Cone crushers are used in mining and aggregates industries for crushing various materials into pieces of uniform size. Cone crushers offer advantages such as high crushing capacity, low maintenance costs, and stable performance. Increased mining activities across emerging economies have been augmenting the demand for cone crushers to crush mined materials into usable forms. 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 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increase in mining activities has been one of the key growth drivers for the cone crusher market. Emerging economies in Asia Pacific and Latin America regions are witnessing significant rise in mining exploration and production activities to fulfill the rising domestic demand for construction materials as well as extractive materials. Rapid industrialization and infrastructure development projects in these regions have been propelling the demand for crushed stones, which is positively impacting the sales of cone crushers. Manufacturers are focusing on development of advanced cone crusher models with innovative features such as higher operation efficiency, reduced maintenance costs, and improved life cycle to cater to the growing demand from mining industry.
Segment Analysis
The global cone crusher market is dominated by the mining segment which accounts for over 60% of the market share. Within mining, the minerals segment such as crushed stones, sand gravel, limestone and iron ore contributes significantly to the consumption of cone crushers. The wide use of aggregates in construction activities requires a large amount of crushed stones for use in concrete, asphalt and other infrastructure projects. Cone crushers are well suited for aggregates production as they provide shape and sizes suitable for consistent mixing during concrete casting and road laying activities.
Key Takeaways
The global Cone Crusher Market Demand is expected to witness high over the forecast period owing to rising investments in infrastructure development globally. Regional analysis related content comprises North America and Europe are currently the largest markets for cone crushers driven by continued investments in mining and quarrying industries in countries such as Canada, US, UK and Germany. However, Asia Pacific region is expected to grow at the fastest rate supported by the rapid pace of economic development and rise in mining sector in China, India and Southeast Asian nations.
Key players related content comprises Key players operating in the cone crusher market include Tesab Engineering Ltd., Terex Corporation, ThyssenKrupp AG, Metso Corporation, FLSmidth & Co. AS, McCloskey Equipment, Keestrack NV, Westpro Machinery Inc., Puzzolana Machinery Fabricators LLP, Astec Industries Inc., and Sandvik AB. Among these, Tesab Engineering Ltd., Terex Corporation and Metso Corporation hold a major market share owing to their wide product portfolio and strong global presence.
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