Functional equipment featuring the latest technology is forecast to be the main driver for the world cement equipment market, being projected to account for over US$3 billion in 2024, according to CW Research’s World Cement Equipment Market and Forecast Report 2020.
The report asserts that automation equipment will become more widely adapted and grow in popularity – even in emerging economies – as companies strive for higher efficiencies.
As environmental legislations become increasingly stringent, higher requirements for dust and gas emissions at a plant level are expected, which will generate the need for more efficient and technological solutions.
“Looking at all the cement equipment segments, we can observe that high-technology functional equipment will be the main driver for the market in the future.
“Sub-segments such as automation and control equipment, along with environmental equipment, will be growing in market size, despite fewer capacity additions,” said Prashant Singh, associate director, CW Group.
The focus on environmentally sensitive equipment is said to be a worldwide trend. For example, Chinese Original Equipment Manufacturers, including Sinoma and CNBM, are also exploring this sector and investing their efforts on becoming more environmentally friendly as they seek new markets not only in China, but in advanced economies.
The report also mentioned that this increasing focus on reducing carbon emissions has been reflected in new technologies, process and product optimisation in the cement sector.