The Crushing, Screening, And Mineral Processing Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Crushing, Screening, And Mineral Processing Equipment Global Market Report 2024, 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.
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.
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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
Product innovation is a key trend gaining popularity in the crushing, screening, and mineral processing equipment market. Companies operating in the crushing, screening, and mineral processing equipment market are developing innovative products to sustain their position in the market. For instance, in June 2021, Kleemann GmbH, a Germany-based manufacturer of construction equipment, launched a mobicone, MCO 90 EVO2 crusher, which appears to be a high-performance machine designed for use by mining and quarrying companies with a feeding capacity of 270 t/h and intelligent overload systems. The launch of this new crusher suggests that there may be an increasing demand for crushing and screening equipment that can handle large volumes of material and operate efficiently in harsh conditions. It also highlights the ongoing efforts by manufacturers to develop innovative solutions that can help mining and quarrying companies improve their productivity, efficiency, and sustainability.
The crushing, screening, and mineral processing equipment market report table of contents includes:
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