In the Middle East, the oil cycle influences the fate of other industries. The opportunities are growing impressively in this sector. Secondly, with their fast-growing population rate, these countries are exploring their mining and construction equipment using modern technologies. In order to seek new investments, many countries in the Middle East and Africa are working on new mining laws to reinforce their industry. The unified regulatory system emerged in these economies is budding steps towards the formation of world-class mining industry. In particular, UAE is at the heart of the Middle East and Africa, for mining equipment, technology, and services (METS) companies offering services to adjacent regions. This, in turn, is creating significant opportunities for fields such as construction and mining equipment to grow further.
Furthermore, gulf countries such as UAE, Saudi Arabia, and Kuwait are diversifying their economies while reducing the pressure on the oil and gas industry alone. So, the region is exploring investments and opportunities in different mining areas. The Middle East is a leading source of copper, gold, iron ore, manganese, phosphates, uranium, and other industrial rocks. As a result, mining and extraction activities are proliferating in the Middle East. This, in turn, is proliferating the demand for efficient mining and transportation machinery such as crushers and screeners. Subsequently, Middle East mobile crushers and screeners equipment market demand are thriving with huge growth.
Africa and the Middle East along with Commonwealth of Independent States collectively observed a steady export growth rate of about 2.3% in terms of volume. This rising growth rate in these regions is attributed to the growing demand for oil and gas along with other natural resources available in these regions. Consequently, the Middle East and Africa Mobile crushers and screeners equipment market size reached a value of $358.5 million in 2018. Furthermore, the demand for this market is rising with a CAGR of 6.38% over the forecast period 2019-2025.
Extractive Industries of Africa Reigning the Mobile Crushers and Screeners Equipment Market Demand
Africa is eminent for its extractive industries. The rising prospects of the industrial sector are the key to its regional growth. Though the growth prospects of these industries are varied across different African countries, the overall development of these sectors is advancing rapidly. These lucrative industries include oil and gas, mining, infrastructure, agriculture, and tourism. The share of Africa’s merchandise export value has nearly doubled i.e. accelerated from 10.3% to 19.6% during 2010-2017. This growth prospect is majorly influenced by oil and gas, natural resources, and infrastructure sectors which are dominant end-users of the mobile crushers and screeners equipment market. Latest advancements in the mobile crusher equipment market are dedicated to delivering cost-saving solutions that increase productivity. This reaps the economic benefit to the manufacturers which are further triggering the interest of manufacturers to invest in African industrial equipment market. As a result, Africa mobile crushers and screeners equipment market is growing to experience exuberant prospects in this region and experienced a regional share of 45.4% as of 2018.
Increasing Quarry Activities Dominating the Mobile Crushers and Screeners Equipment Market
Mobile crushers are prominent in quarries since ages. They offer the advantage of belt conveyor transport and eliminated road construction. This allows cost savings for the customers. Increasing use of this equipment in crushing stones of mining fields. Along with that, preparation of construction material in sites and residential buildings are proliferating the demand for quarrying activities. These activities require loading and transporting of material such as mined rock mass. Therefore, the demand for screeners equipment market is thriving with the demand for loading and transporting. Furthermore, the rising mining activities for natural resources along with oil and gas in the Middle East and Africa regions are boosting the screeners equipment market demand in quarrying. As a result, the Middle East and Africa mobile crushers and screeners equipment market demand is rising in quarry vertical and experiencing a growth rate of 7.7% during the forecast period.
Government and Global Initiatives Boosting the End-Users of the Middle East and Africa mobile crushers and screeners equipment market
The 2030 Agenda for Sustainable Development Goals initiated by the United Nations is promoting sustainable growth in Africa in multiple sectors. The adoption of these goals lauded commendable effort towards eradicating poverty, promoting global partnerships for development, structural economic transformation and related growth with industrialization, natural resources management, increasing the footprint of science, technology, and innovation. This agenda of the UN in Africa is reflecting on the development of technology and industries which are promoting the growth of infrastructural division in the region. Governments and private sectors are investing substantially in their infrastructure spending. Along with the UN, countries of Africa are also initiating programs to increase their economic growth. For instance, Nigeria aimed to become the world’s top 20 economies by 2020.
Along with that, in 2016, Saudi Arabia launched a plan called Vision 2030, in order to reduce the country’s dependence on crude oil. The country aimed to increase investments and trade activities of non-oil industries such as recreation, goods and consumer products, and the military. Furthermore, the government and private organizations’ spending on health, education, and infrastructure are expediting economic growth. These instances are boosting the economy as well as the relevant infrastructural needs of African and Middle East countries which is projecting a huge demand on the mobile crushers and screeners. Therefore, the Middle East and Africa mobile crushers and screeners equipment market are surging with the growth of infrastructure.
Key Players in the Middle East and Africa Mobile Crushers and Screeners Equipment Industry
Companies such as Sandvik A.B., Metso, Terex Corporation, Astec Companies, McCloskey International, and Kleemann GmbH held a significant part in the Middle East and Africa mobile crushers and screeners equipment market share. The industrial revolution along with government initiatives and regulations are complimenting the Middle East and Africa mobile crushers and screeners equipment market growth.
In 2019, Maatla Energy (Pty) Ltd, Coal, and Energy Company acquired a major stake in Jindal BVI LTD. From Jindal Steel and Power Company, a Mauritius conceived company owned by an Indian manufacturer. This acquisition adds a strategical advantage to the Maatla Energy which is currently developing