Portland,OR, Feb. 20, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ash handling system market was estimated at $3.36 billion in 2021 and is expected to hit $4.78 billion by 2031, registering a CAGR of 3.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.36 Billion |
| Market Size in 2031 | $4.78 Billion |
| CAGR | 3.4% |
| No. of Pages in Report | 188 |
| Segments Covered | System Type, End-user Industry, Ash Type, and Region. |
| Drivers | Growth in the steel industry |
| Increasing demand for cement from the construction industry | |
| Restraints | High maintenance cost of ash handling system |
| Gradual shift toward more environment-friendly processes | |
| Opportunities | Rise in the number of coal-fired power plants |
Covid-19 scenario-
- The end-users of ash handling systems i.e., the cement and steel industries witnessed a sharp decline in demand, which impacted the market negatively, especially during the initial period of the pandemic.
- However, the market started recovering by the end of 2021.
The global ash handling system market is analyzed across system type, end-user industry, ash type, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By system type, the hydraulic system segment held the largest share in 2021, garnering nearly two-fifths of the global ash handling system market revenue, and is projected to maintain its dominance by 2031. The pneumatic system segment, on the other hand, would showcase the fastest CAGR of 3.7% during the forecast period.
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By end-user industry, the power plant segment contributed to more than two-thirds of the global ash handling system market share in 2021, and is projected to rule the roost by 2031. The cement manufacturing segment, on the other hand, would display the fastest CAGR of 4.0% throughout the forecast period.
By ash type, the fly ash segment accounted for the highest share in 2021, generating nearly three-fourths of the global ash handling system market revenue. The bottom ash segment, however, would portray the fastest CAGR of 3.7% during the forecast period.
By region, Asia-Pacific held the major share in 2021, garnering more than two-thirds of the global ash handling system market revenue. The LAMEA region, simultaneously, would showcase the fastest CAGR of 4.4% from 2022 to 2031. The other provinces studied through the report include North America and Europe.
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Top Players:
The key market players analyzed in the global ash handling system market report include Qingdao Sizhou Electric Power Equipment Co. Ltd., ANDRITZ, Nederman National Conveyors, Babcock & Wilcox Enterprises, Inc., United Conveyor Corporation, Macawber Beekay, McNally Bharat Engineering Co., Bevcon Wayors, ProcessBarron, and Schenck Process. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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