Mineral Processing Equipment Market: Introduction
Mineral processing equipment are used to treat ores and mineral products in order to separate minerals from rock and gangue. These equipment are used in a process, wherein ores undergo processing in order to yield a more concentrated material.
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Key Drivers and Restraints of Global Mineral Processing Equipment Market
- Rapid industrialization and urbanization is a key driver of the global mineral processing equipment market. Over the last decade, population has grown at a significant rate, leading to rise in the consumption of minerals. Furthermore, increase in household incomes has contributed to rise in the demand for minerals. Thus, rapid industrialization and urbanization is a major driver of the global mineral processing equipment market.
- Rising investments in infrastructure and mining is another driver of the global mineral processing equipment market. Over the last few years, government investments in infrastructure development have significantly risen. These has boosted the mineral consumption across the globe. Hence, rising investments in infrastructure and mining are estimated to drive the global mineral processing equipment market during the forecast period.
- Increased awareness about global warming and other environment-related issues is anticipated to restrain the global mineral processing equipment market between 2019 and 2027. Stringent rules and regulations by governments for lowering carbon emissions and shifting focus toward green energy are expected to restrain the global mineral processing equipment market during the forecast period.
Key Players Operating in Global Market:
- ThyssenKrupp
- Taiho Enterprise
- McLanahan
- Terex Corporation
- Sandvik AB
- Metso Corporation
- Screen Machine Industries
- Kleemann GMBH
- Terex Corporation
- Mccloskey International
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Global Mineral Processing Equipment Market: Segmentation
- The global mineral processing equipment market can be segmented in terms of product, mobility, and application
- Based on product, the global mineral processing equipment market can be segmented into metal, coal, and others. The metal segment is anticipated to expand at a significant CAGR during the forecast period, due to rise in the demand for metals such as steel, iron, and aluminum from the global infrastructure and heavy engineering sectors.
- In terms of mobility, the global mineral processing equipment market can be divided into stationary and portable. The portable segment can be sub-divided into wheeled and tracked. The portable segment is anticipated to dominate the global market during the forecast period, due to high demand for portable mineral processing equipment from mining and infrastructure industries worldwide. This rise in the demand is expected to drive the global mineral processing equipment market from 2019 to 2027.
- Based on application, the global mineral processing equipment market can be segmented into construction, mining, and others. The construction segment is expected to dominate the global mineral processing equipment market in the next few years, due to rapid industrialization and urbanization across the globe. Governments are significantly investing in infrastructure development projects, which is a key factor projected to drive the construction segment during the forecast period.
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Global Mineral Processing Equipment Market: Regional Outlook
- Based on region, the global mineral processing equipment market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East Africa
- North America is likely to dominate the global mineral processing equipment market during the forecast period, due to increase in the demand for various metals from industries in the region. In the U.S., the demand for mineral processing equipment is rising in the industrial sector. This can be ascribed to rapid industrialization and urbanization in country.
- The market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period. Rise in the disposal income and investments in infrastructure projects by governments are expected to boost the mineral processing equipment market in the region from 2019 to 2027. China, India, Singapore, and Japan are leading contributors to the market in the region.
- Europe is projected to hold a substantial share of the global mineral processing equipment market in the near future. The U.K., Italy, and Germany are expected to hold considerable shares of the mineral processing equipment market in Europe during the forecast period.
- In terms of revenue, Latin America and Asia Pacific are expected to contribute significantly to the global market for mineral processing equipment in the near future, due to rising investments in infrastructure development projects in the region. Both regions present high growth potential to the mineral processing equipment market, due to presence of a large number of mines in these regions.
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