Mobile Crushers and Screeners Market Revenue Will Reach $3 Billion By 2024, Says Esticast Research and Consulting
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As per the report “Mobile Crushers and Screeners Market By product type, Mobile Crushers (Jaw Crushers, Impact Crushers, Cone Crushers, Others) Others), Industry trends, Estimation & Forecast, 2016 – 2024.” The global mobile crushers and screeners market was valued at $2.04 billion in 2016 and is projected to reach $3 billion by 2024, growing at a CAGR of 4.8% from 2017 to 2024.
In 2016, the mobile crushers generated the highest revenue share in the global mobile crushers and screeners market. Among major regions, Asia-Pacific market was the highest revenue generating market in 2016.
“Unlike the traditional crushing units, the mobile crushers crush the material directly on-site and can either transport the final product by itself or transmit it to a truck, hence reducing the operational cost. Moreover, their reliability, high efficiency, low wear and tear and versatile flexible configuration are the key reasons responsible for the growth of mobile crushers market in the current industrial scenario”
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The stone quarrying segment held approx. 65% of the global market in 2016. Stone quarrying is a multistage process by which rock is extracted from the ground and crushed to produce aggregate, and then it is screened into different sizes as per requirement. With the sanctioning of new construction projects in the developing regions such as Asia-Pacific, the demand of stone quarrying is highly stimulated. Stone crushing & screening equipment play a vital role in the construction industry as they provide vital aggregates required for concrete production as well as for road construction. As a result construction sector is expected to witness the fastest growth, with a CAGR of 6.3% during the forecast period.
High operational reliability and low maintenance requirements lead Jaw crushers market to have an impressive growth
Mobile jaw crushers are used for primary crushing of a wide variety of applications in the mining, iron & steel, and pit and quarry industries. Furthermore, they are used in recycling processes. Mobile jaw crushers are preferred in comparison to other crushers owing to rapidly rising cost of quarry operation due to lack of qualified manpower to operate the plants. The segment held nearly 44% of the total mobile crushers market share in 2016 and is expected to continue growing with the same trend throughout the forecast period, having the highest CAGR of 5.7%. Impact crushers followed the jaw crushers market, by holding nearly 1/4th of the total mobile crushers market in 2016 owing to their high flexibility and versatility.
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Asia Pacific to witness the fastest growth of mobile crushers, owing to rapid growth of infrastructure
Asia-Pacific region held nearly 50% of the overall mobile crushers and screeners market. The growth in infrastructural development projects such as dams, railways, airports, expressways, and national highways is leading the construction industry to flourish in the region, creating lucrative opportunities for the growth of mobile crushers and screeners market. Emerging countries such as India, China and Japan are constantly involved in new infrastructural projects. India, being a developing country is largely emphasizing on the growth of railway and road networks.
However, the economic slowdown in Europe is projected to result in the decline in construction activities, thereby saturating the demand for mobile crushers and screeners in the region.
MOBILE CRUSHERS AND SCREENERS MARKET KEY FINDINGS
• The global mobile crushers and screeners market was valued at $2.04 billion in 2016, and is projected to reach $3 billion by 2024.
• The stone quarrying segment held approx. 65% of the global market in 2016.
• The Jaw crushers segment held nearly 44% of the total mobile crushers market share in 2016.
• Asia-Pacific region held nearly 50% of the overall mobile crushers and screeners market.
Product launch is the prominent growth strategy adopted by the companies, accounting a major share of the total number of strategies adopted by the companies. Major market players are Komatsu Ltd., Sandvik AB, Terex Corporation, SBM Mineral Processing GmbH, Kleemann GmbH, McCloskey International, Anaconda Equipment Ltd.,Metso Corporation, Astec Industries, Inc., and Lippmann Milwaukee, Inc.
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