The global cone crusher market is anticipated to be worth US$ 2,765.4 Million by the end of 2022. During the projection period of 2022 to 2032, the market is predicted to grow at a CAGR of 5.7%, with a closure amount of US$ 4,823.5 Mn. During the 2016 to 2021 timeframe, the market grew at a CAGR of 5.1%.
The main market driver for cone crushers is the emergence of industries like mining, aggregate, demolition, and construction in many nations. Cone crusher demand is rising on a global scale as governments fund infrastructure projects. The market is also anticipated to benefit from the focus on projects for affordable housing. Cone crushers offer a variety of operational benefits to various industries, which is anticipated to boost the sale of equipment.
In countries like India, where mining industry is not registering a significant growth, the demand for cone crushers used in mining industry is seeing the decline in the growth, which is inhibiting the global cone crusher market growth.
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In order to save the capital and operational costs associated with the cone crushers, many construction and mining companies are opting for rented cone crushers as per the requirement, which is inhibiting sale of new cone crushers but opening up a rental avenue for the vendors.
Hybrid Cone Crushers to hold Lion’s Share during Forecast Period
On the basis of power source, the global cone crusher market is segmented into electric motor, diesel engine, and hybrid. The hybrid cone crushers are expected to perform well in the market as they held in reducing operational costs. Furthermore, their improved environmental compatibility is also projected to help the segment witness a steady growth rate
On the basis of application, the global cone crusher market is segmented into construction, mining, demolition, aggregate, environmental, and others. The mining segment is expected to stand out, proving the global cone crusher market a massive scope for growth. However, analysts also project that the demolition segment will also leap ahead as nations take a step forward toward materializing infrastructural plans for building future cities.
Middle East and Asia Pacific Emerge as Leading Regional Market with Infrastructural Developments
On the basis of geography, 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 market revenue, Asia Pacific and the Middle East and Africa are the attractive markets for cone crushers. Analysts anticipate that the Middle East & Africa and Asia Pacific are projected to register a steady CAGR as developing economies witness infrastructural developments. North America cone crusher market is projected to register a slow but stable CAGR during the forecast period. However, rise of mining and construction industry and introduction of innovative and advanced technologies are some of the factors are fuelling the growth of cone crusher market in North America.
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Global Cone Crusher Market: Key Players
The key players operating in the global cone crusher market are WESTPRO, Telsmith, Terex, Global Mining Crusher, Metso and Sandvik.
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
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