Demand for bulk material handling equipment has been predicted to grow, with mining and manufacturing processes driving it.
A report by Frost & Sullivan suggested that developing economies in particular hold great potential for the market, while the expansion of the thermal power sector is expected to mean use of coal handling equipment rises.
One research analyst at the firm explained that the use of coal in utility power stations is likely to keep demand high.
"Huge proportions of the mining industry’s operations, such as coal mining, heavily depend on the use of specialised bulk material handling equipment," she said.
The study also noted that the machinery being used tends to be "smaller yet smarter", with touch-screen interfaces replacing bulky controls.
Frost & Sullivan has more than 35 offices around the world and currently employs over 1,800 industry consultants and market research analysts and economists, having been established in 1961.
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