Pulverizing Machinery Market in Mining Industry: Introduction
A pulverizing machine is used to grind different types of mining materials in the mining industry. Pulverization is currently the favored method of preparing coal for burning. Mechanically pulverizing coal into a fine powder enables it to be burned like a gas, thus allowing more efficient combustion.
Key Drivers of Pulverizing Machinery Market in Mining Industry
- The mining and metals industry is recovering from one of its most difficult periods in decades. Economic slowdown, market volatility, and a downturn in commodity prices have created a new normal where cost cuts, automation, and operational efficiency are vitally important. However, it began a recovery from 2017, while in 2019, investment into production facilities reached all-time high during the last 10 years. Therefore, the recovery witnessed by the mining industry boosted the demand for mining equipment, such as pulverizers, in 2019.
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Restrains in Pulverizing Machinery Market in Mining Industry
- The COVID-19 pandemic has had an immediate impact on the global economy, and that impact goes across all industries, including mining. Some industry players in mining are projected to be more affected than others by the new set of challenges facing the industry. Initially, the impact is on daily operations and ways of working. In addition to measures such as social distancing, have forced miners to have limited access to their sites and thus operating with minimal staff. Therefore, this scenario has directly impacted the new demand for pulverizers in the mining industry. However, countries relaxing their lockdown rules and resuming business activities normalized mining activity by the end of 2020, which was followed by recovery in metal prices, and subsequently, propelled the sales of pulverized machinery.
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Opportunities in Pulverizing Machinery Market in Mining Industry
- Miners and metal producers are likely to witness more favorable pricing environment in 2024, where the mineral prices are expected to average higher in 2024 on a year-on-year supported by the broader and deeper global economic recovery, as COVID-19 vaccines are made available. Access to vaccines is also estimated to help reduce the disruptions to operations that were witnessed in 2020 in multiple key mining countries such as Peru and South Africa. Moreover, the ongoing acceleration of de-carbonization strategies and corporate environmental, social, and governance initiatives will likely drive demand for metals used in renewables. Consequently, these developments are estimated to provide considerable opportunity for the pulverized machinery market in the mining industry.
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Asia Pacific to Dominate Pulverizing Machinery Market in Mining Industry
- Asia Pacific is estimated to witness robust demand for mining pulverized machinery, driven by the rapid recovery of economies from the COVID crises, improved commodity prices, and government supportive policies to promote mining activity. The economy of China witnessed strong recovery since lockdowns were lifted in April 2020, ramping up mining production. This rate of growth is anticipated to continue in 2024, driven by the government stimulus, especially in the infrastructure sector that is likely to continue to support the demand for metals and minerals. The Government of India liberalized the mineral sector in order to boost mining activity in India, paving the way for large private investments through auction of nearly 500 leases. This, in turn, is anticipated to double production in the next 4-5 years.
Key Players Operating in Pulverizing Machinery Market in Mining Industry
The global pulverizing machinery market in mining industry market is fragmented with presence of numerous small players. A few of the key players operating in the global pulverizing machinery market in mining industry are:
- Retsch GmbH
- FLSmidth
- Williams Patent Crusher and Pulverizer Co., Inc.
- Shanghai SCM Company
- XINHAI MINING TECHNOLOGY & EQUIPMENT INC
- Stedman Machine Company
- LOESCHE GmbH
- American Pulverizer Co.
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