Boom of Construction Industry Globally to Accelerate Deployment of Mobile Crushers and Screeners.
The boom in the construction industry across the globe has given the mobile crushers and screeners market the much needed boost. The growth in the mining sector has also triggered high demand for this heavy mobile equipment. Mobile crushers and screeners are newly designed rock crushing and screening plants, which are flexible, convenient and strong in mobility. These equipment are mainly designed to save a large construction capital and relocation cost of crushing and screening plants.
Mobile crushing and screening equipment's are mainly consumed by construction and mining industries. In the construction industry it is prominently used for the processing and manufacturing of aggregates. Thereby, the growing construction industry coupled with mining industries of various emerging countries across the globe is going to create significant demand for mobile units in the future.
In order to meet the growing demand from various sectors, the players operating in the global mobile crushers and screeners market are enhancing the quality of the products by implementing new technologies and adding features at a competitive price point. They are also focusing on long-term contracts with different end users that will provide stability in terms of revenue generation and opportunities for growth. Several companies are also looking forward to introduce application-specific products in the market with top notch preference to research and development.
According to a recent report published by Persistence Market Research (PMR), the global mobile crushers and screeners market is estimated to witness a CAGR of 7.4% from 2018 to 2026. In 2017, the market was valued at US$ 2,168.6 Mn and is expected to touch a valuation of US$ 4,073.4 Mn by the end of 2026.
Decreasing Transportation Cost to Bolster Demand in the Coming Years
General reduction in transportation costs due to the introduction of mobile crushers and screeners is the key driver responsible for the growth of the overall market across the globe. Mobile crushers and screeners can be taken to any desired location to be used for processing at the mining and construction site, reducing time and money involved in the transportation of raw materials for further processing. Although transportation cost currently holds a moderate impact on the market, fostering construction and mining activities are expected to play an important role in near future, which will reportedly drive the sales of mobile crushers and screeners.
Low Penetration Rate to Obstruct Growth of Global Mobile Crushers and Screeners Market
Despite being used in several end-use industries, mobile crushers and screeners have a low penetration rate due to the high durability of the equipment. Moreover, the high cost of mobile crushers and screeners and low maintenance cost will further decrease their penetration rate in different end-use industries. Thereby, the low penetration rate of mobile crushers and screeners, owing to their high cost and long life, is anticipated to be a major factor hampering the growth of the market in the future.
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