In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
IN THE NEWSCrushing & screening equipment are used in mining industry to turn big pieces of stones into smaller size which can be used in the construction sector. There are different types of crushers and screening systems. Depending on the requirement, the size and utility of crushers can differ, i.e., heavy, smaller or portable. The heavy-duty crushing equipment include jaw and cone crushers that are meant to handle large pieces of raw material.
The global crushing & screening equipment market was valued at USD 2,114.61 million in 2019 and is anticipated to grow up to USD 3,969.92 million by 2028, at a CAGR of 7.25% during the forecast period, i.e., 2020-2028. This growth of the market can be attributed to rising construction activities and infrastructure projects across the globe. Moreover, the continuous innovation and development in crushing and screening equipment that use new and improved technologies in order to reduce carbon emissions, is driving the demand for these equipment.
On the basis of geography, the global crushing and screening equipment market is segmented into North America, Western Europe, and Rest of the World. Among the market in these regions, the Western Europe crushing and screening market held the second highest position in terms of value during 2019 and is further estimated to cross market valuation of USD 570 Million by the end of 2021. The increase in investments from government and private sector, and spending in construction sector are some of the notable factors that are driving the growth of the market in this region. In western Europe, the U.K. crushing and screening equipment market is estimated to witness highest growth rate throughout the forecast period on the back of rise in repair and maintenance pertaining to the buildings, and growing construction industry. CLICK TO DOWNLOAD SAMPLE REPORT
The global crushing and screening equipment market is segmented by product into crushing and screening equipment. The crushing equipment is further segmented into jaw-, cone-, and impact crushers, and others, whereas, the screening equipment is segmented into free fall-, and roller screens, scalpers, and others. The revenue generated by new demand for these equipment is estimated to be higher as compared to replacement demand for the same. The overall revenue to be attained by total demand by crushing equipment segment is estimated to cross USD 2,225 Million in 2028, by growing at a CAGR of around 7% over the forecast period.
Growth in infrastructure and construction projects comprising building construction and other industrial applications is driving the demand for crushing and screening equipment. This growth is backed by the rise in urban population with advanced living standards around the globe. As per The World Bank, the overall urban population (% of total population) was 55.7 in 2019 worldwide. Moreover, the urban population is estimated to witness an average annual rate of change of 1.68 during 2018-2030, and 1.28 over 2030-2050 (as stated by United Nations). Additionally, numerous regulating organizations are significantly investing in the infrastructure and technological innovations around the world. These are some of the significant factors that are estimated to boost the growth of the market.
The usage of diesel as operation fuel in crushing and screening equipment results in CO2 emission, further raising the concerns on environment safety. Moreover, stringent safety regulations due to hazardous nature of work might act as barriers to the growth of the market.
The coronavirus pandemic has impacted numerous industries on a large scale. Construction industry is one such industry that witnessed challenges related to health and safety standards, unemployment, contractual agreements, remote training, delay or cancellations of projects among others. Despite these negative impacts, the project owners are navigating through these challenges in order to efficiently manage as well as prepare for future post pandemic.
Some of the prominent industry leaders in the global crushing and screening equipment market are Sandvik AB, Metso, Kleemann, Eagle Crusher, Rubble Master, McCloskey, Terex Corporation, Astec and other companies.
FREQUENTLY ASKED QUESTIONS
Growth in infrastructure and construction projects around the world is estimated to drive the market growth.
The market is anticipated to attain a CAGR of 7.25% over the forecast period, i.e., 2020-2028.
The major players in the market are Sandvik AB, Metso, Kleemann, Eagle Crusher, Rubble Master, McCloskey, Terex Corporation, Astec and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is majorly segmented by product into crushing and screening equipment.
The U.K. crushing and screening equipment market in Western Europe is estimated to witness highest growth rate over the forecast period and display significant growth opportunities.
Concerns related to CO2 emissions from these equipment and strict government regulations are estimated to hamper the market growth.
Global Crushing & Screening Equipment Market
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