According to the report, the global crushing, screening, and mineral processing equipment industry generated $18.9 billion in 2020, and is anticipated to generate $32.1 billion by 2030, witnessing a CAGR of 5.2% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Priyanka Khandelwal, a Lead Analyst, Construction and Manufacturing at Allied Market Research, stated, “The global mining equipment market has witnessed significant growth over the past decade, owing to increase in demand for underground mining equipment, surge in consumption of natural resources, and rise in need for mineral. However, strict norms of government, and inadequate industry infrastructure, are anticipated to limit the growth of the mining equipment market. Furthermore, rise in demand for technologically advanced mining equipment is anticipated to fuel the growth of the global mining equipment market.”
COVID-19 scenario:
- The outbreak of the COVID-19 pandemic has negatively impacted the growth rate of the global crushing, screening, and mineral processing equipment market, owing to implementation of lockdown.
- The pandemic led to delay the production of crushing, screening, and mineral processing equipment, due to temporary closure of manufacturing facilities and disruptions in the supply chain.
The report offers detailed segmentation of the global crushing, screening, and mineral processing equipment market based on type, application, mobility, and region.
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Based on application, the construction and plant modification segment held the highest market share in 2020, accounting for nearly half of the global crushing, screening, and mineral processing equipment market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the mining segment is projected to manifest the highest CAGR of 6.3% from 2021 to 2030.
Based on mobility, the portable segment accounted for the largest share in 2020, contributing to nearly two-fifths of the global crushing, screening, and mineral processing equipment market, and is projected to maintain its lead position during the forecast period. Moreover, the mobile segment is expected to portray the largest CAGR of 5.9% from 2021 to 2030.
Based on region, Asia-Pacific region held the highest market share in terms of revenue 2020, accounting for nearly half of the global crushing, screening, and mineral processing equipment market. Moreover, the same region is expected to witness the fastest CAGR of 5.6% during the forecast period.
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The key players profiled in the market report include Terex Corporation, Sandvik AB, Astec Industries, Inc., Kleemann GMBH, Mccloskey International, Metso Corporation, Screen Machine Industries, Caterpillar Inc, Eagle Crusher, and Rubble Master.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.