| A04124 | Pages: 307 | Jan 2022 | 13607 Views | ||
| Author(s) : Amol Phoke, Priyanka Khandelwal| | Tables: 115 | Charts: 63 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Crushing, Screening, And Mineral Processing Equipment Market
Request Now !The global crushing, screening, and mineral processing equipment market size was $18,980.9 million in 2020, and is expected to reach $32,103.4 million by 2030, growing at a CAGR of 5.2% from 2021 to 2030.
The COVID 19 outbreak has affected the growth of the industry owing to the lockdown measure in the countries and delay in manufacturing and production of crushing, screening, and mineral processing equipment used in construction, foundries, smelters, and mining applications.
Crushing involves breaking of hard materials into small pieces by pressing, pounding, or grinding. Crushing equipment are utilized to change the size of hard waste materials and to recycle them easily. They are also used to differentiate between pieces of different compositions. Screening is primarily used to give a final separation to coarse materials. It is used as a final process for the separation of the different-sized material. Crushers and screeners are categorized into three types—cone crushers, horizontal shaft impact crushers, and jaw crushers. Mineral processing equipment is segmented into four types—grinding machine, spiral classifiers, magnetic separation, and spiral dewaters. Crushing, screening and mineral processing equipment mainly finds application in construction and plant modification, foundries & smelters, and mining.
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A limited availability of fossil fuels, and strict norms by government on reducing carbon emission, increases the need for cost efficient, and energy efficient renewable energy source such as solar energy, which fuels the growth of the market. An increase in urbanization and industrialization in emerging countries such as Germany, France, and the U.S. propels the crushing, screening, and mineral processing equipment market growth globally. For instance, degree of urbanization in the U.S. increased by 0.4% from 2017 to 2019.
In addition, more than 50% of all urban growth is anticipated to take place in emerging economies such as Asia and Africa, for the next 20 years. Rise in industrialization and urbanization globally is one of the key factors that propel the market growth. Over past few years, there has been a significant growth in population, leading to augmentation in consumption of minerals. Besides, rise in household incomes has also backed up the surge in demand for minerals, which positively contributes toward the growth of the market.
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Increase in mining related activities in various regions such as Asia-Pacific & Europe, and rise in demand for crushing, screening, and mineral processing equipment for application such as metal mining, coal mining, and mineral mining, fuels the growth of the crushing, screening, and mineral processing equipment market. A rise in urban population, which in turn, increases the demand for natural resources, and oil, which is expected to surge the demand for mineral processing equipment, fueling the growth of the market. For instance, by 2030, almost 590 million people are expected to shift to urban locations globally.
Major players such as AB Volvo Group, Deere & Company and others are adopting collaboration, and product launch as key development strategy to improve the geographical presence of the crushing, screening, and mineral processing equipment products. For instance, in March 2019, Sandvik AB appointed Bergerat Monnoyeur (BM) as its distributor for mobile crushers and screens in France. Through this move Sandvik AB aims to expand its presence in France.
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However, fluctuation in raw material prices and strict government regulations and tariffs, are anticipated to hamper the growth of the global market. Furthermore, increase in demand for technologically advanced mining equipment is anticipated to provide lucrative growth of the global crushing, screening, and mineral processing equipment market opportunities.
The global crushing, screening, and mineral processing equipment market is segmented into type, application, and mobility. By type, the market is divided into crushing & screening and mineral processing equipment. By application, it is classified into construction & plant modification, mining, foundries & smelters, and others. On the basis of mobility, the market is categorized into stationary, portable, and mobile. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to hold the highest market share during the forecast period.
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The key players profiled in the market report include Terex Corporation, Sandvik AB, Astec Industries, Inc., Kleemann GMBH, Mccloskey International, Metso Corporation, Screen Machine Industries, Caterpillar Inc, Eagle Crusher, and Rubble Master.
Major players are adopting business expansion and product launch as key developmental strategies to improve the product portfolio of the global crushing, screening, and mineral processing equipment market. For instance, in June 2021, Kleemann GmbH launched a new mobicone MCO 90 EVO2, crusher to the market. It is used for mining, and quarrying companies. It has feeding capacity of 270 t/h, and having high strength, and high operational capacity. It is equipped with intelligent, and very effective overload systems.
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Key Benefits For Stakeholders
Key Market Segments
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This section provides opinions of the top-level CXOs in the crushing, screening and mineral processing equipment market. In accordance to several interviews conducted, crushing, screening and mineral processing equipment are majorly used in construction and plant modification applications.
The mobile crushers & screeners market has witnessed a notable growth since the past few years. Rapid urbanization in developing countries such as India, China, and Indonesia results in an increase in demand for crushers & screening equipment. The major application for crushers & screeners market is construction and plant modification. Jaw crushers are generally used as a primary crusher in a crushing circuit. Leading companies, such as Terex Corporation, Komatsu Ltd., Sandvik AB and others, have witnessed significant market growth in the past few years. These companies have launched innovative products, such as QA450 triple deck screen, BR580JG-1 mobile crushers, and others, which leads to an increase in their overall consumer base. Moreover, other players operating in the market such as Metso Corporation, Lippmann Milwaukee, Inc., Astec Industries, and others are expected to strengthen their product line with higher technology products, such as 3 deck screen plant, to meet the rise in requirements of the consumers.
As per the CXOs, infrastructure industry has the biggest potential for investment. There is also positive trend in the purchase of equipment with more small players entering the fragmented aggregate industry. Market is robust and is expected to grow in the next couple of years. Latest technology offering combined with total solutions provider facilitate progressive growth of the key manufacturers. As per the opinion received from CXO’s, price is one of the major criteria toward purchase of equipment. Specific quality requirements, time bound projects, and influx of multi-national organizations in the industry are expected to change the trend toward more technologically advanced high quality equipment.
Product customization is one of the key drivers in product development strategy in the crushing, screening and mineral processing equipment industry. Major players in the market focus on the development and launch of high-quality products, based on the needs and preferences of consumers and to keep up with the recent technological advancements, which can increase production capacity and are cost efficient. Moreover, innovative marketing and positioning strategies of players have helped to increase the overall market size. For example, customer driven product development has been the main philosophy of Sandvik, which is one of the key player operating in this industry. The entire organization is customer focused and all the current and future pipeline products of the company are based on various customer needs and feedback received from them. In addition, the government plans to take strict action toward various pollution control norms. Manufactured sand other than river sand is expected to be the area of emphasis for environmental reasons.
A. The Global crushing, screening, and mineral processing equipment market size was valued at $18,980.9 million in 2020.
A. Based on type, crushing & screening segment holds the maximum market share of the Global crushing, screening, and mineral processing equipment market in 2020.
A. The Global crushing, screening, and mineral processing equipment market is projected to reach $32,103.4 million by 2030.
A. The urbanization and growing investment in the road and infrastructure sector are the key trends in the Global crushing, screening, and mineral processing equipment market.
A. The product launch is key growth strategy of Global crushing, screening, and mineral processing equipment industry players.
A. The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
A. High fluctuation in raw material cost are the effecting factors for Global crushing, screening, and mineral processing equipment market.
A. The application of crushing, screening, and mineral processing equipment system includes construction & plant modification, mining, foundries & smelters, and others.
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