Bucket Elevator Market Share, Growth and Trends Report 2028

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)

  • Report Code : TIPRE00011122
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 168
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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 - 

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Bucket Elevator Market: Strategic Insights

bucket-elevator-market
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
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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

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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.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Capacity, and Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, UAE, UK, US

Frequently Asked Questions


What are reasons behind bucket elevators market growth?

Growth in infrastructure projects promoting application of bucket elevators in cement plants augments the growth of the bucket elevators market.

What are market opportunities for bucket elevators market?

Growing demand of food grains and seeds is creating growth opportunity for the market players operating into the market.

Which region to dominate the bucket elevators market in the forecast period?

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.

What is the future trend for bucket elevators market?

Integration of predictive maintenance solutions is one of the major trends in the bucket elevators market.

Who are the major vendors 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

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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