Mineral Processing Equipment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mineral Processing Equipment Market Analysis
The Mineral Processing Equipment Market was valued at USD 19.93 Billion in 2021 and is projected to grow to 27.48 Billion by 2027, registering a CAGR of 5.5% in terms of revenue during the forecast period.
The outbreak of the COVID-19 pandemic disrupted the political, economic, financial, and social structures across the globe. Due to the pandemic, demand for various equipment stopped from many industries, including mining. A major disruption in the supply chain adversely affected the market. However, the economy is recovering from the losses and the mineral processing equipment market is expected to witness major growth during the forecast period.
Over the medium term, globally, advancements in the machinery and equipment for mining have increased the production of minerals, such as iron, copper, and other ores. This growth has seen large-scale expansions and projects. With the increase in infrastructure and manufacturing sectors, the demand for mining equipment has gone up, resulting in an increased level of mining activity in various regions.
Rising demand for metals such as steel, iron, and aluminum across infrastructure sectors is likely to increase the demand for mineral processing equipment during the forecast period. China and the United States are the most significant major coal-producing counties. However, China saw its sales slump between 2012 to 2016. Although in 2021, Australia and Russia saw a steady increase in coal production in the past decade. Also, Iron ore and Bauxite remain the fastest growing industries in the mineral processing equipment market.
Currently, investors purchase and hold mineral investments as well. Through mutual funds and shares, minerals investments are available to most of the public. However, challenges like difficulty involved in developing and expanding mining activity, strict government regulations such as environmental concerns, increase in the cost of mining, and safety standards can restrain the market growth.
Mineral Processing Equipment Market Trends
This section covers the major market trends shaping the Mineral Processing Equipment Market according to our research experts:
Iron and Bauxite poised to be the fastest-growing segments
Iron is critically essential to the construction and other manufacturing industry. In the construction industry, 90% of all refined metal is accounted for by steel. Although, falling ore grades and high production costs are hindering production in some parts of the world.
In 2021, the total volume of usable iron ore produced was around 2.6 billion metric tons across the globe. Australia is one of the leading iron ore producing countries in 2021, the country produced around 900 million metric tons of usable iron ore in Australia. In 2020, global iron ore production increased from 3.3 billion tonnes. Also, crude iron production has remained stagnant for over a decade but hasn't seen a slowdown in demand.
Iron production in Brazil and Australia has seen a massive increase, with companies investing in new mines to replace older ones. For instance, BHP approved 4 billion USD for iron ore-related projects in Western Australia, indicating growth for iron ore processing equipment.
- In August 2022, NMDC Ltd announced achieving 46 million tonnes of Iron ore production by the end of the year 2022 in India.
Bauxite is a key component in the production of aluminum. In 2021, India, Brazil, China, Australia, and Guinea produced around 300 million tons and were all seeing an increase in bauxite production since 2012. Surprisingly, Guinea was the fourth-highest producer of aluminum. Other West African countries had seen a rise in bauxite production almost double from 30.8 million tons in 2019 to 89.5 million metric tons in 2021. The increasing demand for these metals will see a rising mining activity which will help demand for new mineral processing equipment.
Demand for Sustainable Equipment is Driving Market Growth in Europe
Demand for copper is predicted to increase by 2.6% annually until 2027, while lithium by almost 650% by 2027. Even rare earth metals will see a growth of 3.5% per annum, rising to around 150,000 metric tons in 2021. But various governments like the EU Parliament and the Council have started legislating targeted CO2 emissions post-2019. The parliament had earlier proposed a 20% reduction in CO2 emissions between 2020 - 2025. But now parliament has voted to increase the reduction rate to 40%. Also, stringent restrictions have been put under this new law.
Due to falling ore grades at the surface level, the past mining of equipment is not workable with current climatic disruptions and government regulation. This gives rise to sophisticated analytical techniques and equipment. New technologies are being explored to be even able to detect more significant concentrations of minerals in a small surface area. These technologies include laser fluorescence scanning and portable X-ray fluorescence that can determine levels of minerals and allow differential leaching techniques used for exploration.
The rise in production of iron ore across the region is likely to increase the demand for mineral processing equipment during the forecast period. For instance, In 2021, The iron ore production in Sweden is around 14.4 million tonnes.
However, the mining industry had been under pressure with falling commodity prices and declining cash flow. As a result, conducting a pre-feasibility study to determine the theoretical economics of the ore deposit has become even more critical. This is being achieved with breakthrough research with the help of technological innovations that are transforming the essential aspects of mining. All these developments are expected to help demand mining processing equipment.
Mineral Processing Equipment Industry Overview
The Mineral Processing Equipment Market comprises global players such as FLSmidth & Co. A/S, Komatsu Ltd., Metso Oyj, FEECO International, Inc., and Multotec Pty Ltd. To have the edge over their competitor's equipment manufacturers are making joint ventures, partnerships, and launching new products with advanced technology. For instance,
- In May 2022, Sandvik AB acquired the mining-related business of Schenck Process Group (SP Mining). Through this acquisition, SP Mining reported in Stationary Crushing and Screening, a division of Sandvik Rock Processing Solutions (SRP).
- In July 2021, FLSmidth acquired the ThyssenKrupp Industrial Solutions AG mining business for a total consideration of EUR 325 million.
Mineral Processing Equipment Market Leaders
FLSmidth A/S
Komatsu Ltd
Metso Outotec
FEECO International, Inc.
Multotec
*Disclaimer: Major Players sorted in no particular order
Mineral Processing Equipment Market News
- In September 2022, Marathon Gold Corporation awarded Metso Outotec with orders for key processing equipment for the Valentine Gold Project in Canada. Metso Outtec introduced VF SeriesTM grizzly feeder, a Nordberg jaw crusher, Planet PositivePremier SAG and ball mills, a Mill Reline Machine (MRM), vibrating screens, and a high-rate tailings thickener with a ReactorwellTM feed system.
- In August 2022, Metso Outotec expanded its mineral processing testing capabilities in York, USA. The company introduced Geminex digital twin allows Metso Outotec to effectively simulate and test alternative operational scenarios and parameters based on accurate process models and real data.
Mineral Processing Equipment Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Billion)
5.1 By Mineral Mining Sector
5.1.1 Bauxite
5.1.2 Iron
5.1.3 Lithium
5.1.4 Others
5.2 By Equipment
5.2.1 Crushers
5.2.2 Feeders
5.2.3 Conveyors
5.2.4 Drills & Breakers
5.2.5 Others
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 FLSmidth A/S
6.2.2 Komatsu Ltd
6.2.3 Metso Outotec
6.2.4 FEECO International, Inc.
6.2.5 Multotec Pty Ltd.
6.2.6 McLanahan Corporation
6.2.7 Sandvik AB
6.2.8 ThyssenKrupp AG
6.2.9 Multotec
6.2.10 Nordberg Manufacturing Company
6.2.11 Terex Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mineral Processing Equipment Industry Segmentation
Mineral processing equipment is designed to separate ores and mineral products from the rock and gangue. Mineral processing equipment is used in a process, wherein ores undergo processing to yield a more concentrated material.
Mineral Processing Equipment is segmented into Mineral Mining Sector, equipment, and geography.
Based on the Mineral Mining Sector, the market is segmented into bauxite, Iron, Lithium, and others.
Based on the equipment, the market is segmented into Crushers, Feeders, Conveyors, Drills & Breakers, and Others.
Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa.
For each segment, the market sizing and forecast have been done on the basis of value (USD Billion).
| By Mineral Mining Sector | |
| Bauxite | |
| Iron | |
| Lithium | |
| Others |
| By Equipment | |
| Crushers | |
| Feeders | |
| Conveyors | |
| Drills & Breakers | |
| Others |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Mineral Processing Equipment Market Research FAQs
What is the current Mineral Processing Equipment Market size?
The Mineral Processing Equipment Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Mineral Processing Equipment Market?
FLSmidth A/S, Komatsu Ltd, Metso Outotec, FEECO International, Inc. and Multotec are the major companies operating in the Mineral Processing Equipment Market.
Which is the fastest growing region in Mineral Processing Equipment Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Mineral Processing Equipment Market?
In 2024, the Asia-Pacific accounts for the largest market share in Mineral Processing Equipment Market.
What years does this Mineral Processing Equipment Market cover?
The report covers the Mineral Processing Equipment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mineral Processing Equipment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mineral Processing Equipment Industry Report
Statistics for the 2024 Mineral Processing Equipment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mineral Processing Equipment analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
