The cone crusher market is projected to be valued at USD 2,765.4 million by the end of 2022. It is expected to grow at a CAGR of 5.7% from 2022 to 2032, ultimately reaching a value of USD 4,823.5 million by 2032. Cone crushers are employed to crush various minerals, including sandstone, limestone, granite, and iron ore, in preparation for further processing.
It is experiencing growth driven by sectors such as mining, aggregates, demolition, and construction across various countries. This increase is primarily fueled by global investments from governments in essential infrastructure projects. Additionally, the market is benefiting from a growing focus on affordable housing initiatives. Cone crushers provide numerous operational advantages, making them an attractive option that is expected to enhance machinery sales.
Construction Industry Growth to Boost Cone Crusher Demand
The rise of mining, aggregate, demolition, and construction industries in many countries is a key driver for the demand for cone crushers. As governments invest in infrastructure projects, the global demand for cone crushers is on the rise.
The focus on affordable housing projects is also expected to positively impact the market. The operational benefits provided by cone crushers will likely contribute to increased machinery sales.
In regions like India, where the mining sector is not experiencing significant growth, the demand for cone crushers in the mining industry is declining, which is hindering overall market growth.
To manage capital and operational costs associated with cone crushers, many construction and mining companies are turning to rentals instead of purchasing new equipment, which may slow new sales but opens rental opportunities for vendors.
Hybrid Cone Crushers Expected to Dominate the Market
The global cone crusher market is segmented by power source into electric motors, diesel engines, and hybrid systems. Hybrid cone crushers are anticipated to perform well due to their ability to reduce operational costs and improve environmental compatibility.
By application, the market is divided into construction, mining, demolition, aggregate, environmental, and others, with the mining segment poised for significant growth. However, analysts expect the demolition segment to also gain traction as countries advance their infrastructural plans for future cities.
Asia Pacific and Middle East: Key Regional Markets
Geographically, the global cone crusher market is segmented into North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and the Middle East & Africa. In terms of revenue, Asia Pacific and the Middle East & Africa are emerging as key markets for cone crushers. Analysts predict steady growth in these regions due to ongoing infrastructural developments. North America is expected to register a slow but stable CAGR during the forecast period, driven by advancements in mining and construction technologies.
Key Companies Profiled
Shanghai Shibang Machinery, Weir, Shuangjin Machinery, WIRTGEN GROUP, Zhejiang MP Mining Equipment, Northern Heavy Industries, Astec Industries, Minyu Machinery, Tesab, ThyssenKrupp, Terex, Liming Heavy Industry, McCloskey International, Metso, Sandvik, Chengdu Dahongli, FLSmidth
Cone Crusher Market: Segmentation
By Type:
- Symons
- Hydraulics
- Gyratory
- Other Types
By Offering:
- Mobile Crushers
- Portable Crushers
- Stationary Crushers
By Power Source:
- Electric Connection
- Diesel Connection
- Dual Connection
By End-user Application:
- Mining and Metallurgy
- Construction
- Aggregate Processing
- Demolition
- Other
By Region:
- North America
- Europe
- Asia Pacific
- South America
- Rest of the World (RoW)
- Middle East
- Africa
Report Preview: https://www.futuremarketinsights.com/reports/cone-crusher-market
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