The new sinter plant market research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210128005841/en/
Technavio has announced its latest market research report titled Global Sinter Plant Market 2021-2025 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the sinter plant market.
"One of the primary growth drivers for this market is the improvement in sinter technology," says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the sinter plant market size to grow by USD 779.78 million during the period 2021-2025.
Sinter Plant Market Segment Highlights for 2020
The sinter plant market is expected to post a year-over-year growth rate of 7.30%.
Based on the product, the MHMG system saw maximum growth in 2020. Material handling, mixing, and granulation (MHMG) system is the fastest-growing product segment of the sinter plant market.
The growth of the market segment will be significant during the forecast period.
55% of the growth will originate from the APAC region.
The rising requirement for steel is one of the prime factors that will facilitate the sinter plant market growth in APAC over the forecast period.
India and China are the key markets for sinter plants in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
Related Reports on Industrials Include:
Global In-Plant Logistics Market for Automobile OEM Industry - The in-plant logistics market for the automobile OEM industry is segmented by service (in-plant warehousing, line-side feeding, packing, and others) and geography (APAC, Europe, North America, South America, and MEA). Click Here to Get an Exclusive Free Sample Report
Global Aircraft Engine MRO Market - The aircraft engine MRO market is segmented by type (turbofan and turbojet and turboprop), geography (APAC, Europe, MEA, North America, and South America), and key vendors. Click Here to Get an Exclusive Free Sample Report
The sinter plant market size is expected to accelerate at a CAGR of over 9% during the forecast period.
The sinter plant market is segmented by product (MHMG system, Sinter machine, WGR system, and SCS system) and geography (APAC, Europe, North America, MEA, and South America).
The market is fragmented due to the presence of many established vendors holding significant market share.
The research report offers information on several market vendors, including China Metallurgical Engineering & Project Corp., Gillanders Arbuthnot and Co. Ltd., IMASA INGENIERIA Y PROYECTOS SA, Kanikavan Shargh Engineering Co., Larsen and Toubro Ltd., McNally Bharat Engineering Co. Ltd., MECON Ltd., Metallurgical Corp. of China Ltd., Metso Corp., and Shandong Province Metallurgical Engineering Co. Ltd.
Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210128005841/en/