Rise in growth of the construction industry and rise in mining activities have boosted the growth of the global crushing, screening, and mineral processing equipment market.
PORTLAND, Ore., Feb. 16, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Crushing, Screening, and Mineral Processing Equipment Market by Type (Crushing & Screening Equipment, and Mineral Processing Equipment), Application (Construction & Plant Modification, Mining, Foundries & Smelters, and Others), and Mobility (Stationary, Portable, and Mobile): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global crushing, screening, and mineral processing equipment industry was pegged at $18.98 billion in 2010, and is estimated to reach $32.10 billion by 2030, growing at a CAGR of 5.2% from 2021 to 2030.
Drivers, restraints, and opportunities
Rise in growth of the construction industry, low transport cost of mobile equipment, rise in mining activities, and growth in urbanization due to surge in population have boosted the growth of the global crushing, screening, and mineral processing equipment market. However, rise in level of carbon emission and inadequate industry infrastructure hinder the market growth. On the contrary, surge in demand for technologically-advanced equipment and rise in government investments in the infrastructure sector are expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic negatively affected the market due to drastic reduction in mining activities in order to protect the safety of workers and employees.
- The prolonged lockdown and restriction on import-export of non-essential items disrupted the supply chain.
- However, the rise in vaccination drives and reduction in the number of Covid-19 patients is expected to get the market back on track.
The crushing & screening equipment segment to manifest the highest CAGR through 2030
By type, the crushing & screening equipment segment is estimated to register the highest CAGR of 5.7% during the forecast period. In addition, the segment dominated the market in terms of revenue, contributing to more than two-thirds of the global crushing, screening, and mineral processing equipment market in 2020, due to rise in coal mining activities in the region. The report includes analysis of the mineral processing equipment segment.
The construction & plant modification segment held the largest share
By application, the construction & plant modification segment held the largest share in 2020, contributing to nearly half of the global crushing, screening, and mineral processing equipment market, owing to rise in demand for construction equipment in developing countries. However, the mining segment is estimated to register the highest CAGR of 6.3% during the forecast period, owing to rise in mining activities and surge in demand for technologically-advanced solutions.
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Asia-Pacific, followed by LAMEA and North America, held the lion's share
By region, the global crushing, screening, and mineral processing equipment market across Asia-Pacific, followed by LAMEA and North America, held the largest share in 2020, accounting for nearly half of the market. In addition, the region is projected to portray the highest CAGR of 5.6% during the forecast period, due to implementation of demolition waste management programs.
Major market players
- Terex Corporation
- Sandvik AB
- Astec Industries, Inc.
- Kleemann GMBH
- Mccloskey International
- Metso Corporation
- Screen Machine Industries
- Caterpillar Inc.
- Eagle Crusher
- Rubble Master
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