High Pressure Grinding Roller Market Worth $387.3 Million By 2022
The High Pressure Grinding Roller (HPGR) market is expected to reach USD 387.3 million by 2022, according to a new report by Grand View Research, Inc. Increasing mining industry and need for energy efficient solutions worldwide is expected to contribute to revenue growth.
According to Coalition for Eco-Efficient Comminution (CEEC), crushing and grinding consumes around 53% of the total energy used by mining sites, which accounts over 10% of overall mining cost. Additionally, mining sites are also shifting towards remote areas as accessible ore reservoirs are almost exhausted.
These remote areas have limited access to energy, infrastructure and labor, thus increasing the need for efficient comminution solutions. Rising energy cost worldwide is also compelling companies to lower their consumption level to cut costs.
Growth of the cement and mineral industry is expected to boost its demand over the forecast period. Increase in consumer demand for metals such as gold and silver is expected to favor high pressure grinding roller industry growth over the forecast period. Gold demand is expected to be stable owing to its financial, cultural and emotional value, mostly in Asia Pacific. This technology also offers benefits such as low operating costs, increased lifetime, selective liberation, high throughput rates, and easy maintenance and control.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/high-pressure-grinding-roller-market
According to Coalition for Eco-Efficient Comminution (CEEC), crushing and grinding consumes around 53% of the total energy used by mining sites, which accounts over 10% of overall mining cost. Additionally, mining sites are also shifting towards remote areas as accessible ore reservoirs are almost exhausted.
These remote areas have limited access to energy, infrastructure and labor, thus increasing the need for efficient comminution solutions. Rising energy cost worldwide is also compelling companies to lower their consumption level to cut costs.
Growth of the cement and mineral industry is expected to boost its demand over the forecast period. Increase in consumer demand for metals such as gold and silver is expected to favor high pressure grinding roller industry growth over the forecast period. Gold demand is expected to be stable owing to its financial, cultural and emotional value, mostly in Asia Pacific. This technology also offers benefits such as low operating costs, increased lifetime, selective liberation, high throughput rates, and easy maintenance and control.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/high-pressure-grinding-roller-market