Mobile Crushers and Screeners Market Size

Mobile Crushers and Screeners Market Size

Mobile Crushers and Screeners Market size was valued at USD 2.3 billion in 2022 and is projected to grow at a CAGR of over 4.5% between 2023 and 2032. The expanding mining sector in globally is driving the market growth.

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Asia Pacific region is growing significantly expanding in mining sector. India has large reserves of iron ore, bauxite, chromium, manganese ore, baryte, rare earth, and mineral salts. The metals & mining sector in India is expected to witness a major transformation in the future owing to reforms, such as the Make in India Campaign, Smart Cities & Rural Electrification, and the focus on building renewable energy projects under the National Electricity Policy as well as the rise in infrastructure development. As of July 2021, the Indian Ministry of Steel entered 57 MoUs with 27 companies, resulting in an investment of USD 3,000 million. Over the next five years, this initiative is expected to expand specialty steel production capacity by approximately 25 million metric tons and generate over 60,000 employment opportunities.

Technological advancements in North America are driving the market progress. As industries prioritize advanced equipment for material processing, the demand for mobile crushers and screeners is on the rise, significantly expanding the market. For instance, in March 2022, Sandvik launched a new wheeled mobile crushing and screening range in North America. The new product range combines cutting-edge technology, user-friendly operations, and low operating costs on a single chassis, simplifying investments for customers. Quick setup, trouble-free operations, and easy maintenance make it a convenient choice for businesses seeking efficient material processing solutions.

High equipment and maintenance costs pose a significant challenge in the mobile crushers and screeners market. The initial investment in these machines can be substantial, deterring some potential buyers. Also, the ongoing maintenance and repairs can be expensive, impacting the total cost of ownership. Businesses need to carefully manage these expenses to ensure profitability. Cost-effective maintenance practices, such as preventive measures & regular inspections, are essential to mitigate this challenge and maximize the efficiency of mobile crushers & screeners.