The crushing, screening, and mineral processing equipment market has witnessed significant growth owing to the expansion of the construction industry.
WILMINGTON, DELAWARE, February 14, 2024 /EINPresswire.com/ — 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. Moreover, the increase in demand for technologically advanced crushing, screening, and mineral processing equipment is anticipated to provide lucrative opportunities in the coming years.
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.
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Growth Factors:
Crushers, screeners, and mineral processing equipment are mainly used for crushing stones or mineral ores, recycling construction waste, and producing aggregate. This equipment aims to reduce large solid raw material masses into smaller sizes. Moreover, it helps to change waste material form so that it can be simply disposed of or recycled.
Furthermore, they are used for secondary and tertiary crushing to produce finished products and aim to crush materials between two parallel solid surfaces. Mineral processing mainly encompasses various stages in the mineral beneficiation chain. Main activities in mineral processing include exploration, mineral extraction, mining, mineral processing, smelting, refining, and semi-fabrication followed by final product manufacture. Growth in demand for metallic and non-metallic minerals boosts the crushing, screening, and mineral processing equipment market growth.
Growth in construction and infrastructure projects mainly drives the growth of the global crushing, screening, and mineral processing equipment market. The rise in urbanization as a result of an increase in population across the globe is another factor that propels the market demand. In addition, the increase in population results in a rise in mining activities across the globe, owing to development in the conveyance and transport sectors. This, in turn, drives demand for mining equipment, thereby driving demand for crushing, screening, and mineral processing equipment during the forecast period.
In addition, growth in the focus of governments to invest in infrastructure followed by various technological innovations by key manufacturers serves as an opportunity for the market.
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Impacting Factors:
The increased emphasis by governments on infrastructure investment, coupled with ongoing technological innovations by leading manufacturers, represents a significant opportunity for the crushing, screening, and mineral processing equipment industry. This convergence of factors creates a conducive environment for the sector, as it aligns with the rising demand for efficient and sustainable equipment in large-scale infrastructure projects worldwide.
Advanced machinery not only improves operational efficiency but also contributes to safety, environmental sustainability, and adaptability, positioning the industry to play a pivotal role in supporting and benefiting from the expanding infrastructure development initiatives. However, inadequate industry infrastructure followed by an increase in the level of carbon emission restrains the growth of the global crushing, screening, and mineral processing equipment market.
Top Players Are:
Screen Machines Industries, LLC, Deere & Company (Kleemann GmbH), FLSmidth & Co. A/S, Sandvik AB, Terex Corporation, Eagle Crusher Company, Inc., ThyssenKrupp AG, Metso Outotec Corporation, Rubble Master Hmh GmbH, McCloskey International Ltd.
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Allied Market Research
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