Screening Equipment Market Expected to Expand at a Steady CAGR through 2028 | Key Players - Terex Corporation,The Weir Group PLC,Sandvik AB,NAWA Engineers & Consultants (P) Ltd.,Fredrik Mogensen AB,Vulcan Industries Inc.,Haver Niagara GmbH,Hillenbrand In
Below are some of the participants involved in the manufacture and building of the global Screening Equipment:
The Weir Group PLC
NAWA Engineers & Consultants (P) Ltd.
Fredrik Mogensen AB
Vulcan Industries Inc.
Haver Niagara GmbH
Hillenbrand Inc. (Rotex)
SMICO Manufacturing Inc.
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Screening Equipment Market: Regional Outlook
Screening equipment market is anticipated for positive revenue returns in the forecast period from the perspective of North America owing to developments witnessed in various end use industries including infrastructure construction, mining, and agriculture among others. The market in Europe is also expected to foresee a healthy growth in the screening equipment market in response to its demand in the mining industry that has gained traction in the Scandinavian and Russian economies. When it comes to Asia Pacific, the market is expected for an upward growth in the foreseeable future with higher focus on Chinese and Indian economies due to construction industry registering positive improvements from the past couple of years which can be beneficial in generating high demand for screening equipment. In addition to that, the screening equipment market in Australia is also expected to gain traction in the upcoming years owing to the thriving mining industry, which incidentally contributes significant share in the country’s GDP. Last but not the least, the market for screening equipment in the Middle East & Africa is expected to register high growth rates in response to booming construction industry in major economies of the region.
Screening Equipment Market: Dynamics
Screening equipment are large mechanical devices that requires large capital to own and run the equipment. Hence, it becomes imperative that the performance of the end use industry be on a growing scale so as to generate demand for the equipment. Diminishing performance in the end use industry can implement a direct impact on the growth prospects of the screening equipment. Nevertheless, there are some driving factors in the current market scenario that can reflect a healthy growth for the screening equipment market with the most important being growth of mining industry, agriculture and in particular a boom in construction industry. Growth in working class population couple with migration to urban areas has prompted increase in construction project, this factor can aid in generating demand for the screening equipment in the forecast period.
There are a couple of factors which can affect the growth of screening equipment market negatively including high capital requirement, lack of well-knit supply chain, production lead times leading to delays in deliveries among others. Other factors with low level of impact in the market are requirement of skilled personnel for its operation and lengthy maintenance times the equipment calls for affecting processes it is integrated with.
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Screening Equipment Market: Introduction
Screening equipment form a part of bulk material handling equipment family primarily utilized for the purpose of separating and segregating granulated materials based on grit sizes in order to achieve uniformity. Screening equipment employ a simple principle of agitating bulk material through sieves with predefined sizes. Screening equipment can be adopted as a stand-alone equipment for separation requirements or can be paired with crushing equipment to create a seamless system. These integrated systems are adopted in wide range of applications and cost of operation for these systems are lower when compared to utilizing stand-alone screening equipment. With high demand for screening equipment from end users especially in the bulk material handling process, the market is expected to generate ample sales revenue in the forthcoming years.
Screening Equipment Market: Insights
Growth in the construction and mining industries remains a key influencer of growth with respect to adoption of screening equipment worldwide. In addition, sales of screening equipment is likely to witness an upsurge especially from the emerging economies of the Asia Pacific. India has projected an indefinite potential for growth of the screening equipment market in its perimeter against the backdrop of growing road construction and mining activities. IBEF reveals that the country portrays attractive opportunities for screening equipment manufacturers, given its evolving construction sector. Furthermore, the infrastructure industry worldwide is likely to augment the demand for screening equipment, particularly in the development of roads, highways and airports.
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Furthermore, demand for screening solutions for bulk handling and sorting has dramatically risen over the past few years. Manufacturers of screening equipment have been offering various screening products such as mobile screens, drums screens and flat screens. They are also focusing on extending their offerings with respect to customization based on the niche requirements of their clients. That said, the use of screening equipment in other industries such as agriculture and oil and gas, which has further complemented their demand, in turn fuelling growth of screening equipment market. Albeit, their significant use across important industrial applications, increasing cost of raw materials and lack of skilled personnel and labor are likely to present an ebb to the sales of screening equipment.
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