Rockville, MD, Aug. 14, 2024 (GLOBE NEWSWIRE) -- According to a recently updated industry research report by Fact.MR, the global Screening Equipment Market is estimated to reach US$ 7.43 billion in 2024 and expand at a CAGR of 5.6% from 2024 to 2034.
Expansion of the construction and mining industries continues to have a significant impact on global screening equipment demand growth. Demand for screening equipment is increasing due to infrastructure and construction projects, including building & construction, mining, and industrial applications. Several governments are investing heavily in infrastructure and technological advancements.
The United States is expected to account for a sizable market for screening, crushing, and mineral processing equipment. The country not only leads the market in North America but also holds the pole position in the global market, backed by the rapid expansion of construction and mining industries, high adoption of automation technology, technological advancements in equipment design, and rising demand for construction materials. Coming back to the global market, dry screening equipment is highly sought after and accounts for bulk of overall product sales.
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Key Takeaways from Market Study:
- The global market for screening equipment is projected to expand at a CAGR of 5.6% from 2024 to 2034.
- The market is forecasted to climb to a value of US$ 12.82 billion by 2034.
- The market in the United States is expected to reach US$ 1.72 billion in 2024.
- Germany is projected to occupy a market share of 17.8% in Western Europe in 2024.
- The mining segment is forecasted to reach a size of US$ 3.35 billion by 2034.
- The market in Western Europe is projected to expand at a CAGR of 5.5% from 2024 to 2034.
“Full-circuit systems are highly efficient for mining and sorting resources for marketable products, whether screens are used with or without crushers. The growth of the construction and mining industries continues to positively influence global usage of screening equipment,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Screening Equipment Market:
Key players in the screening equipment market Terex Corporation, The Weir Group PLC, Sandvik AB, NAWA Engineers & Consultants (P) Ltd., Fredrik Mogensen AB, Vulcan Industries Inc., Haver Niagara GmbH, Hillenbrand Inc. (Rotex), Derrick Corporation, SMICO Manufacturing Inc., Volvo Construction Equipment, FLSmidth & Co. A/S, Eagle Crusher Company, Inc., Metso Outotec Corporation, Deere & Company (Kleemann GmbH), McCloskey International Ltd., Screen Machines Industries, Rubble Master Hmh GmbH, ThyssenKrupp AG, Kleemann GmbH.d
Large Infrastructural Projects in Europe Driving Market Expansion:
The construction industry in Europe and North America is exhibiting rapid growth due to globalization and increased investments. The construction industry in these regions has a high level of innovation, which has led to improvements in market capabilities and the use of cutting-edge mobile crushing and screening machines. Furthermore, the growing number of projects, as well as the completion of large projects, have driven up the demand for screening machines and equipment.
Screening Equipment Industry News:
- In April 2023, Epiroc completed the purchase of South African mining equipment manufacturer AARD Mining Equipment. Situated close to Johannesburg, AARD is a South African company that specialises in low-profile underground technology for mines with short mining heights. AARD also develops, produces, services, and maintains a wide range of mining equipment.
- In June 2021, the German construction equipment manufacturer Kleemann GmbH unveiled the MCO 90 EVO2 crusher, a mobicone. The machine seems to be a high-performance piece of equipment with a 270 t/h feeding capacity and clever overload systems that is intended for use by mining and quarrying industries. The introduction of this new crusher raises the possibility that there will be a rise in the need for crushing and screening machinery that can process enormous amounts of material and perform well under challenging circumstances.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the screening equipment market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges insights into the screening equipment market based on type (wet, dry), product (screen panels, trommel screens, gyratory equipment, vibratory equipment), and end use (oil & gas, construction, industrial, mining, agriculture), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Segmentation of Screening Equipment Market Research:
By Type :
- Wet
- Dry
By Product :
- Screen Panels
- Trommel Screens
- Gyratory Equipment
- Vibratory Equipment
By End Use :
- Oil & Gas
- Construction
- Industrial
- Mining
- Agriculture
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