Market Size of Mineral Processing Equipment Industry
| 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.
