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.
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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.
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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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