According to a new market research report published by Credence Research “Global Vibrating Screen Market (Product Type (Linear Vibrating Screen, Circular Vibrating Screen, Elliptical Vibrating Screen); Drive Type (Direct Drive, Indirect Drive); End-Use (Mining, Construction, Recycling, Agriculture, Others)) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”, the overall vibrating screen market is set to grow with a CAGR of 8.2% during the forecast period and is expected to reach US$ 2.25 Bn by 2027.
The global vibrating screen market is highly driven by increasing urbanization and increasing population. As the population is increasing the requirement of new infrastructure, building, hostels, hotel, hospitals and other industry is growing that results in the growth of the vibrating screening systems for processing the material. Vibrating screens have various applications in agriculture, construction and mining, recycling, and others for separation and quality maintenance process. The mining industry is gaining pace due to increasing requirement of minerals globally, which is a major factor for driving the market.
Furthermore, various vibrating screen manufacturers either adopt a way of directly sale to the user or with a distribution channel. The companies provide customized products designed as per the requirement of the customer or user. This service opens new avenues for the players operating in the vibrating screens market across the globe. However, the in initial cost for setting up the manufacturing facility for vibrating screen market is expected to hinder the market growth.
Based on product type, the vibrating screen market has been segmented as linear vibrating screen, circular vibrating screen, and elliptical vibrating screen. The circular vibrating screen accounts the more than 25% of the market share due to its high demand in various industries including mineral mining, construction industry, steel mills, coal mining, metal mining, and many other industries.
Rest of the World is expected to be the fastest growing market due presence of growing and developing countries present in the region such as Latin America, Middle East, and Africa and is expected to grow with a CAGR of 9.6% during the forecast period. Further, the increasing infrastructure, growing mining and construction, agriculture facilities and initiative taken by the government for the development of the infrastructure are some of the major factors for the growth of the market in the region.
Some of the prominent players operating in the vibrating screen market include Metso Corporation, Osborn Engineered Products Sa (Pty) Ltd., Schenck Process Holding GmbH, Terex Corporation, IFE Aufbereitungstechnik GmbH, McLanahan Corporation, JÖST GmbH + Co. KG, Carrier Vibrating Equipment, Inc., Vibramech (Pty) Ltd., Aury Australia Pty Ltd., Sinfonia Technology Co., Ltd and Elgin Equipment Group.
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