crushing screening and mineral processing equipment market
Overview and Scope
Crushing, screening, and mineral processing equipment are machines used to reduce the size or separate the materials of a mineral deposit, such as ores, mineral sand, and rock.
Sizing and Forecast
The crushing, screening, and mineral processing equipment market size has grown steadily in recent years. It will grow from $15.21 billion in 2023 to $15.77 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to mining industry growth, rise in construction activities, demand for metals and minerals, government investments in infrastructure, globalization of mining operations, environmental regulations.
The crushing, screening, and mineral processing equipment market size is expected to see steady growth in the next few years. It will grow to $18.65 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to increasing focus on sustainable practices, exploration of new mining sites, growth in recycling industry, global infrastructure investment, rising demand for specialty minerals. Major trends in the forecast period include modular and scalable solutions, integration of artificial intelligence, customization for specific minerals and applications, collaborations and partnerships, data analytics and automation.
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Segmentation & Regional Insights
The crushing, screening, and mineral processing equipment market covered in this report is segmented –
1) By Type: Crushing And Screening Equipment, Mineral Processing Equipment
2) By Mobility: Stationary, Portable, Mobile
3) By Application: Construction And Plant Modification, Mining, Foundries And Smelters, Other Applications
Asia-Pacific was the largest region in the crushing, screening, and mineral processing equipment market in 2023. Europe is expected to be the fastest-growing region in the global crushing, screening, and mineral processing equipment market during the forecast period. The regions covered in the crushing, screening, and mineral processing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for mineral commodities is expected to propel the growth of the crushing, screening, and mineral processing equipment market going forward. Mineral commodity refers to a substance derived from a mineral on the Earth’s crust. Crushing, screening, and mineral processing equipment is used to separate ores and mineral products from the rock and gangue. For instance, in February 2023, the USGS (United States Geological Survey), a US-based scientific agency of the United States government, estimated that industries that use nonfuel mineral materials created an estimated $3.64 trillion in value-added products in 2022, which represents a 9% increase from 2021. The predicted value of all industrial mineral production in the United States in 2022 was $63.5 billion, or nearly 65% of the entire value of mine production in the country. Therefore, the increasing demand for mineral commodities is driving the growth of the crushing, screening, and mineral processing equipment market.
Key Industry Players
Major companies operating in the crushing, screening, and mineral processing equipment market report are Terex Corporation, Sandvik AB, Astec Industries Inc., Kleemann GMBH, Mccloskey International, Metso Corporation, Screen Machine Industries LLC, Caterpillar Inc., Eagle Crusher Company Inc., Rubble Master HMH GmbH, Hongxing group, Shanghai Shibang Machinery Co.Ltd., Premier Tech, Senya Tech, Wirtgen Group, Northern Heavy Industries Group Co. Ltd., ThyssenKrupp AG, VibraScreener Inc., Eriez Manufacturing Co., Chengdu Dahongli Machinery Co.Ltd., Meka Crushing & Concrete Batching Technologies, Lippmann-Milwaukee Inc., Komatsu Ltd., Joy Global Inc., FLSmidth & Co. A/S, Weir Group PLC, McLanahan Corporation, Superior Industries Inc., Deister Machine Company Inc., Telsmith Inc., Cedarapids Inc., Hazemag & EPR GmbH, BHS-Sonthofen GmbH, Bühler AG, Mogensen GmbH & Co. KG, General Kinematics Corporation
The crushing, screening, and mineral processing equipment market report table of contents includes:
1. Executive Summary
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