Vibrating Screen Market growing at a stellar CAGR of over 7.3% during the forecast period 2018-2028
The global mining industry is gradually coming back on track, and is facilitating the growth of global vibrating screens market. As revealed in a new market research report by Future Market Insights, the vibrating screens which finds 70% of its total application in the construction and mining industry, is expected to witness an established growth in the upcoming years. The current demand for minerals has boosted the global vibrating screens market. The rise in demand is also reinforced by the ever booming construction industry It is estimated that GDP, construction industry, cement consumption and urbanization value will witness steady growth in all regions around the globe, especially in Asia Pacific, North America and Western Europe, which may render excellent opportunities for vibrating screen manufacturers to increase their customer base and sales revenue.
According to the market analysis by FMI, the global vibrating screens market is estimated to reach a market value of over 2,100 Mn by the end of 2028, growing at a stellar CAGR of over 7.3% during the forecast period 2018-2028.
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China’s innovation driven approach paves a trajectory towards ruling the vibrating screens market
China scores the place of a prominently ruling region in the global vibrating screens market. The region’s dominance is bolstered by The country currently holds a 28.4% market value share and is anticipated to hold a 33.8% value share by the end of the forecast period. The presence of a huge numbers of mines in this country, coupled with the growing construction sector, is pegged to drive the overall market over the forecast period. The country also has a significant number of market participants involved in the manufacturing of vibrating screens. Additionally, FMI foresees the growth of emerging economies like India, South Africa, Brazil and Chile to play key role in regional market growth owing to higher number of investment in construction and mining sectors. India’s vibration screens market is gaining momentum and is expected to grow at a CAGR of 12.6% during the forecast period, as the infrastructural development and construction activities are progressing at the an exceptional pace and is expected to continue surging in the years coming ahead. The market is expected to own bright future as many regions across the globe are still left unexplored for mining, and as the process takes place vibrating screens market will get a hold of many new opportunities.
Industry Players to Maximize Profits on Trends like Mobile Vibrating Screens
The global vibrating screens market is highly fragmented and is driven majorly by the tier 2 players. The key manufacturer at the tier 2 accounts for 35-45% share of the overall market. Players with target product revenue under US$ 10 Mn are classified as Tier 2 players. Some of these leading companies are AURY Australia Pty Ltd, CARRIER VIBRATING EQUIPMENT, INC., McLanahan Corporation, Southwest Milling and Industrial Company (SMICO), Xinxiang Zhenying Mechanical Equipment Co., Ltd, Derrick Corporation, Midwestern Industries Inc., Shandong Xinhai Mining Technology & Euipment Inc, Star Trace Private Limited etc. These manufacturers are seen to be capitalizing on the latest trends, especially mobile vibrating screens. It offers new opportunities as the demand for mobile screens is expected to continue surging in the coming years too. There are many more such trends, companies are eyeing on for the coming years.
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Low penetration and limited investments to serve as a hurdle in growth of vibrating screens market
Despite being highly prevalent in numerous industries, the vibrating screens market may face lower demand in the regions with lesser awareness as many industrial areas may avoid its use due to long lifespan of equipment and high costs associated with it. Many smaller players have been struggling with the high costs of vibrating screens, and thus avoiding its use or reducing the maintenance cost of equipment. Capital investments in the industry remain low. Dramatic fluctuations in the commodity prices during the recent years have curtailed investment sentiments in the mining sector. In most Latin American counties, such as Brazil, Mexico, Colombia, Peru, Chile and El Salvador, economic activities have been significantly impacted due to the downturn of the mining industry. Furthermore, exploration expenditure has been consistently declining over the past few years, primarily owing to sluggish economic conditions. Thus, limited investments in the mining sector are anticipated to hamper the growth of the vibrating screen market
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