LOS ANGELES and PUNE, India, Feb. 18, 2020 /PRNewswire/ -- Rising Technological Advancements in material handling is expected to propel the growth of the Global Apron Feeder Market at a CAGR of 4.2% during the forecast period, 2019-2026
The apron feeder equipment includes the head shaft, tail, flights, frame, drive, and undercarriage components. Mostly, apron feeders are utilized to extract and feeding lumpy, massive, abrasive and heavy ores in different conditions which include sticky, frozen, and wet operations. In recent years, the design of apron feeders has evolved owing to the changing nature of its target industries such as mining and cement. Moreover, the technological advancement in material handling equipment is anticipated to fuel market growth. Furthermore, the growing government initiatives and investment for the infrastructure and commercial site development in nations such as China, Egypt, and India are expected to support market growth as such projects require Apron feeders. For instance, in August 2016, the government of Egypt ordered apron feeders and crushers for its EI Arish cement plant from Hazemag Company. Despite the drivers, the high initial set-up cost and the fluctuating trends in the mining industries owing to the environmental regulations may hamper the growth of the market.
Global Apron Feeder Market, By Product Type (Small Apron Feeder, Large Apron Feeder), By Geography (North America, South America, Europe, Asia Pacific, Middle East & Africa), By Industry Trends, Estimation & Forecast, 2019 – 2026. Know more about this Report: https://www.esticastresearch.com/report/apron-feeder-market/
The Global Apron Feeder Market Has Been Classified into Product Type.
Asia Pacific region is expected to dominate the global apron feeder market owing to the growth in the mining sector and favorable government initiatives for public infrastructure construction. According to the data published by the India Brand Equity Foundation (IBEF), the metals and mining industry has overseen strong growth in past years. In addition to this, in FY19 SAE, the Gross Value Added (GVA) from quarrying and mining reached about USD 51.31 billion in India.
Prominent companies operating in the apron feeder industry include Terex Corp., Thyssenkrupp AG, FLSmidth A/S, Mining Machinery Developments, Sandvik AB, Mesto Corp., McLanahan Corp., Williams Patent Crusher and Pulverizer Co., Inc., and N.M. Heilig B.V. The key players in the global apron feeder market are involved in developing and launching efficient and high-quality products to strengthen their customer base. In addition, strategies such as collaboration, acquisitions, and mergers are also undertaken by prominent companies to increase its foothold in the market. For instance, in May 2015, Terex Corporation acquired Continental Biomass Industries Inc. (CBI) under its business segment Terex Material Processing. With this acquisition, the company expanded its Terex Environmental Equipment (TEE) product portfolio.
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