Increase in demand for construction, growth in urbanization, rise in development of domestic infrastructure & mining activities, and low transportation cost of mobile equipment drive the growth of the global crushing, screening, and mineral processing equipment market
PORTLAND, Oregon, May 22, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, Crushing, Screening, and Mineral Processing Equipment Market by Type (Crushing & Screening Equipment and Mineral Processing Equipment), Application (Construction & Plant Modification, Mining, Foundries & Smelters, and Others), and Mobility (Stationary, Portable (wheeled), and Mobile (tracked)): Global Opportunity Analysis and Industry Forecast, 2018 - 2025. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition. According to the report, the global crushing, screening, and mineral processing market generated $19.12 billion in 2017 and is expected to reach $33.11 billion by 2025, growing at a CAGR of 6.8% from 2018 to 2025.
Rise in investment by government and other firms for development of domestic infrastructure &mining activities, increased demand for metals & minerals, growing innovations such as automation, controlled costs such as elimination of high labor cost & time, and emergence of mining automation software drive the growth of the market. However, inadequate industry infrastructure and increased levels of carbon emission restrain the growth of the market. Conversely, various technological innovations by the key manufacturers and expansion of mining activities in countries such as India and China are expected to create new opportunities for the growth of the market.
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Crushing and screening equipment segment to be lucrative through 2025
Among product types, the crushing and screening equipment segment grabbed 69.7% of the market share in 2017 and would maintain its revenue lead through 2025. The same is expected to register the fastest CAGR of 7.5% during the forecast period. This is due to the growing demand for jaw crushers, cone crushers, and impact crushers.
Construction and plant modification segment to be dominant, mining segment to exhibit the fastest growth
Among applications, the construction and plant modification segment was the largest revenue generator, capturing almost half of the market share in 2017 and is likely to dominate the market through 2025. Crushing & screening equipment play a vital role in the construction industry as they provide vital aggregates required for concrete production as well as road construction. However, the mining segment would grow at the fastest CAGR of 8.3% from 2018 to 2025. The segment is driven by the increase in mining activities and rise in demand for technologically advanced solutions. New technology crushers ensure improved output, cost-effectiveness, higher performance, and flexibility.
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Asia-Pacific to dominate and achieve the fastest growth through 2025
The market in Asia Pacific grabbed the largest share of 49.7% in 2017 and is likely to maintain its dominance through the forecast period, 2018-2025. It is also expected to witness the fastest CAGR of 7.4% during the study period. The growth in infrastructure development projects such as railway ballast, national highways, dams, airports, expressways, and construction industry are the major factors that drives the market for crushers and screeners in this region.
Key players of the industry
Leading market players analyzed in the research include Terex Corporation, Sandvik AB, Astec Industries, Inc., Kleemann GMBH, Mccloskey International, Metso Corporation, Screen Machine Industries, Eagle Crusher, and Rubble Master. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
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Asia-Pacific serves as the most productive region as compared to others with diverse industry verticals significantly investing in mining equipment. Moreover, various domestic players are investing in the mining sector, which is anticipated to boost the demand for mining equipment such as crusher, trucks, loaders, diggers, and others as to complete operations with reduced labor cost and high precision of work within optimized time. Furthermore, the surface mining equipment market is expected to experience rapid growth in the emerging economies during the forecast period due to deployments in the construction and mining industries.
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