According to Credence Research’s current market research study “The overall vibrating screen market is set to grow with a CAGR of 8.2% over the forecast period and is expected to reach US$ 2.25 billion by 2027.”
The global market for vibrating screens is strongly driven by increasing urbanization and an increasing population. As the population is increasing the demand for new infrastructure, the number of buildings, hostels, hotels, hospitals and other industries is increasing, resulting in the growth of vibrating material processing screening systems. Vibrating screens have a variety of applications in agriculture, construction and mining, recycling, and other processes for separation and quality maintenance. The mining industry is gaining momentum due to the increasing demand for minerals worldwide, which is a key driver of the market.
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In addition, the various vibrating screen manufacturers either take the form of a direct sale to the user or a distribution channel. Companies provide customized products designed to meet the requirements of the customer or user. This service opens new avenues for players on the market of vibrating screens across the globe. However, the initial cost of setting up a manufacturing facility for the vibrating screen market is expected to hinder the market growth.
Based on the product type, the market for vibrating screens was segmented as a linear vibrating screen, a circular vibrating screen and an elliptical vibrating screen. Circular vibrating screen accounts for more than 25% of the market share due to its high demand in various industries, including mineral mining, construction, steel mills, coal mining, metal mining, and many other industries.
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The rest of the world is expected to be the fastest-growing market due to the presence of growing and developing countries in the region, such as Latin America, the Middle East and Africa, and is expected to grow by 9.6 percent during the forecast period. In addition, the increasing infrastructure, growing mining and construction, agricultural facilities and the government’s initiative to develop infrastructure are some of the key 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.