United States, Rockville MD, July 12, 2022 (GLOBE NEWSWIRE) -- Fact.MR, market research and competitive intelligence provider, has published its latest report entitled “Screening Equipment Market”, which states that the global screening equipment market would stand at US$ 6.78 Bn in 2022 and witness a CAGR of 5.6% between 2022 and 2032. Fact.MR is documenting the tremendous potential screening equipment has, through independent functioning of screening tools and an influx of full-circuit system.
Screening equipment is used to filter raw materials from a quarry or crusher into even finer grades, bringing them closer to a finished product, as the second step in the material handling process.
The whole-circuit system comes across as an efficient approach towards mine and sort resources for making something sellable, in spite of the screens being employed sans crushers. Adoption of this system is expected to render the screening equipment market to US$ 6.78 Bn by the year 2032.
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Key Takeaways from Market Study
- North America holds 25.2% of the market share.
- Europe contributes for 22.7% of overall revenue.
- Rise in mining activities across the globe to catalyse the screening equipment market.
- Russian and Scandinavian markets to witness an increasing demand for screening equipment.
- Construction vertical is expected to generate the highest demand for screening equipment.
Market Developments
The present scenario is such that there is an extensive demand for screening equipment for sorting and bulk handling.
• Telsmith, Inc., in 2019, did announce that it had gone ahead with appointment of Recycle Equipment Company and Pacific Rock as Manufacturers’ representative of the product line of mining process equipment. These two companies would thus be customers in Northern Idaho, Oregon, and Washington D.C.
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“New Market Players Focusing on Reducing Manufacturing & Maintenance Costs and Improving Product Design”
Demand for screening equipment is being driven by an increase in infrastructure and construction projects, including building construction and other industrial uses. An increase in urban population with high living standards around the world is supporting this expansion.
“High Demand from Various End-use Industries in North America”
From the perspective of North America, the screening equipment market is predicted to see favourable revenue growth over the forecast period due to developments seen across end-use applications, including building infrastructure, agriculture, and mining. In 2022, North America is expected to account for 25.9% of the global market share.
In response to the mining industry's increased demand in the Scandinavian and Russian markets, the market in Europe is predicted to experience a good expansion in the screening equipment sector. Currently, Europe is likely to hold 22.7% of the global market share.
Key Segments Covered in Screening Equipment Industry Research
- Screening Equipment Market by Type :
- Wet Screening Equipment
- Dry Screening Equipment
- Screening Equipment Market by Product :
- Screen Panels
- Trommel Screens
- Gyratory Equipment
- Vibratory Equipment
- Screening Equipment Market by End Use :
- Oil & Gas
- Construction
- Industrial
- Mining
- Agriculture
- Screening Equipment Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global screening equipment market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by type (wet screening equipment and dry screening equipment), by product (screen panels, trammel screens, gyratory equipment, and vibratory equipment), by end-use (oil & gas, construction, industrial, mining, and agriculture), and by region (North America, LATAM, Europe, East Asia, South Asia & Oceania, and MEA).
Fact.MR’s Domain Knowledge in Industrial Goods
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial goods team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial goods division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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