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Global Rail Wheel and Axle market expanding at a CAGR of 3.72% during the period from 2015 to 2023

Jan 3rd 2019 at 3:51 AM

In order to study the various trends and patterns prevailing in the concerned market, Market Research Reports Search Engine (MRRSE) has included a new report titled “Rail Wheel and Axle Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future.

The demand for mobile crushers and screeners is witnessing a steady rise across the world, thanks to the significant growth in the construction industry, globally. The increasing urbanization in emerging economies is likely to boost construction activities significantly, thereby fueling the demand for these crushers and screeners over the next few years. The escalating number of non-residential projects in emerging economies is also expected to drive the demand for these crushers and screeners in the years to come. However, the rising economic instability in various developed nations may hamper their adoption in the near future.

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Overall, the opportunity in the mobile crushers and screeners market looks healthy, expanding at a CAGR of 3.72% during the period from 2015 to 2023 and increasing from US$2.08 bn in 2014 to US$2.6 bn by 2023.

The global market for mobile crushers and screeners is broadly segmented into Europe, Asia Pacific, North America, and the Rest of the World. Asia Pacific led the demand for mobile crushers and screeners in 2014 with a share of around 44%. Over the forecast period, the region is likely to remain the key consumer with its share increasing to approximately 46% by 2023. The rapid infrastructural developments in China and India are the primary driving forces behind the rising demand for mobile crushers and screeners in Asia Pacific.

Other regions, Europe being exception, are also expected to register strong growth in the demand for mobile crushers and screeners in the years to come. The increasing investments in the construction industry are likely to boost the application of these crushers and screeners in the U.S., Canada, and Mexico, whereas the growing urbanization is expected to influence their demand in the UAE, Brazil, Nigeria, and Argentina. On the other hand, the economic slowdown in Europe is projected to result in the decline in construction activities, thereby decreasing the demand for these crushers and screeners.

The opportunity for mobile crushers and screeners in Asia Pacific is estimated to increase at a CAGR of 3.16% between 2015 and 2023, rising from US$0.9 bn in 2014 to US$1.2 bn by the end of the forecast period.

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Mobile crushers and mobile screeners are the two main products of this market. Among the two, mobile crushers report a higher demand than mobile screeners. In 2014, the former accounted for a share of 72.68% against 27.32% of the latter in the overall market. Analysts expect the demand for mobile crushers to increase rapidly over the coming years, owing to the rapid growth in building and road construction activities.

The opportunity in mobile crushers is projected to increase from a value of US$1.5 bn in 2014 to US$2.0 bn by 2023, rising at a CAGR of 3.18% during the period from 2015 to 2023.

The key manufacturers of mobile crushers and screeners across the world are Atlas Copco Group, Anaconda Equipment International Ltd., McCloskey International Ltd., Hartl Property Holding GmbH, Metso Corp., Kleemann GmbH, Portafill International Ltd., Sandvik AB, RUBBLE MASTER HMH GmbH, and SBM Mineral Processing GmbH.

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