A bucket elevator is also known as a bucket conveyor. It is a machine that is used for moving bulk materials vertically in a flow. It consists of an endless chain drive, to which metallic buckets are fixed. The elevator is driven by a gear motor immersed in oil. Bucket elevators are made of stainless steel. They are available in different sizes and shapes. Furthermore, bucket elevators are suitable in all types of weather conditions. They offer various benefits such as ease of cleaning, low maintenance, ease of installation, and high load capacity. In addition, bucket elevators are easy to use and are very popular, especially in the processing industry for bulk material handling. All these factors are expected to boost demand for bucket elevator across the world.
The bucket elevator market is driven by various factors such as rise in industrialization and urbanization and increase in demand for bucket elevators from industries such as food, agriculture, pulp & paper, lime, cement, mining, power, steel, and others. Moreover, rapid innovation in bucket elevators is expected to accelerate the global bucket elevator market in different regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America. However, there are several local players in the market that manufacture low-quality bucket elevators at low prices. As a result, major manufacturers face stiff competition from these local players and lose out on the price competency factor. This is expected to hamper the growth of the bucket elevator market during the forecast period.
The global bucket elevator market can be segmented based on type, capacity, application, and geography. Based on type, the bucket elevator market can be classified into centrifugal discharge elevators, continuous discharge elevators, and positive discharge elevators. Positive discharge elevators are used to elevate commodities such as popcorn, candy, potato, and others finished goods. Continuous bucket elevators are designed to handle friable materials in order to minimize product damage or degradation. In terms of capacity, the market can be classified into above 350 cubic feet per hour, 351– 830 cubic feet per hour, 831 – 2000 cubic feet per hour, 2001 – 2800 cubic feet per hour, and above 2801 cubic feet per hour. Based on application, the market has been segmented into food industry, agriculture industry, pulp and paper mills, construction and other mining industries, power plant, steel production plant, and others.
Based on geography, the global bucket elevator market has been segmented into Asia Pacific, North America, Europe, Middle East & Africa, and South America. North America is expected to hold a major bucket elevator market share, followed by Europe. Expansion in the economy and penetration of new technologies are expected to drive the bucket elevator market in North America and Europe. The market in Asia Pacific is anticipated to expand at a high growth rate during the forecast period. The growing population in GCC countries is expected to increase food consumption. This is expected to lead to changes in consumption patterns and provide sustainable growth opportunities for the market in Middle East & Africa.
Major players operating in the global bucket elevator market are Sukup Manufacturing Co., Chaoyang Heavy Machinery Manufacturing Co., Mahindra Tsubaki Conveyor Systems, Satake Corporation, KWS Manufacturing Company, Ltd., FEECO International, Mark & Wedell, Beumer Group, Motridal, FLENDER AG, Motridal, NERAK systems, Gough Engineering, Fabcon Machines Pvt. Ltd., and others. In the current market situation, companies face a high level of competition. In order to gain a competitive edge in the industry, market players are dedicated to product innovation and new product offering. This strategy is estimated to help them stay competitive during the forecasted period.
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