The cone crushers market size was valued at $1.7 billion in 2020, and is expected to reach $2.9 million by 2030, registering a CAGR of 5.5% from 2021 to 2030. Cone crushers are highly effective at using compression to crush material into a consistent product. For this reason, cone crushers are the most commonly used crushing plant for secondary and tertiary crushing stages in both the aggregate and recycling industries.
The cone crushers market is mainly driven by factors such as increase in government expenditures for infrastructural development, such as improvement of tunnels, mining operations, and other construction activities has been expected to increase. Thus, rapid urbanization and industrialization in developing countries have given rise to construction activities. In addition, development in manufacturing technology for construction activities is one of the major driving factors of the market, which ultimately saves construction time and delivers better results.
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Moreover, lack of skilled labor in developed countries is a major problem, which is easily tackled by using cone crushers. However, cone crushers are construction equipment that are expensive compared to labor cost in countries such as India and Brazil. Moreover, use of alternative eco-friendly material instead of concrete has led to decrease in demand for cone crushers in the market. Furthermore, outbreak of the COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering growth of the market. However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
However, growth demand for construction & infrastructure developments largely drives the cone crushers market trends. Industries such as roads & railways, tunnels, residential & non-residential construction, and mining are continuously developing, therefore, need construction of new infrastructure. This leads to rise in demand for aggregates, concrete and precast products & elements. Thus, creating a major opportunity in emerging countries for cone crushers market growth.
The cone crushers market analysis is segmented into end-user industry, mobility, sales type and region. By end-user industry, the market is segregated into mining, construction and recycling. The mobility covered in the study include stationary, portable-wheeled and portable-tracked mounted. On the basis of sales type, the market is divided into new equipment sales and aftermarket sales. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Russia, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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Key Findings Of The Study
- By end-user industry, the mining segment was the highest revenue contributor in 2020.
- On the basis of mobility, the portable-tracked mounted segment was the highest revenue contributor in 2020.
- By end-user industry, the automotive segment dominated the market in 2020.
- Depending on sales type, the new equipment sales segment acquired the leading position in 2020.
- Asia-Pacific generated the highest revenue in 2020.
Leading Players:
The major players profiled in the cone crushers industry include Chengdu Dahongli Machinery Company Limited, CITIC Limited, Constmach, FLSmidth, Meka, Metso Outotec, Sandvik AB, Tenova S.p.A., The Weir Group PLC and Thyssenkrupp AG. Major companies in the market have adopted product launch as their key developmental strategy to offer better products and services to customers in the market.
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