According to a new report published by Allied Market Research titled,"Crushing, Screening and Mineral Processing Equipment Market by Type, Application, and Mobility: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the crushing, screening, and mineral processing equipment market accounted for $19121.2 in 2017, and is expected to reach $33,116.4 million by 2025, growing at a CAGR of 6.8% from 2017 to 2025. In 2017, Asia-Pacific dominated the global market, in terms of revenue, accounting for about 49.6% share of the global market, followed by LAMEA.
The crushing, screening, and mineral processing equipment are used for crushing stones or mineral ores, recycling construction waste, and producing aggregate in the mining and construction industries. It includes jaw crushers, grinding rolls, horizontal screens, impactor, cone crushers, graders, mixers, etc. It is majorly used in mining operations. Moreover, it is also used in various operations in the construction sector. The crushing, screening, and mineral processing equipment market is primarily driven by rise in mining activities to meet the demand for metal and minerals. Moreover, as compared to the other regions across the world, the economy of EU region has drastically shrunk over the last couple of years, which has affected the mining industry. This in turn is expected to restrain the growth of the crushing, screening, and mineral processing equipment market.
The crushing & screening equipment segment has secured the highest share of about 69.7% in the crushing, screening, and mineral processing equipment market Size in 2017, and is expected to grow at a CAGR of 7.5% during the forecast period. In terms of application, construction & plant modification sector is expected to contribute the highest market share in the coming years. Moreover, increase in emphasis on mining sector is expected to provide wide growth opportunities to small players in developing economies.
In 2017, Asia-Pacific registered the highest growth rate in the crushing, screening, and mineral processing equipment market, and is expected to continue this trend during the forecast period, owing to expansion of coal and metal mining in the region. For instance, Atlas Copco had invested $13.4 million for the expansion of the factory in Hyderabad, India, doubling its capacity. The plant manufactures drilling consumables for surface mining applications.
Key Findings of the Crushing, Screening and Mineral Processing Equipment Market:
- In 2018, crushing and screening equipment segment dominated the global crushing, screening, and mineral processing equipment market, in terms of revenue, and is projected to grow at a CAGR 7.5% during the forecast period.
- The portable mining equipment segment is projected to grow at a CAGR of 5.9% during the forecast period.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
The major players such as Terex Corporation, Sandvik AB, Astec Industries, Inc., Kleemann GMBH, Mccloskey International, Metso Corporation, Screen Machine Industries, Eagle Crusher, and Rubble Master have focused on developing new products to strengthen their presence in the market. Moreover, these companies expand their business by acquiring small businesses to sustain the intense competition.