Cone crushers are mining equipment that are extensively used for crushing stones & rocks into smaller sizes in the mining sector. They operate through crushing rocks that pass through the annular space between a mantle located eccentric inside a cone and an outer fixed bowl shell of the cone crusher. Cone crushers offer stable performance, uniform particle sizes and shape, and low maintenance owing to their simplistic design. Rapid growth of infrastructure development activities and rising demand for crushed aggregates in construction applications are driving the adoption of cone crushers.
The global cone crusher Market is estimated to be valued at US$ 1811.13 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising demand for crushed aggregates in construction applications such as roads, highways, bridges, buildings is a key driver fueling the growth of the cone crusher market. Governments across both developed and developing regions are heavily investing in infrastructure development projects, which is increasing the demand for cone crushers as they help efficiently produce construction aggregates. Furthermore, advancements in cone crusher technology such as the introduction of hydraulic cone crushers that allow remote operation is also boosting the market growth. However, high initial investments for cone crusher equipment may restrain the growth of the market to some extent over the forecast period.
Segment Analysis
The global cone crusher market is dominated by the mining sub-segment, which holds around 65% share of the overall market. Cone crushers are extensively used for mining and quarrying applications owing to their ability to crush harder rocks and ores. They produce more cubic shapes without cracking, are less worn, and provide more reduction and product uniformity in mining and quarrying operations as compared to jaw crushers.
PEST Analysis
Political: Mining regulations impact the demand for cone crushers. Stringent environmental norms tend to reduce mining activities and thereby demand for cone crushers.
Economic: A strong economy favors infrastructure development which drives the demand for construction materials. Robust construction activities increase the requirement for crushed aggregates which spurs the cone crusher market.
Social: Population growth and rapid urbanization increase the demand for housing, road construction, and infrastructure development which boost the need for crushed construction aggregates and cone crushers.
Technological: Advances in crusher design help improve performance, reduce maintenance needs, enable automation, and increase energy-efficiency. These developments expand the scope of cone crusher applications.
Key Takeaways
The Global Cone Crusher Market Growth is expected to witness high in the forecast period of 2023 to 2030.
Regional analysis: Asia Pacific region is expected to remain the largest as well as the fastest growing market for cone crushers during the forecast period. This can be attributed to ongoing infrastructure development projects, increasing construction investments, and expanding mining industry in China and India.
Key players related content comprises Key players operating in the cone crusher market are Wood plc, WorleyParsons, Fluor Corporation, Aecom, Jacobs, SNC-Lavalin, Hatch Ltd, Bechtel Corporation, KBR Inc, TechnipFMC, Chicago Bridge & Iron Company, Hyundai Engineering & Construction, McDermott International Inc, National Projects Construction Corporation, Galfar, Tecnicas Reunidas, Saipem, Daewoo E&C, and Petrofac Ltd. Metso Corporation and Sandvik are the largest manufacturers of cone crushers globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it