Mineral Processing Equipment Market
Mineral Processing Equipment Market for Mining Industry (Product: Crushers, Millers/Grinders, Screeners, Sizers, and Hydro-cyclones, Materials Handling, Heavy-duty Conveying, Gravity Concentration, Separation, and Classification, Hydromet & Pyromet, Flotation, Centrifugation & Filtration, Thickening & Clarification, Slurry Pumps & Valves, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2025
Press Release :
Mining Industry Heavily Dependent on Processing Equipment
Processing of minerals consists of four general types of unit operations, comminution, sizing, concentration, and dewatering. All these processes cannot be accomplished without the use of mineral processing equipment. The equipment used in mineral processing has consistently expanded its international footprint to serve its consumers with greater flexibility, agility, and technological support. Several significant improvements in performance and productivity are achieved through mine-to-process equipment, which has consequently improved the profitability of various operations globally. Manufacturers of mineral processing equipment are focusing to maximize production with the available assets, while minimizing the overall cost and maximizing the product lifecycle sustainably. Mining equipment can be used in various applications that include mineral processing, rock quarries, and recycling. An increase in adoption and demand for such equipment majorly drives the growth of the global mineral processing equipment market for mining industry during the forecast period.
Mining industries produce most of the materials the world relies on to build infrastructures and tools of daily use. In order to collect large amounts of energy and to provide agriculture with fertilizers that enable most of the foods produced, a large number of elements are required that are obtained from mining. Conclusively, the future is deeply dependent on mining. Several mining divisions, from phosphate to uranium, are analyzed for their current impacts and challenges are discussed. Moreover, the demand for metals and minerals is significantly rising, thus, governments and mining companies are increasingly investing in mining activities such as exploration, mining, and material processing. The mining industry mostly depends on the equipment they use to mine the minerals. Thus, with the growing demand for mining and minerals, the global mineral processing equipment market for mining industry is expected to grow during the projected timeline.
Request a sample to get extensive insights into the Mineral Processing Equipment Market for Mining Industry
Absence of Workers Due to Continuous Risk of Virus Exposure Witnesses Flexibility Challenges
The COVID-19 pandemic had a critical impact on the global economy and that impact can be witnessed across all industries, including mining. With growing losses of lives, mining companies are required to play a crucial role in protecting the health of workers and associates, support local economies, as well as become purpose-driven, adaptable, and resilient organizations. This has led to a major slowdown in the sales of equipment as well as the demand. Some industry players in mining are affected more than others by the new set of difficulties facing the industry. Moreover, stringent government regulations on minimizing production, restrictions on global trade, and interrupted supply chain are some major factors hindering the present growth of the mineral processing equipment market for mining industry.
Amid the pandemic and nationwide restrictions, some major players have shut down their business due to lack of demand and manufacturing personnel. Moreover, the length and severity of the impact are still not fully known. Key players are planning for medium to long-term policies, while also developing new abilities and ways of working that will seamlessly enable longer-term changes to how they operate. Mineral processing equipment manufacturers and mining companies lack operational flexibility to adapt production as promptly as might be required by this crisis. This can result in unbalanced and non-optimal operations, leading to increased costs in the short-term. However, with worldwide governments and healthcare industry taking progressive measures, the global mineral processing equipment market for mining industry is expected to resume very shortly.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Rising Investments to Acquire Industrial Minerals Fuel Demand for Mineral Processing Equipment
Minerals processing is a comprehensive term that includes several types of equipment, which is one of the most significant aspects of the overall mining operation. Most mined materials, from hard-rock ores to solid-fuel minerals such as coal, oil shale, and industrial minerals are subjected to some sort of processing to which mineral processing equipment is necessary. Often, several mineral processing operations are executed in order to produce a marketable product. Thus, mining companies are extremely dependent on the fidelity of the equipment used for mining products. The expansion of the mining industry would drive an increase in the demand for mining and processing equipment. Thus, higher production of metals and minerals is anticipated to boost the mineral processing equipment market for mining industry.
Mineral processing equipment is widely used for crushing, screening, and mineral processing manufacturers. Manufacturers are centering on various marketing strategies, followed by product offering to meet the growth in requirement for mineral processing equipment. In addition, rise in construction and infrastructure development in Latin America, Middle East, and Asia Pacific regions is also anticipated to propel the growth of the market during the forecast period. Leading manufacturers are facilitating to stay in competitive advantage as cost, variety, and brand image are important factors that drive the demand. Moreover, increasing investments to acquire industrial minerals such as limestone, clay, sand, gravel, diatomite, kaolin, bentonite, etc. are also estimated to drive the mineral processing equipment market for mining industry during the forecast period.
High Demand for Automated Solutions for Mining Equipment from Manufacturers
Technological evolution in mining equipment and rise in adoption of automated solutions in recent years are predicted to drive the mineral processing equipment market for mining industry during the projected timeline. Numerous manufacturers are now providing smart solutions to their consumers for enhancing productivity and magnifying the capability of industrial operations. These smart solutions offer modifications such as real-time control and monitoring. This will help optimize production management and improve decision-making approach. Moreover, with increase in demand for exploration machines and robotics, businesses are reinstating legacy mining methods, presenting an incentive to the mineral processing equipment market for mining industry growth.
Region wise, Asia Pacific currently lacks the mechanization rates, and is anticipated to witness the demand for equipment for mining and processing activities. Major minerals such as coal, iron, manganese, tin, tungsten, antimony, copper, lead, zinc, and precious stone are widely found in the Asia Pacific. The region highly spends on coal, gold, copper, and iron ore. Thus, Asia Pacific is projected to be a lucrative region for the mineral processing equipment market for mining industry. North America accommodates a large number of mining activities and international mining companies in the region. This is likely to increase the demand for the mineral processing equipment market for mining industry during the projected period.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Mineral Processing Equipment Market for Mining Industry
The mineral processing equipment market for mining industry has been witnessing a positive rise in demand for metals and minerals across the globe. The current market holds a variety of machines ideally suited to the processing of a diversity of minerals, depending on the type of mineral involved. Mineral processing equipment works with salt, sand, soil, fertilizer, coal, or any other materials beyond aggregates. Moreover, the increasing demand for energy transition metals, including lithium, cobalt, graphite, nickel, and aluminum are contributing to the growth of the mineral processing equipment market for mining industry during the forecast period. However, the market is experiencing a slowdown due to the ongoing pandemic. Nevertheless, rapid progress in vaccination and improvement in healthcare sectors are anticipating overcoming the present restraints during the near future.
Mineral Processing Equipment Market for Mining Industry: Overview
- According to Transparency Market Research’s latest research report on the global mineral processing equipment market for mining industry for the forecast period of 2021 to 2025, increase in usage of minerals in industrial application is expected to boost the global mineral processing equipment market for mining industry during the forecast period
- Rise in awareness about green energy such as solar and wind energy is likely to boost the demand for mineral processing equipment. For instance, demand for metals such as copper and silver is increasing in wind energy projects. About 4.7 tons of copper is required for one wind turbine. More than 30,000 wind turbines were installed around the world in 2020 compared to around 22,000 in 2019. This growth trend is anticipated to continue in the near future due to rise in investment in renewable energy projects. Thus, high demand for metals and minerals is anticipated propel the mineral processing equipment market for mining industry during the forecast period.
- In terms of revenue, the global mineral processing equipment market for mining industry is expected to reach US$ 8.8 Bn by 2025, expanding at a CAGR of ~5% during the forecast period
Expansion of Mining Industry: Key Driver of Mineral Processing Equipment Market for Mining Industry
- Demand for metals and minerals has been rising significantly, since the past two decades. As a result, mining companies are investing increasingly in mining activities such as exploration, mining, and material processing. Rise in investment in residential and non- residential construction sectors, rapid industrialization, recovery in automobile sales, and growth in renewable energy projects are key factors propelling the demand for metals across different end-use industries.
- Mining industry, with significant advancements in technology, is making challenging geographical sites accessible, thus enabling the industry to cater to the rising need of consumers. The international landscape of exploration and development of mines and mineral processing equipment has been witnessing changes since the last few decades.
- In terms of investment, mining companies in Canada invested more than US$ 82 Bn in over 120 projects in 2020. The investment was valued at US$ 80 Bn in 2019, with 114 number of mining projects. Similarly, China, Australia, the U.S., and some countries in Europe are investing in the mining industry in Africa and Latin America. The total investment in Africa by these countries stands at more than US$ 40 Bn.
- Expansion of the mining industry would lead to an increase in the production of metals and minerals. Thus, higher production of metals and minerals is anticipated to boost the demand for mineral processing equipment. Thus, expansion of the mining industry is estimated to drive the mineral processing equipment market for the mining industry.
Increase in Demand for Mineral Processing Equipment for Mining Industry in Developing Countries
- Manufacturing and service industries have been expanding significantly in developing countries such as India, China, Mexico, Vietnam, Indonesia, and Brazil since the past few years
- Construction, shipbuilding, and manufacturing industries in Asia Pacific have been developing at a rapid pace due to significant rise in number of projects. This is expected to boost the demand for metals and minerals.
- Increase in disposable income and rise in demand for durable goods such as automobiles and household equipment with high mineral or metal content are anticipated to fuel the demand for minerals or metals
- Several international developers aim to establish their businesses through FDI incentive schemes in emerging economies. This is projected to fuel industrialization, thereby indirectly boosting the economy of countries. Increase in industrialization is likely to propel the mining market, primarily due to the high demand for metal products. These factors are expected to boost the demand for the mineral processing equipment. Increase in demand for mineral processing equipment in developing countries is anticipated to augment the mineral processing equipment market for mining industry.
Mineral Processing Equipment Market for Mining Industry: Competition Landscape
- Detailed profiles of manufacturers of mineral processing equipment have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies. The mineral processing equipment market for mining industry is consolidated. This can be ascribed to domination of a limited number of players in the mineral processing equipment market for mining industry.
- Key players operating in the global mineral processing equipment market for mining industry are
- thyssenkrupp AG
- Terex Corporation
- Sandvik AB
- Metso Outotec
- The Weir Group PLC
- Kleemann GMBH
- Mccloskey International
- Komatsu Ltd.
- Eriez Manufacturing Co
- Shandong Xinhai Mining Technology & Inc.
Mineral Processing Equipment Market for Mining Industry: Key Developments
- Key providers of mineral processing equipment for mining industry such as Metso Outotec, Terex Corporation, FLSmidth, Sandvik AB, and The Weir Group PLC are focusing on geographical expansion to capture untapped markets. Major developments in the global mineral processing equipment market for mining industry are highlighted below:
- In August, 2020, thyssenkrupp AG introduced the new ‘HPGR Pro – the next-generation high pressure grinding roll.’ This high pressure grinding roll offers up to 20% more throughput, up to 15% lower energy consumption, and up to 30% longer-lasting rollers. HPGR Pro rolls are lubricated with oil and not grease. This prevents high temperatures occurring during higher machine usage and supports easier cleaning. Optimized bearing seals, oil quality monitoring, and continual filtering also reduce contamination and the environmental impact. Furthermore, continual filtering allows the oil to be used longer.
- In October 2020, Terex Corporation completed major capital investment in a new production facility in Watertown, South Dakota, for its Terex Utilities business. The plant provides an efficient, safe, modern work environment, replacing a series of separate facilities.
- In the global mineral processing equipment market for mining industry report, we have discussed individual strategies, followed by company profiles of manufacturers of mineral processing equipment. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global mineral processing equipment market for mining industry.
Mineral Processing Equipment Market for Mining Industry – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global mineral processing equipment market for mining industry to accurately gauge its potential development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the mineral processing equipment market for mining industry, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the mineral processing equipment market for mining industry will progress during the forecast period of 2021 to 2025.
The report offers intricate dynamics about the different aspects of the mineral processing equipment market for mining industry that aid companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the mineral processing equipment market for mining industry during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the mineral processing equipment market for mining industry, and estimate statistics related to the market progress in terms of value (US$ Mn).
This study covers a detailed segmentation of the mineral processing equipment market for mining industry, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the mineral processing equipment market for mining industry, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Mineral Processing Equipment Market for Mining Industry
The report provides detailed information about the mineral processing equipment market for mining industry on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the mineral processing equipment, so as to help them make successful strategies and take target-driven decisions.
- Which product of mineral processing equipment market for mining industry will emerge as a major revenue generator for the market during the forecast period?
- How are key market players successfully earning revenue out of the advantages of mineral processing equipment?
- What will be the Y-o-Y growth of the mineral processing equipment market for mining industry between 2021 and 2025?
- What are the winning imperatives of market frontrunners in the mineral processing equipment market for mining industry?
Research Methodology – Mineral Processing Equipment Market for Mining Industry
The research methodology adopted by analysts for combining the mineral processing equipment market for mining industry report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the mineral processing equipment market for mining industry.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine sources, analysts have emphasized the changing scenario of the mineral processing equipment market for mining industry.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the mineral processing equipment market for mining industry.
Mineral Processing Equipment Market for Mining Industry – Segmentation
TMR’s research study assesses the global mineral processing equipment market for mining industry based on product and region. This report presents extensive market dynamics and progressive trends associated with different segments, and how they are influencing the growth prospects of the mineral processing equipment market for mining industry.