Crushing & Screening Equipment Market Trends
Growth Drivers
- Rising Commercial and Industrial Applications: Growth in infrastructure and construction projects comprising building construction and other industrial applications is driving the demand for crushing and screening systems. This growth is backed by the rise in urban population with advanced living standards around the globe. As per The World Bank, the overall urban population (% of total population) was 55.7 in 2019 worldwide. Moreover, the urban population is estimated to witness an average annual rate of change of 1.68 during 2018-2030, and 1.28 over 2030-2050 (as stated by United Nations). Additionally, numerous regulating organizations are significantly investing in the infrastructure and technological innovations around the world. These are some of the significant factors that are estimated to boost the growth of the crushing and screening systems market.
Challenges
- Concerns Related to CO2 Emissions: The usage of diesel as operation fuel in crushing and screening systems results in CO2 emission, further raising the concerns on environment safety. Moreover, stringent safety regulations due to hazardous nature of work might act as barriers to the growth of the crushing and screening systems market.
Crushing and Screening Systems Market: Key Insights
The global crushing & screening equipment market was valued at USD 2,114.61 million in 2019 and is anticipated to grow up to USD 3,969.92 million by 2028, at a CAGR of 7.25% during the forecast period, i.e., 2020-2028. This growth of the market can be attributed to rising construction activities and infrastructure projects across the globe. Moreover, the continuous innovation and development in crushing and screening equipment that use new and improved technologies in order to reduce carbon emissions, is driving the demand for these equipment.
On the basis of geography, the global crushing and screening equipment market is segmented into North America, Western Europe, and Rest of the World. Among the market in these regions, the Western Europe crushing and screening market held the second highest position in terms of value during 2019 and is further estimated to cross market valuation of USD 570 Million by the end of 2021. The increase in investments from government and private sector, and spending in construction sector are some of the notable factors that are driving the growth of the market in this region. In western Europe, the U.K. crushing and screening equipment market is estimated to witness highest growth rate throughout the forecast period on the back of rise in repair and maintenance pertaining to the buildings, and growing construction industry. CLICK TO DOWNLOAD SAMPLE REPORT
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.4% |
|
Base Year Market Size (2024) |
USD 3.63 billion |
|
Forecast Year Market Size (2037) |
USD 9.18 billion |
|
Regional Scope |
|
