At 5.6% CAGR, the Europe Bucket Elevator Market is projected to be worth US$ 309.75 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe bucket elevator market was valued at US$ 223.61 million in 2022 and is expected to reach US$ 309.75 million by 2028, registering a CAGR of 5.6% from 2022 to 2028. Surging need for food grains and seeds and increased use of bucket elevator in cement plants with growth in infrastructure projects are the critical factors attributed to the Europe bucket elevator market expansion.

According to estimates by the US Department of Agriculture, Russia’s wheat production reached 91.0 million metric tons in 2022–2023, reporting an annual increase of 21% from the previous year. A continuous rise in crop and grain production is likely to offer several opportunities to companies offering bucket elevator for grain storage facilities and the food processing industry. Various government organizations also require bucket elevator for efficiently storing food grains in silos or for packaging and distributing the same. In December 2022, Ryson International, Inc launched a new range of bulk bucket elevator. The elevator were made available in C and Z configurations, and three different bucket sizes with capacities of 300, 700, and 1,800 cubic feet an hour. The company also offered powder-coated, or stainless-steel finished buckets for extending the range of applications. Per the company, the new offerings are built-to-order, customizable, and relatively easy to install.

On the contrary, difficulties in maintenance and availability of alternative conveyors hurdles the growth of Europe bucket elevator market.

Based on type, the Europe bucket elevator market is segmented into centrifugal discharge elevator, continuous discharge elevator, positive discharge elevator. The centrifugal discharge elevator segment held 58.6% share of Europe bucket elevator market in 2022, amassing US$ 131.06 million. It is projected to garner US$ 186.84 million by 2028 to expand at 6.1% CAGR during 2022–2028.

Based on capacity, the Europe bucket elevator market is segmented as upto 350 cubic feet per hour, 351–830 cubic feet per hour, 2001 – 2800 cubic feet per hour, 831 – 2000 cubic feet per hour, above 2801 cubic feet per hour. The 350 cubic feet per hour segment held 35.6% share of Europe bucket elevator market in 2022, amassing US$ 79.58 million. It is projected to garner US$ 116.44 million by 2028 to expand at 6.5% CAGR during 2022–2028.

Based on industry, the Europe bucket elevator market is segmented into construction, agriculture, mining, fertilizers & chemicals, energy and utilities, paper and pulp, others. The construction segment held 34.7% share of Europe bucket elevator market in 2022, amassing US$ 77.66 million. It is projected to garner US$ 112.50 million by 2028 to expand at 6.4% CAGR during 2022–2028.  

Based on country, the Europe bucket elevator market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe.  Our regional analysis states that Germany captured 28.6% share of Europe bucket elevator market in 2022. It was assessed at US$ 63.87 million in 2022 and is likely to hit US$ 99.13 million by 2028, exhibiting a CAGR of 7.6% during the forecast period.  

Key players profiles in  the Europe bucket elevator market report AGCO Corp; BEUMER Group GmbH & Co KG; Gough & Co (Engineering) Ltd; Motridal SpA; Ryson International Inc; Satake Corp; and Skandia Elevator AB, among others.

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