Coherent Market Insights

Cone Crusher Market To Surpass US$ 2377.5 Mn by 2030

Cone Crusher Market To Surpass US$ 2377.5 Mn by 2030 - Coherent Market Insights

Publish In: Dec 08, 2022

The Global Cone Crusher Market is estimated to account for US$ 1599.8 Mn in terms of value by the end of 2021. Cone crushers are of different types. These equipment are used for compressing materials between two metal pieces.  The Symons Principle is a common method used by many cone crusher manufacturers that requires time to rotate the mantle in order to achieve optimal impact. This will create a narrow point in the crushing chamber. This narrow point will be used to selectively retain one fraction of the ore stream as it exits the crusher. When setting a cone crusher, it is important to understand that the cone and the screen work together to achieve optimal crushing action.

Global Cone Crusher Market: Drivers

Increasing focus of market vendors on lowering costs and increasing production as well as energy-efficiency of cone crushers is expected to augment growth of the global cone crusher market over the forecast period. Crushing equipment are major reason behind rise in energy consumption in industries operating crushing equipment. Due to this, these industries are focused on reducing costs, and increasing production as well as energy-efficiency of crushing equipment. For instance, as per the stats from Thermo Fisher, the procedure of crushing and grinding ore is energy-intensive and accounts for nearly 3-5% of the global power usage. Thus, market players are offering solutions that are cost-effective and energy-efficient. This is further fueling growth of the global cone crusher market.

Global Cone Crusher Market: Opportunities

Increasing urbanization all over the world is projected to offer growth opportunities in the global cone crusher market during the forecast period. The construction industry is anticipated to boost the capital spending for equipment installation, including crushers among other equipment due to rising urbanization. For instance, as per the United Nations, currently the rate of population living in cities is 55% all over the world and the number is expected to grow to nearly 68% in the coming years. Thus, this will further create various growth opportunities in the global cone crusher market.

Global Cone Crusher Market: Restraints

The impact of Covid-19 pandemic is expected to limit growth of the global cone crusher market during the forecast period. The pandemic resulted into disruption of several construction activities around the world. Moreover, mining industry among various others was also closed down temporarily during the pandemic, which further reduced demand for cone crushers. Due to lack of raw materials and manpower, various industrial operations were disrupted and this affected the production and demand for cone crushers. Thus, this factor is anticipated to obstruct the market growth in the forecast future.

Global Cone Crusher Market- Impact of Coronavirus (Covid-19) Pandemic:

The virus outbreak in Wuhan, China impacted several countries across the globe. Various industries including mining, construction, aggregate processing, and demolition among several others were negatively impacted by the Covid-19 pandemic. Many countries announced nationwide lockdowns as preventative measures, which further disrupted manufacturing, supply chains and distribution operations in various industries. Due to the lack of manpower and raw materials many industries activities had to be shut down during the pandemic. Construction industry was majorly impacted by the pandemic, as under the lockdown regulations construction activities were closed down. Thus, demand for cone crushers declined in this period, which negatively impacted growth of the global cone crusher market.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/cone-crusher-market-5391

Key Takeaways:

The global cone crusher market was valued at US$ 1599.8 Mn in 2021 and is forecast to reach a value of US$ 2377.5 Mn by 2030 at a CAGR of 6.4% between 2022 and 2030.

Mobile segment held dominant position in the global cone crusher market in 2021, accounting for 44.4% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Global Cone Crusher Market Trends:

Increasing number of road projects around the world is an emerging trend in the global cone crusher market. Several countries are rolling out larger number of road projects along with road widening from 4 to 6-lane and 2 to 4-lane. This further increasing the demand for crushing plants. Moreover, limited timelines for these projects is leading to rapid deployment of advanced machines by contractors to get assured performance with low set-up and minimum downtime. Thus, this trend is growing in the global cone crusher market.

Rise in mining and quarrying activities in Europe is also a growing trend in the global cone crusher market, which is likely to fuel the market growth. The United Kingdome is one of the major producer of various minerals consumed in several sectors of the country. For instance, as per the British Geographical Survey, the number of silica sand extraction sites in the U.K. was nearly 32 active sites in 2020, including 5 in Scotland, one in Wales and 26 in England. Thus, this trend will continue driving growth of the market in the near future.

Global Cone Crusher Market: Competitive Landscape   

Tesab Engineering Ltd., Terex Corporation, ThyssenKrupp AG, Metso Corporation, FLSmidth & Co. AS, McCloskey Equipment, Keestrack NV, Westpro Machinery Inc., Puzzolana Machinery Fabricators LLP,  Astec Industries Inc., and Sandvik AB.

Global Cone Crusher Market: Recent Developments

In March 2020, Astec Industries Inc. announced the launch of Titan T200 Cone Crusher at CONEXPO/ CON-AGG 2020 in Las Vegas. This is the latest model of cone in the Titan series crushers, which was launched in 2012 for delivering maximum uptime availability and also for minimizing costs of maintenance.

In August 2021, Sandvik acquired 67% of Chuzhou Yongpu Carbide Tools Co., Ltd., who is a manufacturer of premium solid round tool based in China. Sandvik Coromant, a branch of Sandvik Manufacturing will be reporting on the company.

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