The cone crushers market size has exhibited strong growth in recent years, increasing from $2.31 billion in 2023 to $2.47 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth during this period can be attributed to urban infrastructure development, advancements in crushing machinery, economic expansion, and the mining industry's expansion. The market is anticipated to see significant growth, projected to reach $3.13 billion in 2028, reflecting a CAGR of 6.1%. This anticipated growth is driven by rising demand for aggregates, increased road construction activities, the use of mobile and wireless crushers, and ongoing infrastructure development. Major trends include innovations in products, automation, remote monitoring, the integration of IoT and data analytics, and technological advancements.
Major Driver In The Cone Crushers Market
The expansion of demand for construction and infrastructure developments plays a pivotal role in driving the cone crushers market forward. Construction activities involve erecting buildings and infrastructure, where cone crushers find extensive use for reducing the size of raw materials and feed. In March 2023, as reported by the Office for National Statistics, quarterly construction production increased by 0.3% in the fourth quarter of 2022 compared to the previous quarter. Additionally, following a remarkable growth of 12.8% in 2021, annual construction production surged by 5.6% in 2022 compared to the preceding year. Thus, the escalating demand for construction and infrastructure developments is poised to fuel the cone crushers market. The cone crushers market stood at $X billion in 2023 and is forecasted to reach $Y billion by 2024, further ascending to $Z billion by 2028.
Request A Free Sample Of The Global Cone Crushers Market Report
Cone Crushers Market Competitive Landscape
Thyssenkrupp AG, Tesab Engineering Ltd., Sky Machinery, Weir Group PLC, Sandvik AB, Hazemag & EPR GmbH, Metso, Mesto Corporation, Terex Corporation, FLSmidth & Co. A/S, Superior Industries Inc., Johnson Crushers International Inc., Astec Industries Inc., Propel Industries Private Limited, McLanahan Corporation, Remco Inc., Eagle Crusher Company Inc., McCloskey International Limited, Trio Engineered Products, Keestrack NV, Telsmith Inc., Lippmann-Milwaukee Inc., Minyu Machinery Corparation, Puzzolana Machinery Fabricators LLP, WESTPRO Machinery Inc., IROCK Crushers LLC, Trimax Machinery, Global Mining Crusher, Shanghai Gator Mechinery Co.Ltd, Raptor Cone Crushers
Key Cone Crushers Market Trend
Product innovations are a major trend in the cone crusher market. Companies are developing new products to maintain their market position. For instance, in March 2023, Metso Outotec Corporation, a Finland-based industrial machinery company, launched the HP200e cone crusher. This new model features advanced kinematics and redesigned chambers for improved uptime and environmental sustainability, including a 10% increase in head motion and 20% more kilowatt power, enhancing performance for aggregate producers.
Get The Full Global Cone Crushers Market Report
Cone Crushers Market Segmentation
The cone crushers market covered in this report is segmented –
1) By Type: Symons, Hydraulics, Gyrator
2) By Offering: Mobile Crushers, Portable Crushers, Stationary Crushers
3) By Power Source: Electric Connection, Diesel Connection, Dual Connection
4) By End-Users: Mining and Metallurgy, Aggregate Processing, Construction, Demolition
By Geography:The regions covered in the cone crushers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the cone crushers market in 2023.
The Cone Crushers Global Market Report 2024 furnishes information about the global cone crushers market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
