The 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 Overview:
Cone crushers are machines used for crushing rocks into smaller sizes. These crushers are suitable for jobs involving reduction and sizing. They use compressive forces for breaking material which gets reduced in size as it passes through the chamber of the crusher. The crushing is done between an eccentrically gyrating spindle which has a conical head mounted on it and the concave-shaped bowl-liner. These crushers find widespread applications in construction, mining and metallurgy industries primarily for reducing sizes of crushed rocks and ore.
Market Dynamics:
The rapid industrialization and infrastructural development activities across the globe especially in developing economies have led to a significant rise in demand for crushed stones. The construction industry alone accounts for around 12% of the global GDP and around 60-70% of crushed stones produced worldwide are consumed by this industry. The ongoing investments in road construction, railway lines projects, dams, bridges and other infrastructure development coupled with increasing urbanization are fueling the demand for cone crushers for crushing aggregates. Additionally, steadily growing mining and metallurgical activities for production of metals like iron, aluminum and base metals is also driving the cone crusher sales. Furthermore, continuous technological advancements in cone crusher designs for achieving higher crushing capacities, fuel efficiency and automation are further aiding their growing adoption rate. However, high initial investment costs associated with these machines remains a key challenge.
SWOT Analysis
Strength: Cone crushers have high reduction ratios that allows for the creation of cubical products. They require fewer processes than alternate crushers resulting in lower operational costs. Their simplistic design leads to less maintenance problems and downtime.
Weakness: Cone crushers are prone to clogging and require frequent cleaning. The limited range of the adjustable discharge opening means operators must frequently adjust settings.
Opportunity: Increasing infrastructure development projects across developing nations is driving demand for cone crushers from the construction industry. The need for efficient waste management solutions is opening new areas of application in recycling plants.
Threats: Fluctuating raw material prices affect the operational costs of cone crusher users. Growing environmental regulations threaten certain applications that produce high noise and dust pollution.
Key Takeaways:
The global Cone Crusher Market Growth is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing infrastructural activities in developing regions. Rising construction of roads, dams and other projects fuels the demand for cone crushers in these regions.
Regional analysis The Asia Pacific region currently dominates the global cone crusher market, holding around 35% of the total share. China, India, and other Southeast Asian countries are exhibiting high demand on account of rapid urbanization and infrastructure growth. North America and Europe are also significant regional markets driven by recovery in construction spending and mining production.
Key players operating in the cone crusher market are Tesab Engineering Ltd., Terex Corporation, ThyssenKrupp AG, Metso Corporation, FLSmidth & Co. AS, McCloskey Equipment, Keestrack NV, Westpro Machinery Inc., Puzzolana Machinery Fabricators LLP, Â Astec Industries Inc., and Sandvik AB. The market is fragmented in nature with the top players accounting for around 25-30% share.
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