The growth of the crushing, screening, and mineral processing equipment market is driven by the increase in demand from the construction industry, the rise in mining activities, and the low transportation cost of mobile equipment.
WILMINGTON, Del., Oct. 27, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Crushing, Screening, and Mineral Processing Equipment Market by Type (Crushing, Screens, Other Processing Equipment), by Application (Construction, Mining, Recycling, Others), by Mobility (Stationary, Mobile-Wheeled, Mobile – Tracked), by Sales Type (New Equipment Sales, Aftermarket Sales): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global crushing, screening, and mineral processing equipment market was valued at $20.61 billion in 2020 and is projected to reach $40.55 billion by 2032, registering a CAGR of 5.6% from 2023 to 2032.
Prime determinants of growth
The increase in demand from the construction industry, the rise in mining activities, and the low transportation cost of mobile equipment drive the growth of the crushing, screening, and mineral processing equipment market. However, the inadequate industry infrastructure restricts the market growth. Moreover, the increase in demand for technologically advanced crushing, screening, and mineral processing equipment is anticipated to provide lucrative opportunities in the coming years.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2020 | $20.6 billion |
Market Size in 2022 | $23.3 billion |
Market Size in 2032 | $40.5 billion |
CAGR | 5.6 % |
No. of Pages in Report | 1112 |
Segments Covered | Type, Application, Mobility, Sales Type, and Regions |
Drivers | Increase in demand from the construction industry Rise in mining activities Low transportation cost of mobile equipment |
Opportunities | Increase in demand for technologically advanced crushing, screening, and mineral processing equipment |
Restraints | Inadequate industry infrastructure Increase in level of carbon emission |
The crushing segment maintained its leadership status throughout the forecast period.
Based on type, the crushing segment held the highest market share in 2022, accounting for around three-fifths of the crushing, screening, and mineral processing equipment market revenue, and is estimated to maintain its leadership status throughout the forecast period, crushers are designed to reduce the size of raw materials, making them suitable for further processing. This size reduction is a fundamental step in mineral processing. However, the screens segment is projected to manifest the highest CAGR of 6.5% from 2023 to 2032, owing to the availability of screens in various sizes and configurations, making them adaptable to different processing requirements. This scalability allows for flexibility in handling different types of materials and production volumes.
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The construction segment maintained its leadership status throughout the forecast period.
Based on application, the construction segment held the highest market share in 2022, accounting for nearly half of the crushing, screening, and mineral processing equipment market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to construction industry benefits significantly from the use of crushing, screening, and mineral processing equipment. However, the mining segment is projected to manifest the highest CAGR of 6.5% from 2023 to 2032, its efficient crushing and screening processes, along with advanced mineral processing techniques, can lead to higher recovery rates of valuable minerals from ore deposits, maximizing the economic benefits of mining operations.
The mobile-wheeled segment maintained its leadership status throughout the forecast period.
Based on mobility, the mobile-wheeled segment held the highest market share in 2022, accounting for nearly two-fifths of the crushing, screening, and mineral processing equipment market revenue, and is estimated to maintain its leadership status throughout the forecast period, The mobile-wheeled equipment is designed for easy transport between different job sites. However, the mobile-tracked segment is projected to manifest the highest CAGR of 6.9% from 2023 to 2032, owing mobile-tracked provides stability which is crucial for safe and effective operation in challenging environments, such as mining sites and construction sites with uneven ground.
Asia to maintain its dominance by 2032.
Based on region, Asia held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the crushing, screening, and mineral processing equipment market revenue, and is likely to dominate the market during the forecast period and is expected to witness the fastest CAGR of 6.4% from 2023 to 2032. Many countries in Asia, particularly China and India, have been experiencing rapid economic growth and urbanization. This growth has led to increased demand for infrastructure development, including roads, bridges, buildings, and transportation systems, which require significant quantities of construction aggregates produced through crushing and screening.
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Leading Market Players: -
- Eagle Crusher Company, Inc.
- FLSmidth & Co. A/S
- Kleemann GmbH
- McCloskey International Ltd.
- Metso Outotec Corporation
- Rubble Master Hmh GmbH
- Sandvik AB
- Screen Machines Industries, LLC
- Terex Corporation
- ThyssenKrupp AG
The report provides a detailed analysis of these key players in the crushing, screening, and mineral processing equipment market. These players have adopted different strategies such as new product launches, business expansion, acquisition, collaboration, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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