Cone Crusher Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, China, Japan, Germany, UK - Size and Forecast 2024-2028

Cone Crusher Market Size 2024-2028 

The cone crusher market size is forecast to increase by USD 909.94 million at a CAGR of 5.5% between 2023 and 2028.

• The market is experiencing significant growth due to various trends and drivers. One of the primary drivers is the increasing use of artificial sand for construction work. Cone crushers are widely used for producing high-quality artificial sand, making them indispensable in the construction industry. Additionally, the demand for crushing equipment that emits less carbon is on the rise. This trend is being fueled by growing environmental concerns and regulations. Advanced building materials, such as recycled aggregates, are gaining popularity due to their environmental benefits and cost savings. Furthermore, environmental issues related to crushing equipment are also influencing market growth, as manufacturers are investing in technologies to reduce emissions and improve efficiency. These factors are expected to drive the market's growth in the coming years.

What will be the Size of the Market During the Forecast Period?

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• The market is experiencing significant growth due to the increasing demand for infrastructure development and industrialization. Urbanization and the expansion of roads and railways are driving the need for aggregates and concrete, leading to an increased requirement for crushing equipment. Cone crushers, with their compression type design, are popular choices due to their efficiency and ability to produce a wide range of particle sizes. Skilled labor is a critical factor in the market. The operation and maintenance of these machines require specialized knowledge and expertise.
• In addition, this trend is expected to increase the demand for portable-wheeled and portable-tracked mounted cone crushers. Industrialization and mining are significant industries that contribute to the growth of the market. The mining sector requires large quantities of crushed material for various applications, making cone crushers an essential piece of equipment. Climatic changes and the need for mobility have led to the development of cone crushers that can operate in extreme conditions and be easily transported. The market can be segmented based on sales type into new equipment sales and aftermarket sales. New equipment sales are driven by the demand for the latest technology and features, while aftermarket sales are fueled by the need for replacement parts and maintenance services.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Source
  • Diesel
  • Electrical
  • Hybrid
• Application
  • Mining
  • Construction
  • Recycling
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • UK
  • South America
  • Middle East and Africa

By Source Insights

• The diesel segment is estimated to witness significant growth during the forecast period.

Diesel-powered cone crushers offer significant advantages in construction applications, particularly in remote locations where access to a consistent electric power source is limited. These crushers utilize a diesel engine to power both the crusher and its hydraulic systems, providing the necessary energy for operation. The diesel engine's versatility and mobility enable easy transportation to various job sites. Key factors contributing to the revenue superiority of diesel-powered cone crushers over electric and hybrid models include their applicability in off-grid locations and the ease of setting up and relocating the equipment. Construction projects requiring road improvement and bridge construction in remote areas frequently benefit from the use of diesel-powered cone crushers.

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The diesel segment was valued at USD 1.30 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 36% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in APAC is projected to experience significant growth between 2020 and 2028 due to the region's high demand for construction equipment. This demand is driven by extensive infrastructure development projects in China, India, and other Southeast Asian countries. Governments in these regions have announced plans to build roads, airports, and railway lines, which will require large quantities of sand and gravel, thereby fueling the demand for cone crushers. From 2015 to 2025, China and India are expected to implement the majority of these infrastructure projects, contributing to the market's growth. The construction sector's expansion in APAC is a key factor in the market's growth trajectory.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of Cone Crusher Market?

Use of artificial sand for construction work is the key driver of the market.

• The market is experiencing significant growth due to the increasing demand for construction and infrastructure projects, particularly in the areas of roads and railways, tunnels, and bridge construction. Industrialization and urbanization have led to a surge in the need for aggregates, concrete, and other construction materials, driving the demand for cone crushers. These compression type machines are essential for processing raw materials into smaller pieces for use in construction operations. Skilled labor is required for the maintenance and operation of both stationary and portable cone crushers, including portable-wheeled and portable-tracked mounted models. New equipment sales and aftermarket sales are significant revenue streams in the market.
• In addition, climatic changes and the need for enhanced cone crushers for improved crushing efficiency have led to the development of automated machines. Mining operations and material processing also contribute to the market growth. However, market challenges include the high cost of equipment maintenance and wear parts, as well as government expenditures on ready-mix concrete and precast production. Market opportunities include the increasing demand for aggregate and raw material extraction, as well as the need for increased construction efficiency. Despite these opportunities, market restraints include the negative impact of sand mining on the environment and the depletion of natural sand resources. The market is expected to continue growing due to the increasing demand for construction materials and the need for efficient material processing solutions.

What are the market trends shaping the Cone Crusher Market?

Demand for crushing equipment with less carbon emissions is the upcoming trend in the market.

• The market is experiencing significant growth due to the increasing industrialization and urbanization, leading to a surge in mining and recycling activities. Skilled labor is in high demand for the operation and maintenance of stationary, portable-wheeled, and portable-tracked mounted cone crushers. The sales type includes new equipment sales and aftermarket sales, catering to the needs of roads & railways, tunnels, and various construction projects. Climatic changes and the need for enhanced cone crushers have led to the development of more efficient compression type machines. The feed material is crushed in the crushing chamber through an eccentric motion, reducing the size of the raw material.
• Moreover, the mantle and concave are essential wear parts that require regular maintenance for optimal crushing efficiency. Government expenditures on infrastructure projects, such as bridge construction and concrete production, have boosted the demand for cone crushers in the ready-mix concrete and precast production industries. Automated machines have streamlined construction operations, reducing manpower requirements and construction time. Market growth factors include the increasing demand for aggregates and concrete, while market challenges include the high cost of equipment and the need for regular maintenance and wear parts replacement. Market opportunities lie in the increasing demand for mobility and flexibility in crushing equipment, as well as the growing trend towards sustainable and eco-friendly construction practices.

What challenges does Cone Crusher Market face during the growth?

Environmental issues related to crushing equipment is a key challenge affecting the market growth.

• The market encompasses various types of compression-type machines used for crushing and processing minerals and aggregates in industries such as mining, recycling, and construction. Skilled labor is essential for the operation and maintenance of these machines, which come in stationary, portable-wheeled, and portable-tracked mounted configurations. New equipment sales and aftermarket sales, including wear parts and maintenance services, represent significant revenue streams in this market. Industrialization and urbanization have driven the demand for cone crushers in sectors like roads & railways, tunnels, and bridge construction. Climatic changes and construction efficiency concerns have led to the development of enhanced cone crushers, which offer improved crushing efficiency and reduced material processing time.
• However, challenges such as high energy consumption, environmental concerns, and raw material demand fluctuations pose market restraints. The market growth factors include increasing government expenditures on infrastructure projects, the need for ready-mix concrete and precast production, and the automation of crushing operations. Mobility and portability are crucial factors in the market, with portable-wheeled and portable-tracked mounted crushers offering flexibility for construction sites and mining operations. Market opportunities lie in the development of more energy-efficient and eco-friendly cone crushers, as well as the integration of IoT technologies for remote monitoring and predictive maintenance. In conclusion, the market is a dynamic and evolving industry that plays a crucial role in various industries, from mining to construction.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast , partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Astec Industries Inc
• FLSmidth and Co. AS
• Henan Liming Heavy Industry Science and Technology Co.,Ltd.
• Jiaozuo Zhongxin Heavy Industrial Machinery Co.,Ltd.
• McCloskey International Ltd.
• Metso Outotec Corp.
• Minyu Machinery Corp.
• PICSON Construction Equipments Pvt. Ltd.
• Puzzolana Machinery Fabricators LLP
• Sandvik AB
• Shenyang Northern Metso Heavy Industry Machinery Co., Ltd
• Shibang Industry and Technology Group Co. Ltd.
• Shree Conmix Engineers Pvt. Ltd.
• Terex Corp.
• Tesab Engineering Ltd.
• The Weir Group Plc
• thyssenkrupp AG
• Westpro Machinery Inc.
• WIRTGEN INTERNATIONAL GmbH
• PROPEL INDUSTRIES

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

Cone crushers are compression type machines used extensively in the mining, aggregates, and recycling industries for crushing various types of feed materials. These machines are available in different configurations, including stationary, portable-wheeled, and portable-tracked mounted. The market is driven by several factors, including industrialization, urbanization, and infrastructure development. Industrialization and Urbanization: Industrialization and urbanization have led to an increased demand for construction materials, particularly in emerging economies. The construction sector's growth is fueling the demand for cone crushers in the production of aggregates and concrete. Urbanization is also driving the need for mobility in crushing equipment, leading to the popularity of portable cone crushers.

In addition, mining and Recycling: Mining operations rely heavily on cone crushers for raw material extraction and processing. The market for cone crushers in mining is expected to grow due to the increasing demand for minerals and metals. In the recycling industry, cone crushers are used to process waste materials into valuable aggregates. The recycling sector's growth is driven by the need to reduce landfill waste and the rising demand for sustainable construction materials. Market Dynamics: the market is influenced by several factors, including government expenditures on infrastructure projects, raw material demand, and construction operations' manpower and construction time. Enhanced cone crushers with automated machines and improved crushing efficiency are gaining popularity in the market.

Furthermore, government Expenditures: Government expenditures on roads and railways, tunnels, and bridge construction are driving the demand for cone crushers in the construction industry. The demand for cone crushers is expected to increase as governments invest in infrastructure projects to boost economic growth. Aggregates and Concrete: The demand for aggregates and concrete is a significant factor driving the market. Aggregates are used extensively in the production of concrete, and cone crushers are used to process the raw materials into the required size. The construction sector's growth is expected to fuel the demand for cone crushers in the production of aggregates and concrete.

In addition, the market presents several opportunities for growth, including the increasing demand for sustainable construction materials, the need for mobility in crushing equipment, and the growing popularity of automated machines. However, the market also faces challenges such as the high cost of wear parts and equipment maintenance, and the impact of climatic changes on crushing efficiency. Conclusion: the market is driven by several factors, including industrialization, urbanization, and infrastructure development. The market is expected to grow due to the increasing demand for construction materials and the need for mobility in crushing equipment. However, the market also faces challenges such as the high cost of wear parts and equipment maintenance, and the impact of climatic changes on crushing efficiency. Despite these challenges, the market presents several opportunities for growth, particularly in the areas of sustainable construction materials, automated machines, and mobility.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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