Large Paragraph: Cone crushers are heavy duty machinery used in mining and aggregate industries for crushing rocks and ore into smaller sizes. The crusher breaks material by squeezing or compressing it between a moving piece of steel and a stationary piece. Cone crushers provide reduction ratios and outputs that far exceed what is possible with a conventional single reduction crusher. The global 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 key trends: Increasing mining activities across the globe is a key factor driving the demand for cone crushers. According to the World Bank, the value of metals and minerals mined globally increased from US$ 886 billion in 2013 to US$ 975 billion in 2018. This trend of rising mining output is projected to continue due to the growing population and rapid urbanization which is expected to boost demand for metals and construction materials. With growing mining volumes, the demand for efficient crushing equipment such as cone crushers is also projected to rise significantly over the forecast period. The report covers detailed segmentation of the cone crusher market along with key trends and market opportunities.
SWOT Analysis
Strength: Cone crushers are suitable for crushing wide range of rocks and minerals which makes them flexible. They provide consistent sized cubic product as against irregular shaped product from jaw crusher.
Weakness: Initial set up cost of cone crushers is high. They require regular maintenance and checks which increases operating cost. Cone crushers cannot handle unbreakable or tramp metal pieces which may cause damage.
Opportunity: Growing construction industry worldwide is increasing demand for crushed aggregates. Adoption of cone crushers for secondary and tertiary crushing stages of aggregates provides growth opportunity to manufacturers.
Threats: Introduction of new technologies like hybrid crushers poses threat to conventional cone crushers. Economic slowdowns can negatively impact sales of crushing equipment.
Key Takeaways
The global Cone Crusher Market is expected to witness high growth. Regional analysis related content comprises
Regional Analysis:
The Asia Pacific region dominates the cone crusher market currently due to rapid urbanization and infrastructure development activities in major countries such as China and India. North America is another major region for cone crusher market supported by recovery in construction sector. Europe is expected to show moderate growth in coming years driven by countries such as Germany and UK.
Key Players:
Key players related content: 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, Astec Industries Inc., and Sandvik AB. The industry is fragmented with presence of both global and regional players. Collaborations between OEMs and crushing equipment providers are expected to boost sales.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
