August 03, 2023 13:42 ET | Source: ReportLinker ReportLinker
New York, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Crushing, Screening, And Mineral Processing Equipment Global Market Report 2023" - https://www.reportlinker.com/p06479828/?utm_source=GNW , Eagle Crusher, Rubble Master HMH GmbH, Hongxing group, Shanghai Shibang Machinery, Premier Tech, Senya Crushers and Wirtgen Group. The global crushing, screening, and mineral processing equipment market is expected to grow from $14.68 billion in 2022 to $15.21 billion in 2023 at a compound annual growth rate (CAGR) of 3.62%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The crushing, screening, and mineral processing equipment market is expected to reach $17.72 billion in 2027 at a CAGR of 3.89%. The crushing, screening, and mineral processing equipment market consists of sales of jaw crushers, cone crushers, gyratory crushers, and impact crushers, vibrating screens, trommel screens, and static screens, magnetic separators, gravity concentrators, and flotation machines.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. 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. Asia-Pacific was the largest region in the crushing, screening, and mineral processing equipment market in 2022.Europe is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The main types of crushing, screening, and mineral processing equipment are crushing, screening equipment, and mineral processing equipment.Crushing and screening equipment refers to machinery used to break down, separate, and transport raw materials in the mining, construction, and recycling industries. The mobility of the equipment includes stationary, portable, and mobile for various applications such as construction and plant modification, mining, foundries and smelters, and others. 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. 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. In November 2022, Sandvik AB, a Sweden-based global engineering company specializing in mining and rock excavation equipment, completed the acquisition of the mining part of Schenck Process Group (SP Mining) for an undisclosed amount.The acquisition of Schenck Process’s mining business is expected to strengthen Sandvik’s position in the mining equipment market and expand its portfolio of products and services for the mining industry. Schenck Process is a Germany-based industrial machinery manufacturing company operating in the crushing, screening and mineral processing equipment market. The countries covered in the crushing, screening, and mineral processing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products. The crushing, screening, and mineral processing equipment market research report is one of a series of new reports that provides crushing, screening, and mineral processing equipment market statistics, including crushing, screening, and mineral processing equipment industry global market size, regional shares, competitors with a crushing, screening, and mineral processing equipment market share, detailed crushing, screening, and mineral processing equipment market segments, market trends and opportunities, and any further data you may need to thrive in the crushing, screening, and mineral processing equipment industry. This crushing, screening, and mineral processing equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. Read the full report: https://www.reportlinker.com/p06479828/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. 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