Rockville , Oct. 04, 2023 (GLOBE NEWSWIRE) -- As revealed by Fact.MR, a provider of market research and competitive intelligence, the global crushing equipment market is expected to reach a value of US$ 13 billion by the end of 2033, expanding at a CAGR of 7.5% over the next ten years (2023 to 2033).
Crushing is the process of reducing tough substances into smaller fragments through pressing, pounding, or grinding. Crushing machinery is employed to modify the dimensions of robust waste materials for efficient recycling and to distinguish between various material compositions. Meanwhile, screening serves as the ultimate step in segregating coarse substances and provides the final separation for materials of varying sizes.
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Due to rapid technological advancements, the mining industry is witnessing high demand for crushing equipment. Extraction of metals from rocks has become simple in part due to advanced grinding machinery, which has simplified the mining process. By significantly lowering the extracted material's particle size compared to conventional techniques, the use of crushing equipment in mining operations has helped improve work efficiency. Utilizing this equipment enables the economical extraction of metal ores, functioning as a crucial catalyst for the expansion of the mining industry's market for crushing machinery.
Rapid urbanization, population growth, expansion of highways and infrastructure, increased transportation needs, and ever-growing mining operations are all poised to drive global crushing equipment market expansion. The global mining industry has experienced consistent growth in recent years, thanks to increased exploration activities and the launch of new mining projects in countries such as Canada, the United States, Australia, India, Russia, and South Africa. Several market participants are introducing enhanced models with improved performance and capacity.
| Report Attributes | Details |
| Value Projection (2033) | US$ 13 Billion |
| Growth Rate (2023-2033) | 7.5% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- The global crushing equipment market is valued at US$ 6.3 billion in 2023.
- Worldwide demand for crushing equipment is projected to rise at a CAGR of 7.5% from 2023 to 2033.
- The market is estimated to touch US$ 13 billion by the end of 2033.
- Asia Pacific is expected to make up 47% of the global market share in 2023.
- The market in North America is projected to increase significantly during the projected period at a CAGR of 7%.
- Jaw crushers represented approximately 43% of the overall market share in 2023.
“The mining industry's increased demand, driven by increased productivity and improved workplace safety measures, is one of the main drivers driving the growth of the crushing equipment market. Additionally, due to rapid technological developments aimed at improving the complex mining processes, a variety of crushing equipment is being used more in the mining industry, backed by the growth of the coal mining sector,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Metso
- Sandvik
- Terex
- Eagle Crusher Company
- Weir Group
- Astec Industries
- Caterpillar Inc
- Kleemann GMBH
Why Is Crushing Equipment Adoption So High in the United States?
"The Sustainability of the Rental Market and the After-Sales Services Offered by Manufacturers"
The market in North America is anticipated to expand significantly between the years of projection (2023 and 2033), with a CAGR of 7%.
The mining and construction industries in the United States heavily rely on the crushing equipment sector. It includes the manufacturing and marketing of machinery for reducing large rocks and stones to smaller ones or aggregates for use in a variety of projects, such as the construction of buildings, bridges, roads, and infrastructure.
The use of machinery that has a lower environmental impact is encouraged by the focus on sustainable practices in mining and building. Eco-friendly choices for crushing machinery are becoming more popular. The renting of concrete crushers is a significant industry in the US. The dynamics of the market are influenced by the fact that many construction businesses choose to rent equipment rather than buy it.
Manufacturers and dealers in the US offer maintenance, repair, and part supply as post-sale services to assist equipment users. because this region's construction industry is growing more quickly. Also, the need for crushers for mining applications is growing as mining expands along with global population growth and the accelerating economy.
Market Competition
Companies manufacturing crushing equipment for mining operations frequently use partnerships, acquisitions, and new releases as key business tactics. These act as crucial cornerstones for the expansion and prosperity of enterprises in this fiercely competitive market.
- In May 2019, FLSmidth introduced digitally enhanced Raptor cone crushers with the aim of enhancing safety and optimizing throughput. These compact crusher models offer exceptional performance and are engineered for efficient operation while simultaneously minimizing operational and wear expenses. Additionally, these crusher solutions are integrated with intelligent cloud-based technology, contributing to the optimization of particle size and the consistency of shape.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global crushing equipment market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on product (cone crushers, jaw crushers, impact crushers), end use (aggregates, mining & metallurgy, recycling, quarrying, construction), and mobility (stationary, portable, mobile), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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