CONE CRUSHER MARKET ANALYSIS

Market Size and Trends

The cone crusher market is estimated to be valued at US$ 1.91 Bn in 2024 and is expected to reach US$ 2.75 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.

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The rising mining activities across the globe are supporting the market growth. Cone crushers are highly used for crushing stones and minerals in mining applications. Furthermore, increasing construction activities due to rapid urbanization are also driving the demand for cone crushers in building aggregate applications. The upcoming infrastructure projects in developing countries offer lucrative opportunities for the market players. However, high initial costs of these crushers may hinder the market growth. Key players are focused on introducing innovative solutions to further strengthen their market position.

Rapid industrial development and infrastructure growth

The rapid pace of global industrial development and infrastructure growth is contributing significantly to the expansion of the cone crusher market. Many developing economies across Asia Pacific, Latin America, Middle East, and Africa are heavily investing in industrialization and improving transportation networks to boost economic activities. Heavy construction requires extensive excavation, quarrying, mining, and material processing for roads, bridges, buildings, factories, and power plants. This is generating a massive demand for different types of crushing equipment including cone crushers to break and process large rocks and stones into usable aggregates.

Manufacturing industries as well as construction sectors heavily rely on aggregates in their day to day operations. From concrete mixes for building construction to raw material supply for manufacturing units, aggregates form the backbone of industrial development. As more countries embark upon ambitious plans to accelerate industrialization, upgrade infrastructure, and boost economic growth, the reliance on aggregates is expected to surge tremendously. This bodes very well for the cone crusher market as manufacturers continue producing high quality cone crushers with improved efficiency to cater to the rising aggregate crushing needs of various industries. New infrastructure projects, real estate expansion plans, and initiatives to develop special economic zones would further augment the consumption of cone crushers globally in the coming years.

Market Concentration and Competitive Landscape

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With growing awareness about occupational safety, health hazards, and environmental pollution caused by mining activities, there is a rising emphasis on employing mining equipment that minimize risks and adopt clean technologies. Cone crushers are emerging as one of the preferred crushing solutions in mining sectors due to their safety and eco-friendly credentials. Compared to conventional impact crushers, cone crushers cause minimum noise and dust pollution during the crushing operations. Their mechanism does not involve any violent hammering action but relies on the steady compression of ore between a movable cone and a fixed cone for size reduction. This results in low vibration, minimal noise, and dust generation.

Furthermore, cone crushers facilitate better size control of the crushed material with their adjustable ejection port and simplify the process of changing wear parts. Safer, economical, and consistent performance of cone crushers improves productivity, reduces maintenance downtime, and provides a safer working environment for miners. Their automated functions and computer-controlled system allow remote operations from a safe distance, doing away the need for continuous human presence near the active crushing parts.

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One of the major challenges facing the cone crusher market is fierce competition among established players. As the market reaches maturity in developed economies, players are engaging in pricing wars to strengthen their market share. Rising raw material costs also pose a challenge as margins come under pressure. Technological advancement is happening at a rapid pace and buyers expect frequent product upgrades, forcing manufacturers to make continuous investments in R&D.

Market Opportunities: Emerging markets in Asia Pacific and Latin America

On the other hand, the market sees sizable opportunities in emerging economies. As infrastructure development takes off in developing nations, demand for construction equipment including crushing machinery is set to rise significantly. Mining activities are also growing briskly in the aforementioned regions, helping to boost demand. New applications in industries such as waste recycling offer additional avenues for market expansion.

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Within the power source segment of the cone crusher market, diesel powered cone crushers are expected to contribute the highest share of 53.2% in 2024 due to their reliability and versatility. Diesel engines provide a self-contained power option that does not require an external power source like electric models. This makes diesel crushers highly adaptable for mobile and remote construction or mining sites that may not have a stable electricity infrastructure. Diesel engines can run on multiple fuel types including diesel, gasoline, and hydrotreated vegetable oil (HVO), giving operators flexible fueling options.

Diesel crushers are well-suited for heavy duty crushing applications involving tough, abrasive materials. Their hydraulic and mechanical components are built to withstand rugged job sites and harsh operating environments. Maintenance is simplified since diesel engines have fewer ancillary electrical components compared to electric motors. Operators appreciate the ease of standard diesel maintenance and repair procedures. Additionally, diesel models tend to have higher horsepower ratings, allowing them to crush larger rock sizes and volumes than electric crushers of a similar scale.

The self-contained power design of diesel crushers makes them well-matched for mobile and portable applications. Their mobility gives operators flexibility to move crushers on-site as production needs change or to transport them between job locations. For mining and construction firms operating across remote areas, the autonomous power of diesel units avoids dependency on establishing a power infrastructure to run electric crushers. Overall diesel cone crushers have established themselves as a go-to solution for the most demanding crushing applications due to their reliability, versatility, and mobility.

Insights By, Offering - Versatile Design Drives the Demand for Mobile Cone Crushers

Within the offering segment of the cone crusher market, mobile crushers make up the highest share of 49.2% in 2024 due to their versatile, adaptable design. Mobile crushers come fully mounted on wheels, tracks or skids, allowing operators to easily relocate units as required by production needs or site conditions. Their self-propelled design gives unmatched flexibility to be moved across gravel pits, mines, quarries, cement works and other job sites.

The mobility of mobile cone crushers frees up operators from being tied to a fixed location like stationary crushers. Operators have unrestricted flexibility to transport mobile units short distances on-site to reposition them closer to the face or to shift production operations as material extraction progresses. They can also readily transport mobile crushers over-the-road to completely new sites without needing heavy lifting equipment.

Compact dimensions and weights also allow mobile crushers to access confined production areas with limited space. Contractors appreciate how mobile units can be easily deployment in urban demolition sites with tight clearances. Their maneuverability further aids production flexibility at crowded aggregate sites. Overall, the versatile, self-propelled design of mobile cone crushers optimizes material handling flexibility compared to static or portable units. This makes them a top choice for contractors and producers with frequently changing crushing locations or conditions.

Insights By, Application- Wide Application Scope Drives the Demand for Mining Cone Crushers

Within the application segment of the cone crusher market, mining crushers are expected to account for the highest share of 31.4% in 2024 due to their suitability for a wide variety of hard rock material reduction needs. Cone crushers are highly effective at processing the complex mixtures of rock, ore and mineral materials encountered at mining operations. Their rugged design and high productivity is well-matched to the demanding, high volume crushing, and recycling requirements of mining applications.

Cone crushers excel at reducing materials ranging from extremely hard granite and basalt to softer gravel and ore deposits containing sulfides, silicates, phosphates, and carbonates. They efficiently break down oversized feed materials into uniformly sized aggregate for further processing downstream or direct loading into hauling equipment. These capabilities are invaluable for both underground and surface mining across multiple mineral industries including iron ore, copper, gold, bauxite, nickel, and coal.

Superior material reduction and high throughput also makes cone crushers a go-to solution for aggregate recycling in mining applications. Their ability to break rehandled waste rock and tailings back into reusable product efficiently extends the lifecycle value of mined materials. Reliability is another core advantage for mining use, where crushers must withstand tough duty cycles with minimal downtime. Overall, mining applications require by far the most demanding crushing capabilities. Cone crushers answer this need better than alternate machines due to crushing completeness and consistent production rates.

Regional Insights

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North America has established itself as the dominant region in the global cone crusher market. This region is expected to account for 38.9% of the market share in 2024. With the presence of major cone crusher manufacturers like Metso, Sandvik, McCloskey International, and Terex, the U.S. and Canada account for over 35% of the worldwide sales volume. The region enjoys strong demand from the construction and mining industries, which continually upgrade and expand capacity to support domestic infrastructure development and extract natural resources. Moreover, North American countries have favorable business environments and rigorous standards that encourage Original Equipment Manufacturers innovation. As a result, the latest cone crusher models are often launched first in this market.

The competitive landscape also drives down prices through competition, increasing affordability, and spurring further equipment replacement. In addition, the U.S. supplies over a quarter of global iron ore exports, underpinning steady demand for cone crushers in mining applications. Mexico is emerging as an integral part of continental trade due to United States-Mexico-Canada Agreement and low manufacturing costs. Overall, the mature regional economics and robust funding for mining and construction ensure North America’s position at the forefront of the cone crusher industry remains secure.

Fast gaining ground is the Asia Pacific region. Countries like China, India, and Indonesia are experiencing exponential infrastructure growth supported by massive government investments. India for example unveiled a nationwide US$ 1.4 trillion infrastructure development program as part of its ‘Make in India’ mission. This initiative incorporates expanding road and rail networks, along with building new industrial zones and smart cities. Such large-scale projects involving road base, ballast, and concrete aggregate production require extensive crushing equipment fleets.

Domestic cone crusher brands in Asia Pacific are aggressively targeting these opportunities. With improving quality and technical expertise, they are able to undercut imported machines on pricing. This is contributing to Asia Pacific accounting for over 20% of annual cone crusher shipments worldwide, despite housing less than a third of related mining reserves. Its position as a low-cost manufacturing hub also makes the region an attractive sourcing destination for cone crusher components. Going forward, continued infrastructure growth and strengthening Asian brands are predicted to see the region outpace global market expansion rates.

Market Report Scope

Key Developments

• In June 2022, McCloskey specializes in the manufacturing of equipment for the screening, crushing, recycling, and material handling industries. unveiled a new C2C Compact Cone Crusher at Hillhead 2022. This crusher brings the power of the MC200 cone into a smaller size, offering operators a highly maneuverable and portable option. Packed with features to boost productivity, the new C2C is designed to be easily transportable and efficient.
• In October 2021, Metso Outotec is a global leader in providing technologies, equipment, and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling, and process industries. expanded its Lokotrack crushing and screening equipment range by introducing two new mobile cone crushers. These machines, known for being compact and efficient, are tailored for working with construction aggregates. They offer 30% more capacity than previous models and are powered by a Cat C9.3B engine. Built on a new chassis, customers can choose between the Nordberg HP200 or the GP220 cone crusher, both suitable for hard rock crushing.
• In April 2022, FLSmidth is a global provider of engineering, equipment, and service solutions for the mining and cement industries, specializing in sustainable and productive processing of minerals and materials. was selected to provide all the necessary equipment and processing plans, including ore leaching, for Sabina Gold & Silver Corp.'s Goose gold mine in Nunavut, Canada. The order, was confirmed in Q2 2022. Delivery of the equipment is scheduled for mid-2023, ahead of the mine's start-up in Q1 2025. FLSmidth will deliver various equipment, including jaw crushers, Raptor Cone Crushers, ball mills, VXP-Stirred Mills for secondary grinding, KREBS cyclones, pumps, screens, feeders, and Knelson gravity concentrators. Additionally, the order includes equipment for pre-oxidation and leaching, carbon in pulp (CIP) extraction, absorption, desorption, and refining (ADR), and detoxification.
• In March 2022, Sandvik is a multinational engineering company that provides advanced technology and services for industries such as mining, construction, and manufacturing. introduced its UK373 wheeled cone crusher and surface drills rental fleet in the U.S., alongside its CH440 cone crusher and rock tools display. The Sandvik UK373 offers an electrically-driven, closed-circuit crushing solution mounted on a quad-axle trailer frame. The Sandvik CH440 is designed for high-capacity secondary applications or high-reduction tertiary or pebble-crushing applications. It can adapt to changes in production through the selection of crushing chambers and an eccentric throw.
• In April 2022, FLSmidth revealed that it will supply a complete set of equipment to a new gold mine in Northern Canada. This equipment package includes a jaw crusher, cone crusher, ball mills, cyclones, and other necessary machinery.

*Definition: The cone crusher market involves the manufacturing, distribution, and sale of cone crushers. Cone crushers are heavy machinery used in mining and construction industries to crush large stones, ores, and minerals into smaller sizes. They find applications in crushing aggregates for concrete production and breaking down larger chunks of materials during recycling, mining, and quarrying operations. The cone crusher market sees demand from these industrial sectors that require crushing and production of uniform aggregate materials.

Market Segmentation

•  Power Source Insights (Revenue, US$ BN, 2019 - 2031)
  • Electric Connection
  • Diesel Connection
  • Dual Connection
•  Offering Insights (Revenue, US$ BN, 2019 - 2031)
  • Mobile Crushers
  • Portable Crushers
  • Stationary Crushers
•  Application Insights (Revenue, US$ BN, 2019 - 2031)
  • Mining
  • Metallurgy
  • Chemical Industry
  • Construction
  • Others
• Regional Insights (Revenue, US$ BN, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa
• Key Players
  • Astec Industries Inc.
  • FLSmidth & Co. A/S
  • IROCK Crushers
  • Metso Corporation
  • Minyu Machinery Corporation
  • NMS Industries Ltd.
  • Propel Industries Pvt. Ltd.
  • R.R. Equipment Company
  • Sandvik AB
  • Telsmith Inc.
  • Terex Corporation
  • Tesan Engineering Ltd.
  • Trimax Machinery
  • Weir Group Plc