LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global ball mill market to grow at a CAGR of over 5% during the period 2018-2022, according to their latest market research report.
In this report, Technavio highlights the application of variable frequency drives (VFDs) in secondary grinding as one of the key emerging trends in the global ball mill market. Conventionally, VFDs were only adopted in semi-autogenous (SAG) mills. Nowadays, they are increasingly being applied to secondary grinding as well. The advent of VFDs to ball mills allows mill designers to adjust the process to local conditions, helping them in improving the comminution circuit. The growing trend of application of VFDs in ball mills will help in enhancing the grinding operation and provide increased flexibility. In the long run, this will have a positive impact on the global ball mill market.
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In this report, Technavio analysts highlight the low interest rates intensifying construction projects as a key factor contributing to the growth of the global ball mill market:
Low interest rates intensifying construction projects
In several economies, low interest rates drive apartment construction projects. However, there are chances of the global construction market having numerous projects that will lead to less tender competition and will increase the tender price. This can result in construction cost inflation. The construction cycle of an apartment is very short. This is posing a threat to the apartment construction sector. However, by 2016, other sectors such as the manufacturing sector consisted of many opportunities that grew at an exponential rate.
Along with the rising commodity prices, investments in the infrastructure sector will increase in many regions. This, in turn, will help in the growth of the mining industry. Additionally, with the growth in the technology sector, the demand for data centers is increasing.
According to a senior analyst at Technavio for unit operations, “Although the apartment sector is expected to record reduced sales, the demand for apartments is expected to rise in 2018 when compared with the situation in 2016. This shows that the construction industry has an opportunity for growth. This, in turn, will drive the demand for cement, thereby, increasing the need for ball mills.”
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Global ball mill market segmentation
This market research report segments the global ball mill market into the following products (common ball mills and planetary ball mills) and key regions (the Americas, APAC, and EMEA).
Of the two major products, the common ball mills segment held the largest market share in 2017, accounting for nearly 78% of the market. The market share for this product is expected to decrease by 2022. The fastest growing product is planetary ball mills, which will account for nearly 22% of the total market share by 2022.
APAC was the leading region for the global ball mill market in 2017, accounting for a market share of nearly 52%. By 2022, APAC is expected to witness the highest growth rate in the market.
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