, and Industry
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Impact of COVID-19 Pandemic on Bucket Elevator Market Growth

The COVID-19 pandemic dramatically impacted the world economy during its peak in 2020. The crisis hampered business activities in various industries. The outbreak disrupted several industries, such as construction, food, beverage, chemical, and mining. As lockdown prevailed in most countries, construction projects were temporarily halted, forcing contractors to change the way they work overnight. The outbreak created significant disruptions in the construction sector. A sharp decline in international trade negatively impacted the growth of the global economy. Factory and production shutdowns, trade bans, disrupted supply chains and procurement management activities, labor scarcity, and cross-border movement restrictions to combat the disease spread negatively impacted the working of companies worldwide. The adverse pandemic impact on several industries limited the growth of the bucket elevator market. However, industries have shown significant growth with ease in restrictions and the reopening of factories in 2021. They are now increasingly focusing on enhancing bandwidth, compatibility, and efficiency through technology adoption and investments. Although the global bucket elevator market was adversely impacted by the COVID-19 pandemic in 2020, it has achieved a strong recovery.

Lucrative Regions for Bucket Elevator Market Growth

Lucrative Regions for Bucket Elevator Market Growth

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Market Insights – Bucket Elevator Market

The surge in construction work across the residential, commercial, and other sectors has boosted the growth of the cement industry. Government bodies are increasingly emphasizing on supporting construction and infrastructural developments. Cement manufacturers are among the largest customers of bucket elevator market players. They have been upgrading their plants for coping with the rise in demand for cement, which has been boosting the installation of bucket elevators. In October 2022, MDG America was selected to supply Drake Cement’s plant located in Paulden, Arizona, US, with four high-quality chain bucket elevators. In March 2021, UltraTech Cement Limited chose AUMUND India to supply a comprehensive equipment package that included 46 belt bucket elevators. The contract included the supply of critical kiln feed bucket elevators with heights up to 157 m, raw material handling bucket elevators, clinker and cement handling bucket elevators (various sizes), and roller press recirculation bucket elevators with capacities up to 2,200 tons per hour (tph). Hence, the growing adoption of bucket elevators in the cement industry boosts the bucket elevator market growth.

Type-Based Insights

The type of bucket elevator chosen depends on the application it is intended to serve. It is also chosen to support the most efficient process flow. The bucket elevator market, by type, is segmented into centrifugal discharge elevators, continuous discharge elevators, and positive discharge elevators. The centrifugal discharge elevators segment accounted for the largest market share in 2021. It is also anticipated to register the fastest CAGR during the forecast period.

The bucket elevator market is segmented on the basis of type, capacity, industry, and geography. Based on type, the market is segmented into centrifugal discharge elevators, continuous discharge elevators, and positive discharge elevators. Based on capacity, the bucket elevator market is divided into 350–830 cubic feet per hour, 2001–2800 cubic feet per hour, 831–2000 cubic feet per hour, above 2801 cubic feet per hour, and below 350 cubic feet per hour. By industry, the market is segmented into construction, agriculture, mining, food, energy and utilities, paper and pulp, and others. In terms of geography, the bucket elevator market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). BEUMER Group GmbH & Co KG, FEECO International Inc, Gough & Co (Engineering) Ltd, KWS Manufacturing Co Ltd, Motridal SpA, Skandia Elevator AB, Sukup Manufacturing Co, Satake Corp, Ryson International Inc, and AGCO Corp are among the key bucket elevator market players.

Bucket elevator market players mainly focus on product launches and partnerships to create customer value.

  • In December 2022, Ryson International, Inc., launched a new range of bulk elevators, designed to transport a variety of bulk materials. Ryson’s new bulk elevators combine vertical and horizontal transportation. The enclosed elevators featured overlapping pivoting buckets to help prevent product spillage and mitigate foreign debris.
  • In September 2022, Muller Beltex BV, V.A.V. Aandrijvingen BV, and Bechtel GmbH announced a strategic alliance to better position themselves in the market, and to provide their customers with materials, knowledge, and service in a better and more efficient way.

Frequently Asked Questions

Growth in infrastructure projects promoting application of bucket elevators in cement plants augments the growth of the bucket elevators market.
Growing demand of food grains and seeds is creating growth opportunity for the market players operating into the market.
North America dominated the bucket elevators market in 2021. In the past decade, logistics in North America have seen tremendous growth, owing to factors such favorable measures by governments, and investments by public and private authorities promote the growth of different industries in the region. Cement manufacturers, fertilizer manufacturers, grain processing plants, and mining sites are a few of the major end users of bucket elevators in North American countries. A rise in construction activities across these countries is a key contributor to the demand for bucket elevators, as these systems are used in the vertical transportation of sand, cement, and bricks in the construction industry.
Integration of predictive maintenance solutions is one of the major trends in the bucket elevators market.
BEUMER Group GmbH & Co KG, FEECO International Inc, Gough & Co (Engineering) Ltd, KWS Manufacturing Co Ltd, Motridal SpA, Skandia Elevator AB, Sukup Manufacturing Co, Satake Corp, Ryson International Inc, and AGCO Corp are the leading companies in the bucket elevators market.

The List of Companies - Bucket Elevator Market

  1. BEUMER Group GmbH & Co KG
  2. FEECO International Inc
  3. Gough & Co (Engineering) Ltd
  4. KWS Manufacturing Co Ltd
  5. Motridal SpA
  6. Skandia Elevator AB
  7. Sukup Manufacturing Co
  8. Satake Corp
  9. Ryson International Inc
  10. AGCO Corp
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global bucket elevators market
  • Highlights key business priorities to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global bucket elevators market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
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